Democratic Northwest and Henry County news. [volume] (Napoleon, O. [Ohio]) 1894-1905, 1894-05-03
HENRY COUNTY FINANCES.

allow myself to be forced into a BIZ
ased or partisan discussion OF this
very important and vital problem, az
fecting the welfare and prosperity Of
every property owner In the county.
All deserve respectful attention, and
every person who has honored me
with a careful and candid perusal Of
all my published statements will do
me the Justice to say that they have
been strictly non-partisan; and Mr..
Russell Is mistaken il he really thinks
that l intended that republicans or
any other class of citizens should be
hindered from reading my last state
ment. On the contrary, am very
much obliged to Mr.. Russell for pub
fishing my last statement. Not that
think for moment that republicans
do not read any other county papers
except the Signal, for 1 concede to
republicans the same high decree of
intelligence and disposition to CLEAN
information from other papers and
fields of instruction, as claim for any
other party. If, however, Mr.. Rus
sell thinks that republicans would
have failed to see and read the state
ment had he not published it, then l
am doubly obliged to him, and on &C
count OF his reply to the same my at
tention has been called to few er-
rors that appeared in the statement.
In speaking of the constantly in
creasing Indebtedness Of the county
fund and the additional levy that
would have paid the floating debt of
that fund at the close of the fiscal
year Of 1887, and kept the fund self
sustaining thereafter and even down
to the present time, I intended that
the statement should read as follows:
''If the levy for these five years had
been four and four tenths mills in
stead Of three and one tenth mills, a
difference of one and three tenths
mills, the result would have been vast
ly different. The county fund on the
1st day of Sept, 1899, would have de-
clared an amount on hand above all
Indebtedness and expenditure of
of $1,228.39 instead of a deficit of
$40, ,477.16. This additional levy of
only one and three tenths mills would
have proven to be immensely in the
interest of the taxpayers Of Henry
county, and the additional levy of one
and three tenths mills scarcely felt,
and the bonded debt for which the
whole county held and firmly bound
would have been on the 1st day
of January 1898, $130,000 instead Of
$165, 900, etc.n Also, in speaking of
the duplicate valuation of the SO
counties in Ohio, | meant to have
said that the valuation of 70 of them
was greater than that of Henry
county and only eight of less valua-
tion. There were other minor errors
too tedious to mention, and the only
exemption | claim from criticism for
errors committed is that was reared
in the log cabin and puncheon floor
era, before the pedagogue and journ-
alist had penetrated the wilderness
to any great extent, and therefore |
have a very limited experience in pre-
pairing manuscript for publication to
be criticised by an experienced and
censorious journalist.
The principals of mathematics of
the log cabin era and the present era
are nevertheless the same, and yet
Mr.. Russell, after having had the
honor of being auditor of Henry
county for three years, does not speak
the same language to the tax payers
of Henry county as the present in
cumbent, who has had O. like honor
for two and two thirds years. This
is conclusive evidence, if they are en-
tirely sincere, and the present incum-
bent for himself AYERS to be, that the
masses Of the people are entirely ex-
cused for having a very imperfect
l. Af -
county, when auditors themselves
disagree. am astonished at the at
tempt made by Mr. Russell to reply
| to the comparison made In my last
statement as to the difference in pay
ing the principal Of a bonded debt in
yearly payments, and paying all the
principal at the close Of the last year
to which the debt is to run. | am i'm
PEELED to say, without any comment
whatever, that Mr.. Russell, although
intelligent in the main, is superlative-
ly the most illogical, fanciful and Wis
ionery journalist | ever knew. He
claims that the bond sale Of 100000
of 1890, at 4 per cent, and due and
payable in 1905, is the best sale of
bonds ever made in the county. If he
means that it was the best sale ever
made prior to 1890, | agree with him,
but if he includes in that assertion
the several sales of bonds made since
the year 1890 and to be paid in in
stallments, then do not agree with
him for the following reason, to-wit:
If this bonded debt of 100000, issued
in 1890 at per cent, is paid as per
contract, it will cost in interest $780,
900. 1t has cost in expense to refund
and place the bonds as per Mr.. Rus
sells statement, $3,125, total when
paid, $163, 1876. Suppose these same
bonds had been issued to run 10 years
at per cent, and after the 3rd year
to be paid in annual installments as
follows: $4,000 in 1894 and $4,000
each of the remaining six years. The
! cost then would have been in interest
1856, 750, principal 100000, total cost
! $135, ,75O, or a saving to the people in
favor of the payment Of the debt by
installments at per cent. interest, of
$27, 1916. Now if these bonds had been
issued as above stated, the purchaser
of the bonds would have had better
investmest than had the purchaser of
the bonds sold Jan. 1st, 1898, when
the money market was much more
stringent than in 1890. The invest
ment would have been better because
these bonds of $4,000 Of 1893 were
only on interest one year, and each
succeeding year the principal will be
$1,000 less until paid. But ifthe bonds
of 800, 900 of 1890 had been issued as
above stated, the whole 500, 900 would
have drawn s per cent. interest for
the first four years, and there is not
the least doubt but that those bonds
might have been so issued and sold
at par when the county bonds of 1893
and the Beaver Creek. Lost Creek
and Fish ditch bonds all sold at a
premium, and all to be paid in install
ments. And Twill say that the COM
missioners are fully determined to
nav all the honded deht of &100 O00