The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1904-08-26
The Bond IssAs
r. d. Welborne Gives Reasons for
Opposing the Proposition.

EDITOR ExPREss;-
am moi in favor Of the proposed
bond issue, for many reasons, the
following being a few of them:
First ] shall vote against the
bonds for the reason that the pro
posed issue would be illegal, there
being no law in force in the Indian
Territory authorizing the issuance
Of bonds for the purpose Of paying
outstanding warrants. We cannot
issue refunding bonds, and ! be-
lieve the entire effort to issue these
bonds an unnecessary expense TO
the city, as feel sure no bidders
will be found for the bonds after an
investigation is made by the at
torneys for those who would bid OH
the bonds. If any one will show me
amy law authorizing tie issuance of
these bonds, or single decision
that holds the bonds would be valid
/ will agree to waive all other OBJ
iecGons and vote for the bonds.
Second I believe that if the
bonds could Be sold, that then, our
public schools would bcthe sufferer.
Every dollar Of tax levied for the
next twenty years to pay interest
Oh the bonds and create a sinking
fund, would necessarily cripple our
school fund to that amount. be-
lieve good schools and long terms
would be worth more TO Chickasha
than any other enterprise we could
secure.
Third Ii our city prospers,
believe the present debt can be paid
of ia FIVE or six years time, aud
thereby save paying twenty-five
thousand dollars interest on the
bonds. If the bonds should be sold,
we all know they can not be paid
off until The end Of twenty years,
and II SIC do not prosper, the issu-
ancc Of more bouds would be a ter
rible burden Oh the lax payer for
the uext twenty years.
Fourth. The city council, with
out amy authority Of law, as | be-
liesc. have sci aside the occupation
tax aud iuss 10 pay the salaries Of
our officers, although the officers
were elected al time when all Off
GERS received warrants for their sal
aries. Now If it is legal to divert
this money from The general fund,
then ii the couucil would use il to
pay other expenses OF the city, in-
stead OF salaries. we would belable
TO pay expenses other than salaries
III cash, and no more two for one
script would have to be ISSUED, as
there seems 10 bc plenty Of men
willing 10 hold office and take war
rants al par for their services, 9th
wise SO many would not have want
cd tbs Offices at last general elcc-
tion when the officers were being
paid in warrants al face value.
Fifth. We an know that it is
unlawful TO issue Understanding
warrants, and \ firmly believe that
il the city would abide BY the law
and mol pay interest on her scrept
that The script would sell for as
much as il does bearing six per
cent. interest, as most Of it is
brought mp any way, for the pur-
pose OF paying on taxes TO the gen
efal fund.
Sixth. II does seem 70 the writ
cr that for a city The size Of Chick
asha. our bonded debt is already all
thatwe should make il. live do
not use caution along this line the
day may come when it is too late,
that the burden Of taxation will be
so heavy that our people will fully
realize the great mistake Of loading
themselves down with bonded in
debtedness.
Il. d. WELBoRNE.