The labor world. [volume] (Duluth, Minn.) 1896-current, 1902-03-15
FINANCE,

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FINANCE.
1t is not necessary for me to do more
than call to your attention the necessity
for some changes which will prevent
the reduction of the permanent i'm
pr0vement revolving fund
Before an improvement of any kind.
Tor which an assessment Is to be made.
ana board OF public works are at some
ETC.: and during its. progress there is
addltional expense for inspection. etc:
This is calculated at ten per cent. Of
the cost. actually from about six per
sessment is made the amount Of the
contract' is set down, let us say. for
example, 800; then ten per cent. is
added. and the cost is said to be $110.
made. $11. wholly cancelling the $40
for expense, and drawing 81 from the
permanent Improvement revolving
fund fms The result is that every time
revolving fund is turned back to it.
there is loss Of 81, or one per cent,
so that it is easily seen that it will
not be long before another issue Of
UP. our working capital. AS it will re-
quire an amendment to the charter to
authorize this, the result will be evil
dent
Better amend the charter so that it
will provide that if the original amount
of the contract, divided into assess
ments on the property liable for it. is
paid within a certain time. the city
vertising. ETC., IF you believe that is
fair proposition). but that after the
expiration Of that time ten per cent.
In, this way we will preserve the
FIND lnfQff and pivQ nt
to the, citizens assessed. to pay up
promptly.
The second question under this head
is that OF the Of Gertqin lots
son of back assessments due.
The amount involved is about $780,
600. and these lots, if sold. would be
live property, and subject to taxation.
Sinking Fund.
1t will be noticed that for the next
four years the amount. Of bonds. COM
ing due is very small. The sinking
fund will, therefore, increase and need
careful investment. SO that it may be
PUBLIC WORKS.
The last twelve months have wit
messed a greatly increased activity in
public works, After over thirteen
pavement on a portion of Superior
street has been replaced by vitrified
bricks.
to next improve the avenues leading
to them.
The tar macadam pavement suggest
ed by the city engineer seems to offer
problem. and we can utilize our own
raw material to great extent.
About Is miles Of sidewalks have been
built, at a cost of over $4,000. but the
found. AS it is now cement sidewalks
are more serviceable when the snow
is left on them.
Almost three, miles, Of sewers have
! under contemplation for the future.
The building Of sewers should be en-
couraged by every proper MEANS. they
IN and ach
ing the cost of municipal government
to the taxpayer.
Streets and Cutters.
In my opinion the most serious prob
lem before you today is the renovation
| the city. especially the avenues. They
have arrived at stage when 1t is not
economy to allow them to get any more
| out of repair
Conference Committee.
The conference committee continues
to exercise a wise supervision over
| the financial affairs Of the several
| departments, and the fact that the sew
eral departments have lived within
their income while 6l1o Yrin nj n 11v
to the desire of the heads Of the. de-
partments to make good showing. it
| cannot be denied that the monthly
scrutiny Of their transactions by the