The Providence news. (Providence [R.I.]) 1891-1906, 1891-11-23
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Page 3.
GOOD BUSINESS METHODS.
StriklngIy ExempIl6ed in the Conduct
ofProvidence Affairs.
To the Editor Of the Providence Neps:

To The Editor Of the Proridenee Ne,os:
II does not appear that our citizens
need work themselves into a condition Of
nervous apprehension nor imagine the
city nearing bankruptcy on account of the
city's Indebtedness, even if they take as a
true statement the juggled figures of the
most INSCRIPTIONS calamity declaimers,
IL is true that the Telegdms statement
of the net debt of Providence includes a
large amount that the city has
the right to borrow, but has not
yet expended. Still allow the figures
of the most extravagant statement" net
debt 80, 1856 Is made in the Telegram,
and compare this with the State valuation
for purposes of State taxation as found in
the State manual lS90-9l viz, Sl6s, ,547, l26
and it will readily be seen that the in
debtedness is less than 511 per cent. OF our
valuation. But this indebtedness does
not represent expenditures for the run
ming expenses of the city government,
those are met by ample resources from
the annual tax.
The whole of the indebtedness repre-
sents actual property bought for public
uses, exactly as a house and lot purchased
by an individual would represent the
value OF the purchase money. Beyond
this a large portion of this property in
cluding the water works, is so valuable
not only earn enough TO paw fair inter
est on its cost and the expenses of main
tainance but would pay a handsome
bonus over and above all to its owner
Some of the other property such as school
houses, public buildings, parks, high
ways, sewers, land, etc, while represent
ing real value are for the free use OF our
citizens.
IL this property was owned by an indi-
vidual very slight charge for its use
would pay an enormous income over In
terest on cost and expenses for maintain
ance. In other words, our Indebtedness
represents first-class property, greatly ex-
ceeding in value the amount of indebted
ness.
IL is exactly as though a citizen, In the
receipt OF good income ample for run
ming expenses and owning in addition free
and clear an estate worth 10000, should
conclude to crafty his desire for an inn
provement on his estate to the amount OF
Sl, 1000 and give his note for the same to
be paid at his convenience. Such course
would hardly brand an individual as a
reckless spendthrift nor injure his reputa-
tion as shrewd and careful business man.
The question whether the city shall ex-
pend 100000 for school buildings for the
accommodation of hundreds of children
who otherwise must be crowded into Gel
lars, entries or unsafe halls, or be denied
the advantages of the public schools, Is Of
proportionate magnitude to the problem
that would be presented TO the owner Of a
house worth $500 who desired to repair
leaky roof at an expense of $40.
The expenditure by the city Of $75, 900
for park equals in comparative financial
magnitude the problem of a citizen, who,
upon carefully counting his wealth and
finding himself worth s6, 742, should con-
clude that he could afford to take his
family for days outing in the country at
an expense of So.
or course Providence must govern the
amount OF expenditures even for desirable
objects, but If the people demand such
improvements as have been authorized by
the General Assembly and ordered by the
City Council, nobody need get themselves
into any agony of mind over the matter.
IL those who believe the people do not
desire sewers, lights and highways as pro
iected will examine the list of applica-
tions in these particulars, they will find
the demand far ahead of the ability of the
city to furnish.
Let, if those who believe that the people
do not desire ample and comfortable
the people on that issue il they dare.
Let some aspirant for public Office plant
himself on the platform of hindering ter
minal facilities and announce himself in
favor of leaving our depot and cove lands
in their former condition, and he will be
enlightened, if not elected.
AS to parks, it is beyond gainsaying that
a liberal expenditure for public parks has
always been of exceeding popularity and
has always greatly enhanced the business
and increased the taxable value of prop
erty In every city where such liberal ex
penditure has been made.
The hue and cry against these improve
ments meets with no sympathy among
the people. They are rather impatient
that the projected improvements should
be fastened to n conclusion, and that the
stagnation that has come from obstruc-
tion should no longer be tolerated or al
lowed to thwart the progress of the city.
This has already been shown by the hearty
denomination of the city government who
have advocated these improvements, and
will, on Tuesday, be more emphatically
expressed by their election.
TAXPAYER.