Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1908-03-12

the bonding measure unctiously add
to their expense figures the sinking
fund necessary to repay the loan.
The figures submitted by City Audi
tor Young and published in the Trib-
une in the first instance related sole
ly to the maintenance question on
both sides of the issue. No one sup
poses for an instant that we are 60
ing to get city hall for nothing
Of course it has to be paid for the
same as any other thing built with
borrowed money. But the principal
is the same as in the case of the
poor man who never in the world
could get enough money at one time |
to build him a home, but succeeds
in getting someone else to build 1T |
for him, and, instead of paying out |
rent at dead loss to himself, he
pays an amount slightly in access of /!
what his rent has been and in the |
course of time has the property paid |
for and something to show
for his money. That is all there is
to this bonding question. I
No borrower ever lived who could
build as cheaply as the man who has
the cash, for the interest must, in
such a case, be added to his other
costs. Many banks in times of stress
rediscount their bills receivable, in
other words, borrow money on their
assets. Do the opponents of this
city hall proposition mean to2sayl
that such bank should cease to
do business because it was out of
cash, or even curtail it's business be-
cause it had to pay the interest and
principal on it's loans? Hardly.
to enable it to proceed? Hardly.
The same gentlemen who pile uptall
the imagined expenses on this city
building could readily point out the
beauties of bonding if they chose to
be frank about it.
Now, as to the matter of mainten-
ance of the proposed building. Other
cities have put as much money into
a city hall and have maintained it
with but one janitor. Has the habit
of looking for snaps for friends be,
come so strong in Bismarck that all |
projects have come to be looked at |
largely in that light by some inter-
ests, as per example the $4,000 paid
by the city for useless inspectors
during the summer the sewers were
laid, and the $4,000 paid for sur
veys (made by an army engineer
years ago for $1,000 for the sewers,
when no one can recall seeing the
engineer in charge or his transit
more than day or two on the lines
of the sewers.
1t is rather humorous to hear
some of the gentlemen and aldermen
advocate direct assessment for a city
hall, especially in the light of the
fight they annually put up before the
board of equalization. The propo-
sition of direct taxation is not FEAST
BILE for the simple reason that while
this or the next council might levy
the tax, the succeeding ones might
refuse to do so and there is no law
to make them do it, either, and who
can imagine some of the aldermen
directly taxing themselves for this
or any other purpose, If theyascan<
help it.; for an alderman who refus-
es to put numbers on his house on
account of the expense is not going
into any rank extravaganza through
his great desire to see the city pro.
gress or develop into the commercial
center some of the foolish tender
feet dream it will.
If the bonding proposition is not
business proposition at this time
let us have the judgment of the peo-
pie at large on that subject, for I.
cannot. for the life Of me, help be-
| lieving the several hundred business
men and taxpayers of the city have
quite as much business accumen and
| possibly as much interest at stake
as the six alderman who turned the
request down without assigning
| reason for 1t other than that they
had the votes. 1t is reported that
one reason not yet generally made
public is that it is hoped in GER
tain quarters to strengthen
tehir position at the coming city
election, and when in control they
will see light, and the bonds will
be submitted, carried, and the ave
| Or six tanitors" and other adjuncts
will follow as matter of course,
even IL several inspectors and things
like that are not provided for drr-
ing the building of the city hall as
in the sewer case. AS Abe Lincoln
said: "You can fool part of the peo-
pie part of the time and all of the
nonn10 ri NJ f3xoa 49,.