Norwich bulletin., 1909-02-08
NEW LqNpoN WARNED
TO PROFIT FROM NORWICH.
Ex-Governor Waller Bought Slater
Place for S17,5oo-Two Thousand
People Leave New London.


People Leave New London.
Regarding the public building situa-
ton in New London taxpayer writes
the New London Day as follows:
Now divest the public building con-
troversy Of all issues but the one per-
tinent question of how it is going to
affect the taxpayers of the city and
consider whether there is either need
or Justification Of adding a burden Of
admittedly $4,000, and undoubtedly
before the end is attained Of double
that amount to the already heavy tax
rate of this city. The question lies in
the hands Of the people of New London
themselves to answer. They can bur-
den themselves with load Of obliga-
ton that viii entail heavy penalties
on not alone them who pay today but
on the wives and orphans Of men who
struggle to get a little home for their
families 1t is a debt not alone Of to-
day but Of tomorrow. 1t not only af-
fects the individual taxpayers whether
he pays SIS or $500, but it also affects
the value Of his property as revenue
bearing and money returning II put in
the market and the credit Of his city
in the market Of other cities.
Every dollar OK Indebtedness added
to the Indebtedness of New London Is
50 taken away from its fRancial
credit.
II is a pitiful satisfaction that city
can find ready sales for bonds to In
crease its expenditures. Any man win
give you a mortgage until he finds
that he has got a good hold on the
values. Few outside of Brewster's
Neck will chase after the second
mortgage. New London seems to be
intoxicated by the ease with which 1t
can raise money.
Work has become scarce. Men who
never mortgaged their houses have
had to do so this year. The tax COL
lector's books will show many unpaid
liens; tenements are numerous and
rents lowered; over $50 houses are va
cant; bills are accommodating; families
are moving out Of town. over 1000
people, of whom at least 500 were
wage producers. have left for other
places; property values have sunk and
will take long time to recover. They
only thing that is growing is the citys
expenses.
In the face of all this, decreased
population. decreased income, de-
creased property values, decreased
business, the proposition to increase
the heavy burden OF New London's
liabilities Is nothing more nor less
than a criminal disregard Of the pro-
lection the city Is vowed to give to the
taxpayers. It is nothing more nor less
than deliberate disregard Of their in
terests and infection on them Of a
heavy load Of debt.
It is only a small proportion Of the
taxpaying population Of the city that
has been in favor OF an immediate
building of the city and county court
house and it is to be questioned wheth-
er that proportion has considered the
reasons why 1t would not re only wis
dom but absolute justice to the other
taxpayers to defer It's erection.
Now look at this question from the
standpoint from which It should be
viewed, its bearing on the city and the
individual good.
Take example from Norwich. Reck-
less dispensers Of her city's money
made Norwich SO years ago erect
public building at an estimated cost
of $4,000. When finished It cost
S950,o00. To pay, the city issued
1920, 900 bonds at 7 per cent. During
that time It has paid out over $780,
600 interest on the bonds, and the
bonds are still due with the exception
Of $4,000 paid.
The erection OF the building was to
increase Norwich's consequence. Did
It? Same story here Same sequel It
lowered credit and imposed a terrible
burden. Norwich today Is paying %
mills on the dollar on basis Of IS per
cent. valuation. Similar course here
would make New London pay about 80
mills.
Now as to the argument that II
advances property value to run into
debt. Norwich had the Slater prop
ertv That was conserva lively val
Ued Is years ago at $3.50 600 Former
Governor Waller bought il ali for SIT.
500 and the value Of the carving and
wood in the mansion will paw him for
the purchase. There Is no value on the
land.
The Blackstone property. the Wells,
half a dozen others in Norwich show
the result Of this peculiar idea OF real
estate flnanciering. The Blackstone
property, clearly worth 100000. could
not find buvers-sold at $4,000. The
Mason property the same Result Of
the tactics which are being forced on
New London.
Two years ago New London raid out
$4,000 a year interest on Its bonds.
where now it is paying s5O,O0o-anv
increased benefit? No.
The people forget that the cost of
erecting the public building Is not the
entire item. 1t will have to be main
tanned That falls on New London.
Heating, lighting. care, that with other
expenditures will amount to $4,000 or
$4,000 a year. From the taxpayers.
Not from the pockets Of the advo-
Gates
Three level-headed men constitute
the county commissioners. They are
ex-parte viewers Of the question and
consequently their dispassionate re-
gard has highest value. Not one of
these men but will tell you, brother
taxpayers, that it is suicidal and I'M
warrantable to erect a new building
with ffe popSnot1aot 90