Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-11-15


persons believed to be conversant with
the facts, was carried out before the
Trades Assembly yesterday afternoon.
The discussion was arranged by the
Legislative Committee of the Assem-
bly,, but for some unexplained reason
there was preponderance Of repre-
sentatives on the affirmative side of
the question. Those who were present
to champion the refunding scheme
were Morris Horkheimer, who has
been termed ''the father of the Or
dinance;" Charles H. Watkins, City
Clerk; Alex. Forgey, City Receiver;
Matt Chew, president of the Second
Branch of Council; w. G. Wilkinson,
commissioner of the compromise loan
of 1860
Those who spoke in opposition to
the measure were Councilmen Charles
Ali, and Frank Cruise, ex-president OF
the Second Branch.
Chairman Bauer, of the Arbitration
Committee Of the Assembly presided
during the discussion, and prefaced it
with a statement of conditions which
he expected to be observed-nO per-
sonalities, the privilege of asking
questions, etc. Considering the in
clement weather, there was a good
oil oil fac- q n
ifested great interest in the matter.
The first speaker was Mr.. Chew.
He gave in detail the history of the
refunding ordinance, and the condition
of affairs leading up to it. The
Finance Committee, upon meeting to
prepare its estimates, found that the
necessary expenditures would largely
exceed the citys revenues, and the Or
dinance was framed as the best method
of providing against this trouble both
now and for many years in the future.
He briefly argued the points which
we've covered more extensively in the
written addresses of Messrs. Watkins
and Forgey.
Mr. Watkins followed Mr.. Chew,
reading his remarks from paper. He
spoke substantially as follows:
"The committee to whom the matter
was referred started out with the in
tention of doing what they thought
would be for the best interests of the
city and the citizens, and this idea
was adhered to throughout all its de-
alterations, and at no time was there
anything Of a partisan nature men
toned.
"Who will be benefited? I believe
the ordinance, if adopted, will be bene-
fetal to both the taxpayer and the
wOrkingman.
1.-The object Of the refunding ordin-
ance is to refund such loans as can be
refunded, and at lower rate of in>
terest. l wish here to impress upon
your minds that it is not the intention
of the city to go into the liquidation OF
her debts, and allow such things as
should be improved TO go into decay,
but to continue in business at the old
stand, no difference who may be at the
helm What | mean by this is, that il
the intention Of the city is to pay her
debts off and quit, the rounding OF
these bonds would not be asked for,
for there would be no necessity for
doing So but it is presumed that we
want to continue, for at least several
years to come, and to thus continue a
financial plan must be adopted by
which every department under the
city's control should be kept up.
The question has been asked, why
are the city's expenses greater. now
than they were several years ago, be-
ing larger in proportion than the in
crease in population?
This matter can be explained. For
several years past a large number or
our streets and alleys, old and new,
have been improved by paving with
brick, and as the years pass On these
streets, being constantly worn, need
much more repairs than formerly, and
it has been the custom in the past to
appropriate about the same amount
each year, and not to increase the al
lowance that necessity requires.
This year it has been out Of the
question for the Board of Public Works
to make such repairs to the streets,
etc.
The Loan COMMITTEE found the
amount of interest that would be saved
by the refunding of the bonds would
not be enough to meet the required
amount for these repairs, and to re-
trench in any Of the departments
would be a very difficult matter, as
some of said departments are already
inadequate.
''They then concluded to extend the
payment of the principal of the loan
ten years, knowing that the interest
could be provided for, and the saving
of principal for the time being could
be applied to these needed improve
ments.
1.-THE difference between the present
and new way in the finances would be
in favor of the latter; the new way CIV
ing the city in the neighborhood OF
about twenty thousand dollars per year
with which to make Improvements,
and this amount, if judiciously ex-
pended, should, in ten years, put the
city in genteel condition, and she
could then be in shape to commence
the payment of the bonds.
"The taxpayer is also benefited.
"The probabilities are, if the loan is
not adopted, other means will have to
be used to raise the necessary money
and what other way is left to get it bu,