The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1898-01-13
A REPLY TO ANN L.
To the Editor of the Press:

To the Editor of the Press:
1 spent an hour studying the communi-
cation signed Ann L. in hopes of finding
An anti-annexation argument, but while
your correspondent has succeeded in
writing q pretty smooth composition he
has slipped up woefully in some Of his
figuring. First he says that Portland's
gross debt is ia per cent of her valuation,
a fact which is not denied, but she would
have to borrow only 3.3 per cent of her
valuation to pay dollar for dollar. On
the other hand behring's gross debt is
practically her net debt. Let us suppose
Ann T. owes sundry bills to the amount
of one hundred dollars and he has fifty in
his pocket How much is he in debt? The
anti-men say one hundred, common sense
says fifty, for that is what he has got to
raise to get out of debt.
His second statement gives Deering a
debt of 1851 800 today and says that the
total valuation at end of present year
estimated on an increase OF last two years
is 81, $50, 0o0. Here, believe. is mistake
No. |. The valuation of q city is taken
the first day Of April in each year and
stands until a new one is made. We do
not know Or valuation today, but we do
know our debt, and it mas been shown to
be 33 per cent of the known valuation.
Now the first day of April, 1898, less than
three months away, the assessors will pro-
ceed to give us new figures, against which
we must compare the debt. And these
figures are what behring's officials must
use in transacting the business OF 1898.
Now Ann Il. raises our valuation $500. 600
as O result of 1897 gro Nth and then calm
" says "our valuation OF the end of the
coming year will be SIS, 255 .000'' if the
proportional increase of the past two
years is maintained (Which will mako
our rate per cent 3. ga But his $500, 000
increase already added must stand until
April 1. 1889, and your five and quarter
millions are figures for year later, A.
D., 1900. He gets a rate OF 90 by adding
over three quarters of million to our
valuation-one years debts to be Offset
by two years growth. Why dots he stop
at three q uarters, why not take round
million, 1t sounds better and reduces the
rate per cont.
him in figuring the debt to be accumu
lated during the coming twelve months.
Take his own figures to start with$15l 900
add $40, 900 to complete the High school,
making $i9l, 600. About one-third of
Forest avenue has been completed at q
cost of Sl5 900; competent men tell me it
cannot be finished for less than $4,000,
and others set it even higher, but we will
take this amount, making $216.000. Add
to this the city g third of sewers built
$4,000 and we have 1921, 600 There are
several smaller items. but here is enough.
Now against this l am willing to concede
one years. increase in valuation, and
while | do not believe that any reasonable
Deering man comedies 100000 increase.
1 will accept Ann T. s valuation Of ST.
800 900 What are the tiguresY Within
less than one-half of one per cent of the
dreaded per cent limit. In other words
our permanent improvements must come
from taxes alone. This is a fact for every
house owner in Deering TO consider we'll,
and not dislnios it wisA0as u sseoaa.
thought. When'the debsrNmitis reaohsdy