The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1899-09-08
CALL A HALT.
Unlimited Expenditures of City
Funds Must Cease.
By Rigid Economy Only Can the City
Get Along Without Adding to he
Floating Indebtedness.

4uC COuuOl1 WILL uofC w OO lhOAO
economical during the next six
months than it has been during the
past four or it will have to borrow
money and add to the $751;, 900 Of float
ing Indebtedness. Last spring there
were all kinds of promises of reform
in the citY's finances and promises to
reduce the floating Indebtedness.
Contrary to expectation, the council
has been as prodigal as its predeces-
sors. New lights have been ordered
with lavish .hand, crosswalks built
wherever asked for, streets graded,
and in fact money has run through
the fingers of the council like water.
1t is true that there are returns for
nearly all that been expended, but
the city has gone beyond its means.
A halt must be called somewhere,
and If the mayor persists in his re-
fusal to sign new notes for borrowed
money the halt must be made now.
A Free Press reporter Friday inter
viewed Recorder Williams, Treasurer
Williams and w. III. Donaldson, the
city's expert accountant, and learned
what the probable receipts between
now and March 1st will be and what
the necessary expenditures will be.
The two sums balance so closely that
there is no fun in it for the aldermen.
There is but $500 to go on.
Eleven liquor licenses will expire
during the coming six months and it
is expected that ten of these will be
renewed, bringing in $4,000 to the
city. Treasurer Williams expects
that the November settlement with
the county treasurer will bring into
the city treasury $4,000, and that the
water rents will bring in $4,000, the
heaviest collections of these being In
May. Theresis now on hand $1,000 in
cash. This makes a total of 1877, 900
that the city has to go on from now
until March 1st. A few incidental
items may increase this few hun
dred dollars. Not much is expected
to come in thro lgh special assess
ments.
The salary roll for the coming six
months is estimated at $4,000, and the
various pay rolls at $4,000. The pay
rolls are amounting to about $4,000 a
month now, but in figuring the pro-
pable expenditures cut on one-halt
is made. Contracts now under way,
such as culverts, ETC., call for So, 200
more. Sundries, such as fuel for the
pumping station and other public
buildings, feed for fire horses, and the
Thousand little bills that are con-
staptly being incurred, will take
$4,000 more at small estimate. In
terest on the bonded debt will take
$1,000 and that on the floating debt
81, 500. This makes total of $26, 700,
and does not permit of the commence
ment of any new work.
The promise of rigid economy and
the gradual wiping out of the float
ing debt has not been fulfilled, and
cannot now be during the first year.
of the present administration. This
being the case, the council ought to
take up the floating debt with four
per cent. short time bonds, which the
city officers have assurances could be
fioated. Some of the holders Of
notes against the city want their
money, and they ought to have it.
The city is now paying seven and
eight per cent. interest on the float
ing debt, and If it can be refunded at
four per cent. it is strange that the
council would hesitate to do so.
But what we desire to impress on
the aldermen and on the people Of
the city most strongly is the fact that
it is absolutely necessary that the
pruning knife be freely used from
now on. The alderman must learn
to say "no" and to vote "no." 1t is a
condition and not theory that now
confronts the city.