, 1879-02-19

0HIOAG0'S FINANCIAL CONDITION..
There seems to 10 Il conspiracy among tho
newspapers Of othor oIsies to o1aggsrato tho
debit Of Chicago aud dwell upon tho nocas-
sisy Of roform in tho City Government.
Perhaps thero il some spite work In all this,
bnt tlAorc nlny bo also BONO misappro!onsion
on tile subject arising from tho vigorous and
successful efforts Of tho Cticago pross tlroe
years ago to rout tho Ax-eaters who wero
fastening themselves upon the Municipal
Government. but tbs fuct TINT those efforts
were thon successful seems to Io pcrsiatently
ignored. Tho blmmors wora defeated both
I'll tho general city ticket mud In thu minority
Of the wards, 80 that during tho past two
years tho City of Chicago las boon managed
with an economy which VIC tliink has scarce-
ly n parallel in any other important city In
tito country.
The Oonplrolier's report for 1873, which
hns just been received in pamphlet form,
furnishes abundant refutation for tho current
slauders ngainst tho credit Of Chicago. Tho
to.a! bonded debt Of Chicago is now ou1y
$13,058.I0o, IN against s43 ,600,00O for Bos-
ton, s:l3, ,00U.0 900 for Baltimore, 500, ,000, 900
for Brooklyn, 328,ooo.000 for Cincinnati,
CG. .0oo, 600 for Philadelphia, SIC, ,0o0, 600 for
st. Louis, and s140, 1000, 900 for Now York.
This singo faet nlono ought to bo a sufficient
answer to tho unjust generalization that tic
City Government Ia loaded down with debt.
As n matter Of fact, tho dobt pcr capils In
much smaller than TINT Of auy other largo
city In tho country. besides this, it cannot
In fx,ar II
State prohibits any debt beyond per cont Of
tho valuation Of taxable property. On tho
contrary, the debt has boon actually reduced
during tho past two years about 500, 1000,
Along with largo reduction in
tho current taxation Of tho past three
yoars, and In spite Of special lilloultios
arising from tho necessity Of koeping the
different funds separate, 30 that surplus iu
ono fund is not allowed to balance n deti-
cheney In another. 1t should also bo statcd
that Of this dabt Of $s1u,0oo,o0o the Water
Works take caro- OF their sharo, which
amounts 10 S4,a5o, 900, and which will ulti-
mately bo oxtinguishcd by earnings for
water-seryice. This brief statement. is
sufficient to provo Tint, financially, Chicago
Is not iu bad way, but on tho contrary ia
In much better condition than most Of tho
othor American municipalities.
Tho City of Chicago IL htIl1 considerably
embarrassed by reason of defective revenue
syatoua, under which tho taxos arc not
collected until eighteen months aftor tho ap-
propriations aro 1nnlo, aud by tho coi,struc-
tion Of Tho lawa 80 aa to provont tile borrow
ing Of money in anticipation Of tue tax.
collections. But, in dofanco of these
embarrasa.nonts, tho tnxes Of the past two
years have averaged s'l,000,0oo per ann,,m
less than tlley Ind boon for so1no yoars
before; aud, during the year just
finished, only 85 per cent OF
tho tax.1evy was expended, in order
to allow for failure Ia collections nxd to bo-
gin au accumulation which will ultimately
emilio the city to pay as it goes. There is
now moyomo,t for changing tho Revenue
law, which seems to bo m oarnest aud prac.
t!gal effort; and. II successful, tho timo will
not be fur distaut when Chicngo will 10 ablo
to pay oash for everything 1t buys and for
all services rendered, and to proceed with a
steady reduction Of tho city debt. II tlero
IL another largo city that can mike as fayorn.
bio showing Of economy and good credit,
We shall bo glad 10 chronicle the faota
Mr. Jo1N WELSH, OUT Minister to Great Brit
aln, has written letter to Secretary EyAnrs
complaining that Ills sa1ary OF el7,6O0 per sa-
mum Ia not "sut3ic!eut to maintain tho dignity
Of ILLS ottice," and asking TINT somo INDUSTRIES
be taken to increase it. Atr. EvAlsTs has seut
thss communication to the 1fouse OF Represent.
lnfju 1,1 III, L. L.,