Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1891-03-02
THE CREDIT or THE CITY IN
DANGER.

ITappear from Published statements,
given without qualification, that for the
first time In the history Of Salt Lake
City, iu credit L. rapidly sinking.
More than that, II Is IN danger Of being
swampcd. This Is the fnt time In the
existence Of the corporation that even n
shadow has rested upon IL credit. But
".ibcral, rule has, In the brief space
OF one year, brough, II to the verge OF
ruin. This decline Of financial solidity
WINS the cause Of the bonds Of the
municipality being sold nj 90.
Itls also broadly published that the
proposed sale Of the Old Fort block II
based on the necessities Of the sltua'
tlon. IL issla,ed that the 100000 that
would accrue from disposing Of piece
Of VALUABLE property belonging TO the
people 10 n private corporation Il needed
10 save the credit Of the city," Per
haps mn adequate Idea Of the situation
can DO formed by pcrusai Of the
annexed article from friday's issue Of
the Salt Lake 7imo8-a n-"Mormon"
paper and supporter Of the Liberal"
party:
,'The saio 81 tho Old FORT blsok that has
furnished tho key FOR 80 much demagoRlo
csntlng on tho pa'. OF the politician for
the wrinkied aud horny -palmcd son OF
toli,n aid moinbcr Of the city Council
this afternoon, is nrsod by more
reasons than those that are visible
from birds eyo Wow. It's all right
for men 10 talk sentimcntaliiy aud
10 iany the poor man upon his
rights and what humanity owes him,
but thni sort Of stun has been served In
such volumes that Il has become Hat and
tasleic-.. The poor man can't get food or
fuel out of scn,imentallty any more than
city or moneyci baron OF Wall Street.
You can't settle hills with scntlmontaliiy.
The city realized that when they unloaled
thuss bonds Mt 81 ccni-. our credit must
DO protected aud tho only basis OF proioc-
tion II bullion SILVER aud gold-and bank
notes. In case the thing j. not lon to our
preference. Hut the sale Of tho old For
block"
"would ciicc, our crcllti'
"As.urc,lly. one hundred and my
thousand dollars In tho municipal ill ut
this writing would make us feel like u
newly blossomcd rose. II would OBJ
viaie the Necessity Of appealing 10 u
good many o,heF alternatives that ara ut
onco expansive aud embarrassing. l
don't believe In paying cxtoriionate trib-
uto to the sordld shylock until tho ayar-
iclous son OF Israel has got ~ In hi
mcrrllcss grasp. To bo candid tho city
owes more, morally, than appears In tho
red. For example Il owes the property
owners Of TIL. city $4,000 for monies
advancodi'
Flows thai;''
"vcry simple. It's for monies adj
vancod by thcm on the extension Of
water mains and In round numbers II
reaches $4,000. The system here Is
somewhat eccentric. For example, II nm
application Ia mado for Waterman
the applicant undcr tho ruling system
l. compelled To advance his proportion
u tho costs Of the laying II tho same.
In consideration Of this advance he guis
receipt from tho tax collector aud the
advance Is passed TO his credit and ap
piled In payment Of his water tax. Say
you pay $50 aud your water tax Is 80 per
annuni. you obtain receipt Tor Ave
years water tax. At tho present time
the city owes property owners $4,000
worth Of water. That's u heap OF money
TO soino people aud would carry many u
man through a sluall. Now, lots see
1--WE had $4,000 we could apply sic, 900
Of this To tho payment Of the people who
hayca credit balance ON tho ci,y's books
nnd redeem the rcceipis tina, thoy hold
for water that II will requlro years to
consume. Nor " this tho only do.ldera-
tum. Thorc nro other itcmS 10 bo
looked after, but they are family secrets.
However, 1t Is better totakc care of them
while they are bagsiellas than 10 permit
them to become bugaboos and, hence l
say, lot Us call In some of our resources
and protect ourcrodil."
We arc afraid the Family secrctsD
have done more 10 demorallze the
financial condition OF the city than any
other cause. OF course with thoso sub.
rosa concerns the poor public has
nothing whatever to do. All that tho
people are needed for In that relation
Is that thoy may bc mulctel OF their
money 10 meet 'bagatello family
secrets' before they b,c me "buga.
boos." What does this family secret.
business meang Does II signify, lob
berry, crookedness, mlsapproprlatlon Of
public funds, or what? Family
secrets" will not bear the light, 80, as
amatter OF course, they must belong to
the star chamber department. Of the
city government.
Now the people are confronted, &c.
cording TO u member Of the Council
and u Liberal" organ, with the i'm.
minent danger Of a collapse OF the
credit OF the city, after an expenditure
by the "rule or ruin party OF nearly u
million dollars In one year, with no
commensurate improvements to Justify
this proiilgate disbursement Of public
funds.
The present government Ia loading
Itself up with questionable itransac.
tons and unmitigated public suspicion
and contemnt