Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1885-09-28

hand who are in favor of whatever is
needed being done and paying the bill as
the work progresses, and who are unalter-
ably determined not to run the city into
debt; while ON the other hand
is a class that cares little for re-
suits and is perfectly willing to
mortgage the future s5r present gain.
1t is simply impossible for an outsider to
determine from the press of that city
whether the dire necessity exists that the
San Francisco Chronicle insists upon, and
the San Francisco Bulletin as hotly denies.
When the former journal advocates a
scheme for the expenditure of public
money it is safe to suspect that there is
Eself-interest behind it, and plan to line
some private pocket. 1t will occur to the
thoughtful man that if the sewers are in
such condition as is represented by the
Chronicle, which seems to have had a
sudden revelation on the subject scientific
inquiry alone should determine the need
for reclamation, and it could be determined
very readily and without heated discus
sion. Certainly there should be no rush
ing into debt on mere newspaper conclu-
sion as to the need. We in Sacramento
are in condition to speak advisedly of the
danger of bonded indebtedness. A city
can scarcely do worse than to mortgage its
future and tie the hands of posterity. As
rule, the interest city pays on its ac-
Communications would accomplish all that
is desired to attain by the uses of the loan.
We have found out, for instance, that for
every dollar we got in the past on credit
we are compelled to return, with something
like one dollar and eighty cents on top of
it. That is paying very dear for the
whistle, even assuming we marketed our
bonds at their face value, when the fact is
they were slaughtered in large part for a
few cents on the dollar, and none, we be-
lieve, brought more than sixty cents. with
the solitary exception of one small lot still
held by an original creditor who took the
bonds for his debt, dollar for dollar
Viewed from the outside, the one-twelfth
principle operating in San Francisco is a
very good thing and is wise device to
keep the city out of debt. If it is broken
down, as the expenditure rings desire,
there can spent all the revenue, leaving a
deficit at the end of the municipal year that
will entail heavy tax, or the issuance of
bonds for the interest of which taxes must
be levied for years to come. The men
most to profit by such an outcome are the
contractors and the money-lenders and
their advocates, who pioneer the way for
them. We do not know of an instance in
which city ever overlook its debt within
a reasonable sum in excess of the princi-
pal. Generally cities are never so lucky
as to catch the debt at ALT is a fleet
footed monster, outrunning all pursuers
and feeding upon them at the same time.
The chances are that if the people of San
Francisco could vote directly upon the
proposition, they would vote unhesitat-
ingly for sufficient tax to be levied to do
all needed sewer work, and to protect the
health of the city-that is, vote to borrow
of themselves and give no note. NUM-
cipal debts in the United States in 1890
including township and school districts
amounted to S697, Ass, SCI, or nearly three
times as much as all the State debts of the
Union aggregated. The net city debt per
capita is from 81 GO in the infant State to
Sl27 in the District of Columbia. The
average is SOL 90 for the city debts of the
Union alone. The usual thing is for the
city that plunges into debt to bring up in
practical bankruptcy, of which the city of
Memphis is such notable example. As
a rule, too, the tax-eaters, thieves and
public plunderers favor city Indebtedness
and have no conscience regarding the
amount contracted. 1t is good thing to
have city pay as it goes, and the provis-
ion which San Francisco has in her
municipal law, combining expenditure each
month to its due proportion of the whole
revenue for the year, is an admirable
provision, and should be abandoned only
when the necessity is so great that there is
no other possible resort for the warding off
of great danger. Such imminence should
be ascertained beyond all controversy, and
by non-political, bipartisan and wholly
impartial methods. In San Francisco II
Is very much involved, and no jury of pub
lie opinion could possibly render a verdict
except of disagreement OF this, how
ever, it could be assured that when the
San Francisco Chronicle grows red in the
face with blowing moral coal into a
name, or In an apparent effort to conserve
the public good, the chances are that it
has Its own private end to subserve. So it
behooves the people to look about and ask
themselves where the pickings are to come
IN. 1t IS " none of our fight" but we can
not stand idly by and not warn people
against city debt and city bonds, when a
course of conduct is proposed that will
land them among the money sharks and
the tax eaters. In nine cases out of ten
such schemes are designs upon the treas
ury In nine cases out of ten mere cost of
going into debt will pay city for all she
expects to gain by it, and will, in addition,
meet the cost of all her permanent i'm
provements, and permit her to spend a
right round sum for adornment and works
of purely esthetic character.
PARLIAMENT admits the service of Mr.
Stead to the English nation by amending
the Grimes Act SO as to lessen the dangers
that menace female children in England.
On the heels of this public acknowledge
ment London magistrate holds Mr..
Stead for trial for technical assault
made in unearthing the crimes of English
Turks. This same magistrate takes occa-