The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1880-01-28


Mr.. EDITOR Our Board of Freeholders
met at Pennington, on Saturday last, called
together to consider financial matters.
The Finance Committee reported to the
meeting that i was found to be irnpractica-
BILE TO arrange the county Indebtedness on the
plan of the resolution of December 10th.
1879. AAelf ~
AS the Finance Committee as we'll as Col
iector we're without doubt opposed 10 the
plan, the result was not so much OF a sur
prise as it might have been. The meeting
voted to reconsider the resolution of Dec. 10.
1879, but were first treated to an opportunity
to vote again on the proposition to issue
per cent. bond on Which to raise money to
pay off the county debt. OF course it was
voted down--13 to A. No pretence whatever
was made that the money could not be raised
on a legal and proper bond. In fact, it was
admitted, and good reasons were shown that
in all probability the bonds could be sold at
premium, but the clique of upper end man.
ayers having started out with the purpose of
carrying their point, without giving reasons
therefor, could hardly be expected to yield to
such an influence now.
The resolution of Dec. 10, 10, provided
that f the present creditors of the county
did not agree to accept 5 per cent. for their
loans, by the 10th of January, 1880, the Col
lector should give further notice (Which be
never did that the county wanted SO much
money (being balance not agreed for) for
:. ha
SO as to give outsiders chance.
When called upon, the Collector reported
that he had received notice from the holders
of about $8s, 900 that they would want their
money next April unless they could have 8
per cent. This weeks Hunterdon Democrat
for their money, but how they mako $38, 900
large majority of 500, 1000, your correspond
ent cannot imagine, unless it is on the same
plan by which they figure election returns
away out East
As offers were reported to the meeting of
some 10 or 10 Thousand dollars to loan the
county at the rate of 5 per cent. per annum,
either on bond or note, conditioned only that
if per cent. should be paid other creditors
they should have the same, it was thought by
some that it would be no more than just that
as $38, 600 was asked for the LIST of April next
that the Board should take Of these outside
parties who were willing to run the risk Of
getting no more than 8 per cent, and SO far
as Ii would pay off the others.
A resolution to that effect, under similar
circumstances would quickly pass In most
places but stood no chance at all in the Hun
teriou County Board Of Freeholders.
The old argument that the debt was 10
" good hands " and should not be disturbed
came into play again, and perhaps the recent
investigation in Somerset County where more
debt was found than had been reported, may
have suggested unpleasant thoughts in con-
nection with any change in the state of aft
fairs.
An attempt was also made to pass meas
ure requiring a more thorough examination
of bills before payment, and giving the whole
Board chance to know something about
how the money was being raid ont, but 1t
met with no more favor than other efforts in
the direction Of economy and system, and so
the present loose, extravaganza, un6usiness-
like and in many respects unlawful methods
are continued by the misguided and mnlish
ma iority. REPORTER.