The times. [volume] (Richmond, Va.) 1890-1903, 1896-04-12
The Sole Object for a More Economical
Municipal Administration.
MEMBERSHIP NUMBERS over 5000.
The Expenses of The City Government
should he Kept within the Income of
the City-Not the Desire of the Body
TO Reduce the Wages of the
Workinginen.

ana unexpected growth has caused no
niue apprehension, especially for the les
ser lights on the political armament.
The Organization is composed Of the very
cest elements of this city. representing
all classes OF business and professional
men, from the millionaire down 10 the
day labOrer.
Inc object OF the League consists as
has been stated on numerous occasions,
IN the desire TO give this city a more eco
nomical government. in order that the ex-
penses OF the municipal administration
..iEnt be kept within the limits or It's an
nual revenue. For years past the annual
expenditures Of this city have exceeded
the revenue by as much IS Sly5.0oO IN one
single year. and the limit Of the city. I'M
der tie charter provisions. has almost
been reached. This startling fact has
opened tho eyes OF many OF Richmond
very best citizens. and they are deter
mined 20 put a hold 10 this method Of
managing the affairs Of the c,ty. IN order
10 stave OF its financial ruin.
The Chamber OF Commerce. wnlcn mas
been maligncd so much Of late, and whose
members have been painted I'm the darkest
co!ors before the eyes of the w0rkingmen
IS actually the latter's best friend tor II
IL constantly doing all IN its power 10
induce manufacturing plants 20 locate
here. and to secure low freight rates over
the railroad and steamboat lines. IL order
that these manufacturing industries could
dispose OF their products. thereby beue-
fitting the laboring clements, so that their
members would he given employment.
THE CITY'S FINANCES.
comparatively few people have true
idea said one Of the most prominent
members Of the League last night, about
the actual condition Of our finances and
III order 10 fully appreciate Inc serious
ness Of the situation you will havo 10
compare Richmond with other cities Of
similar size. In consulting the latest vol
ume Of the United Stacs census. which
only made its appearance in public n few
months ago. l find a comparative state
ment in regard Of the public debt OF ten
cities in various States. among them the
city Of Richmond. Some Of the others
mentioned were. Syracuse. y. Y. Lowell,
Mass. Patterson, n. j.. Columbus and
Toledo, o., New Haven, Conn. In nine
OF these ten cities the public debt Is oQuH>
10 from ono to seven per cent Of the
value of the real estate. but in the city
Of Richmond # is sixteen per cent.
This unfortunate condition of the
finances Of this city naturally has the
most depressing influence upon all pi-
vate business and especially the real es-
sibility at present to obtain anything ike
a fair price for real estate. But what
Is man TO do who happens 10 hold "a
good deal Of real estate ana is IN need
Of cash money? lie cannot sell without
great loss, and if he attempts 10 give a
mortgage on some Of his property. then
the rumor is at once started that he must
be on the verge Of bankruptcy.
Il heard Of a case few days ago
whore n gentleman desired 20 purchase
certain piece Of property on Main street.
IT was offered to him az $4,000 and he
was about TO close the bargain when he
stepped into a real estate Office 10 inform
himself as TO certain details in regard To
the property. in onQuiring pbout the
assessed value Of the property I'm question
he asccrtaincd that II had been rated at
S2HO or $40 higher ias its market
value. while under fair conditions IT should
not have been assessed more than about
SG.00l or sixty per cent. OF its market
value. 1t is needless TO say that this
discovery at once put stop 10 the intend
ed purchase"
Another well-known member of the
League. in speaking Of the affairs OF the
city and what should be done 10 BRING
about an improvement, has expressed
himself I'm the following manner.
DEFICIENCIES IN REVENUE.
"Since 1890 the expenditures OF the city
have been annually IN CCess OF its cur
rent revenues. rs bonded II tciest-bear-
ing debt has inc. casCd IN that period mp
10 January 81. 1896 S1.5i2,5l5. while the as
sets Of the city have I'm the meantime also
been increased, and thereby, TO some OK
tent. form an Offset, yet they are not self
sustaining. but constitute an annual
charge upon our resources. and deplete,
as to that extent. Of funds we might other
wise disburse I'm present necessary I'M
provemcnts and wages The city Han
alone now sinks annually $4,000 20 Sf,oO
Of our current revenues. which misnt nave
been saved for street improvements ana
-thcr matters more needed.
1T has been stated that the CITY Gas
Works represent a value of one million
dollars. and that inasmuch as the bonds
issued for the construction OF the WORKS
have been retired long ago, the gas works
are now all paid for. This, however is a
great fanacy. for these bonds, when
bore from six to eight per cent. interest
were only retired by the Issuing OF Lew
bonds It must also be taken Into con-
sidcration that in no year the net re-
ceipts Of the gas works exceeded the tum
Of $4,000. consequently this surplus OF
the recipe has not even necn suincient
TO nay the interest on the investment.
1--WE have had 10 meet these Deficiencies
in revenue. yearly. by an Increase 10 our
bonded debt, and have reached the point
where we can legally and constitutionally
issue only 100000 more bonds. 1t would
be unwise as well as impracticablc GER
tainlv for the next two years 10 come
10 increase cur charter limit, which Is
now fixed at eighteen per cent. OF the as
sessed value Of the real estate. This I'm
Il is from three 10 four times as hlgh as
that usually imposed by city charters,
as its advance would not procure fair
value for further bond issues
METHEDS. NOT MEN.
eve NAV raise taxes, which, though
nominally 81 40, are based upon our as
sessed value Of gS 2-5 Of the fun true value
OF our real estate. and. If compared with
those of other cities. as New York. Phil
adelphia. and the West on the basis they
establish for taxable purposes, for sixty
per cent. of the value. our tax rate OF |
81 40 really becomes a S2.Sl tax rate.
"Our future development and increase |
IN values lies solely in encouraging man
ufacturing interests TO come and build |
within our borders. Capital Is always 1
sensitive. II we establish a nigh rate OF |
taxation. or an uncertain rate or taxa |
ton which always attends a large bond |
Cd debt. we imperil and defeat all those /
interests which we should court, and |
which make up our present interests ana
true property. In this. the mercnaut, pro-
fessional man. ard wage-oarner nave the
same interest. The appropriations Of The
city have not been made VITA tnat care
ana watchfuiness the real interests OF the
city demand. The fault lies more IN the
methods we pursue than in the men who
fs.t "a II loo