The daily journal. (Salem, Or.) 1899-1903, 1901-08-23
SALEM'S
o. BONDS
A Valley Paper Seems In
terested in Casting Doubt
on their Validity.

on their validity.
Tho Salem city council has passed to I
s.cond reading. an ordinance providing
for The issuance Of new bonds IN tue snH
~ s9o COO for the purpose Of paving that
or,ount OF bridge bonds, which will iall
J,,a on OctoberI. IL is thought by some
r., ,be contemplated issue Of refunding
hnrds is not authorized 10y the city char
ter. and that the city must wait untli
after the next session OF the leglslatnre'
| In the meantime, however, tne Clly nas
two offers TO carry the Indebtedness ior
~ - civ at a reduced rate Of interest.
rhs Ceni,al National bank, al the meet.
| in, of ihe council two weeks ago, offered
/ to carry the bonds at A per cent, ana
| Tadd X Bush offered 10 take care oil them
al Az Der cent, and IL is thought the
bonds can be ica,ed at the latter hgure,
crowded they can be legally isslied al
lthistime.-Albany Hearld.
The propoundlng Of the foregoing in
auiry by paper in a town twenty ODD
miles away indicates an inspiration
hardy german to the town Of Albany
lint sayors rather Of an interest inherent
to Salem. Yet public questions are
always pertinent, and this is deserving
OF the best answer that can be gwen J.
To this end a JoURNAL report called
upon City Recorder n. j. Judah, who
tated that the present character OF Il Q
CITY of Salem does not furnish, perhaps
direct and specific authority for the
reminding Of the $4,000 bridge bonds
I maturing on October 1st., but there are
certain rules governing the disposition
Of public matters that are not laid down
in statutes nor ordinances but wh'cn
II are. in the light OF public safety and
integrity. quite as imperative as the
formulated and written edicts under
= - which most public business is trans
ss acted. This is case in point.
8. Subdivision 10 of section oil the ex
" isting character Of Salem confers upon
'n the Common Council the following
authority: "To appreciate money 10
he anv item Of city expenditures, and Il
lis proylde for the payment of the debt
ng and expenditures of the city" Asid
No from this general authority, the charaC
aid tsr ia silent as TO what the city shall d
ing in the matter Of meeting its fixed ol
ne legations. such as the maturing BIRDS
10" bonds. as the original law under whic
they we're uttered contains nothing
relation to their redemption. Nor wou
,ms @ il be wide Of the spirit OF the organ
) IL authority under which those bon
" ~ were marketed, to hold that authorl
as inherent, and sufficient, for the purpo'
i 80 of the present contingency and to amT
the and legally justify the issuance oil
Stof si proposed reiunding bonds.
The council and officers now in char
of salem's public affairs are desirous
Iouqht maintaining the credit OF the city,
while too: well.known local bankl
houses have agreed to take care oil
,cert pending obligation at a sharp abatem'
WOOD of the interest attaching to the debt
question, IL is still deemed the duty
the city 70 redeem the bonds herself
,rIsh, authority sufficient for that purp
e OF shalI be found In the code under VIII
n Is she exists and does business. This
'stion matter, for the present. at least, in
and hands of the special committee
8 can pointed by the council at It's late sess
ana in this relation. and whatever shal
'rocer done in the handling OF this loan,
have the sanction Of the law itsel
Of the accepted rules of commerce p'
mast nent to the honorable adjustment o
ice re- business affairs, be they public or priv
ng his The substance of authority, tho
u P'o' that authority be meagrs. coupled
year, ,--.,., =, A.. o,o,ol ints
n and the ieuuc''on VI '"o
ehargesto the tune oi,S450, should dis
- violent criticism, or even the altern'
est naa,aooo opasoa q. in tn. pro~p' %ap' ' noe 'asn
roots Houidation Of popular obligation.
overs, .--.,-.-.-,.,,o. %, u.,.,,s
lation lns hvs' .''SS'iS S,,I,'" ~ Groves ia
ianner C6iii Fonic. i, Is simply iron aud quinn,
ithout asIelesl form No enre-no pay f''oS
ystem. ~
health D. L, Huntslnger. Funeral Director lo|
, dose street. 'phoue Red 2423, SaemOTeg0n.