The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1885-05-21
THE FINANcE coMst1,r 4.


THE FINANCE COMMITTEE
wrss,lss win the question Of Estimates
and Revenues.
The Council Committee on Finance met
Ut tie City Building last evening iorths
purpose Of examining the various esd.
mates prepared By those committees Of
Council having charge Of Departmental that
are required to make expenditures; which |
estimates were referred 10 this committee |
by Council In accordance with the terms
OF the ordinance recently passed, designed
TO Keep the disbursements Of the city
within the limits OF itsrevenues
There We're present Chairman Hildreth
and Messrs. Peterson, Hoffman and Wa
,terhouse. II was the first time in the his |
tory Of the city that this committee was
eve. called on 10 act in such o matter, and
there was some question as to how TO pro.
coed. There was laid on the table the
last annual statement OF Clerk Bowers, the
pile Of estimatas and several sheets Of
figures prepared by Clerk Bowers. The
proceedings were opened by Clerk CALI
gan reading from the ordinance the du-
ties ofthe Finance Committee in the mat
ter. The estimates being referred to 1t, 1t
must fist ascertain the amount OF money
that will be required under the pro.
visions Of all loan ordinances 10
meet the lawful demands OF creditors
or commissioners during the current year,
and also the amount OF money required
within the year to pay all other expenses,
together with the salaries Of The officers Of
the city whose Offices do not come within
the scope OF the reports already made to
Council and referred TO this committee.
The committee must upon consideration
OF the various estimates referred to 1t and
ofthe additional necessary expenses ascer-
tanned by 1t, the amount OF revenue re-
ported and the additional revenues that
may justly be required 70 be raised
by taxation, report to Council at the first
regular meeting in April or as soon there
after as practicable, the amounts that
should be appropriated to the various de-
partments, etc. And should 1t appear
when the annuallevies are made, that the
full amount Of these appropriations will
mot be realized, then the Committee on
0rdinancesi is TO scale themall down, ex-
cept those for the Water Works and Gas
Works.
Nj. Hoffman at The conclusion of the
reading stated that he thought nothing
could be doneb by the committee until IL
was ascertasned what fate would befall
thenew $500 900 loan ordinance, which Is
to be voted on By the people next Thurs
day, and in this opinion the other menu
befs concurred. Mr.. Waterhouse said
that he feared that the loan would be kill
ed Mr.. Hildreth said he had no doubt
that 1t would be, on account Of the fact
that 1t proposed 10 take from the funds Of
the Gas and Water Boards certain sums to
be used for the running expenses OF other
departments. Mr.. Peterson said he had
not heard that objection urged, but he,
had heard complaints against the Board Of
Public Works that he feared would mill
tate against the loan, and he was very
sorry that II was so, for the loan he con-
sidered an actual necessity for the future
welfare OF the city, and to redeem her
already impaired credit.
/ Tho question was asked what the pres.
emit Board Of Public Works had done that
1t should be abused as It has in certain
quarters, but, this question was not salts
factorily answered. As far as spending
noneyiis concerned the Board as yet has
done nothing, iorthe reason that 1t has not
had the opportunity. n5s
Mr.. Hildreth called attention TO an inn
portant fact It isl the belief OF q majority,
Including nearly all Counciltpen, that the
city cannot tax beyond SO cents on the
500 valuation except for the ten cent levy
fund for new street improvements. This
| is a mistake. The acts OF 1873 authorize
municipal corporations 10 issue bonds and
sell the same, provided that by such sale
the aggregate, debt shall not exceed per-
cent on the value Of taxable property,
which value 10 10 be ascertained by the
last assessment for State purposes.
Nor shall the issue or sale
be made without at the same time pro-
yiding for the collection of a direct annual
tax, sufficient to pay annually the interest
on the bonds and the principal thereof
within thirty.four years. In q city OF
more than 20 900 population the power of
taxation shall not exceed percent on the
assessed value OF all property beyond q
tax for railroad purposes, which may be
imposed for that object not exceeding 8
percent OF such value. Thus, while the
charter names 90 cents as the limit,
the acts OF 1873 not only authorize the tax
above referred to but commands that il be
made. This provision was in the loan
ordinances Of 1876, 1877 and 1881, and had
| It been observed the city would not have
within the past year been compelled to-
see her coupons saved on three occasions
from being protested only through the
kindness Of some of the bank0rs. Mr..
Hildreth's remarks were In the nature OF
a "stunnef to thecommittee,
{ The committee finally sgreed. TO adjourn
till Friday night, May 20. 1t will then DO
known what has become Of the loan ordi.
nance. One member said; "Iiitis lost
then. we had better discharge the police,
iremen and several other officers, and go
towork and pay our debts"
Petluens aud Ieni0nstrances.