River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1900-08-30
0fEIeefie Lights

A remonstrance, protesting against
letting a contract for an electric light
plant to cost more than $4,000, and
signed by nine Of our heaviest taxpay-
ers, was read at the last council meet
ing. This remonstrance comes too
late to be effectual. 1t is likely that
an electric light plant could be built
for SIS, 900 that would answer the de-
mands OF the city, but such a plant
would necessarily contemplate opera
tion by steam power. 1t is scarcely
probable, in view of popular express
sion as manifested last spring, that
a majority OF voters would have favor
ed $500 plant run by steam power.
1t was shown that the question OF
fuel would be one of great expense In
steam power, an expense that could
be eliminated with the use of water
power; but when it became apparent
that the water powers could be secur-
ed at fair value, and private parties
would buy, improve, lease and sell to
the city at its convenience, the people
were anxious that the city should Sc
cure lights under these favoring pros
poets and conditions. 1t would GER
tainly seem to be measure of econ
omy to have the electric light plant
operated by water power as contem-
plated instead Of building one to be
ri hu OF 10 fYa1n
shall be taxed little higher for a
few years to pay the extra expense in
Cured by the need of buying the wa
ter power eventually-in interest rep
resented by the lease-but il is wise
in municipal affairs to provide for the
| future for a city is not restricted to
the necessity of ''hand to mouth
| policy. The tax for interest the first
year, on the bonds and the, water
| power without considering the earn
ingS will be about $l100 and win de.
| crease yearly until the bonds are al
paid off when the city can assume the
amount paid for the power, and after
| the bonds are all paid off the city will
be in excellent shape to furnish water
and lights at a low cost. The feature
Of municipal ownership Of pronounced
benefit should be kept in view, that
of saving to the city the earnings OF
it's industries. Private owners add the
interest on their investment to the
cost of water and light, and this is
| repeated annually. After the city
comes into the ownership of such
properties it takes no account of its
original investment in charges for
water and light. If this plant with
the power costs $4,000, and it were
run by private owners they would add
to their charges seven per cent inter
est, and more likely ten per cent
$3.50 or $2400 annually. The city,
owning it and owing nothing on its
purchase, saves to the people this in
terest charge annually In operating.
The city Of New York attains to the
absolute ownership of its tunnel rail-
ways, costing $95, 900, 900, without the
cost of dollar in taxes to the people.
1t sells it's bonds issued for that sum,
raises the money, lets the contract
for building to company and leases
the road to them for fifty years, the
company paying the interest on the
bonds, and the bonds themselves as
they become due out Of the earnings of
the roads. The inference is that a
city, in operating an industry may
save to the people what private
company would make, which would
not be less than the interest on the
money invested In the property.