San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1894-04-17


ton on the building and repairs o.
streets has been paid for, and nc
interest bearing obligations have
been left to trail behind to plague
the people with onerous taxes
This class of work done for many
years previous to this admtnistra'
ton was upon borrowed capital
represented by long interest bear,
ing bonds and all vestage of the
original work will have disappear
ed years and years before the next
generation will have to foot the
bill. In fact, large portions OF 1T
is today a mass Of ruin, subservient
to no purpose save as monument
to the folly that produced it. But
the interest still keeps on and the
principal is unpaid, and if this
policy is persisted in it will go "on
and on forever"
There are some who insist upon
continuing this line of policy. To
do so would in the end, in my
opinion, be suicidal to the best In
terests of the city. Permit me to
admonish you of the fact that this
city has an outstanding bonded
debt Of 1923, 500-tbat of this
amount 100000 have been created
and expended for street improve
ment purposes. Shall other public
improvements of a more lasting
and economic beneficial nature
give further away to this sole pur-
pose q? OF what avail are charter
powers given to the people for pub
lie water and sanitary sewerage, If
the peoples representatives deny
the people the right to express
their wishes in the matter but,
on the contrary, insist that its en-
tire substance shall be expended
for the sole purpose of street I'M
provements, and this notwithstand-
ing the living exemplification be-
fore us that this line of policy has
led to the city's financial discom-
torture.
l would further call your atten-
ton to the fact that out of the
bonded debt of 81, 273,5OO, heretofore
created, not dime has been in
vested in that class of public i'm
which brings in a
cents worth of yield, return or re-
venue to the city. The very re-
verse is true, for it has been eX-
penced in that class of invest
ments which entail constant out
lay for maintenance and repairs,
until it has at length reached that
where it is impossible
to keep this class of work in decent
repair out of the current revenue
of the city. To my mind it is
astonishing that gentlemen are to
to be found, who are
not averse to largely in
creasing the city's bonded debt
for a class of public improvements,
which is a dead investment, and
will give no return, and who are
yet unwilling to invest that same
money in lasting improvements
that will certainly be self-sustain
ing and bring yield to an over
burdened people. There is an APP
parent consistency in the few who
advocate policy of stagnation and
retrogressiOn, for this class there is
no hope, but l confess, myself, too
obtuse to understand or fathom the
reasons of those who profess them
selves willing to create debt that
will givenothing in return, and OPP
pose the use of the same money
that will most assuredly give large
returns, and at the same time
bring health and comfort to the
people. No sane man would think
of so investing his own personal
capital, then why should the
rule vary when the same econo-
omic questions becomes public
ones! To properly answer the in
quiry one would have to descend
into the slums and purlieus of sor.
did self interest for an answer, and
| therefore desist at the present
time from saying more than that
the one stands for the aggrandIZ'
ment of corporate gain the other
for the gain of the people, in its en-
tirety.
l am not opposed or afraid tC
spend money on lasting public i'm
prOvements and issue bonds there
for when knowledge, experience o.
other cities, and exact calculations
assure the fact that instead O.
being a burden it will be a finan
cial relief to the people. That il
will bring them health, comforts
and conveniences such as they
have never enjoyed before
and this without the augmentation
of taxes. On the contrary, howev
er, 1 am opposed to the furthe