The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-01-06
THE LOAN ORDINANCE.

The City council last nlgnt aooPteo
an ordinance, subject to.the ratification o
the voters of the CITY, however, providing
for the negotiation of loan for tht
amount OF $l20, 900 to pay of the amsun
overdrawn on the Exchange Bank and
other outstanding indebtedness OF the
city. As will be seen from the report q
council proceedings in the local columns
of our paper, city bonds bearing 6 pei
cent interest, are to be issued and sold un
| der the direction Of commissioners named
! in the ordinance, who gave bond to the
city for the faithful performance OF their
| duties. The bonds are to be issued IN
the denomin alton of $500 each, and made
payable on or before the lst day oi
March, 1907, the interest being paid on
the 1st of March and September of each
year, and are exempt from taxation under
authority of the city of Wheeling, the
city, however, reservlng the right to re.
deem at its par value any one or more OF
said bonds on or at any time after the lst
dsy of March, 1887. 1t is provided that
the bonds shall bot be sold for less thar
| their par value in cash.
It is unfortunate that the city, owing
to loose way of doing business, ha'
been permitted to be driven to the neces-
sity OF making up so large deficiency,
but as it is upon us it cannot be helped
by bewsiling the misfortune, and the
only sensible plan to pursue is to go TO
work and wipe out he Indebtedness.
We feel satisfied that the best way to do
this is to adopt the ordinance submitted
by the Council and negotiate loan for
the purpose. A direct taxation for
the purpose of liquidating the debt
would be an an extremely heavy
burthen at this particular time. We
apprehend that there will be no difficulty
in negotiating the loan, and thus we
gain q little breathing spell while we are
enabled to meet the obligation by q
gradual process. 1t is a bitter lesson,
but we hope that 1t will prove profta-
BILE one to the city in the future.
No debt can be created by the city for
this purpose under the Constitution and
laws OF the state until the question and
all matters pertaining thereto have been
submitted to the qualified voters and re-
ceived three-hfths of the votes cast at
such election. The only provision made
by Council for submittir { il to the vote
OF the people Is that contained in the
last section of the ordinance and is in
these words.
SEC. IA. This ordinance shall take effect
from and after its ratification by the
qualified voters of the city of Wheeling
at.n election to be held on the 25th day
of January, A. d. 1877"
1t seems to US that it will be rather a
difficult matter to take the sense of the
voters under that section, and make it
hold good in law, in case the issuing OF
the bonds should ever be contested in
the courts. 1t Is true that q charter
election is to be held On the 18th Of
January, bat the sectiJn does not
say so; it merely says Eat an elec
ton" without specifying whether it i.
at the charter election, county election,
State election. or AN election
of officers of some corporation. Again,
who is 10 open polls for the purposes
The section does not direct the officers
conducting the charter election to open
polls for the purpose, as it should do,
but is silent upon that point. Again, il
polls are opened, how are the voters &c
express their sense? How are the ballot:
to be prepared7 Will the voter have
written on bis ballot "For Ratification"
or For Rejection or have i,
"For Ordinance" or Against Ordi.
nance" or "For Loan" or "No
Loan" or will he be left to express his
intention in his own words, and then
leave it to the supervisors of election &c
guess at what he did mean. 1t is Ger.
tainly a very loose way OF submitting a
question to a vote, and especially when
so much is involved. The Council
should see that the vote is taken properly,
and specifically declare the manner in
which it should be taken. There is another
poin. to be attended to, and that ia the
publication OF the ordinance. How are
voters TO know upon what they are
voting, unless the ordinance is published
l, seems q penny wise and pound tool
ish policy" TO economize the expense of q
little necessary advertising after running
the city into deb. $4,000. In order
to vote intellig emily upon the rs,ltica'
,ion or rejection of an ordinance, the
voter must at least have an opportunity
to read it. Let the question be properly
submitted and then let the people raiiiy
it rs We believe il is to the Interest OF the
city that they should do.
Charged with Forgery.
CIScINNATI, January 5.-W. j. San
ford, city clerk of Covingtou, Ny, is
,ha,,a3 he Mr. Shinkle President of the