The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-05-03
BONDS TO PLUG A LEAK.

Mayor Bransford has presented for
consideration a statement of the city's
financial condition. a statement formu-
lated by the $4,000 expert auditors,
and, like all their statements on this
subject, obscure to the point of bewii-
derment. The mayor stands acquitted
of any intention TO mislead or conceal
facts; no one who knows him doubts
his honesty or frankness. But it is the
mayors misfortune that he is COM
PEELED TO rely for his information upon
men who seem to be bent on befud-
ding the public and mystifying every
body Whether they are unable to
make a clear presentation, whether
they are acting under instructions, or
whether they want to show their ex-
pert knowledge the result is always
the same: They use figures to con-
ceal truth.
Take, for instance, this paragraph
from the statement, which seems to
be the nub of the question as to ex-
perts see it:
ITO get a better idea of the eity's
current requirements, the revenue
funds, excluding the waterworks fund,
should be considered on current rev
enue and expense basis. That is, the
relation of current requirements to
current revenues available should be
approximately ascertained. For the
purpose of making such calculation the
amounts shown in the committees re-
port as available balances of cash and
uncollected 1907 taxes and water rates,
s970. 122. 4S, should be eliminated. This
latter item. as previously stated, is
about Offset by last years debts"
If language means anything, this
paragraph states that last years debts
carried over into this years business
amounted to approximately 100000;
and this is the first intimation of what
amednt was carried over TO be paid
This year.
Correlating the figures and the ex-
planatory foot note, 1t is evident the
city administration means to- apply
close to 5000, GEO OF the $780, 600 bond is
sue for the purpose of wiping out def
cts due 10 last years operations, and
that only 100000 Of the sum is needed
or meant to apply TO this years sewer
and water improvements. That is to
saw. the administration, instead of
using its current revenue from taxes
and othel sources to meet its obliga-
tons, finds itself in a hole where a
bond issue is needed to conceal its ex-
travagance and mismanagement- There
is no suggestion of economy in depart
mental expenses. no apparent thought
of curtailing salaries or reducing the
number of employees anywhere. On the
contrary, every council meeting sees
new employees provided for in a time
when every business house IN the city
is reducing the number of employees
and cutting salaries down to a mini
mum.
Returning to the statement fur
nished by the expert accountants:
they 90 not present any figures show
ing the citys real financial condition;
there is no statement Of cash on hand
and warrants outstanding, nor of I'M
paid bills for which warrants have not
vet been issued. The estimate of rev
enue for the year eliminates" s27e0e
of available balances of cash and un-
collected 1907 taxes and water rates"
While they were eliminating" to
show the necessity for a big bond is
sue. they might as well have included
any other item of revenue. The uncol-
lected 1907 taxes are a small item +:
the water revenue is a tremendous fac
tor in the city's income, while the
available cash balances are joke.
The trouble with all of the figures fur
nished in support of the bond issue is
that they eliminate" about every fact
student of the problem ought to
know.
The talk about Improvements is all
right: every citizen of Salt Lake with
few exceptions, is anxious to see the
city improved, ancf none opJects 10 Ine
legitimate expenditure OF available
funds for needed sewer and water i'm
movements. But the people of Salt
Lake were assured in last falls cam
paign that the city's finances were in
better condition than they ever had
been. whereas the figures show that
the 81 .OOe, 600 bond fund was exhausted,
the tax money, raised by maximum