The herald-advance. (Milbank, S.D.) 1890-1922, 1903-02-20
City Finances

Last week S Review contained
an article intended to cast an
lmputation of poor tinancierine
on the part of the city admins
tration. TO any one who has
given the least attention to city
affairs the article would need nc
reply, but for the benefit of those
who have not closely followed
the work of the city government
for the past few years it may be
well to call attention to some
facts. 1t is not often that an at
tempt is made to call a city gov
ernment to account for too
economical administration of
public affairs, but this seems to
be what the Review is attempt
ing in this case, and the editor
wants to know why there is
IS, 900 lying in the city treasury.
The fact as shown by the city
treasurer's books is that there
is ia the sinking fund just ST.
O21. 80. But this amount was
not collected as a sinking fund,
no sinking fund having been
levied, but was saved from the
general fund by judicious man
agement and curtailing of ex-
penses during the past few
years. During the administra-
ton of the present city govern
ment some IS, 15Oin bonds (given
for railroad water works) have
been paid, and no floating debts
have been permitted to accumu-
late. This debt-paying has been
accomplished not by increasing
taxation, but while reducing it,
the levy having been reduced
from 1S mills to IA mills. An
examination of the tax rolls will
show that the taxes for city ex-
penses for the year 1902 were
nearly one-third less than they
were in 1897 on the same prop
erty. For instance the city
tax on one lot and building on
Main street was $9.77 in 1897,
and $500 in 1902; on another
$12.O9 in 1867 and SS.47 in 1902;
on another 1897 in the former
year and s.. so in the latter year.
and about the same average
reduction is shown by the books
on all the proper ty in the city
where improvements had not
been made These figures can
be verified by an examination of
the books in the county auditors
office. During this time large
amount of work has been done
on the streets and in building
and putting in cement
walks, purchase and laying
out of park, etc. An effort has
been made to apply the 50, 900
now IN the treasury to the pur-
chase of outstanding bonds of
city, but the holders refused to
sell even on the payment of a
years interest. These are not
due until 1919, but they become
optional next year, or at least
$4,000 of the $4,000 do, when
payment may be made upon
them to this amount, aud with
what will be secured from the
1902 tax it is probable that $1O,-
900 of these bonds can be taken
up and interest stopped.
This SPLENDID financial con-
dition of the city has not been
brought about by accident or by |
chance, but by careful manage
ment of the public funds on all |
lines and at all times. The city
has been paying off the load of !
debt that has hung a dead |
weight upon it for years, and |
will soon be in position to sue
cessfully inaugurate any neces-
sary improvements or enter
prise that the growth or develop
ment of the city may demand.
Surely the fact that the city has
been able to accumulate 1000 |
during the year is much more to
be commended than if it had
fallen behind in it's payments
that amount.