The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-11

The news published in the Post-Inteli-
sencer yesterday concerning the PROPOSE
ton made secretly by this city for con-
structlon of the Cedar river system win
be a great surprise 20 the people There
Is nothing, apparently. discreditable
about il. but the whole proposition, to-
gether with the figures given, form the
most conclusive reasons why the city
should not be rushed into another great
debt at this time.
Tbs following passage from the prospec.
tus should be carefully read by every cit
teen:
'The limit OF Indebtedness prescribed by
the statute forblds any further extension
OF the bonded debt al this time. The
enormous municipal expenditures made
necessary by the great fire in 1889, followed
By vast amount OF necessary public i'm
provements along the lines Of the sewerage
ard water systems have exhausted the le-
gal authority OF the municipality TO incur
debt This condition has been aggravated
By the great reduction of assessed valua-
ton during the past two years. For the
reason above stated, the city cannot at
this time incur the debt which would be
necessary IL the gravity supply system were
10 be constructed by the city. Notwith-
standing this fact. the showing hereinafter
made viii indicate most clearly that the
city offers a good business proposition 10 In
vestors and construction syndicates, an In
vestment which will yield sure returns as
regular as interest payments. with GER
tain return OF all capital invested within
less than twenty years"
All that is said about the Indebtedness
Is true. 1t is proposed now to get around
the wise constitutional limit by issuing
warrants.
The most Interesting part of the propo-
sition. however. Will be found in the fig
ures. IL Is shown that under the present
system our condition Is as follows:
Receipts
Cash. per annum. ......................s1 le 600
For hydrants. etc...................... 1900
Total ........................... $4,000
Expenditure
Interest, per annum. ................$ y. 800
Pumping stations. per annum........ $500
Office and operating expenses, per
ahnum ...-..-.........-.......... 1850
Extension, surplus. etc................ 5000
Iotai ACKNOWLEDGEMENTS. -Sl4o, 600
II we give up the present system we
must continue to pay $3.50 interest, as
we'll as the principal debt of 81, $50 900 for
the pumping plant. Besides that. we
must pay 81. 900 for hydrants which we do
not now pay. and must give up the SIS. 600
surplus. Therefore. besides paying for
the water supplied. the taxpayers will
have TO pay interest. So. 500 hydrants. ST.
Ooo, and give up the profit OF $4,000, or
such part as may not be needed for ex-
| tensions; total of S124.50O a year. or
| about $4,000 a month for nothing.
We say for nothing. because all the ser
vice rendered by the new system will have
to be paid for just as If we did not owe
dollar OF our present service.
Seattle Is supplied with excellent water
at rate below the average. That rate
would be lower II We had the Cedar river
system without the present pumping sys-
tenn; but We have that. we must pay for it
whether We use it or not. and there is no
way out OF It. If Il be true. as the cir
cular letter says. that the city owns or
viii secure all the real estate necessary"
we are fully protected against any attempt
OF any private corporation to secure such
a monopoly as shall prevent the city here
after providing Tor its increased neces-
stiles.
The case Of San Francisco Is sometimes
referred to "a Illustrating the need OF i'm
meda;ely securing control; but the great
difference between that city and Seattle
is that Seattle owns the distributing sys-
TEN. and TO private corporation can ever
take & away or parallel IT, Tie city cam
not prevent corporation or indi-
yidual buying land or water rights
bgt Il can make them valueless by refus-
ing to grant franchise TO lay mains
through tho city. OF. II it should grant
such franchise. making e. revocahle
/ Within the time when the city WI need
/ thA additional Sunviv