Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-26
THE CITYS FINANCES,
N5 Carlton Mccarthy Speaks
Before the 7, N, B A.
richmond IN GOOD SHAPE
n, Ground, He Says, for The ShriekS Of
Calamity hOKl6fS.
rur ROAD TO TIDEwArER.
-.,,,ittee of Citizens from That
section Ursc the Importance of the
rrtcrprisc TO This City-The State
o,pcrship of Oyster-Beds.
mn ROAD TO TIDEWATER.

,----'v attended and exceedingly in
..-....-- meeting Of the Young Mems
r...-..s Association was held in the
....-.v Han I'm the Chamber Of Com
.-.--. H1Id0ng last night, and in addi-
,... t. an address on the city's finances,
...-. r.v Mr.. carlton Mccarthy, City Ac-
...-..rt the questions OF now oyster
,.-.s .r Virginia and the construction OF
.. -..-ric line from this city to pene-
.--t. .fe tidewater counties, now almost
accessible from Richmond, were elabo-
-.,..r discussed.
Among those present were General
charlie. j. Anderson, John f. Jackson,
I1f. hin. Richard Meade, John f.
r-r p. r. Pollard. r. l. Winston, f. II.
r..r. II. w. Rountree. T. w. Chelf.
n- q. A. Mercer. Herbert Funsten. DIR.
1g5 H Wood. Arthur 3. Clarke, NJ. r.
ANS. Robert Lecky. Jr, Julian Bryant,
w ~ Reddy !. 5. Moore. Colonel John
,r---rv. Edear Ferguson, Garrett Wall,
r,m Montague. Deane Maury II. d.
r.,hercer. b. H. Wise. Major f. T.
sst.a. W. ID. Carter. of Essex; w. G..
Pollard. Of King William, and J. w.
Fleet. Of King and queen.
AIR. MCARTHY'S ADDRESS.
s- arthur 3. Clarke introduced Mr..
Mccarthy. He paid a high tribute to Mr..
Mccarthy. both as an author and a
trsncicr. and spoke briefly of the neces-
..tv Tor proper hnanciering 70 insure
good municipal government
ar. Mccarthy. In the outset, said he
would make no attempt at oratory, but
would simply endeavor TO present a pro-
Iar view of the city's finances. He said
Le loved Richmond so we'll that he would
rather remain here as a third-rate clerk
'r f1 live elsewhere as a millionaire.
Io .ivg anywhere else would be living
death t1 him. Speaking Of young men
a- l factor in the worlds AFFAIRS, the
speaker referred 10 StOnewall Jackson
and d. i. B. stuart, both of whom
achieved worldwide fame ere they had
reached the age OF 30.
-ir. Mccarthy told several anecdotes,
and then laid down the proposition that
good inanclering was the highest benev-
..elCc on earth. and bad financiering was
fla most remOrseless cruelty. He then
discussed the city charter, saying that
OBJ. statements which had been so fre
s.el.y made that this city's charter is
sGuqIated are untrue, and to substan-
Slate this assertion he showed that the
charter had been frequently amended.
r. you eliminate from the charter all
n .ts original features or paragraphs "
ls said you take from it its very life,
a.5 will absolutely destroy its usefulness.
I.- trouble which the city of Richmond
las had for thirty years, and has to-day,
Is due 20 the fact that the City Council
las d.sreRarded its provisions"
DON'T WANT COMMISSIONS.
Str Mccarthy referred briefly to the
uu.Ications which exist in the charter
.. Greater New York. The speaker Vigo-
.-...y attacked the idea of running a
ullclpality by commissions, and said
t.t 40 greater fallacy existed than the
..a that this city would be benefited by
.umission rule.
The importance Of careful selection OF
c.r-nmen was emphasized by the
..5.ker. and he then passed to the prin-
.nI subject Of his address-the city S
finances. lie said that all the talk to the
effect that the city was on the verge of
I..sr.rtcy was the veriest foolishness,
.al said the city had $4,000 or $4,000 in
bank which 10 would like to invest in its
bonds. tlt was unable to do so, because
r.r. .f ..s bonds could be found on the
market
$50 EXTRAVAGANCE. Il.
Tho ea.r.a of wastefulness on the part
Ot The city government was gone into by
tle speaker. and he showed that the an
llaI expense of running the city of New
iar, was So per capita; Of Boston, $5-
l.r capita while that of Richmond was
.H E5 per capita. Mr.. Mccarthy made
t.y humorous illusions TO the attempts
H..a have from time 10 time been made
toward Ieuenchmcnt, and then discuss
Hr Me c.tys bonded debt, said that the
-ilast on this, together with the amount
t.-s ssary for redemption, was already
a.-s one third Of the city's revenues.
Ii- total amount thus expended each
I..r was $ls2 CO., and one-half or the
-.0fe revenue was necessary Tor salaries
and running expenses. Yet there had been
gathered in two years in the city $
Eug fund $4,000 If the fund had
l... .Iowed 10 accrue since 1870, as pro-
t..I by law there would be N,220,WO
Instead Of the SZZ0,Oo0. Bonds were re-
deemed by the city previous TO the past
Two years. Mr. Mccarthy said, Dut II the
money used for this purpose had Deen
placed in the sinking fund the interest
a.crl.ue on IL would have made the city
ato 20 hqu.date a large portion Of its IN
teoreduess.
DON'T WANT CLEAR WATER.
"Tre city OF Richmond" Mr. Mccarthy
SAID. "is in better condition as a mu-
le-4uty than any city Of its size IN TINS
country" lie then asserted that therc
Was no necessity for a large expenditure
0f money for clarifying the city's wafer
and continuing said: yet the city mas
l..u damaged by the most outrageous
Canning. and exaggerated ISLANDERS Of the
Richmond papers who have been raising
3D. great hue and cry about the alleged
0a4 water we have here. j just thought
] would abuse the papers enough 10 get
some mention. but what / said mean;
they can't blow enough about Richmond
lH the next twelve months 10 overcome
ih- damage they have done by their criti-
riim OF our water The trouble IS, they
nave undertaken 20 discuss a subject
which they don't know anything about"
In i've years. the speaker continued, re-
turning 10 a discussion Of finances the
hgh-rate bonds Will mature. and be sue
cacqcd by iow-rate oneS: property values
win Increase, and the city will be at least
10000 better OF than II Is now. he then
pitched into the calamity howlers, and
said there vag no reason for such slrlekb.