The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-01-30

Ludlow is turning over In his mind the
best way of asking Washington. through
| Major General Brooke, for leave to bond
the city so that the next generation as
| we'll as this one may have an opportunity
to pay for the renaissance.
| Ernst Lee Conant, chairman of The fuau-
cial inquiry commission deputed by Cen
! eral Ludlow to go into the finances OF the
| city, has prepared a memorandum on the
subject From among an orderly arrange
inent OF many dry facts the following para
graphs are extracted:
| The debt of the city Of Havana October
| Is, 1898. according to a statement iigned
by the alcalde and comptroller. was sl2,-
1859 and at the close OF the year the
total debt was about s12, 500.ooo.
1.-THE floating debt is prima facio a valid
obligation of the municipality and should
| be funded.
| But before making new loan" Mr..
| Conant says. for paying these debts. a
court OF claims should be formed. before
| which all the municipality's creditors
| should prove their claims
Mr.. Conant then argues: For city
OF the size and wealth of Havana debt
of 12,500,000 is not excessive. Under a
stable government and an honest admin
| istration OF the city's affairs 1t is probable
that its general credit is still sufficient
to float an additional loan. How large
4 such loan could be made am not pre-
pared to say without much further study.
The representatives of Dady & Co. express
4 their Willingness to take pay for their sew
1 erage and paving scheme cay 2,o00,0o0,
in general city bonds, which would. OF
course, be junior to the bonds already is
i sued, and they say that they have already
made arrangements with tinanciers in New
York to dispose of these bonds as fast as
|
the present city debt and add more than
one third to It's present annual expense.
The revenue Of the city is derived en-
| tirely from licenses and indirect taxation
keal estate is not directly taxed and the
municipality does not directly receive any
| thing from real estate.
The island imposes among other taxes
q tax of Il per cent on the estimated rentd!
OF all houses in the city and country, anu
| II pays to the city of Havana is per cent
OF the amount this collected in the city
. limits. 1t also levies a tax on industry
commerce and professions. and II pays q
the city NJ Havana "a per cent of all aucf
: taxes collected within the city limits.
!, The other sources of city revenues
: which are directly collected by the munich
: paIity, are the rent OF houses owned by the
: municipality. revenue Of the water works
/: slaughter house and market taxes on meat
!. coke and wood, licenses on factories an'
:, businesses of all kinds and various Hino
licenses The total estimated revenue 10
!. 1s97-aS is slightly in excess Of $1,000, 600
!; The tax on meat amounted to 100000
: "These receipts says Mr. Conant
!; "amount to between IS and $40 head
: and is rated down at 100000 population
!, In American cities 80 per cent or NOR
! Of the revenues Is derived from drec
J. tax on the assessed value of real estate
: including vacant property. ] am ,nclinu'
!, 10 think. although further study nigh
= modify this opinion, that the wealth o
Havana is such that judicious system @
taxation would yield a revenue Of flo Pc
!. head. or upwards of s30Oo.0oo, and This
if honestly aud judicousy collected an
, expended. would probably be twice IN
!, actual net revenue now enjoyed by IN
{. CITY The collection of taxes Of all KIND
/. was farmed out on basis II b per cen
|. commission for collection"
u General Ludlow has been informed D. D
:. others that about half the city's s2ooo,oV
:. has been going to the Bank OF Spain J
> cuba and the Bank of Commerce IN inter
5; est on bonds, interest on floating dep'
$: nercentsges In discounting notes and rev
= enues and in paying for collection o. taxes
!. Official records only say sis.st wa
i; spent on the fire department and $se'5io o
s. schools.