Los Angeles daily herald., 1889-08-18

Can these gentlemen be acting in good
faith who declare that they desire it I
Why do they favor it, do not mean all
but some of them2 What will be done
with this money while the case is being
carried through the Superior Court,
through the Supreme Court OF this State
and through the Supreme Court of the
United States? 1t is the belief of many
people that it win go where the rest oi
the city's money now is, into some COM
bjne OF banks to assist them to carry on
their business for nothing.
Now, tonight We want an expression
OF opinion-not a discussion. If those
who favor the bonds wish q discussion,
we will meet them at any time and
place they may select and talk it over.
This meeting is called to arouse senti-
ment in favor of organization to act in
the time that remains before the cleo
ton takes place. We want an Executive
Committee appointed and ward commit
tees, that we may wage red hot war,
a vlndictlve, uncompromising and ag-
gressive war to and through the day Of
election"
The speaker closed amid whirlwind
of applause. Mr.. White then moved
that the Chairman at some time not later
than Monday, appoint committee of
three, whose duty it should be to select
an Executive Committee, of whatever
number might be necessary, to take
charge OF the campaign. The motion was
carried.
Loud cries were then heard for Hon.
y. M. White, and he stepped forward to
the platform and was introduced by Mr..
Knox.
HON. q. M. WHITES SPEECH.
Mr.. White said: / wish to say a few
words on what 1 consider the material
points at issue. As one of you. and
claiming no more right to speak than any
other, l believe that this proposition is
one which ought to be defeated. Some
of you know to your cost that the City
Fathers have found it necessary to raise
more money to carry on the government.
They could not go beyond the dollar
limit on the assessment, so they caught
up with their needs by an entertaining
process which they called equalizing.
The city now owes about $500, 900. 1t is
to raise, counting both the
sewer and the school bonds, million
and half of dollars. There must be
interest paid on the bonds, and an ar
must be made for q sinking
fund, 30 that the whole sum will be paid
up in twenty years. This means that q
sum of $3.50, 900 must be transferred an
nually to the wrong side of the ledger, an
Irish dividend, 80 to speak. On the dollar
limit of taxation this means an increase
in your assessment of SIS, ,0O0,00O There
has been no instance in the history of
the State of such wholesale indie btedness
as this. The charter provides that the
indebtedness shall not 60 beyond two
millions. This leaves US trifling mar
gin of $40, 900 yet to borrow to bring us to
the ultimate end. If anything should
happen when the sewer is in process OF
construction if some contractor should
go to the wall, or If somebody-perish
the thought !-should steal some Of the
money, where would we be then? We
would have to pass round subscription
paper to finish the work. At any mo.
ment some unexpected exigency may
arise, and see what a pitiful margin We
have left ourselves. The first time that
we as city have power to
go into debt to any considerable
extent, We plunge in up to our very eyes.
When strangers come to settle we can
assure them that they need have no fear
that the city will run in debt, for it is
already mortgaged for all that the law
will allow.
OF all this immense sum, 1892 900 is
all they propose to spend for sewers for
the city; the rest is for trimmings-a
sewer line to the sea which may never
get there, and grand rain water drain.
There is no objection to the latter idea
If we could afford it at this time-for
that matter, l should like to see the city
30 rich that the inside of the sewers
should be silver plated. A little while
ago two or three millions was not very
much money. Every well-regulated
boomer kept it in stock. But
just now when hundred thou
sand dollars seems like an immense sum,
to most of US it is rather business-like for
us to pause and reflect before we 60 into
this million dollar undertaking. We
must say to our Council, Softly, friends,
you are erowdiDg us too hard 1 have
the greatest confidence in the country. l
don't want to be called a silurian and l
deny the right of these people to say
that if we want sewer we must accept
this particular scheme. This is the peo-
ple's government and they are entitled
to what they wish. should like to see
the people who are putting their money
into this cable car system receive all the
encouragement that their enterprise de-
serves, but we can't make them a cool
donation Of half a million dollars. We
do not say that those who favor the
bonds are governed by any less prais-
worthy motives than are we, but we do
believe that they are on the verge of
making a great and serious mistake.
Mr.. Whites speech was frequently in
terrupted by loud applause, which
showed how thoroughly the audience
were with him in all that he said. At
it's conclusion Mr.. B. Fehneman moved
that roll be passed around for the sig
natures of those present. The plan was
partially carried out, but as the audience
kept thinning out toward the end of the
meeting only about 200 names were OBJ
tanned.
Judge Humphreys was called upon
and made few remarks which he said
were foreshadowed by an article which
would appear in this mornings HERALD
over his name. Mr.. Lichtenberger was
also called upon and made humorous
speech. Mr.. Shinn as represen.
tative of Santa Monica, responded to q
call from the audience and made an
eloquent plea in behalf of the famous re-.
sort. He was in favor of any scheme
which would provide work for the unem-
ployed, but would prefer to see the
money used in identifying Los Angeles
fbrouuh bae rEo ho ~, rt,,p;,r 81