Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1901-10-03
Effect of Addioks Republicanism on
g4tItW County's Credit.

Effect of Addioks Repubiicanism on
g4Jk County's Credit.
) While the following, taken from the
editorial columns of the Sussex journal
OF Georgetown, is the expression of a
party organ, it has deep Significance:
II is no credit to the county that
loan of $50, 900 on first bonds of Sussex
county should go begging for taker.
Those who first accepted the bid for a
loan of $50, 600 authorized by the last
Legislature, bonding Sussex county, |
threw up their bid. a second offer was |
ACCEPTED by New York firm. That |
not a single bid was received from any |
party or person from this State shows |
how little confidence the people OF Del |
aware have in the financial ability of
the party that 10 now conducting the
affairs of Sussex county, Surely it
cannot be said that Sussex county is
not good for a loan of $50, 600, but
man does not care to loan money to q
reckless individual, even though he has
the Substance for the proper security of
the loan F.; the same principle applies to
loans, to corporate bodies or to com.
munities. The affairs of Sussex county
have been managed SO poorly and ex-
travagantly under the Addicks regime
that the people of .his State are sus-
pioious and will noG give her credit.
This is an admission shameful to make,
but it IL a truth nevertheless, and we
must plead guilty to the charge. Ad-
dicSsism has brought the credit Of Sus-
sex county to sorry plight.
OF course, partisana of the Addicks
Republican stripe will endeavor to dis
count this severe arraignnent by point
ing out that the Sussex journal 10 a
political opponent, but the fact upon
which the journal bases it's structures
Ii of itself deeply significant. This
fact Is that an issue of bonds by Sussex
county to the extent Of $50, 900, ordi-
narily what would be termed q gilt.
edged Investment, is offered to the
public and finds no takers.
There must be some reason for such
an extraordinary situation, and as the
Addicks Republican party hes been in
control Of the Sussex county government
for the past decade, it is Incumbent
upon the A idlcks Republican admins
tration to give satisfactory explana-
ton of this dreadful slump 10 the
county-s financial credit, or accept the
responsibility for the came.
Ordinarily, tho bonds of State, a
county, or municipality are consid
cred the safest kind of an Investment,
and their security has made them sc
sought after that, as q rule, they can be
fcated at low rate of interest. When
they fail to attract the Investing public,
as did this issue Of Sussex county
4 tonds. there must be reason for 1t.
Bad government will affect the credit
Of a community to material extent
but mismanagement, or esen dishonesty
= will not do this completely, unless ther'
Is something back OF it. So long as th,
credit of the community is maintained
by prompt payment Of interest, ans
tho security of the obligations is no
actually impaired. they will be sough
after and accepted as good Investments
The failure OF the Sussex county bon'
issue to find takers can he explaine
only by the fact that people wit
money to invest have lost faith in tn
county's credit, and no longer look upo
its obligations as good investments
And this is an evil for which the ad
ADMINISTRATION OF the county alone can b
held responsible.
The administration of Sussex count
Is of the Addioks Republican stripe
and Sussex county today has not cred
sufficient to float bond issue {
500, 900. although there is no doubt thu
the county Is able TO make such an oil
legation good. Ii is the Addicks RI
publican administration of the count.
therefore, that is responsible for tn
manifest and disgraceful distrust.
With the experience of Sussex coun
under Addicks Republican rule befo
their eyes. the people of Delaware a
not likely to venture upon the diss
trous experiment of placing their Sta
under the control Of such dIstrus
breeding organization.