The Providence news. (Providence [R.I.]) 1891-1906, 1896-12-02


The news columns OF our esteemed
for -over contemporary the Journal bore
this interesting testimony this morning:
"Expericncs during the cast few years
mas SHOWN nat the city OF Providence
can sell it's bonjs at "A higher prtm um
Than that obtained hy almost any otre:
city In New England. The last
hond issue brought something over
s1I3, and there Is no uouht that IL
tDe city receives permission from the
Legislature TO issue bonds nett January
To an amount of $4,000 for tho new
Mey bosset bridge, ire remiums Will be
as high as at tIfs last Issue.
"Ihi' timp ply proves that the credit Of the
city OF Providence /, regarded by invest
ors In municipal bonds rs exceptionally
Rood. frequ' n,ly OF late statements have
been besro hat II tie city continues 10
Issue tonds tho limit VIII soon se
reached, hut from statements Issued
nv no treasury department. the city Is a
long way from reaching the limit"
There is no news In this statement. We
quote this simply beraus 1t reminds US
tnnt II was a little more than year
ago 1t time thai the municipal election
r'sultcn in tho tnrniEg out of he Repu,-
lican sdministraton IN favor CT MaYor
MoGrINSEss and tity govern ment
pledged TO ccoroTizo and kotp tho muni-
cipal corporation from going into iho
hands OF a receiver ss the citizens were
assured was Threatened.
The Journ'l It th.t time wobbled and
ialsined the figures from the city treasury
10 demonstrate tina. the debt limit was
nearly reached and that unies the Re-
publican administration wss turned ont
the municis sai,iy woul soon reach the
last iinanci'l ditrh. So outrnr e1us were
the Journals manipulation OF tie tIgures
and distortion OF the ficts at that timo
that CITY Treasurer GaANoER was m
relied to protest on behalf of honesty md
common seass. Ci.izsns of integrity,
proved eihc .cncv in muniCipGl affairs aud
konss,y. were itilcssly msai!ed 20 make
political capital Tor tho clusc o' Democ-
rncy and Goo Goo orators wcpt crocodile
sears on the stump over the UNHAPPY
ccnsijion Of the municipal l3arces.
Wien The NEWS called the Journals at
tentioi to the fact tbat la own almanac,
a strictly non-partizan issue, though un-
fortunately having little influences as II
Is published only once a year while he
journal came out every day to com bat it,
contained this endorsement: "The high
creci, OF the city and the demand for
Providence, securities among investors is
IN no small measure duo to tire careful
sn efficient IN 'nagcment vf her financial
department namely, tha -Repu blican
Mayor ana Rcputlicin hnanca committo {,
at gains to add TO the line deficient
management Of It's financial department.,
the worda. "by { ty Treasurer ID. l.. ID.
GRAHoER''in the current Almsrac for 1926
"A tribute that must have made Mr..
GRANaER's bnct crawl with disgust and
EN- barrassment sincs no is sensible man
and knows that no has rn control over
the finsncss tho city except to keep the
books bplinced ana that it Is the finance
committee supporte1 by the whole City
Council that makes be financial policy OF
the city good or bad.
The present government has surpassed
all records Tor borrowing money. or So
curing suthnrity to borrow. Nobody Is
inclined TO ind any fault with tia, on
any political grounds. And we arc gind
tna, the Journal has either learned some
thing or Is dispssc1 to do the city gov
ernmeni, present and past, fall justice
In this matter.