The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-02-21
WE HAVEN'T THE MONEY.
SHALL THE CITY ISSUE BONDS AND
FAVE THE sTRnETSe
The Momentous Question Up FOR Sot-
tiement-It Should and 1t Shouldn't
Authoritative Expressions on That
and other Topics.

and solved by the people OF Memphis.
Startling it is, in the face OF previous out
lays and fancied immunity from wreclSage,
but il has nevertheless become live and
paramount issue. The proposition to issue
bonds, raise g, 900, 000 and put the streets
in first class condition, was made in all Sc
robustness by the gentlemen credited with
the originality, despite general impress
sion that they were in jest. The question
is, therefore, whether the streets shall be
allowed to disappear under dry rot, with
only childish efforts to preserve them with
the annual budget, or shall the loan be ef-
fccted? There are good men outspoken on
both sides, while others are yet halling be-
tween Two opinions.
Mr.. John J. Barry Is not one oil the lat
ter class He believes in redeeming and
maintaining tho streets at any cost. His
Argument is, that good streets contribute
incstimably toward making great city,
and without them no city can prosper and
flourish. lie insists, also, that cities, like
successful banking and commercial estab-
lishmcnts arc and cannot be run upon
strictly cash methods. st. Louis, Chicago,
Cincinnati, he says, have outstanding in
debtedness almost beyond their own
knowledge But they have invaluable as
sets in the shape OF internal Improvements.
Commenting on card writer's statement
relative TO recent resolution passed by
the Legislative Council, authorizing the
president and city engineer TO 60 ahead
and repair the streets, that their actions
would be illegal and more indictments fol-
low, Mr.. Barry pertinently said; "The
object Of all laws is public good. In this
case, public good demands that the streets
be redeemed, and for one believe in 60
ing ahead with the work. / do not, how
ever, believe in pieccmeal methods,
az the money and labor 80 ex-
pended would be wasted. Going on
rs at present, in ten years we
ing 10 show for II. BY doing the work
promptly and substantially property val
uaiions would be increased, the city would
grow and the debt would be easily wiped
ont Capitalists who buy the bonds care
moro for the interest than the principal,
and ii u little delay in taking up the bonds
were unavoidable, they could whit These
people who tear their hair and cry ruin
atom whenever the question Of issuing
bonds is raised, remind me Of the fellow
who ran around until his wind was ex-
hausted and his tongue hung out. In an
swcr 10 friends questioning as TO why he
so excrtcd himself, the fellow said: I've
81 900 note 20 take up this morning. Go
quietly about your business and let the
other fellow do some OF the running was
the sage advice"
As 10 whether the latter line Of argu-
ment applies 10 the paving bonds the pub
lie must decide. President MADDEN sup
plies more facts and logic for the public to
digest. An ApPEAL reporter encountered
him nj the police station yesterday, and
the Tycoon sat himself down and
meckly Submitted to reportorial interroga-
tories.
What think You, noble duke, OF the
issuance Of 100000 bonds for street
paving purposes" began the reporter
az have not fully determined in my
mind whether the proposition is good or
bad. My mind is made up, though, that
the streets need repairing and paving,
aud that we haven't tho money 10 do the
work. II the people want the city run
without money We can come ~ near doing
IL rs anybody You ever saw. But In this
event they mustn't expect radical i'm
proycments and complain II they don't got
Them. will bc gratiiled TO receive in
struc,ions from the people, and promise TO
carry out their behests. In case am cou-
suited by them on the bond proposition,
my pioscnt impression IL that / would
urge the issuance Of not exceeding 81 $780,
600 in bonds for the flrst five years. This
would bo sufficient 10 keep us going In
good shape for that length OF time. After
that II would he easy 10 determine just
how much more was needed and save in.
al. has n all
is that the bonds should not carry more
than per cent. interest"
"What do YOU think Of the policy Of
other cities, In making property owners
pave the streets, in addition 10 other legiti-
mate taxcs2"
"We'vc tried that, and Il won't work.
When the Nicholson pavement was laid,
II was ordained that owners should pave
in front OF their property 10 the middle Of
tive street. For the amount thus expended
Ivy them we issued bonds TO them, aud
these wero receivable for taxes. II de-
ycloped ere long that taxes were paid with
these bonds, their value dropped TO about
20 cents and we had no money 10 run the
city. This state Of affairs led 10 n repeating
Of the charter and the establishment Of the
Taxing District form Of government Then
Dir. Brown sued for the money due him
for the Nicholson pavement The property
owners insisted that the streets belonged
TO the city, and II was no more incumbent
upon them 20 do the paving, because they
Glanced TO have buildings along them,
than the man who lived in the suburbs
Tie courts gave judgment against the city
So you see the experiment won't work"
''llow does Cincinnaii's plan strike your
II you remember that city issued $1,000.
600 in bonds, half Of which Is assigned TO
the property owners, outside Of the usual
run of taxes"
81 don't know about that; II Il suits the
people II will suit me. In that connection
! can say that II II bc decided 10 issue tho
bonds, will be in favor Of paving iirst
those streets along which one-ihird OF the
necessary amount IL raised bysubscription
For example: II We had piece Of street 10
pave, the cost OF which would be ST5, 900,
The property owners should subscribe S25.-
OO0 That plan has prevailed In great
deal Of the paving already done here, and
II IL good one"
"what do you think Of asphalt pave.
menb?"
~ believe Il would do very wcll?"
"1hcn why don't the council try ~"
'Io establish plant 10 do asphalt work
would cost about $4,000. No company
seems 10 be willing 10 spend that amount
and run the risk Of getting only about
enough work 10 pay the interest"
"What do you think Of wood rs paving
materialf"
"lcd cedar blocks, laid as on Union