San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1893-07-18
SHORT STOPS.
What the People are sayiI

|
Every taxpayer should get &
clear understanding Of the finan
cial condition of the city, so as tC
be clear in his own mind upon
every proposition of money char.
acter that may be submitted to
him. The recent report of the eX-
peIts shows just how the city
stands,and every taxpayer can see
at a glance just how we stand.
On the lst of August there will
be an election to authorize the city
to settle with Mr.. Breckenridge.
Does every taxpayer understand
this proposition clearly?
The city owes Breckenridge Is.
A. National Bank on notes or re-
ceipts for money borrowed to run
the monthly expenses of the city,
100000, on which the city is pay
ing per cent.
This business was one of the
things that come down from the
last city administration. Mr..
Breckenridge claims that he has
mortgage upon the taxes of the
city for his money to the exclusion
of every one else, and has enjoined
the city from using any of its rev.
enue from taxes. This controversy
mas brought about the agreement
to submit the question to the tax
payers, to give Mr.. breckenridge
notes bearing 6 per cent. interest
for his s per cent. paper, and pay
off the debt in four years.
The city has paid breckenridge
in interest during the past s years,
800, 900. The city wants to get rid
of this debt and make the interest
lighter, and it is proposed that the
city give him notes bearing 6 per
cent. interest instead of per cent.
interest. To do this you are asked
to vote to authorize the making of
these 6 per cent. notes.
This vote does not make any
new debt, nor add one dollar more
to the city debt, but simply pro-
vides way for paying off an old
debt, at lower rate of interest.
1t is proposed that we save by
economy, out of our revenue,
to pay off this Brecken-
ridge debt in four years, and get
rid of it. And the city is to have
control of its income to even eX-
penses,' without borrowing from
the bank. The vote on the 1st is |
to pay off the debt and prevent re-
pudiation.
Now, every intelligent taxpayer
knows the purpose of the election
on the LIST of August. We have
found out just what we owe, and
we must get our city on a cash
basis, without taxing the people to
do it.
The tax payers have just voted
to issue $4,000 in bonds for the
purpose of beginning a very inn
pOrtant plan of public improve
ments, involving the ownership of
the water supply as well as a sys-
tenn of sewerage. The people are in
earnest; they want to relieve the
city of the oppressive rule of pri-
vate corporations. The vote on the
lst of August will relieve the city
of its financial ENHANCEMENT with
the bank, and places it in an indie
pendent position in putting future
propositions before the. taxpayers
for consideration.
One thing at a time. The dis
cussiOn of the sewerage, water
works, and electric light PROPOSE
tions will come in very appropri-
ately after the 1st of August. The
vote on the lst of August is simply
to authorize the city to give
six per cent interest notes for
their eight per cent paper
now held by Breckenridge to
pay off debt already made, in Or
der to get the city on cash basis,
instead of being borrower of
Breckenridge. When the city in
vestigates the water works, sewer
age and light question, we will be
prepared to vote on that, also.