Daily capital journal. (Salem, Or.) 1896-1899, 1899-03-28
THE BOND ISSUE,
A Proposition that an Hon
est Man Can Support.
Shall the City Have the Option Of
Using Call Bonds or a Reissue
of Warrants.

| lue cry, 'JUaU TeCkleSS eAJTdNd-
gance in the conduct Of municipal af q
fairs In Salem, will obtain as soon as
the warrant debt of the city is re-
funded into 4 per cent BONDS," is no
more true in its relation to THAT
phase Of refundinR, than IL would be
If the debt was trdnsposed upon 81
per cent WARRANT BASIS. Nor
will it prove true in either event, Of
the people OF Salem. Keep 1.-THE bit
10 their teeth" aud seek out and
elect men VINO haye the purpose and
ability, 10 direct aud protect, the
energies and rights OF the people.
Horse sense dictates the adjustment
OF every 'debt, public and private,
upon the lowest interest basis obtain
able. Salems warrant debt OF $50
600, which MUST be founded, is no
exception TO this immutable rule and
practice OF the business world. To
bond the debt at per cent will cost
the city just 81 200 less year than TO
Taxpayers of Salem, business is busi-
ness, Vote for bonds on Thursday.
Figures do not lie. The difference
between 4 per cent per annum and 81
per cent per annum, on Salem's NUM-
cipal, warrant debt OF $4,000 tells the
story. Vote for home bonds at per
cent per annum. on next Thursday,
and save the city $1,000 a year 10 in
terest.
The Citizens council is striving TO
reduce all public expenses, including
the city's annual interest burden.
This latter they will scale down fifty
per cent, If the taxpayers vote for
bonds on Thursday Dext,
Salem's $50, 900
Bonds, per cent, 'cOst-------- 1920
Warrants, 81 per cent, cost AGO
Bonds, cheapest by y.----------- l,2OO
Vote for bonds on Thursday.
Voters, remem Der the council you
placed ia power, in asking the bonding
privilege at your hands on Thursday,
asks simply TO pay of your munscipal
debt in the cheapest, possible way.
They did not contract tie debt, but
must arrange for its payment.
The debt TO be funded by this city
is approximately $4,000 upon which
interest has accumulated to the eX-
tent Of $4,000; making debt OF
$4,000. The council asks permission
of the people TO refund this in home
bonds at per cent year, at a cost OF
1920 The opponents OF the bonds
and frlenus Of the refund warrant
plan can offer nothing better than 81
per cent, or 81, 400 per annum. Any
tax payers school boy or girl can
figure the 81, 200 advantage TO be
gained by bonding. Vote for bonds
on Thursday next.
The issue bending settlement by
the taxpayers Of Salem, on Thursday,
next, is in'the fewest possible words,
"Shall Salem pay annual interest on
her warrant Indebtedness OF $4,000.
With home bonds at per cent,
costing $1,000 per annum ?Or
With refund warrants, at 81 per
cent, costing Sl,4OO per aHnum ?
Differences Ia favor OF the bonds,
81 200.
Vote for the bonds.
Where is the man, having debt he
can0Ot pay at once, who viii not be
glad Of an opportunity 10 cut his in-
terest bill down so per cent? That
is what Salem asks. the privilege cf
doing with her present outstanding
warrant Indebtedness. Vote for
bonds on Thursday next.
Salem's warrant debt, $4,000. Re
fund it 10 home-bOnds at per cent.
Vote foI bonds on Thursday next, aud
save the city $500 per annum,