Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1901-03-02
How Long Will the People Stand This Sort
Of Thing Without Taking
Action.
In Some States, Rope Would Have Anticipated
the Law Long Before This
Stage.

The Grafters' Union has 1t all fixed
up with some of the drainage trustees,
so it Is said.
The water power and the spoil banks
will both go to feather the nests of the
Grafters' Union.
Mayor Harrison publicly declared
that he had received information that
the board Of sanitary trustees Is pre-
pairing 10 perpctrate an Outrage" up
on the people Of Chicago in surrender
ing to a private concern the rights to
the water power developed by the
drainage canal. Fear that the plans
which he credits the board with enter.
tanning might be successful has caused
the Mayor to rush his own plans to
meet the financial distress of the city
In view of the recent decision Of the
Supreme Court curtailing the power Of
the city 10 issue bonds In excess of 3
per cent of the assessed valuation Of
taxable property.
my plan has not been perfected In
detail" said the Mayor, "and rs yet 1t
Is subject TO work still TO be done by
Corporation Counsel Walker. At pres
ent two valuations appear upon tire
books--the actual value of taxable
property and the asscssable value lone
fifth. The actual property is $685.
500, 400. whereas the assessed value Is
only $27G,565,SsO. Upon that we are
empowered to levy tax of 2 per cent
and TO issue bonds up to 5 per cent.
II will lay before the City Council
plan to go to the Legislature asking
permission to change the asscssable
valuation from one-hfth to One-half.
That would give us the right TO issue
bonds to the extent of per cent of
1901 Ala, 700, or a total of S34,57O, ia"
'"rhe objection will be raised that the
city could derive great deal higher
taxes under this plan, but think l
have met that objection. Were we to
continue to levy 2 per cent we would
collect $13,SO0, 600 a year ana would
drive business away from Chicago. My
plan Ia to reduce the tax rate from ~
q hundred to 80 cents u hundred, cut
ting the percentage, but by increasing
the amount assessed securing relative.
~ the same amount of money. For In.
stance, last year we secured under the
present system $5,531,317. Under my
plan we would receive just $5,55l, ),
217.5O. That illustrates how little the
change would be In actual cash.
hn NJ nt m NIL
would affect taxes collected for Other
than city purposes, merely in system
however, without affecting the amount
| secured.
II realize that the water power OF
the drainage canal will be lost to Chi
cagO II something Is not done. II 1t Il
lost, 1t will simply mean that the
drainage trustees are recreant TO theil
trust. II they are faithful they vii
hold 1t for Chicago by some means I'm
I'll we are In position to take ndvan
tage of 1t. All talk to the contrary EN-
anating from the drainage office is no
based on fact.
"The transfer of that water power {,
private concern would be as great al
outrage and in every way as vicious
as TO turn over the streets of Chicago
to traction interests under u 50-yea
franchise. There Is no secret that an.
figuring on II viii be upon estimates
far below the actual value Of the prop
erty. As n matter of fact, was hand
ed tip before the Supreme Court CAV,
its decision that the drainage people
had in some manner anticipated the re
suit and We're holding private confer
ences 10 arrange plan for disposlni
of the water power,
'There has always been something
queer about the action OF the board II
this respect. We have never been abb
to get the contract I'm behalf of the cit,
in proper form. The old board he'll
back on one preteXt or another until
new board was elected and then cer
tain of the members declined to act un
til the new board was organized. Nov
they have good excuse TO get bus,
and will probably try to take adyan
tage of 1t. 1t Is great chance 70
graft ! am so much interested Il
retaining the power for Chicago tina
I will favor paying the trustees an an
nual fee not to dispose of II until W
put our finances In shape. ] favor max