Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-11-25

ono doubt a committee such as you
Intelligent mind Of the city study and
understand the various routes and the
whole subway question.
Some are talking of an expenditure
of 10000, COO or 5000. 100000 by the city
in the building of subways Immediate
". or within five years, as glibly and
nimhly as though the city actually bad
that much credit available. But the
nard fact is that the city has now an
available credit of only S57000,0C0 1t is
or!r by special effort in the equal
ling of land values throughout the
city by the tax commissioners this
year. thereby raising some assessed
values that were relatively too low.
that we shall have in the coming year
the extraordinary increase in assessed
valuation of probably from $5o0.O00 00G
to $500, 900, 900, and thus an additional
borrowing capacity or credit of from
$50 900. 600 to $50, 100000 but all of that.
if not more, will be needed for ordinary
purposes other than subways and for
public buildings and improvements
which may not be postponed any long
er.
".All of the city's credit cannot be
devoted to subways. In the years fol-
lowing We shall not have the extra
ordinary increase in assessed values
of this year, but only the ordinary in
crease, affording an additional yearly
borrowing capacity. which, after be-
ing diminished by the ordinary or reg
uar needs of government. will leave
only q comparatively small sum for
subway construction.
1T was with this in mind that |
ventured to express hope in January
last that some company would come
forward to build the subWays which
are Immediately necessary with its
own capital, or at least offering to
put IN Dnc-half or substantial part
of the necessary capital if the city
would furnish the balance. If some
company would put in all the capital
needed over and above the So 900 COG
which the city has available the sub
way difficulty would be solved and the
work of construction could go on in all
II the horCughs Simultaneously. in
stead of pipce-meal Some people cry
out almost in tones of anger at this.
that the subwayS must be built with
the city's money exclusively: but only
because they have the false notion in
their heads that if a subway be built
by private capital it must be owned
by the builder and not by the city,
and they are justly opposed to such
private ownership.
They do not know that under the
provisions of the law applicable To
the case the subway would belong to
the city from the start. whether built
by city money or private money. on
the limited franchise term which the
city gives. Some, again, are so preju-
diced against the present Subway Co.
IN account of the crowded condition
of their cars that they scorn any prop
osition of that com pany for the build
ing of additional subways to relieve
the congestion. This sounds odd, but
it is woefully true.
THE committee YOU propose can da
sood work in dissipating all of thesa
errors and prejudices and stop all
pickering. To get opposing sides to
listen to reason and agree the first
things always is to allay all bitterness,
which is very often the hardest job OF
all.
"P s. | add that no member of the
Board of Estimate is pledged to any
route. Notwithstanding statements to
the contrary. but all are open to full
consideration of this great matter"
CONTINUED on Page Twelve)