The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-04-01


north sewer tunnel; also $4,000 for lat
eral sewers and $4,000 for tho purchase of
an electric plant.
An invitation was then extended by mo-
ton to any person in the hall to join in
discussion.
John w. Gibson took advantage Of the
opportunity and remarked that the credit
Of the city had been too good. The bonded
indebtedness was already 81. 565. 600, and
the floating indebtedness $604, COZ OF that
amount salaries alone footed up $2S03l4,
and $113. 2S7 represented the muscle spent
on the streets. It would be rank cowardice
to saddle on q future generation this debt
from which it could get no benefit. Let
them meet the debt now, levy . tax of
four-tenths Of per cent, and pay up like
men. He declared that at the last cleo,
ton, when he and many others
were Democrats for the first time. they
were promised by the administration that
there would be no further need of bonds.
1t was his opinion that the floating indebt-
edness could be paid off to the extent of
$4,000 right now, and they could pay off
one-third each year until it was cleared.
The city was thronged by bunko men,
thieves and robbers; they had been prom
ised there should be no more crime. Why
didn't the fines pay the expenses of the
police court? Before they placed them
selves on record he might remind them
that times were very hard and people sore.
Gibson then demanded that the national
banks should pay their just taxes; he was
against buying the electric light plant; he
objected to bonding for the lateral sewers.
He objected to the city being bonded for
the city hall property when it already
owned so much unproductive property. Did
they want to vote a million dollars more
for the banks when people can hardly
keep the wolf from the door?
J. Y. Jeffries said they had come to the
verge of that condition when to drop
million dollars into this city will turn
every wheel of industry. He asked the
business men and iaboring men to under
stand the advantage it would be. But he
and the other producers wanted no strings
on the money. 1t would be much better
to tell the assessors when they went
around not to shut their eyes when they
saw 1000 lot. and not to open them too
wide when they came to q 81 900 lot.
There was no way of getting the money
except by Federal intervention.
NJ. +. Knox complained that he bought
some lots and they had been assessed up
in order to make sufficient property val
uatiOn to admit OF creating the indebted
ness. The voice of the people says no
more tax. His property was in the hands
of the assessor. and because he could not
pay his tax they had put . penalty on
him, but let the banks of. They put a
tax on widows who stood at the washtub
and paid salaries to men to sit in carpeted
halls. Mr.. Knox defined a bankrupt as a
man who had no money to pay his debts.
J. w. Livesley also raked the reform"
administration, and said he found he
could barely get along with his present
taxes, and he was opposed to any more.
If the reform administration could carry
out some of its promises-he didn't know
how-and reduce expenses, the debt might
be paid without bonds. He was willing to
pay little heavier tax every year for a
lew years.
d. H. Gilman said they were confronted
by a condition and not by . theory. He
said the city was in q position to fund its
floating Indebtedness. He wished he
could fund his 1t is easier to pay per cent.
interest than 10 per cent. The city does
not propose to repudiate the debt, and it is.
worth while to save $Sl, 900 q year in in
terest. There was no doubt in the mind
of any reasonable man as to the com.
pletion Of the north sewer tunnel. He
thought private companies could supply
light more cheaply than the city could.
it was out of the question to pay the in.
debtedness in few years. The people are
paying enough taxes now. Any attemrt
to impose such q tax would result in
panic. There was no man in the COM
munity who was doing anything for it
who was not in debt OF course. in cities
the object was not to get into debt, but to
have improvements.
In reply to Mr.. Jeffries. he said he
thought it quite right that those who came
after US. in twenty years, should help pay
for the sewers and streets We are going to
build. But the question as to the largest
part was not how it was created. but
which was the better way to payit.
DR.. E. c. Kilbourne said it was "all rot"
that the scrip was selling at IS cents; it
vas snapped up at 92 cents. He favored
bonding the Indebtedness, and for the
sewer tunnel. He said the city could not
furnish light cheaper than a company.
He saw there was trouble at the water
works. Whatever party was in power
would appoint man for poliiics-it didn {
matter whether they were Democrats or
Republicans. and If the Peoples party get
In they will put man up there who never
saw water pipe. Laughter.l
Mr. Carson explained the figures, and
told Gibson he ought to known that the
sums in the treasury could not be applied
10 any other purpose than that for which
the people had voted it. He showed how
the money had been expended and how
much property the city owned. The point
was not of raising the debt by 500, %.
That debt existed, and the only question
was how to Pay it. Ii they kept that in
debtedness in warrants they must pay 10
per cent: If they bonded it they need onl y
pay per cent.
Mr.. Gibson was given the privilege OF the
floor to explain some points in his previ.
Gus speech.
Delegate Drew thought they could prob
TO the assessment complained of, he re-
minded the lobby that the city council
had no control over the assessor. Mr..
Drew though. they should favor refund.
ing 81 lower rate of interest and build
the sewer tunnel. but he was opposed 10
the purchase of an electric plant just at
this time
The convention then adjourned until
next Monday night