The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1888-01-13
AS TO BORROWING.

dppEUpEaHlIOQb IOI GdplGOl DultulHSS
insane asylum, Deseret University
education of deaf Uautes and day nur.
sery and orphans home, advises as to
all these save the airst mentioned 1.-The
making of loans and issuing of bonds
He says: The expenditure. if made
is not alone for the present, but for al
times the benefits conferred would
inure to future generations long after
we are gone" The Governors logic is
ali right-the argument being conolu
sive, provided there is occasion for bor-
rowing. Bat do we want to borrow
Frankly. The HERALD thinks not.
Not because of fear of public debt,
nor because the policy of public Dor
rowing is believed to be wrong. On the
contrary, our belief is that q public
debt is by no means bad thing, if it
has been created for public improve
ments, and the money has been hon.
estEy and wisely expended for the
public good. No generation can pay
for all the permanent improvements
required, and it would be unreason-
able to ask it to pay as it goes
for such public institutions as
are to continue for all time. Let those
of the future bear their share of the
cost of those advantages which they
will enjoy equally with US.
But because it is right, proper and
equitable to borrow for certain pur-
poses. is it wise to borrow when the &C.
casion for it does not exist? Is there
occasion for creating a public debt at
this time? We assuredly think not.
There is certainly no sufficient reason
for borrowing for any of the things rec
commended by His ExcelIency. There
is at present in the Territorial treasury
more than $4,000, which sum will be
Increased to fully 5000, 900 within the
next sixty days, or by the time the
Legislature shall adjourn. Before the
coming together of the next Assembly
another 100000 or more will be col
iected, even if the present rate of taxa
ton shall be continued. This will make
at least $400, 600 to be disposed of by tie
present Assembly and expended during
the years 1888 and 1889. Is it
not enough to pay the current
expenses of the local government
and for such public improvements as
the community cares to make? No at
tention should, and none probably will,
be paid to the suggestion that Capitol
be erected. There is little or no neces-
sity for such building, and the senti-
ment of the people cannot be in favor
of a large expenditure for show pur-
poses. The Capitol being out of the
way, the Asylum, University and SO on
can be literally provided for without
resoruing to borrowing.
There ar comparatlyelyfeT improve
ments of a public nature which should
be m lde charge upon the Territory.
The fewer Territorial institutions we
have the better. Let the counties and
the cities providefor themselves, max
ing such improvements as they think
they require and as they are willing to
pay for; but do not tax the Territory
for those things which ara enjoyed
only by portion of the people.
If the Legislature will increase
the borrowing power of the
cities and the counties, under proper
restrictions as to the expenditure of the
money and the payment of the loans,
it will go far enough in the way of pro-
viding for public improvements. Salt
Lake wants money for sewerage, for an
extension of water works, for the i'm
provement of its streets and parks, and
it wants authority to issue bonds; other
cities may also desire similar authority
for like purposes. But as these inn
provements will be purely local, the
benefits from them accruing to the
local communities, the credit of the
Territory is not to be drawn upon in
the matter. These municipal debts
should be created, if at all, by the peo-
pie who are to pay them, and in whose
behalf the expenditures are to be made.
If the people of the Territory want the
Legislature to create debt for any
purpose, let them say so, which they
will promptly dc whenever the
sufficient occasion for it shah arise.
Until some better reason has been
shown for bonding the Territory The
HERALD will be emphaticaily opposed
to the Legislature mourning any obiiga-
ton that cannot be met by the current
revenue. If it shall be shown that the
revenue is insufficient for the public
improvements and institutions which
are essential to the general weIl-being, |
let the tax rate be. increased rather
than borrow for the sake of being ex-
trs7agant.
AN EXCHANGE suggests that Sadi-
Garnet, the new President of France,
petit on the Legislature to change his