Los Angeles herald., 1906-12-29
THE BONDING PROPOSITION

It seems like a strange coincidence
that Pasade' proposes a county bond
proposition, involving sS,00O,OOO, just at
the time when Los Angeles is preparing
for a bond election to provide the first
installment Of cost for the great aque-
duct. Los Angeles city and county are
distinct en.ies legally and geograph-
ically. but the city Institutes nearly
three-fourths Of the county financially.
A county loan Involves the calling on
the city for a Ike proportion OF the
required funds.
It is a highly commendable project
for which Pasadena proposes to raise
sS,OOO,0O0 by a county loan. 1t is backed
by the Pasadena board of trade, and
that organization. as announced, has
sent to every taxpayer in the city a
letter, with return postal card inclosed,
outlining the project and requesting an
opinion thereon.
AS thus indicated the plan is "for a
system of boulevards connecting a
series of cities and towns In the county,
including Los Angeles, Pasadena, Po-
mona, Venice, Ocean Park. Santa
Monica, Long Beach, South Pasadena,
San Pedro, Hollywood, Alhambra, Re-
dondo, San Gabriel, Norwalk, Rivera,
Whittier, Monrovia, Azusa, Glendora,
Claremont and Lordsburg"
1t is an admirable scheme, directly in
line with the good roads movement
which The Herald has advocated for
years. 1t is "the one thing lacking "
reiterating the oft repeated sentiment
in these columns, to make Los Angeles
and its sister cities and towns ideal in
all respects, especially in attractiveness
to strangers who are familiar with the
fine boulevards and drives in the en-
virons of leading eastern cities.
But, as viewed from the standpoint of
this city, it is not expedient to push the
Pasadena project at this time. Deslr-
able as the scheme unquestionably is
there is no emergent need for consum-
mating it now.
But, on the contrary, there is impera-
tive reason why the proposition should
not be urged at this time. The owens
river aqueduct bonds, of which the first
installment will soon be offered in the
financial market, must take precedence
over everything else of money borrow
ing kind. The city cannot indorse even
broached by Pasadena until the funds
for the great water system are assured.
1t would be injudicious for this city to
make any movement calculated to
strain it's financial credit before the
water project is 'clt of the woods"
Excellent as the city's credit now is in
the eastern financial marts, the projec-
ton of a county loan for a large
amount, at this time, certainly would
initiate against the marketing of water
bonds at the desired low rate of in
terest.
And the reason thus given for de-
ferring the good roads plan is equally
applicable to the suggestion, made by
one of the consulting engineers who
have just apprC led the Owens river
water project, that the city should at
once provide for power development on
the line of the aqueduct. No doubt
Engineer Schuyler is right in this con-
clusion: "In my judgment it would be
a good stroke of business If the city
would arrange it's finances in way to
complete the power development of all
that portion of the possible power
nearest to the city and have it ready
for delivery as soon as the conduit
is completed and the water turned
through it,
But, first and foremost, finance the
main proposition.