Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1894-04-14

loth Observation-Disclosures. 40 OEW
These are payable out of the re.
ceipts Of the Water Once, aud the
receipts will no doubt be amply sum.
cient to take up the certificates as
they fall due.
Bonds Payable.
There will be due April 1, 1894,
els, 600 Town Of Lake water bonds. |
This is also payable oft Of the water
fund. July I, 1894, there will be.
come due the following bonds:
! per cent. sewerage bonds. .......s 7s5oOO
per cent. river improvement bonds. sAsoOo
7 per cent. water bonds. .............. $4,000
per cent. Town Of Lake bonds. .... 49, o,
Total ........................ .sl,7s7.t00
These bonds can probably be re.
funded at 4 per cent and there will
result an annual saving In interest Of
s53,6lO. BY the annexation Of the
Towns Of Lake, Hyde Park and Lake
View s9O9, 900 was added to our debt.
The Finance Committee In en-
deavoring to formulate q plan for
carrying the different depai tments Of
the city government through the en-.
suing year has made the most ju.
dlcious distribution OF the limited
money at its disposal (ss, $40, 1s4),
but II Is to be feared that the
amounts allowed In some instances
will not suflice to cover the needs of
the departments. This necessitates
carrying over into next year to add
to its burdens large amount Of un.
paid bills, as was done last year.
The items contained In the p. esent
appropriation bill are theoretically
appropriated to meet the expenses OF
the year 1894, the taxes for which
will not be received until the year
1895, SO that these expenses must be
paid out OF the receipts from the
taxes Of 1893 now being collected,
just a. the expenses OF 1899 were
paid from the taxes OF 1899. 1t will
be seen, therefore, that the demands
upon the Treasury each year have to
be met from the tax receipts Of the
previous year; In other words, we are
always a year behind.
system In Vogue.
Among the items provided for In
the present appropriation bill Is one
for Interest on the city debt due Jan.
], 1894. The Council practically
meets April t. provide money to
pay debt that was due three months
before. What would be thought Of q
merchant who would sit down with
his partner three months after note
fell due for the purpose Of suggest.
ing provision for the payment Of
that note?
Owing to the financial straits In
which we a:e placed the Finance
Committee has been reluctantly com.
PEELED to propose to the Council q
general reduction In salaries and
wages. Most Of the city officials al.
ready receive salaries ranging much
lower than those paid In other large
cities, and reduction In pay In case
Of police and Arcmen, had II taken
place, would have worked q hardship
on these men, whose pay for the
most part 10 lower than that paid
In other cities.
The extension OF area BY reason oil
the annexation Of outlying towns
really calls for large increase In the
number Of employees In the police
; and fire departments. Good service
cannot be expected from poorly paid
} men. The effect Is demoralizing, and
: the reduction OF pay below a mini
, mum breeds discomfort 10 the rank,
and does not insure faithful work.
The sum which may be saved u
the city by reductions ordered under
the appropriation bill has been vari.
, ously placed at from &25, 900 TO e75,'
, 600, not q large amount Permanen,
relief can only be looked for In such
} legislation as shall bring about o re
form in our revenue laws We are
J working under IN antiquated system
Of township organization not adapted
to great growing city. With tn,
present ratio of decline In values thu
J mode OF assessing property for taxa
ton, II continued, will practically de
privc.th city OF the necessary means
to conduct its affairs
! Change In Asssssmsnt.
; The matter OF assessments shoult
be entirely within the control OF ,
properly constituted, we'll qualified
and impartial board, constituting &
bureau OF assessments, and wher
taxes are collected they should bt
paid over daily to the City Treasurer
SO as to make II possible for that OH
Ger to promptly meet the demands o.
those having claims upon the city,
The public is familiar with the great
embarrassment occasiOned by city
officials withholding funds belonging
IN the city for the DurDOse of personal