The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-07-17
ADAMS PROPOSES
new BOND SCHEME
Offers Plan for Permanent Street
Improvement Without
Hurting City's Credit.
WILL TAKE PLACE OF RIDER
Wants Council to Set Aside
100000 a Year as
Separate Fund.

Plans for comprehensive improve
iiieht OF the city streets by the sale OF
bonds. without at the same time en-
danger ng the city's credit or making
jackpot fund for distribution in q
general ward scramble, are proposed
by Alderman William H. Adams, chair
man of the Committee on Streets, and
former member of the Finance Com
mlttee, in lieu of the million dollar
rioer proposed by Alderman Gunst. Mr..
ADAMS proposes that the general I'M
proVement bond issue recommended by
the Finance Committee be adopted.
providing as 1t docs sl.4oo,ooo in 4
per cent. bonds to run thirty-four
years, fer new schools new bridge.
gas, water and sewers for South Rich
mond. purchase of the Ford block. and
other improvements already author
lied. and which only remain to be
financed
Work From Year to Yenr.
Mr.. Adams said that he agreed with
the position of the Finance Committee
that street Improvement bonds should
not be issued for thirty four years. as
many of the improvements will wear
out In less time and have TO be re-
placed. Also. ne thought the sale of a
large issue at this time unnecessary,
as with other work in hand and the
complicated method of ttling grad
Ing damages, the work would neces-
sarily proceed slowly. He suggests an
issue of twentyyear bonds; that an
Issue of Sl,000,0o0 be authorized, not
more han 100000 to be sold in any
one year, making available for per-
manent street work over and above
annual appropriations 100000 a year
for the next five years, allowing the
Street Committee to go ahead with
comprehensive plans and to place the
work under contract from time to
time
Record - Muddicd.
Several members of the Board OF Al
dermen agree with the position taken
by Chairman Pollard. Of the Finance
Committee. that regardless OF the
question OF issuing street bonds. It
would be unwise for the Board to at
tempt tomorrow night to reconsider
its former action and again insist on
a conference between the two branches.
The record has already been so COM
plicated that the validity OF the bonds
themselves might he questioned. and
1t has been held best in order to save
litigation. to take up the new ordi-
nance introduced at the last meeting
allow 1t to pass In due form without
amendment and with a clear record.
so that no questions NAV Else when
the city offers the bonds for sale.
Then Mr.. Adams will offer as sep
arate proposition his plan for street
Improvement bonds OF a different
character. and. he says, he has as
surances that under the conditions he
proposes, and with proper limita tons.
the plan will he favorably received
both in the Finance Committee and
the City Council
Should Stnnd ON Its Own Bottom.
Certainly, he says, the Council has
no idea of putting on the city debt OF
a million dollars without consulting
the Finance Committee. as proposed
by Mr.. Gunst and since the bond issue
for the annexed territory. made a..
1907. Is not vet fully expended. he
holds that If the full issue were sold
at once not only ould the market for
city bonds be depressed, but the Street
so large a sum, while with assurances
period of years. the work could he
carefully planned and go forward
without interruption and without dis
senslon.
AS for the Gunst plan OF adding the
street bonds as a rider to the pending
bond issue several Councilman have
stated that II the street bond ord!-
nance is not strong enough to stand
on it's own feet il ought to fail. but
II should nor be used TO defeat or
delay important work for which the
city is already obligated