Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-02-14
THE REFUND1NG ORDINANCE.

Ia vi 5dlo d1Ao AOlNlAL1Ch VI LIN ~
funding scheme do not seem to care
how wide of the truth they go in ad-
vocating this proposition. For exam
pie we have one organ brazenly de-
claring that the ordinance e that
the peoples gas bills will be reduced
fifty per cent! This is a more bare
faced falsehood than any yet put for
ward by the reckless advocates of
either this scheme or the previous sim
liar ordinance which the people wisely
defeated by an overwhelming vote.
Suffice it to say that if this ordinance
is adopted neither lighting bills nor
taxes, nor any other expenses of the
city government will be reduced for a
decade to come and probably not for a
generation. On the other hand, If the
ordinance is defeated another must be
Immediately submitted refunding the
compromise loan and empowering the
city to enter the field Of commercial
electric lighting, which it will then be
in a position to do with a free hand.
1t will strike the average citizen who
has kept track of the city affairs as an
exhibition of peculiarly bad taste for
the gentlemen behind this scheme to
offer this electric light argument in
view of the fact that they themselves
arc responsible for having buncoed the
city out of its privileges in this re-
spect.
If the people want cheap lighting,
electrical and gas, they must vote down
this refunding scheme. In this con-
nection it will be noted that all the
friends, henchmen and organs of the
electric light franchise grabbers are
logging for this refunding scheme for
dear life. This alone should open the
eyes of the ~people-the taxpayers. Not
only would the city be handicapped for
years in its effort to enter the field of
commercial electric lighting by the ac-
cumulatiOn and augmentation of in
debtedness, interest and other expenses
by the adoption of this ordinance, but
there would be no opportunity of re-
ducing taxation for probably thirty
years to come, while, if this scheme Is
put through our present city debt will
be as great ten years hence as ever.
On the other hand, if this ordinance
shall be defeated and the present wise
plan of paying a little on the principal
of our debt each year is adhered to. in
yen years the debt will cease to be a
burden, it will become a merely NOM
inal charge and the way will be open to
a reduction of taxation. Otherwise
there will be no prospect of the tax
payers OF the present generation having
their annual bills reduced.
Some Of the statements published in
behalf OF this ordinance are amusing.
In their utter recklessness, especially
the claim that the scheme is a "busi-
ness proposition" appealing to "busi-
ness men," What sane business man
would pursue such a policy in his pri-
waite business as is proposed in this
ordinance for the city of Wheeling?
What san business man who by set
ting aside a comparatively small and
easy sum each year could get practie-
ally out of debt in ten years would de-
liberately abandon such wise plan and
adopt another that would keep him
as heavily in debt as ever for ten years.
paying full interest the while, and pre-
vent him from getting out of debt for
at least thirty years! Say this business
man were a young man of thirty and
had a clear balance sheet In view in ten
or fifteen years through easy payments,
which each year left him more and
more of a surplus. Would his friends
not adjudge him insane if he should
abandon such policy and adopt one
which would not only cause him to
pay double the sum he otherwise would
but keep him in debt until he was
SIXTY?
Yet this is exactly the proposition
that this city is asked to adopt in this
refunding ordinance.
The Register would warn business