Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-05-10
Finances Of Richmond and NAN

Cneotfrs
Hundred. Of our people are giving In
telligent study TO the finances OF the
United States and Europe. Books. PAM
phlets and papers on coinage are now
read by many with az much eagerness
az II they contained thrilling accounts
OF battles or were romances OF new
Tribes. Currency. coinage, banking.
etc. have wonderful fascination nova
days for men OF affairs. whether those
affairs be commercial or political. But.
quite oddly. right here before our eyes
is a financial condition Of vast impor-
lance TO the people OF Richmond ana
Manchester which has received little or
no consideration.
Until the Chamber OF Commerce meet
ing on Tuesday night last few OF our
businessmen knew that Richmond ana
Manchester for years past have been sell
ing bonds to meet deficiencies In current
expenses. This Information came to
most OF them as great shock. For the
moment the annexation idea was Danish
ed by the thought that here. while We
have been giving so much attention to
national affairs. we have let our own
household get into disorder. True. all
the facts as 10 Richmond which were
stated at the Chamber have been brought
out in the papers time after time, but
never till Tuesday night did they make
much impression. As for the exhibit
Of Manchesters affairs. 1t was a complete
revelation to this community.
Now the question is can't we people
of Richmond and Manchester give TO
our own local affairs about one tenth OF
the attention that we have been giving TO
those Of the United States, the Latin
Union. England. Germany, and Russia?
Are things TO be allowed to 60 on as they
have been going on for some years? Are
we to continue TO sell bonds to make up
the deficiencies In our revenue? Can't
we cut down expenses. or If 1t be impossi-
bic 10 reduce expenses In any direction
whatsoever. would IL not be wiser and
better TO take the bull by the horns
and say 10 the people OF Richmond ana
Manchester: There's nothing TO do but
W ldiSt AhH'Ss ANI espP NNNci"o N''
meet the issue.
1t won't do for us to shut our eyes TO
our situation any longer. What Is more.
the financial world isn't going TO let US
keep our eyes shut.
The fact that the disheartening state
ments to which we refer were made be-
fore the Chamber Of Commerce viii give
them an Importance and a significance
that they would not have had coming
from any other source.
A prominent member of the Chamber
Of Commerce, after hearing the discuss
ion Of the finances of Richmond and Man
chester Omade in connection with the an
nexation question:, expressed his purpose
to ask the Chamber TO consider the pro-
priety OF recommending some change In
the administration Of the finances OF this
city. A financial board was suggested.
Certainly the present unbusness-like
method of permitting our current eX-
penses to exceed our income and thus
creating a floating debt to be finally
funded is not creditable either TO Rich
mond or to Manchester
Frankly, the people do not like this
state Of affairs. and at the first opportu-
nifty they will be sure to express their
disapproval Of IT,
Inasmuch as the discussion of annAXa-
ton has just begun. we may expect TO
hear a good deal said as TO our municipal
finances in the course OF the next few
weeks And IL is the common expert
ence that disputants are not slow TO use
arguments that come 10 them supported
by such authorities as were quoted be-
fore the Chamber Of Commerce.