The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-03-22
REGISTER ECONOMY,

Aho Errhlc Soufho OF mo market street
Sheet Exposed.
To the Editor OF the 1nteilgenccr,
sIR--The Register throws aside It's
false IDEAS OF economy and tells its peo-
pie whom It deceived last fall into de-.
feating the refundlng ordinance, that
we ought to have better police protec-
ton, an improved FIRE department, bet
ter streets and sewers. 1t knew then
Just as well as Il does now that these
things were needed and could not be
had and meet the interest and maturing
bonds ofgthe city without doing one Of
three things: Increase the tax rate,
making estimates OF receipts greater
than the facts would warrant, then
make appropriations, based upon such
fals.fled amount Of revenue, cover these
appropriations by issuing orders to be
accepted by che receiver to cover a de-
felt upon which to pay, per cent inter-
est. or adopt the refunding ordinance,
which It danounGed as a political scheme
"a 1t knew the Increase OF taxes would
not be acceptable even 10 Its fractional
part OF the people, trltling as the amount
they would pay would be, and while the
second proposition has had precedents
to justify 1t. II is not one that recom-.
mends itself to fair minded legislation,
and would create a floating debt upon
which 10 pay a high rate OF interest, In
creas!nS the contingent expenses Of
the city $500 10 $1,000. under all the cir
cumstances an Increase OF expenditure
thus bringing no recompence to the peo-
pie. who pay the bill.
The Register opposed the ordinance
as political scheme; 1t was such just
because the party. in power and project.
ing It was the opposite to that advocated
by the Register, only this and nothing
more. Certainly II contemplated no
special benefit TO our party that would
no. be enjoyed by another. II any party
would be credited with It as wise
measure the projectors would be en-
titled to that credit and tnis is what the
Register feared 1t did not loye the
city and citizens less but 1t feared the
effect 1t would have upon It's party more.
II the ordinance had passed, there
would not now be any fear OF an in
crease of taxes nor OF an issue OF out
standing orders TO cover deficit IN the
revenues OF the city. Bonds of the city
have been sold at second hand, at a
premium OF II per cent. at a FINE when
money.was not so plenty as Il IS to- day.
1t sgtrue the bonds referred TO, pay G
pericent interest. but at the price4 per
cent bonds OF other cities have sold
within the last six months IT is wittin
bounds to say the SAL, 500 Contemplated
TO be issued at January /. 1898. would
have realized nj least $4,000, and instead
of paying out s65,554 "A principal and in
terest In the year. 1898, we would pay less
than 49,. 900 principal and interest. The
same party that protected the retunding
ordinance could and no doubt would
have reduced the. taxes, by ten cents on
the $500 without exhausting the entire
premium.
I will close by quoting from cores
pondent OF the Register under date
November 90, 1897.
Mark the prediction, the. appfopria-
tons already made for this year will
never be realized from receipts and the
result will be more outstanding orders
after the LIST OF January. Another
twelve months of Reform" APPRO-
PRIATIONS5 NOT REAL1ZED? Read
the report. s",AUNTY"' and sea IL they
were not more than realized.
st5. sjdss A. H. FORGEY,
Wheeling, March 81.