The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-09-02

Issul .. aL.sL. iL2. g. ,.
In common with all the other true p"i-
tical econo nists, ADAM SMITH lays II doV n
as fundamental proposition in the syst m
Of taxation that every tax ought to be
levied as to cause the least inconvenien'
10 the taxpayers. Founded in sound -
son and genuine justice, the proposals N
should be regarded as axiomaticin national,
state and municipal legislation. Acu &
upon IL Nil three OF these departments N
this country and throughout Europe h0' e
deemed 1t well for the purposes (
necessity in war and IN peace, or OF e.
pedlent improvements, to impose taxes n |
I uch m amer as the citizens should be lep't
is to say by smak annual
requirements spread over considerable
period of time. The city council Of Dallas,
for some ineTplcabIe reason, have seen
proper to take a new departure from this
aforementioned and time .hon0red method
in the matter of levying direct tax To- a
large sum, now beng needed 10
sewer our Streets. This sum NJ
proximates within small fracti
100000. The work for loag time been
considered In view OF our metropolitan
pro PORTIONS not only emiDenlly desirable
but almost q papemount necessity in thr
interest ofhealth, cleanliness and decency
for all Of our inhabitants. 1t is in process,
OF con summation and s being solidly done.
But the resolution Of the'council Ia requ,I-
ind an immediate payment from taxpayer
see n to us unreasonable, harsh and oppfes-
slve. Instead OF oil being demanded In two
yea the time should be extended g.
thirty years. To extract from tie
pockets OF the people Of 40 yonug
a city not yet boasting Of millionaires that
sun within 30 short II period, is asuDjusl as
Il is uuusual. II is known that, averaging
the profits Ofour merchants ana our real.
estate owners, Investments ordinarily yield
"a annual income of 20 per cent. II /,
equally known that monies can be oh
tained from financial centres at per cent
per annum on this ctys obligations. "
b 'comes patent, therefore, that these peoI !,
are enforced TO an ANIMAL loss OF per cent
on the amounts taken from them. Nov
suppose that the city were to issue pc
cent. bonds for the $50 OD
expiring In thirty years, the pes
negotiable time and rate for us
It b nomes. ;clear that we are by Just =,
much the gamers. To make tho calcula
ton to extinguish ths $4,000 indebted
ness in thirty years, would require sink
Ing fund of $1,000 yearly Then on the ~
g ssment basis of o. 0O00OO, assessnbl
m Inicipal values to-day, levy Of or
twentieth of one per cent. would yield So
DO per annum. The interest on the bond
would be 81 ,s00, which added to the sinkin
tund, as above. gives $500, which is som
$500 yearly less than what for extra saict
would be imposed. This one-twentieth 4
one per cent. IL trivial indeed, as under
the owner Of 100000 of property woul,
have TO contribute only $50 per annum.
But this is not all; the bond propositlo
Is still more favorable TO our taxpayers, In
amuch as there would be a constant ar
nual increase of asseesable values. Mex
year the roll will unquestionably show s.
ono 600, nsperhaps II ought to foot up tc
day. And II ia not in the least improbabl
tnat In five years more the values will hay
doubled, or represent Si2OOO,OOO In III
place Of SG,OOO,0OO This would reduce tn
ntribuuon from $50 down to $25 on III
100000, mere bagatelle. In dozsi
years the reduction would possibly no
r'soh over $40,
In consideration Of uniformity an
equality ofinxation there is point not I
I be disregardsd by the fAirminded ciize
Q or councilman, and that il IN case whoi
5 parties own unimproved properties whic
a are immensely benefited by this gter
/ work Of such general aud conceded valu
! u all. The sew6ripg OF Dallas improv,
b their valuations far moie in proportion tha
. II does the properties of many other Ia,
D payers, As right'minded, equity -,oyin
beneticiarles Of municipal car
they ought quite oheeriully I
be prorata contributors, and ne
: seek to be selfish wrong'docrs to their ie
I lows. The "pay-Ss-you-go" policy Ia
. aud and farce In many cases. us an
, practical business man will allow. III
% merchant who would undertake to ptacli,
II would DO an anomaly the banker VIII
j would refund every night tho deposits
|, the morning would soon have no other u,
fr his vaults than as wine.ccllars IL |
should be leit In a condition to buy an
wine; the frpncer who would adcp,
W uld differ hom VANnrsnJ.r, GouL
MORGAN, HUNTINGTON, aud this great "a
eminent itself, and the others rs We
y II is an available catoh.word for the polit
, cal demogogue to play upon tho ignorau
o! the mtscss, or an admirAble sub,erlul
T. carry out certain private u
p v,ntoges, however slngulatly 9
tansive run on tho line
81 limental patriotism II may have ha,
= like that other absurdily, IA nation
h de1t is national blesslng," which ON
:. served ilspurpose In adroit handling I
|. personal schemes.
a The policy OF the bond issue, therefor
v bling so patent, the next question Ia, h
II the city the power to issue bonds for sew'
;. age purpose,p Would such isuc
!, 3, positively and clearly le
that the obligations could
roa lily disposed ola pOr' Let us see. T
d charter permits the Issuance OF bonds
l. general improvement purposes. 7
u amended section pertaining to these sew,
"A | A.. .t...lt4.