The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-05-07
The City EinanccS-DutJ OF Coun.
ell

There are two courses open to Courcil
to pursue this year in the management OF
the city finances. One is to go on in the
same reckless and improvideht manner
rs last year, authorizing expenditures
regardless OF the lack of money to pay
them: and the other is to riSidly
hold down the expenditures to the limits
oi our receipts. One or the other policy
must be chosen right away. The prnci-
pal committees have made their reports
recommending the expenditure lin the
aggregated OF much larger amount Of
a0ncy than the city can possibly COM
naHd out Of her receipts after the pay
meat OF the portion Of debt Interest and
principally that fails due this year; and
hence said expenditures, ii authorized, can
only be met by Issuing city orders
instead of paying cash, as we did last
year, by an over check on the bank,
We may remark, incidentally, that
there Is no danger Of our paying
anybody very soon again by overchecks
on the City Depositary. Good as the
City's check may be at any time for $780,
900, there is no bank in the city that is
willing TO tie up its funds in loan ofin.
definite duration like a city oyercheck,
and hence in order to go beyond its re-
ceipts this year the city will be compell-
ed to issue warrants on the treasury,
These warrants become interest bearing
a. soon as they are presented to the Re.
ceIver and accepted BY him, and he must
either pas or accep! them. II We Issue
them We simply create an interest bear.
lag deb: that becomes at once u charge on
tue public revenues, for the holders OF
them will sell them at discount to those
who will pay their laxes this fall in these
orders, and thus We really endanger the
whole fabric OF our credit as regards
ways and means for meeting debts al.
ready due.
ltis we'll that Council should look the
situation squaroly in the face and prepare
itself for year Of rigid economy. The
Finance Committee alter close canvass
Of the whole subject Of receipts and ex.
pcnai!ures for this year, have made up a
careful estimate showing that the former
are not likely to exceed Sl6l,O 900, and
tina! the absolute minimum OF our neces.
'aFy and inevitable expenditures must ex.
eeedSl5OOoo. lnthe rough, these neccs.
'ary expenditures arc $4,000 for the
payment ofp'incipal and interest OF city
"eo'' $4,000 for salaries; Sl7,50O for
miscellaneous N. expenses; Sl4,5OO for
Water Works. $4,000 for lights, and ST..
Voo for the Fire Department. Add to
'oe'e such other expenses as the
ctsy's contract for cleaning the
streets lS2,0Ssl and the scbelI ipdr.
msnt and costs (sl,sOoy; and we 'S have
sum total Ot'over Sl5SO 900. These ar.
Penditures leave nominal balance of
about $4,000 in the treasury, out Of which
must come certain expenditures already
ordered, such as .he!repairs to the Stone
bridge on Main street Isl, ,5OOy; repairs to
the Eth street bridge (SlOOj; the filling
on Virginia and Huron streets $1,000,
paving around the Capitol (S2, ,2OO), and
aeT carbinS,.on Market street to Tho
amoun, Of $500.
Alter the .paymen. Of these expense,
there is left next to nothing for sueb inn.
portan' expenditures as repairinr ,ox.
e1' &c. So that any one can zee at .
glance that there will be no money what.
ever this year for any new undertaking,
10 the way of new bridges or sewers, or
Aay such projects as the caldvell,. Run