The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-12-21
A CARD FROM THE MAYOR
Mr.. Bradford Writes Upon the Prop
osition to Bond the City for
$t5O,00O.
Permanent improvements Should
Be Paid for by the People
Benefited.
The Growth Of the City Demanded Heavy
Expenditures-Good Policy to Bor-
row Cheap Money.

Editor INDEPENDENT: Judging from thu
criticism upon the proposition to ISSUE
bonds to the extent of $4,000 the schem,
cannot, by the critics, be we'll understood
Upon the LIST day of May, 1880. the begin
ming of the present administration, ther,
were outstanding warrants amounting Il
$9O, 655.7l. This fact is sufficient evidenc.
that there were no funds in the city treas
ury and consequently, to enable the govern
ment to carrv on its work, it was necessary
| to continue the pernicious system. born.
believe, in the year 1889. 1t was notorious
fact, during the few months preceding the
election of April, that tho finances of the
city were in such a deplorable condition
that many men of acknowledged financial
ability Stunned the honor of presiding ovel
depleted exchequer, and in consonance
with that feeling, ! was warned by many OF
my friends that the office would not be q
slnecure. / give this that the people may
recall to their minds the state of the
finances at that time.
knowing, however, that the floating debt
was created on behalf of permanent I'M
provements, I did not hesitate to take the
position now occupy, viz: That all per-
manent improvements should be paid for
BY those deriving benefit therefrom and
that therefore bonds should be issued to
meet the cost of such work, such bonds to
extend over probably twenty years and
bear five per cent. interest. / have advo-
Gated in private for many months this
plan, but it did not meet the approval of
those with whom ! counseled until now,
when the wisdom of the proposition is ap-
parent to nearly all. The fact that the city
has grown in the past two years over miles
of additional streets, entailed upon the
of law compelling adjacent frontage to
bear the burden) of grading these high
ways at an expense to the general fund !.
Otherwise we would have displayed to in
tending investors of the east and south
the result OF policy born
and our city would have presented the ap-
pearance of a small rural village with av-
enues upturned only by the energy of swine.
Note the fact, as all who have travelled the
newly graded streets will bear witness, that
since May l, 1880, more first class work has
been done with the revenue from the sale of
$89, .56 worth at warrants than was done
with the total tax of 1889, amounting in
round numbers, to $4,000, to which was
added the warrants outstanding May /,
1880, total of $173, 155.71. This will elimi-
nate the charge of extravigance brought
against the present administration,
Looking at the arguments put forth by
is burden, and that with bonds outstand-
ing to the amount of $4,000 the interest
account will amount to $2l 800. Please
continue the proposition by mathematics
as clever and these gentlemen will learn, I
hope to their advantage, that had this reve-
nue. of $43O, 600 been raised by tax they
would have paid it with money worth to
them u per cent per annum, or SOL 600,
showing clear saving to our friends op-
posed to the bond scheme of $50, 100 each
and every year that their money carries the
value of y per cent per annum.
hold that until money reaches in value
in Montana the level of eastern capital it
will pay us to borrow for the construction
of Public works. DONALD BRADFORD