The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1892-12-15
TAXES AND PUBLIC IMPROVE
MENT.

Some of the business men vi Aus
tin complain that trade is not COM
mensuate with the taxes they are pay
ing, or in. other words the taxes u ION
the bonds issued by the city are not
effectiug the increased business ex-
pected from the Investment.
That is true, and at the same time
it is exactly what should have been
expected and what all thorough bust
ness men did expect. If a business
mau sees the opportunity to enlarge
The scope of his operations by borrow
ing money and investing it towards
that end he must expect to have
hard time in paying the interest on
the money until his scheme has had
time to mature.
That was exactly the condition OF
Austin. The city and state were under
contract. about to expire, with the
water company to furnish water and
light at q rate that was regarded as
exhorbitant, especially as the supply
was limited and the city undertook
the construction of a dam across the
Colorado river by which water and
light in unlimited quantities would
be furnished at a mini
mum price.
Under the circumstances this was an
absolute necessity, and it could not be
effected in substantial way without
the expenditure of large amount OF
money. Of course we have not yet de-
rived the advantages IN the low price
of water and light that would COM
pensate us for increased taxation, and
we cannot expect to do so until the
dam is completed and the water and
light works constructed.
Immediately upon the almost
unanimous vote of the taxpay-
er. in favor of the city
issuing the bonds, Austin had
it's first boom or rather all the indica-
tions of a full fiedged boom and those
who then invested are complaining OF
hope deferred. The bonn had no
healthy basis, for investors ought to
have known they could not realize on
their speculations until the result OF
the public improvements were fully
realized. If they have to pay txxes
now on their investments it is no fault
Of the enterprise but rather their want
of sagacity in buying too soon. A
prudent speculator would have wal
ted until the improvements were
nearing completion and then put
his money where it would do
the most good, leaving the taxes to be
paid until that time by the owner of
the property who desired to sell.
Austin's many advantages, with
TIE addition of the dam improvement,
were considered sufficient to draw to
It capital and actual settlers and
hopes were entertained for great de-
V6iOpDl6ub vi uuO ClVy. AAOoO hVP0o
We're we'll founded, but it is certainly
too soon now to gather in their frui-
ton. If we build wisely we will build
with the reasonable hope of a popula-
ton of $4,000 inhabitants in ten years,
and that, too, OF the very highest
character of people in inteli' nee and
wealth, for we will offer unlimited
facilities for the profitable use of capt.
tai as we'll as social and educational
superior to that of any
city in the state. Let us not grumble
then at few hardships when we
have the reasonable hope of a beauti
full fruition, but await in patience the
of an era of prosperity now
10 near at hand that but very few
fully estimate at its realization.
"There is a good time coming boys,
A good time q coming"