The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-09-04
The Financial Policy of the City Adj
ministration Analysed and
Deductions Made.
PRESENT CONDITION OF CITY
MADE TO CONCEAL TRUE
SITUATION FROM PEOPLE.
some Attention Paid tn Mayor Tag
CARTS Latest Message-Campaign
Opening-Other Speeches.

campaign at a large and enthusiastic meet
ing given under the auspices Of the East
End Republican Club last night. Nearly
all Of the candidates were present, and a
number Of them made speeches outlining
the party policy. The meeting was held in
the open air on a number OF vacant lots
just opposite the clubhouse of the East End
Republican Club, on East Michigan street.
The grounds where the meeting was held,
the clubhouse and the street between the
two places were beautifully decorated with
Chinese lanterns. The big crowd. variously
estimated at from eight hundred to one
thousand people, was in an exceedingly
good humor and gave it's undivided atten-
ton TO the words Of the speakers.
The women of the East End, not to be
Outdone in party loyalty by their husbands
and brothers who belong 10 the club, served
ice cream and cake to the crowd and intend
to devote the proceeds Of their sales TO the
Republican campaign fund. w. H.. Pearce.
the president of the East End Republican
Club, presided at the meeting and intro
duced Charles n. Bookwalter, the Repub-
lican nominee for mayor. as the first
speaker. MIR. B~ookwalter's presence on the
speakers stand was greeted with enthu-
siastic applause, and his first speech of the
campaign was liSltlcu 70 Ill AAdAlltS
interest.
In the beginning he spoke of the ques-
tons which Mayor Taggart had pro-
pounded to him touching upon some Of the
which he made in his letter of
acceptance to Chairman Logsdon, of the
Republican city committee. He declared
that Taggart's interrogatories were only a
scheme of his to postpone the discussion of
the real issues of the campaign. Many OF
the questions which Mr.. Taggart had
asked. he said, had already been answered
in his letter of acceptance.
Each question shall be answered" said
Mr.. BOokWalter, and IN "a manner thaI
will dispel any uncertainties that may eX-
list in the minds of any of the citizens or
this city"
MR.. ROOKWALTER'S SPEECH.
He then proceeded TO arraign and pune
ture the financial policy of the present
Democratic administration, saying in part:
This campaign is to be fought out on
issues vitality affecting every citizen and
axpayer of Indianapolis. The manage
ment of the financial affairs of the city OF
Indianapolis during the past six years has
been of such a character as to cause alarm
To every thinking taXpayer of Indianapolis.
Taking the city, as Mr.. Taggart did In
1895. with a cash balance in the treasury,
without a single dollar of temporary in
d~ebtedness and with all the taxes due the
following month unanticipated, we find
ourselves to-day with an increase of the
DoiuSu utDl II lit city uuIlll6 IL past SIN
years of 1893, 200. with every dollar of money
drained from the city treasury, witt tenn
porary loans asked for far in excess of the
2 per cent. constitutional limit, with no
place 10 turn for further funds with which
to meet the unpaid obligations of the city.
/ say to you, my fellow-citizens, that this
presents a record of mismanagement, of
wasteful and extravaganza expenditure of
public moneys which mas had no parallel
in the history of the State of Indiana.
REMARKABLE FJNANCIERING.
81 desire to call your attention 10 the re-
markable fnanciering Of the gentleman
who to-day is the guiding genius of the
controllers office: In a request made to the
City Council on the 5th day of August. the
controller submitted estimates of the
amounts of money which would be required
TO pay the city's obligations for the months
of July, August and September-estimating
that there would be needed for the month
OF July the sum of $780, 900. for August $40. 900
and for September, $4,000.
The Republican members Of the Council,
believing that the honor and credit of the
city should be placed over and above tenn
porary partisan advantage, granted au-
thority for such temporary loans; but TO
sooner had such authority been granted for
the July and August loans than a second
communication was received from the city
controller. admitting that his first esti-
mates had been in error-admitting that
nearly 5000 % of July bills had been with
held, and asking for an additional SO, 600
with which 10 pay July and August obli-
cations which he had not scheduled I'm his
statement TO the Council submitted Origi-
nally.
"The consistent course Of the present adj
miniStratiOn has been TO conceal from the
people a true statement of the condition of
the city'S finances. At no time since the
adoption of the 59-cent levy, and since a
Republican Council by refusing to issue
more bonds the proceeds of which could be
applied to the cOncealment of the true con-
dltiOn OF the city treasury; at no time has
this a1Dninfcf a ton told tho nonIa n ~
truth.
To-day we are told by the city controller
that it will be necessary for the Council 10
authorize a further loan OF $4,000. instead
OF $4,000 as stated as late as Aug. 5, with
which to pay city obligations which have
heretofore accrued and the existence of
which has been concealed from the people.
and other bills to accrue during the coming
month. In making this last request, my
fellOw-citizens, this administration has been
compelled TO strip away the last shred of
the mask which hey have held over their
record; and they stand to-day before the
people of Indianapolis convicted of almost
criminal acknowledgement of city affairs;
and with brazen effrontery asking a Re
publican Council to authorize them TO make
a loan which will carry the debt of the
city beyond the constitutional 2 per cent.
CONDITION OF THE CITY.
Let us examine, my ellow-citizens the
situation into which this city Of ours has
been brought by this administration With
temporary loans OF $4,000. the city has
reached the constitutional debt limit and
can borrow no more; but. in order to meet
the obligations which we are told by the
city controller will accrue between now
and the first day Of October, a further
sum Of $4,000 will be required. Section so
of the charter OF the city of indianapolis
reads as follows:
The Common Council shall have power
TO borrow money TO an amount not eX-
Ceeding , per cent. of the taXable property
of such city. as the same may appear on
in which such loan shall be effected, pro-
vided that the entire money borrowed shall
not at any time exceed , per cent. OF the
taxable property of such city
THE taxable limit of the city of In
dianapOlis under the present duplicate is
s.. 900; the bonded debt OF the city of
indianapolis at the present time is 2.276. 700:
adding 70 this bonded debt the temporary
loans OF $4,000 and sac, 600 heretofore made.
together with the $500 asked for at the
Monday night Council meeting. brings the
debt OF the city OF Indianapolis up to the
this sum from the constitutional debt limit
would leave the city capable OF borrowing.
under Section 80 of the charter. which gov
ems the city in the matter OF temporary
or permanent loans, the further sum of
So. 800. In the face Of this limitation Of the
city's powers and tights the able h~nancier
who now conducts the business Of the city
in the office Of controller has asked a
Republican Council 10 authorize a further
temporary loan of $4,000, which sum ex-
ceeds the city's right TO borrow $50. 90.
| Remember, my fellOw-citizens that this
statement OF the condition Of the city OF
| indianapolis is based upon what this adj
ministration has told the people in its re-