The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-11-18
IT TAKES MONEY.
Do People Of Memphis Want a City2
There Is But Ono Way in Which
to Have 1t Built.
Raise tho Money, tho Balance Is
Smooth Sailing.
Moro Figures Showing tho 80 Levy
Insufficient
President Hidden Has Ills vlows About
tho Problem, and They Arc Not
Boaod Upon u Bond a.
sue, llthor

"This question Of finances. bonds,
street paving, etc, is one OF greater mag
ni,udc than the people sccm TO bc aware
off, remarked President lladlen to an
APPEAL reporter yesterday afternoon.
Judging from the diversity OF opinions
and plans presented 10y 'hc yarOou. gentle.
men who have spoken on thy subject, thcy
realize that IL Is a sort OF elephant" was
the reporters consoling rcio.n,or.
"What mean, isthir We will require,
in round numbers, SlOlO01 moro than
last year, The difference in interest aono
amounts 10 $4,000, because the bonds lie.
mand an increased rate ct interest TO
per cent Whom the old city debt was
settled, In 1852, Il was stipulated that for
the iit-t thrpt ycln they should bear
per cent, the mex, three I per cent. aud
after that Gpcr cent Those Sis years
have now elapsed uul ON Jauu-
any I, next the u per cont will
tuNc effect Another big item is water.
Out ol all the hue and cry tor
pure, wholesome aul abundant waicr,
sprlnr the Arc,Jn Water Company. The
public was nycuc 60 the city buying and
assuming control Of the wltcr company
therefore % is still u private corporation.
Our contract with that company provides
for the payment OF sO much money per
fire plug. which amounts In tlO aggregate
90 some 1000, u.s. against $1,000 to tho
oil company This contract uui payment
takes effect inst 20 soon gs tie water be-
gins to flow from tho stand pipe. Ne q
matter OF course, the company Dr. going 10
cSor itself iu attain that md. lut come In
iur The $4,000. aud h won { hp long before
10 succeeds Ti8 $4,000 will be- in-
creased ls the city grows and fire plugsarc
added
"What, then, shall We do 10 be- uycll"
"'Ihc Comm ssiopcn will come together,
mako out is budget 90 cover what they
know tn be- necessary. and 10 the people
don't want n, ur the lec slBuv should
turn 10 down, then something else must
boz done The table YOU published This
morning hasyl upon "a per cent levy,
WAS malo out because 40 many people
were talking about tina, rate. un ,ho net
/ valuation ui ,22, OOl,OO) Il would Ualizo
! $4,000, which would meet just the actual
running expenses II tho Government,
with no provision ior str1ct paving sowers
schools and public buildings. Vow, tho
rate ut tax per 800 necessary Ia give these
omitted departments Tor lN1 thc same
amount OF revenue they had Tor loSs will
hc as follows
ruv'is p orns .......... 700
Schools cents . ................. ........ 500
school huIdluFa. cents ............ ..... Two
The additional per cent Is Oh, which,
added 10 tlc ~ schedule published, makes
"a total OF 500"
"What WIS thc total amount Of money
Ia bulk raised lat year unlrr the S2.35
levy. aud What would b. the total this
year nj the increased yalunuonY'
The valuation last year was az, 49,
900 aud realized silG. $3.50 This year,
at 50. $4,000, would bc sjl7,OO
"And that would not b. cn0ugh7'
"Ol course IL wouldn't u We expect 90
10 any paving o. scWcr.ns. or give tho
schools anything
whats the matter with bonds for
paving purpose"
"'m asain-l.bonis, now; IN tell You
that most omphnticully. ! helped 10 set
ilr the old city debt, aud gave my pledge
that no more bonds would BE- issued until
those were o. ecmcd. intend to stand
out i1r ihr living up 81 that promise.
wv Nl.N N#N WV WlNN'N lN.'fl ~ ANl
way lur paving anl other public improve
mruiH uring controlled ani expended by
ans inside commission. | am able, With
nay iplloW-Commis,ioucr and The Board oi
Public Works, 90 attend 10 this city u The
people will Jet us have tho money a. build
h,rup with. ! am iu favor Of direct tax
iJr The purpose, aud most oi the taxpayers
favor ihc iamc thing. II let Ia a popular
vote, hoNc,cr. believe the bond no
scheme would 20 through. Fifty men,
Who pay DO taxes, but Who would hiyo
tie privilege II voting on The pfUp1i.
ton. would cast their ballot Tor bonds,
set the man who must pay the money
could cast but one against a. / hlyc
talked With q number ol gentlemen md
taxpayers. nearly ull 81 whom say 'g.yO
az direct taxes II the money is needed, TO
nuy reasonable sum, aud W. viii PAY IT,
When the people get ready % talk husi-
nee, with The bark on H.. aud ask us %
figure out what will be- necessary o. put
tho city Boo god condition, we'll 10 Il
mighty quick. II they mean business and
want 10 pay per cent, which would ryIl-
iEo u 10000 that Is the solution
Have you no other objection % bond
issue than your outstanding pum..o''
"lCs. aud one that | frssrl ig % very
strong one. The interest on s.nO,unJ VI
bonds. which cannot hc no lgs 'lf1n 40
Ter cent. rate, would amount 90 sletuNO.
Give ~ that $4,000, anil We con keep
tile work VI paving going steadily iur-
ward until Il il finished. That b Just
about ~ much as We can expand judi
ci1usly in one wear, ANYHOW, aud when
ala. III, La r,ftttitfg Wr'll have no debit