The Providence news. (Providence [R.I.]) 1891-1906, 1895-11-21

IHE iiorLA
TIL Providence Journal Almanac is the
only non. partisan issue oi..The Journal
| Corporation. It appears once a year.
The almanac for 1895 devotes two pages
Cs and 47) to the statement OF the hnan-
cial affairs OF the corporation OF the City
OF Proyidence, and lest It's readers should
fail 10 understand from the bare figures
the gratifying condition OF things the
editor takes pains to make 1t clear with a
few remarks OF his own.
Referring to a sale OF municipal bonds
at an average price OF III. no the editor
of The Journal comments in his Almanac
as fellows;
"This sale indicates the popularity OF
Providence bonds among investors. The
high credit OF the city and the demand
for Providence securities is in no small
measure due to the careful and efficient
management OF the financial depart
ment."
We should like to ssk The Journal what
has happened TO the ''high credit Of the
city" thus enjoyed, since The Journal
began it's "reform movement"
Nothing has happened to ii, evidently
enough. For since the ineffsble Journal
began its assault upon the credit OF the
municipal corporation the city has dis
posed Of two issues of bonds at a price
higher thar our bonds We're aver before
s~olo--higher than the Ill. 119 that
prompted The Journal editor in his al
manac 10 congratulate the town on its
"high credit"! School bonds and sewer
bonds were disposed Of this past summer
for 113, 1891
We also beg to call to the attention Of The
Journal that the Financial department"
is simply subject to the city government
which makes the appropriations and or
Gers bono issues. The same city govern
ment that was largely responsible for the
"high credit OF the city" is in Office
now. The same kind ofa-eity govern
ment-s Republican city government
has always been in Office.
Furthermore we beg to remind The
Journal (see City Manual, page ST. that
the financial department" aside from
the ureIy administrative and clerical
force n the treasurer's department, COM
prises as its most important factor the
joint committee on finance, which must
be held directly responsible for the APP
preparation OF the finances of the city,
subject to the approval of the City Coun-
ell, and for the actual management OF the
Financial department" Prominent in
| this committee are Mr.. WILLIAM p.
VAUGHAN, Counc Gilman from Ward /,
chairman; Mr.. ARTHUR II. WATSON, Al
derman from Ward i; and Mr.. JOSEPH
II. KENpRIcK Councilman from Ward 4.
And, furthermore, another committee
that is q part OF the financial depart
ment, aud Is OF influence in maintaining
the "bigh credit OF the city" that the
Almanac 10 so gratifed with, includes in
its number Mr.. FRANK +. OLNEy, Mayor
and Chairman; Mr.. VAUGHAN, Mr.. WAT.
SON, and likewise Mr.. CLINTON ID. SELL
LEW, Councilman from Ward i, and Pres
ident OF the Common Council.
Moreover, OF the commissioners OF sink
ing funds, the fourth factor In the
financial department, are Mayor OLNEy
and Mr.. VAUGHAN.
Incidentally all these gentlemen are
candidates for reelection, inc The Jour
nal has the face to oppose them because
Of the condition Of the city's
finances.
The editor OF The Journal should have
referred to his current Almanac before
cutting himself loose on the city DEBT.
But, then, there is no absurdity i'm.
| nossihle to the nromoters OF the so.cailad