Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1895-03-01
U CITY FINANCES.

The city council will meet next Mon
day evening and among other things
will receive and consider the report
of City Attorney Frye ON the financial
condition of the city,-dealing more
particularly with the legal aspect of
the Indebtedness of the city and the
validity of outstanding warrants. The
report is an exhaustive one and COM
prises a list of all warrants issued since
the organization of the city, stating the
purpose for which issued, together
with an elaborate opinion by Judge
Frye on the legality ofcertain warrants
and the duty of the city council in the
premises. We have not seen theteXt of
Judge Frye's report and are unable to
give his findings in the matter, but we
have confidence to believe that neither
Judge Frye nor the city council would
sanction the reputation of any Just
Indebtedness for which the city has
been benefited, whether or not tho
warrants issued in payment of such
Indebtedness were issued in strictcom-
pliance with law. The question now to
be considered is whether the indebted
ness is just and whether the city profit
ed thereby. We are of the opinion that
the credit of the city is at stake
in this case and the city council can
not afford To take amy populistic action
i'm the matter. Thousands of dollars
worth of Hot Springs city warrants
are held by eastern capitalists and the
reputation of any of them on u trivial
tcclnicality would be blot upon the
fair name of our city, and an act that
would permanently injure our credit
and standing in the commercial world.
If warrants had been fraudulently is
sued and the city deliberately
robbed, the question of reputation
might we'll be considered but as far as
We know no such state of affairs exists
and the question of fraud will not enter
into their deliberations. Much of the
present indebtedness of this city was
incurred in making permanent inn
provements, improvements as bene-
fetal to future generations as to this
and in the humble opinion of the STAR.
IL portion of the burden should be
borne by the taxpayer of ten, fifteen
and twenty years hence. There is, too,
much expense incident to the incorpor-
alton and organization of IL city, and
the present property owner should not
be compelled to alone pay for the lux.
ury. Like all enterprising and pro-
gressive western cities, Hot Springs has
INDUCED in some luXuries that might
have been dispensed with, and the
affairs of the city. when in it's embryotic
state were not, perhaps, conducted
with that precision and due regard to
older city governments, but no one has
questioned the good faith and honest
purpose of our first city fathers and
the business of the Obligations incurred
by them in behalf of the city should
not he questioned, though the law. in
every instance. was not fully complied
with. The STAR ventures to suggest
that, if permitted under the laws and
constitution of the state. the affairs of
the city could be conducted more salts.
factorily and economically, and the
credit of the city strengthened. if ten.
fifteen and twenty year, six per cent,
bonds were issued and all of the out
etanding general fund warrants called
in and paid. This arrangement would
place our city finances on Il cash basis
it would reduce the rate of interest OH
our Indebtedness, and. above all.
ders of future taxpayers, and reduce
the levy for general fund tax to Il