Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1886-01-29
ANOTHER Low

sloners held on tuesday, the question Of
the advisability Of P"titioniig the L-g
islaturc pass an en- bling act author
ling the County Co dini>sien,rs TO bor-
row money to li1uidate the present out
,.tniing Indebtedness Of the county,
discussed at some length by several
.lrge tax payers and other citizens of
lie county present at the MEETING. and
resolution was adopted favoring tie
pass &c Of an act permitting the Com
ni~sioners 10 borrow sum not to cx-
ced about $4,000 at rate Of interes'
no. to exceed ) per cent. per annum'
$4,000 of which to be appropriated
toward liquidating the bonded indebted
ness Of the county, and the remain Ter
to be used by the Commissioners to meet
a,y deficit that may be found due IN
the current expense account OF the
county for past years.
The portion Of the resolution looking
to the rcfunlins Of the bonded indebt'
elness Of the county at lower rate o
in,eres Is wise, because it brings
about saving to the county and there
by reduces our taxes to some extent
Tfis ,huull have been done long ago
rvo years ago We called the attention
If the County Commissioners to TIM
matter. and a. their suggestion had al
act passed empowering them to borrow
money for the purpose, but no further
notice was taken of it, and The
act remained a dead letter. None!
be had as easily at 3 per cent
as 6 and therefore to continue loaesrtl
pay Ike latter rate on the indebtedues
Of the county is doing the people an in
Justice, and not business in any sense 0
the term.
As to the other portion Of he resoIu
ton relative to the borrowing of an al
diional sum to pay of h'
lcacit owing by the county, Their il
great doubt Of its practicablity.
To Us it seems their is no necessity 0
borrowing any money at all for TIL
purpose The amount owing by tb
county is very small, which coul
5e levied in June without perceptibl
increase in the taxes, and surely sOm
satisfactory arrangement could be mad
vi Ii the creditors of the county b
which they would be willing to wait IN
Ill the levy becomes due. The dedcl
as shown by the Rasch statemef
which we presume is correct, is OnI
Sl.139 OF, which in addition
the regular expenses of the count
would not increase the taxes two cent
on the one hundred dollars at the uel
lew. And then if proper steps yer
taken to recover the deficit for which ID
bond Of the former clerk to the boari
answerable and responsible, taxes mex
wear would be decreased in the SAM
proportion as increased this year. |
hnSGzGr Gsasssat.s
the sum of 81, i39 OF only ought q b
borrowed, and that on as short time as
: possible-say two years The de6cit could
IS be realized in one year, in time to meet
Is the loan out Of the clerks bond. This
{ seen to US preferable to saddu5 uponthe
: county an increase of life time TO-
a debtness. 1t may be the desire of tie
!, present board of Commissioners at an
r early day to liquidate the Indebtedness
proposed to be contracted, but they will
fad difficulty in doing so, became
0 they have no tenure in the
! Office they now fill so we'll
. The personnel Of the board is
o always changing and their successors
h., may like their predecessors be content to
o pay the interest on the Indebtedness Of
I the county and have no disposition to
pay the principal sum Debts are much
5 @asier contracted than liquilated, aud
{ from sound business point Of view tits
much better to steer clear of such bur.
dens however great the temporary dis
I advantages Rccessitated thereby NAV be.
Just so soon as another loan is obtained .
to run for longer time than the term of i
E the present board of County Commits /
soners, Just 50 sure will the indebted ,
ness OF the county be increased not to be |
E paid of in the next ten years to come.
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