San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-02-02
THE SUNDAY LIGHT.
SUNDAY, FEBRUARY ., 1896
SHORT STOPS.
What the People are Saying.

management of our city affairs
should, II they could suggest a
remedy for the evils they complain
OF. "Short Stops" may be fault
nnder, but we always try to point
out q remedy.
Inc city has passed its third |
month OF delinquency; it is the |
only business esta blishment that |
could stand such a record, but |
everyone believes the city is good |
and the faith in its credit keeps it |
going.
The present administration has
fallen heir to all the financial
troubles and botheration of the
past ten or more years.
That they have not corrected
many of the causes that have kept
the city delinquent in its pay
ments, may be to their discredit.
TO say that the present admins
trat1on Is no better and no worse
than their immediate predecessors,
- not much OF compliment in
view Of the fair promises made to
the people.
The habit Of borrowing money to
pay of current expenses and pledg-
Ing the current revenue to repay
the loans has kept the city treas
ury as dry as church contribution
box. To get the city out of this
"dilemma" the people voted $780,
700 In bonds to pay off past due in
debtedness-the people expressed
their confidence in the administra.
ton In the most emphatic way
possible by this vote.
1t seems that the city financiers :
made mistake of about 100000
In the amount needed. 1t will be :
remembered that an official state
ment was published giving the !.
separate bills intended to be paid, ;
and to make it come out exactly :
even several small bills, one for 5.
Piss were put in, u
Also the bill of the Sisters of
Charity hospital, which has since
been withheld on the ground that T,
1t was barred by Limitation, was on
this statement that the taxpayers -
believed included all the bills that ~ =.
were necessary to provide for. 81 .,
-
Well, despite this 100000 sur w
plus money, provided in advance CO
Of tax collections, the city was be!
hind on the LIST of January, some nj
$77, 900, with little or no money on p
hand to meet its current expenses. hi
= Jc
Mayor Elmendorf sets forth the M
condition in his last mes =,
sage and says that as he had failed tn
to secure a loan from the banks he w
could not see any way out of the
dilemma. We have pointed out ~
way; let him draw his warrants on 50
the treasury against the specified NJ
as the charter ar
plainly provides he shall do. lo'
This was done in February, '94, w,
,nly that the interest bearing war Y,
rants then issued, were required to on
be presented at a certain bank OF ~
which the city had made a loan r.,
;hus securing to that bank the
interest upon these warrants, and in
securing immediate payment. -,
we
Should the council enact an ordi-
nance similar in terms to the one ba
.ited, and issue warrants to its hi
employees and creditors, it is quite Sy
certain, the holders of such war
ants would find them good COL
ateral at all the banks.
LIE
The plan OF borrowing money
rom banks holding in deposit F.
arge sums of money, special funds lee
i the city, which special funds on
vill not be called for months If not Pr
or years, is very much like the 90
ity paying interest upon its own be-
money.
de
Should the mayor conclude to an
raw his warrants, or the council
uthorize the issuance Of series bu
I warrants bearing interest, and DE
hose warrants were offered to the sc,
1t would soon be demon
trated whether the city had M,
redit. in
WI
No creditor of the city would be mt
to take sucq warrants .
Mess the money wa on hand for ne
payn or but there is wi
OF likely to be refusals. an
me
One falacy should be brushed 7
side, snatis that any loan, or the Ac
.y6e OF any warrant for debts al are
sady made would be anticipating DIR;
mr. ravenue-it is already antici- by