Semi-weekly independent. (Plymouth, Marshall County, Ind.) 1895-1897, 1896-02-19
NEW SCHOOL HOUSE
CoNTINUED FROM FIRST PAGE.

contract with the city and were not en-
titled to receive q dollar from the funds
of the city?
While of course in a strict legal sense
Indebtedness for street and alley cross
lngs for paving, and for sewers con
structed under the general improve
ment law, are no part or parcel of the
= per centum that goes to make up the
limitation prescribed by the constitu-
ton of the state, yet it must be borne
In mind that these things cost money
just the same, which must be met by
taxation from the citizens, and that
while there is a distinction made under
the decisions of the courts, yet it is a
distinction without a difference, and
one that the poor tax payer who has to
raise the money finds it very difficult to
discern. Granting, for the sake of the
discussion, that it is not possible under
the strict legal Interpretation of the :
per centum limitation clause 10 bond
the city for additional school buildings
now, yet we undertake to say that if
there is any place where the patriotism
of every citizen is called into play il is
to pay for necessary school buildings,
ever if the law had TO be STRETCHED a
little.
We believe that under the law the
city OF Plymouth could today fund its
existing Indebtedness by the issuance of
long time, low interest bearing bonds,
and thereby save enough on interest,
not to mention other places where
economy might be practiced, which,
together with what the city could
raise on current revenues, to pay for the
needed school buildings In a very short
time. The time has come when a
municipal corporation of the size and
Importance of the Queen City of North
ern Indiana should cease the practice
of borrowing money at high rates of
interest instead of funding the debts by
the issuance of such bonds as we have
mentioned, which we believe would be
sought after by investors and capital
lists as a choice investment, and bring
in many cases a handsome premium.
1t matters not what the political COM
pleXion of the council may be at d given
time, business Judgment dictates that
the city ought to be run as economically
as a private corporation of like magnl-
tude, of which there are not a few in
this great country.
But to the main question; after all II
a new school building can possibly be
erected with our present financial con-
ditionS, and the necessity exists, we
think every other Improvement, ave
perhaps the betterment of the water
works system, ought 10 be postponed to
1t. Nothing gives more tone to city
than fine schools and school buildings;
in no ether way can public revenue be
more beneficially expended and i'll no
way is our city's prosperity shown.
We are not In favor OF bonding the
city beyond the two per cent limit
allowed by law (as has been done in
some cities for schools and no n com
plained) but if ever such a step is taken
we think that in erecting necessary
school buildings "the end would Justify
the means" and the people of this city
would not complain. We are informed
there are numerous firms of brokers
who will take school bonds notwith-
standing the indebtedness is beyond the
allowable limit, banking solely on the
proposition that nc city and rarely a
citizen will ever attempt to repudiate
such a debt.
We believe that every possible effort
ought to be made and every resourse
strained to meet this necessity and that
the action OF the council ought to be
carefully re~considered. Y. l.. c. ORR.