Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1880-03-09
The CITY debt.

To the editor ofthe Alexandria Gazette:
ln yesterdays paper, under tho hesd of The
City D,bt," there appeared 10 your local COL
umns on article 81 remarkable 10 its statements,
90 grossly urjast to others, that the wil:er,
familiar with the movement to fuod the debt
from its inception. c,unot tut protest against
it. 10 tho year 1877. tho first step YVES taken
by Mr.. Henry Strauss who sitter consultation
with tho writer aud others, offered resolution
10 tho Board Of Aldermen, on the 10Th day Of
July, fer the appointment Of committee to
CONFER with the creditors. and. if possible. com.
promise the debt. Tho meeting WAS held o..
hber 1877, bat no plan OF settlement was agreed
upon. Tho bondholders left the conferences,
however, impressed with tho fact that some
compromise was n: c,ssary; aud this impression
wss lasting one. 10 the latter part Of 1878,
or tho beginning Of the year 1879, a meeting,
called at the instance Of Msstrs Charles L.
loott, William Ii. Lambert. aud f. s. Lead
beaten, wa, held at The CiGzans' N ational Bank,
| at which there were present. besides tho gen
tleman named, Mcaers. s. 4. Boaoh, 8. e.
Ncale. Z. b. L"e, K. Portncr. z. Ilooo,
Henry Strauss. Heuoni Wheat, II. Nj. L,wsop,
aud the wtltrr. Il plan was adopted. which is
substantially embedded in tho bill as it passed
he General Assembly, and was communicated
| to the City Counc. which promptly requested
tho Legislature to pass the bill authorizing tho
iuuding as It has heen iinnlly c)nsummat, d.
The Legislature did pass the bill, aud on tho
lst day OF May, 1879. lis terms We're accepted
by tho City Council, and the bonds ordered to DO
| issued 40 soUn AZ tho proper amounts had ao-
| c'pied It's provisions. 90 tho ID day of June,
| 1879, when Mayor kempcr made proclamation
| to the creditors no stated that 'sioce the "a
| ultimo tho holders of 1896, 250 of bonds aud
$50, Al OF coupons have agreed to accent the
| terms Of this compromise" Before Mayor
| kempcr went out Of offica, through tho active
eXertiOus OF himself, OF tho gentlemen above
amount Was greatly Increased. Since that time
ctalIy MebSrA. HoOli add Lambert, every moDl-
Der OF tho Fioalce Committee, aud every city
officer has worked hard to acc ,mplsh thai
"consumn,aton so dovoutly to bo wished for -
tho settlement Of The city debt. And do not
believe that ovtras;ima!e whom | say thai
without tho reputation OF tho gentlemcu who
Unlisted the scaeme, rs fnatciors and business
men, it would not have succeeded Nor do
again cxagecratn when credit tho active efforts
OF Mes'rs. Horif, Lambert and NJ. B. Harlow
! with heviog pIocured tho assent Of at least 81
per coat. of tho bondholdora to tho scheme. Ii
is n well known fact that all of them spent many
dsys here and 10 Washington, ioducing credit
ors to fund. Aud 10 all this they had the co
operation, support, and great assistance oil
Nlessrs. Burke & Herbert and tho German
Banking Company. Tho present Mayor caused
the bonds to DO prepared, and has been most
diIigent and pAiastaking 10 their issuance and
| delivery. but tho credit of makiog tho com
promise undoubtedly be longs as above stated.
| g. H. s.