The Providence news. (Providence [R.I.]) 1891-1906, 1895-11-25
Facts VS.. Fiction in City
Expenditures
Summing Up of the Discussion
of Big Topics
Plain Statements of Facts That Re-
flute Goo Goo FlapdoOdle.


by the Providence Journal, and by the
speakers and candidates of the self-styled
s'good government movement, and
which we herewith take occasion 10 sum
marize for your information:
Finances (See treasurer's report Oct
], 1S95)-Gross debt, s15, 757, 3S4; sinking
funds, 81, S32, ,SS1; net debt, SIP, 924, SOB;
water debt (self-sustsining, profit Oh
water pays all cost OF maintenance, all
interest on debt, and leaves a balance for
sinking fund of S5s, 267. .1S), &c, 9S5, ,691; net
debt Excluding water debit, 50, 93S, s12;
sewer debt (sewers must be had as a part
OF the water works system), 70, 2s5, 900; bal
ance, excluding water and sewer debt,
&, 1858, S12
This balance. includes the debts incur
red for highways, schools, parks and other
public improvements of permanent
character and OF the highest necessity;
and the taxpayers are ever demanding
more sewers, more schools, ana more
highway work.
The large amounts expended in these
directions in the past three or four years
have become necessary from the fact that
during many previous years the city had
not kept pace with the demands OF a rap
idly increasing population.
We quote from the Providence Journal
almanac, published January /, 1896, pre-
sumed to give the exact facts and the
deliberate Judgment OF the Providence
Journal Company, which also owns and
publishes the Providence Journal:
"pRovIpENcE FINANCES
"The following statement shows the
financial condition of Providence, Oc-
tober /, 1891, the beginning of the fiscal
year: During the year the city issued
new highway bonds to the amount OF sl,-
200 600 May OF this year the new bonds
were offered for sale, interest rate being 4
per cent, and time 30 years. Twenty
seven bids were received and 1900 600 OF
the securities were sold at 110 SIS; $780,
600 at Ill. 066; $500. 600 at III. 1877 and $500
600 at Ill. 40s, the average price being
I'LL. 119. This sale indicates the popular
ity OF Providence bonds among investors.
The high credit of the city and the de-
mand for Providence securities Is In no
small measure Que to the-esFetul- and
efficient management OF her financial de-
partmentn
Compare the above with sale OF school
and sewer per cent. bonds made this
year, date May i, 1895, at 113. 952, being
g. So higher than the sale so highly
spoken OF above.
Does this indicate any lack of "good
go.ernment' or any loss of confidence in
the careful and efficient management" of
the "finsncial department of Providence2
Providence BONDS have for years broug mt
q higher price than the.bonds OF any New
England city, or Of any city other than
New York, where late issues OF bonds
are free OF taxes.
The "fnancisl department" consists
of the treasurer as the executive officer,
the joint standing committee on finance.
committee on city debt.
The Journal Is trying TO defeat the
very men who are and have been for years
most prominent members OF those COM
mittees.
few days since The Journal spoke OF
the decrease of S702, 116 in the sink ing
fund this year; but 1t deliberately sup
pressed the fact that large loan became
duo and was paid July ], 1895, taking
cash from the sinking fund 10 the
amount of q, ,247, 1914. IL.
The city treasurer himself called the at
tention of The Journal TO the above
facts, but so far not a word Of correction
or explanation hasfollowed.
WASHINGTON STREET.
Claimed to have been widened solely
for the benefit of the Union Railroad
Company. The facts:
Petition for widening Washington
street was presented to the Board OF Al
dermen June 80, 1892, signed by ID. Rus
sell Brown, James Hanley, b. ID. Weed
en-, l.. A. Tillinghast and 46 other tax
payers and citizens.
After public hearing, tho committee
reported in favor of the widening and
presented a resolution TO have the same
done under the Betterment Act, Sept. s,
1892, and the resolution was passed.
The petition of the Union Railroad
Company TO lay double track in Wash
ington street wax presented 10 the Board
OF Aldermen, Aug. 1, 1896.
public hearing duly advertised was
given Aug. 8. 1895, and no person APP
peared at the hearing TO oppose.
petition dated Nov. ], 1896, in favor
OF double track In Washington street
was signed by all property owners on the
street except two or three.
Ordinance granting right TO lay a
double track was approved Nov. 5, 1895.
Union Railroad Company will have To
pay about $4,000 toward building and
paving the street
RED BRIDGE.
Claimed to have been built solely for
the use of the Union Railroad Company.
The facts:
City engineers report for 1893, doc.
No. TO- 1891 shows the bridge to have
been unsafe for passage OF stone and oil
teams for considerable time; orders
were given TO allow only one load at
time, not TO exceed six tons on four
wheels; this was done after complete
expert examination.
June ~. 1894, the General Assembly
PASSED an act requiring the city CT
Providence TO build a new Red bridge
and pay for II in the first instance the
State 10 pay the city $1,000 toward IT,
ss soon as the piers were ready for the sop
ersiructure.
Balance OF cost, above gao, 900 to ne APP
portioned 10y a commission appointed by
The Supreme Court between the cities and
towns specially benefited. Total contract
price sS5 0O0
The bridge will be no more expensive
than would be necessary for the ordinary
travel, " electric cars were not TO be run
over IL.
RAILROAD TERMINAL FACILITIES
The absurd statement was made recently
by a"reform" advocate that the city had
built bridges on the cove land, at great
expense for the y. ", ~ III. & II. II. II.
Co, 10 run u tracks over. The facts:
The city has built no bridge ezcept
such as carry It's own highways over the
Noshassuck and Woonasqustucket rivers
The plan ofterminals now In process will
afford nearly or quite double tine facilities
afforded by any previous plan OF sugges.
lion