The record-union., 1892-10-24
THE DEPOT-ACT VoTE-MIsAPPRE.
HENSION.

AhE OEEO1-AC1 NOIE-MlSAPPRE-
HENSION.
The people are to vote on the Sth OF
November upon at Act to provide for
issuance of State bonds at per cent. for
nineteen years in the sum of $500, 900 to
enable the State Harbor Commission to
erect general passenger ferry and rail
depot upon the water front of San Fran
cisco near the foot of Market street.
The bonds are to be issued at the cost of
the harbor improvement fund. When
sold the money is to be paid into the State
Treasury to the credit of the depot fund.
A sinking fund for redemption of the
bonds and payment of interest thereon is
created by taking S4,631 monthly from
the harbor Improvement fund and plac-
ing it to the credit of the depot sinking
fund. With this money the State Treas
urer and Controller are to buy bonds of
the United States, keeping money enough
on hand to pay the interest upon the de-
pot bonds.
The harbor improvement fund derives
its revenue from tolls and rents, dockage
and wharfage fees. When the depot
bonds mature the United States bonds
are to be sold to pay off the State bonds.
Payments for the building of the depot
are to be made by Controllers warrants
drawn against the depot fund in the
hands of the State Treasurer.
This is the whole of the Act, all there is
In it. 1t does not tax the people single
cent, nor touch a dollar of the States
revenues or funds on hand 1t simply
enables the State Harbor Commission to
anticipate its income sufficiently to build
at San Francisco general passenger and
ferry depot, instead of waiting many
years to accumulate the money, and in
the meantime leave the public unaccom-
modated with proper general landing
and depot at the metropolis.
The business way to do, did the law
permit it, would be to borrow the money
direct from capitalists, and pay it up by
installments from the income of the COM
mission; but the law prohibits that BODY
from creating debt, and, except the peo-
pie vote the proposition now submitted.
the depot cannot be erected.
A misapprehension obtains that the Act
is one to build depot at public cost for
the railroad and ferry companies. So far
from this being true, those companies
have nothing whatever to do with il. ex-
cept that they have to pay rents and dock
dues, and hence are assessed along with
other commerce to pay tor building the
seawall and depot.
The Harbor Commission is a State
board. 1t manages the waterfront
wharves and docks at San Francisco: it
pays its revenue into the State Treasury
and draws it out on Controllers warrants.
except that it monthly keeps a small sum
on hand to meet immediate demands,
and for these it renders an account to the
State.
1tfollows that so far from the State be-
ing taxed to pay for harbor improvements
on the San Francisco Waterfront. all the
cost of maintenance and Improvement
comes from rents, tolls and dock charges
paid by ships, ferry-boats. railroads and
commerce at San Francisco generally.
The commission was erected many years
ago, because the tidal front is the prop
erty of the State, and not of San Fran
cisco, and because it is. wise to keep
dock and waterfront management out of
municipal politics.
Now it will be conceded by everyone
that present accommodations upon the
States wharf and waterfront property
are inadequate, not in keeping with State
Importance, absolutely detrimental to
commerce, and delay and annoy all travel
ers and shippers. The simple question is.
shall this state of affairs continue, or the
Harbor Commission be given authority
to put up proper structures, with waiting
and baggage-rooms, conveniences for
men, women and children, landing slips
in the depot, safe and sheltered, and
charge to the transportation companies
and to commerce such rents and tolls as
are commensurate with the accommoda-
tions furnished.
The idea is to abandon the rattle trap,
dingy, and inconvenient old sheds at the
foot of Market street, and put up sub
stantial two-story stone building, orna-
mental in degree, a credit to the State
and source of revenue to it. If the Act
is voted down then for many years the
old sheds now in use must remain, cold,
draughty, leaky, unsafe, and without a
single convenience for comfort, or the
easy and rapid dispatch of business, and