Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1877-06-30
lCOMMENLcATEn-
Tiie City Dcbt---A Compromises

AhS SAtS compromises.
The writer 10 bis previous communications
has epdeavorcd to discuss briefly and fairly the
city debt, and the taxation necessary to meet
the Interest thereon and carry Oh the municipsI
government. The figures, the impoverished
condition of the people, all show the imposs!.
bIilty oil increasing taxation, aud nothing but
such an increase will pay the interest on IL,
debt and carry on the government. In concu
sion be proposes to discuss the necessity AMI
proprieiy of reducing the debt, anu the modes
by which this eau be effected. Two modes >lIr
gest themselves. The first by diSposins oi l!r
gas WORKS, the ground rent on the p!onrst
Nj and other property Of the city, except, Of
course, The market building, selling without Re.
| slrctous, and using the lu6ds thus procured
| 10 purchasing the bonds OF the corporation
Thus at their present value OF fifty cents at lcaa
| three hundrrd and fifty thousand dollars WORTH
Of bonds could be purchased and eytngushel
| But under the lufiuercs Of the present reyenl.
bill these bonds will undoubtedly fall lower still.
| and thus much larger number OF bOnl5 could
be purchased. This mode tho writer believes
should DO rrsoGtcd 10 ony Ia the event ui ih3
| failure OF the u.Xl plan.
Second. The piuu cmbuit'd IN The Resolutions
offered by MIR. Strauss is the one itsl ca cu.teI
to afford pcrMuGeal t1Iirl. l. does not lurar
| rtpuIiaii0u, Tor MIR. ). would iiu.srl; Opruas
| that. |! lurat:a truthful stltcinri! - ul!;
creditors OF Our debts our :.,r"t:. lii Scu2!.t
| condition as town, ANA Is people, y state
mGnl that will show The a,suntr necessity ~
| Immediate prrluanclt rru' Aud lhcn ~. 81
| fer on tie p.lt Of tic c!ly - l,ind i!r Hri ul
|
held by residents ar non lr.,lirn,,, >rthnr II e.
an amount the city II able to bear. Il mn,! IT,.
remembered that whllr the war, 1T rs brelu-
| mug, saw lis happy prosperous people, ila -
minatiOD left Us with little but the Il,GInoly 81
the sacred past. It's fortunes had dcDlerU tn
town of vast amount 81 property winch hal
been the basis upon which tins debt was iu'ui
red. AT its close four year. Interest VA lGc
H0nored citizens compromised their debts. ~
| tainiug (0r glvIug) release VI the Wal lU,En,sl
| The city OF Alexandria funded principal AM
interest with the determination 10 dc: Justly
by It's creditors aud pay the iaM cut II ~ IL
| dtbtGdDess The experience Ct years Ia u
m0usIrllrd the utter impossIhrl''y III tNI'.
| this interest. let W. say 81 10 in" creditor.
| We cannot lay liz Whole Dds! We a4m pN
T. portion Of it, Offer Ihcm ur,,!'r III, !t>1lu
tlCn reduction, u colnproin!,". la any 49,
which the bondholders may icrm proper an:
necessary to secure the paylurnt OF tie d"t"
thus funded be drawn up ANA aicptci. hes
carry cut 10 good faith the agrcrmr": TIA.
made. This is the proposition. 1t may at T.
practicable, but the writer believes 1t Is. Ia,
not Of reputation, that Is neither Isl, h'.'.
n0r possible, for this corporation, Ink al ether
is controlled by the courts, a"I they w!lt ~.
lccl any holder Of mucicipaI bonds, wMr!!is.
or coupons. We must ask Is favor. Mt ii
maud rs q light. a! I'll events We can no Ions"'
afford TO wait idly, hopiag Tor rric'. that !.
death to the town and lu;n - Is people. y
with one accord let Us agilate tnr m2Irn:',
looking for reward III the future, Il reward t"a
shall be ieIt in the impetus gwen to hu:.ai"-
aud manufacture, felt ia the iGcrctse ~. His'
ness, sceu in the happy contcnlcd faces ~ Gu
mechanics, merchants and pr"!ossioHa! '!",.
This communication complete. H." t'~A e.
before the writer III thu beginning. Every ','ia
is the result of tirnl conviction Of the "r.'
lutte necessity Of applying Il speedy vigorous
remedy TO the ills We row sutlcr. Il M!- IN
dcrtakon in the Interest Of no one lut thr e.u
Zens Of our town, with the hope lhai cth"N~
more able than lie would lend the encourage
men! Of their words and Symratislrs to The pIAn
when once their attention was called u VI. !.