Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-11-07
Retrsnchment and Reform.

This statement shows that the appro-
priations for current expenses for every
year during the last four years have ex-
ceeded the receipts. and that this per-
slstent disregard OF business principles
has resulted in the creation Of a large
floating debt.
Now. so long as the practice OF making
appropriations in excess of receipts con-
tinues there Is only one way to pay the
floating debt thus created, and that is by
the issue OF bonds.
This plan has been adopted by the city
OF Richmond. and by this means our
bonded indebtedness has been very
largely increased for purposes for which
the issue OF bonds was not intended.
This practice OF living beyond the
limits OF our income and then issuing
bonds TO make up the deficiency, will
inevitably lead to financial embarrass-
ment. or cause such increased taxation
as Will result in great hardship on our
Taxpayers, and cause great deprecia-
ton in our taxable real estate values.
This being so. II is the part OF wisdom
10 make a substantial decrease In your
expenditures for current expenses, and
not to increase your bonded debt, except
for purposes which meet with general
public approval-F'rom the report Of the
City Council Committee on Retrench-
mont and Reform.
That these are sound business princi-
pies few will question. Clearly It Is the
duty of the City Council either to raise
taxes or to reduce expenses. II will not
do to continue the present practice OF
issuing bonds to meet annual deficits In
our current revenue. The danger Of this
course was distinctly pointed out and
emphasized in several Of Mayor Ellyson's
messages TO the City Council. No pru-
dent man of business would do II In
the management Of his own affairs; no
prudent man will advise the city to do
that which he would reject as an I'M
safe course of conduct for himself.
Rather than have salaries and wages
reduced the Dispatch would prefer to see
taxes increased TO the limited extent
that would be necessary 20 make both
ends meet; but we know that this
is not the time to propose any increase
Of taxation. SO it seems to US that we
must make reductions in our expenses,
or deliberately resolve to continue to
create floating debts. only to be funded
into bonded debts. The latter course
would inevitably end in disaster to our
party and to the city. The retrench-
ment which we Democrats declined TO
make others would promise the people
to make. and upon this promise might
be able to ride into office. We think the
Democratic party Of Richmond fully COM
petent to meet the expectations of the
people; fully competent to do all the
reforming necessary to the city's well
fare.
The Committee on Retrenchment and
Reform have recommended the reduction
Of the pay Of certain employees OF the
city government, and promise even more
important recommendations affecting the
work of the various departments. We
propose TO examine the committees re-
port more in detail than we are able TO
do now, when We are In the midst OF
the hustle and excitement of the election
IL cuts must be made-and 1t appears
that they must--we would have them
fall as equitably as possible upon men
of large and small pay. In no other
way can the support of the public be
secured for movement like this. ana
without public support no general and
retrenchment can be made.