Daily Republican., 1881-02-28
FIFTH E0irloy
the CITH's FINANo1.,l

~
.'i'u'e Cor 'ne rl.ss, a..
a conference Of leading ~
men ofwiluingtOn was b.ls :. '' !.
ONO. Of Representative Ra.''
Bradford on Saturday evening =
purpose Of considering thu ~
matter Of the city's hnsnOss 'mpo
those present were James a.. A
D. Adams, Senator Edward jR' s,.l'
q: Baker, Councilman Ms, Is''
Richard g. Gibbons. VIM ' q ~ \,
VIM. Candy. NAB lon M c ~ GSe
MaOallistsr, E.q., and otS S.a''
presence Of these sentlsm W'a'n'
requested by Mr.. Bradford M
ject In SO doing was that sn1 saas
diversity of feeling in reaS,a
city's finances and tia, ,bsr ,a
position to both OF the t two r,.a
now proposed, he felt as ops ma ~ a Y
resentsttves from wilmips,v"lna ~
Legislature that q good BIZ ~ ~
bility rested upOn him as to y th asp pa'
with reference to making A Sl, "
the oity's fiscal affairs, and, I ,haals
desired to take counsel and ,s %e'sa
men OF sound business iudgmsr ,s y
Mr.. Bradford laid before tSs'.
tlemen the rough draft Of A hin ''
he had and which contained r usv W y
with reference to the matte, ' 49,. "a
his own The plan proposed ' ~
Bradford was of a nature vb,.?
avoid changing the fiscal vs, ."a
in brief, to this effect: Tbs H.. \
commencing the collection az W. "Os ~
taxes Is changed from the fra, !, Wy ny
as at present, to the middle Of I " Ia
order to have the taxes coma H. Lp, y
the water taxes are exhsus,ad W. Nv
claimed that the water taxes NIL,
the city up TO that time. Thu M. u
taxation having been fixed, n. S W.
ment will be induced by wha, !, n.y., N
as . sliding scale of discount. Ts,.
paid after the 10th Of April and t'n
the 6rst Of May to receive A dj,M r Dv,',
3 per cent. from the face Of ,Hs III,
those paid during May, a dIscooo, v =,
per cent. ; those during June , A.,
count Of 3 per cent. those during mi,
a discount OF 2 per cent. Taxes ,,D !.
paid from the frat Of Angus, IN n a.
city election, the whole amount s,,
collected and no discount being ch,,r5
and after that time 8 per ceut. viii /.
added to the face Of the bill, as A, NM
emit.
The induOenent which this voulda.
fer for the gradual paynen, Of ,,,s
can be seen at glance. Itwould k,s
the city supplied with money du,iu
the whole period and would braves,
the immense accumulation Of money n
the city treasury because of the p,,I
msnts made in the single month
July to secure the ) per cent. disOOu,t
"a the payment could be more gradul
In other words, the induoement nui
Tor the payment Of tSxss in April
not so much greater than that for d
payment in May tina! all the NOM
would be paid in the former mOn,
And go all down the sliding scsle-,
Of discount would only b d
per cent. less in the preceding mont
whereas at present there is a difNsu
ot per cent. between payments
July aud in August, and 10 per ed
between payments in July and sspsl
Der.
This elastic system, which will th
provide for the gradual pSymsHipf
taxes has in addition to this The Esis
y argument that 1t will be ul:h slli
1pon the poor man.
But further than this, it is argue
i will put the city upon a cash bl
and will entirely do away with The
,essity Of borrowing for any cause,
,ept in cases OF dire emergen
caused by some unexpected mlshsp.
OF course il the proposed act is pa
ID az the present session, 1t ia stat
I could not be put into operation
Tear, as there is not sutt Gent TIM
Irrauge all the details, and, hence,
necessity still remains for the bH
ng over Of the gap in this year
ween the time OF the exhaustion Of
Tater taxes, and the first Of Ju
However the necessity for this
rot exist after this year under the p
'isions OF the new scheme. Ii 10 p
,osed by Mr.. Bradford to hsvsths %
100, which will be necessary 10 brio
'ver the gap, borrowed for only \
hree months-April, Msy sDd June
md to have this account included
he appropriations for the year, TO-.
paid back again out Of the taxes .ate
July.
In this way the additional burdsn
which was proposed Of having thss6e,
100 paid back in four equal install
nents reaching over four years, WIN
.voided and only the interest Tor ID
lime the money ia used will have Mp
,orne by the people outside Of I'd
urrent expenses OF the city.
The plan will also be Of interes,
he Board of Education in enlOi'n
hat body to secure Its desired ssa
ional appropriation Of 500. wv
dea with reference to this is 70 li
he city dsiray the school expenses y
( direct taxation in the sans laan''
s the city expenses are betrayed
Now the adoption Of the Elan, na
az the money to bridge over
months Of April, May and June,
BILE directly ont Of the taxes o.
anne year will thus prevent q NV.
,urden Of SIS, 900 to BE- paid pseA
lie next three succeeding yeSr''
he citizsns will be better able 70 W.
he Board OF Education tU receis
money they desire in yearly iI'A
aents Of $4,000. ,u,H.
After Mr.. Bradford had suun" ,.
lis scheme to the gentlemen Pr.
nd explained it to them tns,s
ute a long and general dis 'sai.,
n the end quite q large ms)oi, "a
hose oreseat without regard 70