Daily Republican., 1881-03-01
rne C1asncaal &nu E1.sa, Year.

on Saturday evening at a meeting OF
few of the leading business men o.
Wilmington, in the Office of + t. Brad
ford, Jr., E5Q., relative to the best piar
to be adoptsd in referenoe to the fisc1
year bill now pending before the Leg
i,lature, sounds the keynote OF VIVA
ia needed in the finances of our city
Amongst the gentlemen present there
appeared to be marked opposition K
the bill now b. fore the Legislature, re.
commended by part of the City Coun
ell, changing the fiscal year from JanI
ary first to July first, and it was graf
fyiug to note that there was opposition
to il from citiz sls Of both Of the leading
political parties. Whatever is done in
the matter we hope may not lie influ' n
ced by political dic'ation for it is a
Gussticn that should stand purely On
its merits. it ia 8 somewhat difficult
question to understand and outside OF
those who keep the run OF the city f.
pances and ne are fearful that We cannot
mske it plain enough for all our read
ers to comprehend, for there is but
Nstle disposition to spend time ia study
ing fnapoial questions except by these
directly interested either politically OF
financially, but in tsw words we vii,
try to condense the matter into g. nu
shell. Suffice it Ito say then the fiscal
wear runsfrom and to the first of JanU.
ary, and the financial year from aud to
the first Of July. When the appropria-
lions ara made they are to cover the
fsoal year, but the taxes for that fa-
cal year are not oollectsble until tie
frst of July, and no appropriations can
be made 10 extend beyond the fiscal
wear. 1t will be seen that no taxes are
avaiIabls from January first to July
first, and were it not that the water
rents were due and collect2ble ~ Janu-
ary frat the city would be out Of
none7 for six months il the year. The
watsr rents however run the city up
to April FIRST, still leaving a gap Of
three months from April first up to
July first to ELL up or bridge over.
This gap was formerly flied by boz
xoeing money or the credit of the city
70 bs paid of wien the July taxes
. anne in, but at the session of the Leg
islaturs two years ago when the float
Ing debt was refunded, clause was
inserted il the law forbidding the City
Council to borrow any money what
ever. How now to get over this chssm
in the financial year is the question.
The plan recommended to the Legis-
lature by Council to which there was
some dissent, proposes to make the fs-
cal year and the financial year agree
by slip ping the fiscal year forward from
January to July and TO fill the three
month"; gap referred to it proposes tbs
borrowing of $50 900 to be paid of in
fou, equal yearly instruments Of sl5,-
QUO each with interest added.
The plan proposed by Mr.. Bradford,
our representative, to the Legislature
and which received the general, though
not unanimous, endorsement of the
company of leading business men in
his ofice on Saturday night, proposes
TO slip the financial year back six
months from the first of July to the
Arst Of January. The difference be-
twegn these two moves, one back and
ths other forward and both to close the
three months gap is this; the forward
movement saddles the city with an eX-
ira debt Of $50 900 which will require
four y ars and high rate OF taxation
TO nav Of, while the back9 ard move
requires loan too it is true OF SoO, Wo,
hut tt . whole to BIZ paid CT out OF the
taxes Of this present year when they
are collected in Jolly. To avoid re-
peating this temporary loan every
wear Mr.. BradfoEd's bill provides that
after this present year on taxes paio
after tire sixteenth of April aud until
tha first of May q rebate OF FIVE pei
cent. Il to be- allowed on those paid
during May rebate OF four per Cent,
during jane three per cent. and July
two Der cent. During August the fac'
of the bill is to be collected, and on al
yamainipg after August unpaid, fv'
mar cent. is to be added. This plal
cannot We Think fail to equalizs tn
payment Of taxes to meet the nesdS 9
the city, and the payments are so al
ranged that there will never be lare
amount in the Treasury as a tempts
ton to extravaganza in the city maj
aoemeut. The money from the tax'
must flow In gradually just about
the city needs it. Under the pfese,
lsn..about 100000 of the taxes al