The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-09-11

Vote Down tho Funding Ordinance md
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Vote Down the Funding Ordinance md
Make IN Example.
To The Editor Of he Iuitllignoer.
Sln:-I have noticed that both the H.
rELLiGEScER and the Rsgister advocate the
adoption by ourcitizens OF an ordinance to
fund the floating debt OF this city by the
issue OF 100000 OF bonds, and that both
papers present the matter as question Of
more or less interest merely, on delft
already Misunderstanding it substantially
thus: Is it not better to fund at ~ per-
cent interest debt on which We now pnv
percent interest? Viewed in that ligh,
alone, the answer admits OF no argument,
But that is only superficial view OF the
matter, Tor the real question to be decided
il Of far greater significance, and is this,
shall we now by our votes confirm. q svs-
TEN OF extravagant and reckless
Expenditure which inevitably leads
TO financial ruin? Whether pac-
ticed by individuals, corporations
or municipalities, the result Of expendi-
ture beyond income is bankruptcy in the
end. But the 1STELLIGEScER has said
that We may enlarge the city revenues bv
obtaining legislative authority to increase
the rate OF taxation. The suggestion is
unfortunate though not surprising, for it
is the legitimate fruit OF such financial
management as is now being considered,
and would not have been made, l think,
after careful consideration OF the lisas.
trous results which would most certainly
follow its adoption. It is asserted, and I
Ii mi
i'll this country is taxed more heavily than
our own already is, and that very few
cities bear even so great burdens OF taxa
ton; and it may be stated us Il fact that
the taxes now levied in Wheeling are
quite us great as our property will bear,
and to increase them would in.
evitably result in the depreciation Of
NIL classes OF property in the city, and drive
capital beyond its border. This is no idle
declaration but statement OF fact justified
by our own experience, and that OF other
cities, us witness Elizabeth, n. J., Mem.
phis, Tenn, and others that might be
named-and the time was, within my own
recollection and that of our older citizens,
when their property in Wheeling was al.
most valuelcss because OF the burdens of
public debt and taxation, and Il house and
lot could hardly be given away. In fact
the place was paralyzcd, and I'LL this the
unhappy result OF previous rccklessness in
creating debt and rolling bonds. But it is
not pleasant to recall the depression and
gloom which then prevailed in Wheeling.
and which was finally overcome only by
the notifying cxpcdient Of compromise
with the city's crcditors-a mild kind OF
reputation ill.naturcd people may have
called it. II is but 4 few years two or three
or tour) since this same system OF finance
INDUCED in by more recent City Councils,
piled up q floating debt which VIZ were
asked to fund, but rejected by n very de-
c'dcd vote, administering just rcbuke to
those responsible for its creation. After
ward It was d second time presented for |
vote OF the citizens, and only adopted BY
then with the distinct understanding;
reiterated again and ag:in, that thereafter
ne city uouht keep within lis income. How
that has been done We now see when in 80
short 4 time VIC are again called upon TO
provide for n tloating debt of 100000. If,
with such experience, VIC sanction 4 sec
ond time this reckless and illegal tinancicr-
Ing by voting for the ordinance now in
question, We may rs well yield to the CITY
Council and Board Of Public Works ali
authority to do US they please with our
property, unrestrained by laws and city
charter. The Boardof Public Worksshould
be abolished, or reorganizcd upon different
principles, for with the loosely limited au-
thorty which it now seems to possess, and
The free exercise OF it, the Board is n con.
slant mcnancc to the city finances; aud
with. present experience would DO voted
nuisance generally. But the debt VIC
arc now asked TO fund does exist, and
whether created legally or otherwise it is
nc act OF our agents, and should in honor
De paid !; hut not by voting for the funding
ordinance and thus sanctioning the man.
nor t q the debts creation, and Establishing