The Montgomery advertiser., 1901-08-08

oh ItiS USDt on these DullulnSS are worth absolutely nothing to her, and she is unable to pay the interest on the debt. Now this petition was sub mitted to the Committee on Taxation, and they made an additional report to the first report made by them in which they advised that Sheffield and Tuscumbia be exempt from the provis- ion of this Section $, allowing them as requested b ythe city to create as much indebtedness as 1t can, the tax rate being the only limit placed upon that city. Now if this provision is made to apply to the cities of Tuscum- bia and Sheffield, our hands are abso- lutely tied. We cannot do anything at all. but to sit there and rot. That is the result of it. If a provision of this kind, gentlemen. had been in the law before the cities had created this in- debtedness then. perhaps, it would be a wise thing. but with that indebted ness and unable to pay the interest on it. and unable to take a step fur ther, you tie the hands of those two towns absolutely. They will not be able to do anything foH themselves, or for their creditors. Gentlemen. you have frequently seen men who were very much in debt. and by incurring an additional indebtedness they were able to accumulate something and pay the entire debt. That is the only sal vation in the world for these two places. that is that they be turned loose and be permitted to manage their own affairs as best they can. They are already strangulated, al ready have a debt twice the limit you propose to put upon them. and 1t is absolutely impossible for them to pay It. and if you tie their hands, so they
 v1 ytpt advantage is it to them, and what ad- vantage is 1t to their creditors. Their creditors may say Why. we will hold your bonds. and force you to pay" But. gentlemen. I do not believe this Convention proposes to make collec- ton agency of itself. There was no limitation upon the power of these towns to create a debt when this debt was created. The creditors knew at the time the debt was created that there was a limitation upon the power of taxation. and 1t can hurt no one. No other city Is hurt by their being excluded from the provisions of this section, and I do not believe this Con- vention under the circumstances will attempt to hold us down by the pro- visions of those two sections.
 Mir. weakley-As I started out to say, think there should be some llm- itation imposed upon the debt creating power of all municipalities. l do not see why any town in the State should be exempted. This Convention has seen fit to put a limitation upon the power of municipalities having a pop ulation of less than 5000. on per cent of the assessed valuation of all the property with the privilege of increas- ing that to per cent for the construc- ton of electric lights. waterworks and sewers, All cities above 5000 popula- tion and certain other named cltles were allowed the privilege or creating a debt to the extent of ' per cent or it's assessed valuation. together with the additional debt for the purpose or constructing sewers. and water "orks and some other utilities. l tnlnk that the cities of Tuscumbia ana SneHielo come under either one of these two I,roita tions. de not think we should adopt three different methods or oeai- inc with the cities of the State upon this question of debt If the town mas gone too far to be embraced Tn the first limit. which I understand to pe the case. then let it come Tn ae othel towns of the State which have been named 9adsden, Woodlawn, Ensley and others. and insert the names or these two cities in this second class or cities, That is the only suggestloH have to make. AL.
 MT. Dent-I would like to ask tne Chairman of the Committee. to call ms attention to what seems lo hAe '"
 an inconsistency.
 understand you have w1thdra"n oec- 't,on Section g says, "No city, town or village whose indebtedness exceeos tbe limitation herein imposed
 MT. Weakley-I have an amendment tn offer when the pending amenomeht ls disposed of which will meet the views. A.. say MT. President that 10 most ntion .ii. bers of the Convention th1s section may be of little interest, but to the cities of Sheffield and Tuscumbia, IL Is of supreme importance. This belns true. I cannot see what objection the members of this Convention would have to the adoption of that amend ment. All that we ask IS to be allowed to work out our own salVatlcn with fear and trembling. A man in that condition, involved and indebted as we are, must necessarily have some dim culty in contracting further indebted ness, and yet We ought to be allowed an opportunity Most of the members of this Convention know that Sheffield Is what is known as boom town. These towns do not operate like other towns They contract an indebtedness, A large indebtedness, with the hope and expectation tfat their population will increase; that their wealth will in crease, and that they will be enabled to pay the indebtedness at maturity. In this way the bonded indebtedness of Sheffield was contracted during the boom days. Both of these towns, Tus- cumbia and Sheffield. have acts which have been passed authorizing the founding of their indebtedness at lower rate of interest. There are cer- tain improvements they must make, certain debts they must contract, nec- essary for municipal life. Now, under this provision here of Section 9. as l take 1t, the cities of Tuscumbia and Sheffield will be unable to contract single dollar of indebtedness until their indebtedness shall be reduced within the limitation provided p this section. When will that be? Sheffield has already an indebtedness of Is per cent of the assessed valuation of it's property TusCumbia probably has an indebtedness of 10 per cent of the as- sessed valuation of it's property. and it Is a matter of impossibility at the pres ,ent time, unless those towns grow, it is a matter of impcssibility for them to reduce their indebtedness within the limitations which these gentlemen pro pose to put upon them. Now, believe this section ought not to be in here at all.
 Mir. Sanford (Montgomery)-May I