The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-07-26
The E1AlS.
A BUSINESS QUESTION.

Consideration or the BOND question
which is TO be voted for on next We'd
nesday seems to have degenerated into
n campaign OF elimination and recrim-
ination, with little regard for the real
city's finances.
Opponents OF the bond issue say the
city is bankrupt. but that 1t will close
the year with surplus even If the
bonds are defeated. They insist that
the $4,000 will not be applied TO pay
ment for public improvements. though
they declare. also. that the money can
not be used for any other purpose. They
charge that the city auditor and the
chairman of the council finance COM
mittee have shown a worse condition of
city finances than actually exists. and
in the same breath accuse the admin
istration OF having plunged the city
into hopeless debt.
Obviously all OF these assertions can
not be true; and just as obviously the
facts are matters of record, ascertain
able by any man OF intelligence. Ii is
known that the city now has an over
draft of about 100000. and that the
public improvements contemplated by
the bond issue cannot be paid for out
of this years revenues. II is known
that about s15O.OOO of public work either
completed or under contract will have
TO be paid for either out of a bond issue
or by an increase in this years tax rate.
II is known. further. that the construc-
ton of the City creek viaduct. the lay
Ing of larger water mains in the Fourth
work outlined in the call for bonds will
have to be abandoned altogether If the
bonds are defeated.
Plainly, therefore. the issue is a sim
pie one If the bonds are beaten the
tax levy will have to De made very high
program abandoned. If the bonds are
authorized. this work can be completed
without an excessive tax levy.
So much for the business questions
involved. Politically. the newspaper
friends and foes of the bonds seem tC
think they can make party capital by
abuse of those who differ with them a:
20 the merits OF the bond question. L
is not true, as they would have theil
readers believe, that the advocates o
the bonds are ali graf::S-s corrunt= hen
on despoiling the city. Nor is II at al
true that all the opponents of bonds ar
..mossbacks." obstructionists and lack
ting In public spirit
Some Of the patriots" who yell loud
est for the bonds have shown by thei
works that they could not be truste,
with a basket of groceries TO be deliv
cred TO a neighbor: but the most effec
tive supporters OF the bond Issue AR
citizens of property, heavy taxpayer
whose interests give their opinion grea
weight On the other hand. some of tn
property. progressive enough. but con
servative in their views of the burden
the city should assume,
There Is no occasion to charge un
worthy motives on either side. TIL
real question is whether Salt Lake ca
ment, plunge Its finances into chao,
establish an enormously high tax rat
and announce to outside investors tina
the rapid growth OF the city is to b
checked until the present improvement
are paid for out OF current revenues
Shall the city issue bonds and complet
it's work. or shall 1t make a confscator
tax levy and stop its Improvements
That is the sole question for the vote
on Wednesday.