Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-10-30
MANY ARE IN ACCORD
New Method of Financing Dis
trict Needs Proposed.
TO RID CITY OF ITS DEBTS
Maj. Judson's Plan Subject of Favor
able Comment.
BUSINESS MEN INTERVIEWED
Consensus Of Views Indicates Time
Ripe for Change to Keep Pace
! With Growth Of City.
TO RID CITY OF ITS DEBTS
BUSINESS MEN INTERVIEWED

A tour OF the banks and business houses
brings to light the fact that very nearly
every one who has the Subject of finance
at his command Is more or less in favor
of the proposed plan to change the meth
Cd of financing the, Districts needs. Not
only that, but in discussing the plan
business men have a word of praise to
say for Maj. Judson for evolving
scheme to prevent increase of the present
debt and to provide for its eventual .ex-
tinguishment without Gripping the COM
munity's ability to meet current needs
and to provide substantially each year
for permanent public improvements
Although the plan is not approved of
absolutely in every single detail by every
business man or banker interviewed, In
the main it will bear the o. X. of the rep
resentative financiers. Scarcely any OBJ
lection is heard to the matter. It has
been suggested that to carry out this
scheme it will be necessary to put the
screws on the holders of property here
in order to boost the taxes to a higher
amount than usual The statement That
the plan proposed would rid the city or
debts for permanent improvements, whlch
statement in the minds OF many seems to
carry with it the understanding that debts
for such purposes are to be deprecated,
Is not favored except with limitations.
More than one man has said that 1t Is
the universal practice OF cities to go into
debt to a certain extent for the perma
nent improvements which, being for the
benefit of posterity, could be paid by pos
terity.
IT is pointed out, however, in this con-
nection that the floating debt of four mill
lions represents eight millions already
spent on such permanent public improve
ments; that Maj. Judson's plan provides
for such handling Of this debt that its
rlnn Coll to- Cote
posterity; and that the principle of sepa-
ration in respect to the handling of per-
manent improvements I'm relation to cur
rent needs to which this city is thorough
ly committed is in effect Endorsed and
carried out in the Judson proposition.
Hopes for Earnest Work.
Brainard H. Warner, when Intercepted
by representative of The Evening Star
on this subject. said: II am highly grati-i
fed that the Commissioners have become
strongly interested in the proposition to
secure an extension of he time of pay
ment of the Indebtedness, Of the District
of Columbia, so as to enable the Commits
sioners ct provide for Improvements OF an
extraordinary character out of current
revenues.
1.-THE District of Columbia continued
Mr.. Warner, lis now developing with ire
mendous strides. Never before have so
many private and public improvements
been under way or in contemplation. and
the construction of new buildings is not
confined to the District of Columbia, either,
but extends out into Maryland and Vir-
ginia ] have recently made several trips
to the more remote suburbs and nave
been astonished at the rapfdity of growth
which marks almost every section WITHIN
a radius Of ten miles of the Capital. All
this progress will furnish. a marvellous
contribution to the merchants and busi-
ness men OF the National Capital.
1.-The growth in the annual income OF
the city must be In the neighborhood OF
half a million dollars per year. If our
Indebtedness Is extended as proposed at
least 81. 100000 per annum can be put into
permanent improvements OF an unusual
character and the health and welfare OF
our people will be promoted.
..The Commissioners will have the very
warm support of a large majority OF our
old citizens and thousands of newcom-
ers from all parts of the Union, who have.
within the past few years, located here
have always believed In the plan pro-
posed by the late Senator Hoar. who was
in favor Of having reasonable tax levied
upon the property Of the District OF Co
lumbia and the additional cost Of such
unusual improvements as are demanded
by the Capital city paid out OF the public
treasury However, this Is separate
question, which will probably not Dc de-
termined for many years. -
Il sincerely trust that the various citi-
zens' associations and our public-spirited
citizens will go to work In earnest on
this project so that 1t may be understood
and fayorably considered by Congress at
the coming session.
Enthusiastic Over Plan.
William D. Hoover. vice president OF
the National Savings and Trust Company,
is enthusiastic over the plan. When asked
for an opinion he said:
II have read the printed statements
concerning the proposed method of financ-
ing the District Of Columbia and I must
say I am highly in favor of 1t. Maj. judi
son has gone to the bottom Of the matter
and has shown that he 10 thoroughly ia
mtliar with conditions. 1t Is so simple a
plan that people are wondering why no
one has thought Of 1t before. and mag
Inc that there are plenty of men kicking
themselves because they did not think
Of 1t first.
Il believe. too. In the main, that the
I..strict revenues will keep on increasing
at or near the present rate. Taking real
estate for example. the increases in
Valuation are marvellous, and without in-
creasing the tax rate the revenue from
this source Is going to be enormous.
have In mind a piece Of property ap-
praised ut $1,000 six years ago. Last