Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1891-10-27
a Card from Captain Mushbach

night made few remarks Ia opposition to
resolution which, stripped of all che ela-
mour thrown around 1t, involved the pur-
chase by the Taxpayers Of this city OF the
Pioneer Mills. wharf, water riebis, &c., st
the price OF Sc. 600, and o! the cooper shop
and lots adjoining, the latter fronting l20
feet on Duke street, aDd extending back
151 feet on the Strand. at price nos known
and which no effort has been made to aacer-
tain, and the presentation as gift OF this
valuable property to the Dish asman-
Kur!z Company, OF Ohio, private firm or
corporation organized to do business for liz
own profit. aud who confessed to having
capital OF $175, 900 The resolution also pro-
vided for tne relesee for ten years of a
ground rent of 81 720 par year due to the
city OF Alexandra and the intent and ef.
feet OF the resolution ives to make this pri-
vate concern the owner of all OF this property
at the end OF ten years, provided they EN-.
ployed fifty skilled mechanics (of their own
importation) during that period.
This looked to me 90 much liks "greas'Dg
fat pig" especially 10 view o! the faot that
our oWn people who operate factories have
been, mp to date, obliged to buy and pay for
ell of the oity's property winch eheY m y
need in their business, and also because
had the highest authority for stating that
alexandria has nothing TO give eway, and
If 1t had 1t should be given to Aiexaudrians."
that the resolution did not inset With my
appreciation.
I stated then and still say, that II this $175,-
| 600 company would buy the Pioneer Mills, &C,
witch It's oun funds would vote to relieve it from
| the GROUND rent 70 long as it Carried out the
| terms of its proposition. Further, in my view
OF the Law, the City Council has no right to go.
l ~ T.. ,lN- -a1on NhoE,
&c that far, in the light OF the decisions OF tho
| Supreme Court OF the United States among which
are Parkersburg vs. Brown, 106th U. g., 4S7,
| and Loan Association va. Topeka, ooh Wall, 900.
In the oourse Of my remarks I made the state.
! ment that the city had already )ating debt
| which Understood 10 be $4,000. snd inqu I'd
| the amount OF the citys notes then hold by the
| banks for borrowed money.
| Mr.. Harlow, the Guy Treasurer, interrupted me
| With my permission, and stated that the city did
not owe one cent of floating debt, ard that the
banks held mono OF the city's paper.
As had gotten LII 2 information from the Audi
tors report Of July 1, 1891, which showed that
! the city then owed the First National Bank $l2,.
600 for borrowed money, payable July 6, and
that tho Ale1sndris Gas WORKS then owed
the same bank $4,000 for borrowed
ey payable at the same time, and as l
had been informed by an old member Of the City
Council that these debts or considerable portion
OF them still existed to sll intents and purposes,
having been taken up on July 9Th out of the
taxes collected for the fiscal year. simply
for the purpose of saving four or five months in
terest or discount determined to investi gate the
m after.
did 30 yesterday with the assistance of the
Auditor OF the city o. Ale1andria, and 1 am now
ablo to say that my statement that the city owes
floating debt fo' borrowed money is pr cticsliy,
substantially, nay even abso utely, correct.
II III, City Treasurer had confined his denial
IN fha fOfu oh haht rod hpr I oon1d
have 4 o complaint to make except that l had
been mlsinformed; but for him to state that the
city did not owe cent Of batting debt is in Iey
opinion misleading and disiugenuous, though /
do not charge that it was Intentionally so.
have found thst the estimate made by the
Finance Committee for the year ending May 31st
1892. shows that they expect the city's receipts
to bs $4,000, which hss been increased by re-
ceipts from old tax bills, $4,000; total 1897 000
and that the appropriations for the same period
amount to $1O7, 1867 so. thus leaving deficit at
the end OF the fiscal year, II all expectations are
realized to receipts, and IL all appropriations
are made as contemplated, Of $40, 1867. so, and in
this estimate which the FINANCE Committee
acted it is distinctly stated that they expect to be
obliged to borrow before the end of the year the
sum Of So, 600
also found that while 1t is true that the city
paid the $22 600 Of notes referred to July 9Th,
1891, out Of the taxes then psi in by the people
who desired to save the ten per cent. red uction,
that the General fund wss obliged to furnish to
the Gas fund ST 600 to enable the Gas fund to
meet it's note referred to.
In other words the Gas Works which belong to
the city of Alexandria to-day owes ST 900. and
owed it at the time made the statement that the
city had floating debt. 1t is ndoubtedly debt
Of the city, because the city includes its Gas
Works, and no system Of book keeping whereby
the city's accounts are divided inlo 1.-The General
Fund /" 1.-THE Gas Fund, " "the Sinking Fund +"
&c, can change the fact that it owes the money
any more than the division by merchant o, the
accounts his books into profit and loss,"
merchandise" expense" &c., CAM when the
balance is the w1o1g way, alter the fact that he ia
in debt.
The truth is, think, that in taking up these
500, OCO Of notes for the purpo.o Of saving four
or Fl 20 months interest or discount. We paid with
n laudable object several thousand dollars more
than We could affo to pay. we'll knowing that
before The end of the hsc,l year we would necee-
sarily be obliged to borrow thst several thousand
dollars again in order to put The General fund in
proper shape, and give US chance to meet the
appropriation bill.
I have the budit statement that he believes
that even il all things work for the best on the
present basis the city will still have to borrow
s1me money. say, SIS. 900, to run it, before Jsnu
ary 9th, 1892.
or course this amount must be increased il ex-
traUrdlnsry appropriations become necessary, rs
for instance to repair damages to Streets sewers
&C., by foods, and thousand and one other con-
tingencies which no man can anticipate.
Probably, however, the best way to ascertain
whether OF not the city OF Alexandria has to all
intents and purposes floating deb, would be to
ask the people TO watch the proceedings OF the
City Council for the next three or four months
for the purpose OF seeing whether or not the Dor.
rowing of money to meet expenses already in.
Gu, red and those almost certain to be incurred s
INDUCED in by thst body. 1t will be.
GEORGE A. MU5HBACH.
A MANIAC WITH A GUN Ga Sunday
William Cleaning, q resident OF Ksnsico, N.