Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1896-05-27
no rHE Ep1roR OF rHE sprcrAron

Ii your paper OF tn1S GATE appeared
a number of short articles of "politi-
cal nature" written in the interest of
the primary ticket, which you are SO
ardently supporting. From one of them
the following is an extract:
.The city is suffering from ten years
of business ring rule, and a heavy
bonded Indebtedness. The revenues Of
the city are wholly inadequate to meet
the lavish expenditures of money, and
bonds are issued at almost every coun
Gil meeting"
Now as long as the primary managers
and the city papers, which are support
ing the primary ticket, saw fit, or
thought it necessary for the success of
their ticket, to make reflections on or
say things about the "old council. !"
personally, l had nothing to say. l, to-
gether with other members of the pres
ent council, had not only been asked.
but urged, by many of the primary
managers to submit our names to be
voted for at the primary and were as
sured, if we did SO, that we would be
undoubtedly elected. 1 know, there
| fore, that the unkind things which are
now said are said in a Pickwickian
sense, for political effect, and that moth
ing is meant by them, so far as we are
personally concerned, and we have tax
en- no notice of them.
When, however, as serious and as un-
warranted an attack is made on the
credit of the city as in contained in the
extract above quoted, feel it my duty
as citizen, and for the time being at
least, an official of the city, to make a
reply.
You say that the revenues of the city
i
lavish expenditures of money and that
bonds are issued at almost every coun,
Gil meeting.
There have been seven bonds issued
since the LIST day of May, 1895, as fol.
lows:
May lst, 1895. for small pox.... ..... lOOOOU
Nov. 1St 1895, for small pOx. 100000
May lst, 1895, to take up bonds II.
July ist, 1855, for street improve 000o
ments and Market House. ......... 25,OOOO(
Jan. LIST, lS96, to redeem 8 and per
May 1885, to redeem and per per ''''''''>
cent. bOndS..... $4,000. OK
All of these are five per cent. bonds
except those of July LIST, 1895. which are
six per cents, and those issued at the
last meeting, which are Al per cents.
The saving to the city on this last is
sue alone. in the difference of interest
to be paid, amounts to over $13, 600 90
If we could have bond issues of this
sort, it might he well to have weekly
meetings of the council.
But this is not all. By reason of the
refunding of the old debt, or as you
term it, issuing bonds at almost every
meeting, there is now in the sinking
II fund over, and above all legal require
i 70 IL 0fO0 10 4 ~
by my statement, $99, 6O7 O0) all invest
ed in city bonds. As soon as July in
terest is credited to the sinking fund
these bonds can be cancelled, and the
city debt reduced nearly $115. 600 90.
This will be an annual saving to the
city of over 100000 and will reduce
J the city bonded debt to about $474 900.
!. 90, most of which is five per cent debt
and about $58, 600 90 of which is hello
by the sinking fund.
Now as to the revenue of the city
When claim against the city is allow
ed by the council, the clerk makes out
a warrant on the treasurer, which wheI
lpaid by him is receipted and surrender
ed by the creditor. Not single war
rant has been torn out of the warrant
book for over five years past. They
have been receipted in the book anG
paid without being taken out OF the OF
flee. Nothing more need be said or
this point.
A city that can float a Al per cent
bond, and that has not had warrant
outstanding for five years, and thai
has the lowest tax rate of any city in
the State of Virginia, is certainly moi
in financial straits.
i l hope the primary ticket can find
some better way to advance their in
terest, than by assaults on the credit
of the city. You seemed to be ignorant
when you wrote your article, of the
above facts, and l ask that you publish
this communication in order to correct
the wrong impression you may have
produced on some minds. Inasmuch
as your paper does not appear again fol
a week, l send a copy of this to each OF
the daily papers, with the request that
they publish it.
Respectfully,
RICHARD p. BELL.
May 20, 1896.