The times. [volume] (Richmond, Va.) 1890-1903, 1892-01-08

this subject. coming to this body ~ do from
Maaison ward which Is IN the heart OF the city,
ana lraclcAiy q completed district so Tar as
streets are concerned, and do not hesitate 10
say mat the system is vicious in the extreme.
an any fair-mlnded man claim that the money
h'ey eNpended-ior instance, IN useless ana
expensive change OF grade OF Few inches
ON Grace between Fifth and Sixth
streets could not have been better spent
IN giving needed sidewalks or gut
tcrs or passahe roadvays to some outlying
section? Yet unless taxes be increased tn an
huai iund available for stree; improvements
VIII ne but q mere song 30 long as the present
system prevails. and that LITTLE. Will he rroNentci
lIONi cong the most good 10y the absurd piah OF
Mafd distribution these are some OF the dlhi-
cnilcs that confront ~, aud u seems to NC that
lnls looler Olll disroses 81 them SIMPLY nut
radically Under its provisions there will bo no
general fund for the improvement OF streets
and no equal division between all the
wards OF the city. such grading, gutterlng paw
in. or other permanent lettering a. may seem
desirable will bee promptly accomplished a.
minimum cost 10 the property-owner, whose
property Will he largely increased IN value ana
le Given thirty year. in which 70 pay. In other
words. thc city indorse' his paper and carries
the Joan, 10 were, for thirty years. at the end
OF WHICH time tAe sinking fund cancels the
dohf LIT us take supposed case OF ihe owner
of q lot OF thirty feet on a square which is I'M
proved Uy this plan. II the cost is $40 per foot
(which am told Is an excessive estimate his
share of the cost wOnid be s3J, which he could
nar at once and eytingush, or pay ataN of us tor
tHifty years This improvement costs the city
n0.hlug except tho use OF her credit Ih0
honiholdcr Is projected by q lien upon tho inn
proved property aud an adequate sinking fund
% = per cent. and the fortunate property owner
nuds his land increased IN value % the extent
pcrha OF l5 or ~ per cent. or evon more OF Its
Under this plan the amount now consumed in
uncomfortable and often undesirable improve
meuts could be devoted 20 tho prompt and
eliclont repair Of existing streets. ANA they
would then 90 a source OF pride 10 our citizens
and OF material leneit TO our city. Two other
collateral cOls deratl0us have impressed me
very much. IT, may not be known 10 OIL Of rs
that the price Of our city bonds has steadily
declined for several years and that
very recently. attcr striving Tor twelve months
20 obtain better prices, about s3' 1000 OF l.lch-
mOni citg per cent. bonds have been sold 10y
your Finance Committee AZ price which
scarcely nots the city 800 cents on the dollar. lie
sale OF these bonds was necessary 10 provide
funds 90 meet Council app ropria ions and TO re-
tire the citys large floating dobt. but the ne
ccs,ity OF accepting such price was lament
able and ought by all means to be aYoldeI IN
In my humble judgment guided As it
IS by that Of able ilnen5iers with whom
have consulted the street bonds
proposed 10y this bin. and which Of
course viii carry per M. interest, Will be
considered most desirable investments. and
selling as they viii for par and more than par
Will carry MP with them 20 higher prices the
other per cen. bonds Of the city. which nave
indeed in the past sOld as high as JOB ana
lul premium. last confederation ana TO
mind NN no means the ltdol. is the Gel itllls
OF material advance IN the growth ana prosper
ltr Of the city. considered entirely apart from
ans scheme Of ann XatlOn which has been OF
may hereafter be proposed
This growth and progress Wolld add untold
sums TO the taxable valnes Of the city property,
and believe that freed from the burden OF
debt waning credit and poverty, our city WOud
bloom and blossom like rose.
have not discussed the details of this bill
for 70 is the r neral plan that hayo asked the
Council fo indorse. That il Will he amended
|.f Ifaf % ]
myself would suggest that the FINANCE COM
/ mlffce be empowered ~ act IL con uncloh
nIfhth special board Of Sinking tund comma Sc
sioncrs named in The BILL Ia the issuing OF me
bond. objection has been made that this niu
Mil entail great hardship upon residents IN ihe
ou-lvnE sections who have long been pa ing
ibe regular city tax. without having the bene.
fits Ut improved streets enjoyed by residents n
more central ri slricts amt 10 ls urged that suc
persons should not lie required TO comply Win
fhe terms OF the proposed plan lie answer IS
plam-wthout such nl tins generation WI
hardly see the desired improvements ana tli5
is the only feast ule method OF obtaining them
Ifthc improvements are not desired. the spe-
ca tax need not be paid on assessed. 40,
ON tine whole IL seems TO me that TINS ~
offers u. q most admirable way Out OF our dlhl-
culties and one which Will result I'D uuQues,
ti0nal ie and permanent ncncnt TO the CITY, ana
trust The Council Will give ID the lhdOIselucht
suggested IN my resolution.
The resolution of Mr. Guigon was then re-
forred 10 the special committee OF nine. and
. the same was done with the report of the
specinl committee of which Mr.. Houston is
chairman Mr. Glover offered m amendment
90 hs resolution. providing that INC IIe-l-
dent of the Board Of Aldermen and the / resi-
dent Of the Common Council represent their
wards on the special committee of nine. The
amendment was adopted Mr.. ID. J.. White
presented a copy Of the AnneAaton Dil,
Wh ch also was referred
The meeting then adjourned