The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1900-03-13

In the larger ad ynntages thereby secured.
But at the outset they are met Dy pecul-
iarly adverse state OF things, while Inc
objects OF the appropriations asked Tor
are manly unexceptlonal and even IN
proper sense almost indispensable IN their
character, nevertheless there is apparently
no way 10y which tine money can De o.
tanned for the desired expenditures, ex-
cent BY an imme Iate assessment OF taxes
at q higher rate than has Deen Imposed
for the past eighteen years.
In other words, any material increase oil
our expenditures must, III present eoudI-
tions are TO continue, surely IeBult IN
corresponding increase oil TAX rate, anu,
consequently, the citizens only aItefna-
tive Is either to moderate their demands
upon the puulic treasury-to content
themselves with Iess-to deter their
wants or olss to find relief from some
other gu rter.
Throughout this city, and for that mat
ter from one end to the other OF tnIs
state, there Is a growing feeling OF ais
content aud uneasiness over the amount
and character of the appropriations OF the
publ money, and the result upon the
burden OF taxation.
The belief is that before increased ex-
actions arc II ade from he tax payer, the
pa is entitled 10 nave bettei tesuNs
from the money EXPENDED, and that alter
efforts in this direction have been laIth-
fully tried, IL wall be soon enough 10 con-
slider tie question whether mere IS heeu
OF atilI higher taxation. The conviction
prevails that the conuuct OF our Guys
affairs is in many particulars such as
would be scout oy any business socla-
tion possessing any claim whatever 10 IN
tellIgenL and economical system ana
nu or vision. Other cities have AMENDED
theii ways IN! o conformity with modern
views and principles affecting municipal
management, and are experiencing graft
~ ing results in the way OF reduced ex-
penses and larger benefits. The pertinent
Inquiry il whether our own present
methods of municipal management are
the result of an ext emo conservatism that
blinds us TO our own opportunities and
advantages, aud prevents any change from
| established practices, or are Oocause
affairs are too olteU left to the tlmlo,
gu bseryicnt direction of persons tho nave
political capital made up oil mlsetaoIe
| mixture OF hypocrisy ana sefVllty 10 III
| tereets hostile to the public welfare
| The effort the past year to ke p the ex
| uenditures within the approprlatiohs-
aud " hicb has met, believe, with SUD
stantial success, had constantly In view
| and has served at least one valuable pur-
pose. 1t was 10 sharply oIEect publc al
| tention to the question wheshe tie ap-
| prouriations were inadequate, ana IL so
| how to increase them without raising ne
| taxes, or whether the demands Ior hppto-
prIatIons were unFeasonao BILE, and II 80, 10
I
rejection. There is urgent necessity oil
some remedy to give relief from the pres
| ent situation.
Inc power OF tine city to borrow money
is restricted by constitutional Limitation,
and the debt ii mt was reached long age.
In fact no permanent loan has been
effected since 1877, except 10 Fs'unolng
operations. ALI temporary ana must
l''be paid out OF money raised by TAXA
tion, during the year IN which they are
made"
In 1898 the tax rate was raised to S2l on
Sl,OCO, which was the highest rate that
had obtained for eight years. Last year
1t was the same as in 1888.
Our cIty's credit is OF the very best,
aud her financial showing as to Liabilities
and resources IS OF most excellent ana
Encouraging character, as Will appear ltoIn
the following statement prepared by the
city treasurer;
CITY DEBT.
The following is a correct statement OF
Ihe.CIty Debt March 9TH, 1900:
/ The Bonded Debt of the
City OF Portland. in
. Guiding S2Ol.7oO OF
bonds issued Oy ths
ApiiI l. 1898 was s2.S67, 100. 90
Trust Funds on which
he City pays interest G, $50 m
only, ol'Uoo' ~
.. Due on Fire boat, tluu. W
Due on widening Oak Street, z, OS6. Us
Due balance OF loan to City
Treasurer, 81, uoS. o.
/,
Gross Debt, 2.s9S, 0s8. rs
Less sinking Fund In
vestment ana Trust =,
Funds, l,6l0, l1o. ~
! Net Debt, april 1, 1899, sl,Ss2, 1901. VI
Bonded Debt, now out =,
standing, s-,eoa, !oU. y
TrusI Funds, W, alo. s.
"A Civ treasurer, 2O.O31. 9.
/,
Gross Debt, March 7, 1900. s2,9S6. 1873. 2:
Less Sinking Fund In
Funds. 1,65s, 449. 6:
| -----
, Net Debt, March Z, 1900, Sl.a27, 74s. 8
Reduction of Gross Debt,
during the past year, ell, $50. II
Reduction OF Net Debt, =,
during the past year. 90, los q
During the year 1900, 900 was hired OF
. tenn porary loan at the rate OF 2 ~ pei
! cant. and the note paid November !, 1873
! The NiIy has no Floating Debt, otnel
/ than the balance OF loan TO the Cltl
3 Treasu er amounting to 80, OSl. "
81 NO bonds hays been presented Tor pay