The Birmingham age-herald., 1911-06-15
Letters to the Editor
Need for Bond Issue

issue proposed by the commissioners are giving expression to the reasons which they claim inspires their objections. If they are sincere, and unbiased by real or fancied grievances assuming them to be voters or taxpayers, then all will con- cede their abstract right to object and to give reasons therefor.
 As I am a voter and taxpayer, vitally concerned in the success or failure of our city government, I consider all objec- tions to the bond issue that on their face appears to be plausible enough to warrant attention and consideration. Personally I know little of the peculiar conditions, past or present, that environ individual objectors; and so I am free to judge how I shall decide the issue for myself with out being hampered by concern or care for the merely personal likes or dislikes of anyone. Neither do personally know much of either of the commissioners. In a professional way I know of Judge Lane and MT. Weatherly, and in a general way I know of MT. Exum. And so I am equally free to consider their reasons for proposing the bond issue.
 Without discussing any one of the reas- ons for, or the objections to the bond issue, it occurs to me that it is reason ably prudent that presume that the rec ord upon which the commissioners stand
 in proposing the bond issue is reasonably well understood by them. It is a record that Is as open to our inspection as citi- zens as 1t is to theirs as commission CTS; and the commissioners In effect, if not expressly, say to us who are voters or taxpayers. Come and read the record for yourselves" And in that way of do- ing things the commissioners give us the highest sort of evidence of their official honesty of purpose. And if we grant of flcial honesty of purpose to the commits sioners we must consider the reasons they give us as showing necessity for the bond issue, as honestly expressed busi- ness convictions; and that being so, the to the bond issue is to impeach the rec ord-and if we can do so we certainly ought to--or to challenge the interpreta- tlon the commissioners have given to it.
 It Is not sufficient to say that the com missioners ask for more money in bonds than needed to properly fund the city government, and put it on safe and sane basis. If the commissioners can ap- proximate the sum needed our voting for the issue as proposed does not imply an authority to issue more of the bonds than the necessities of the situation may warrant The commission can be. or should be- trusted to exercise reasonable business discretion at all times; and if they are not men whom we can trust, the misfortune is great. It Is the right of any voting taxpayer, possibly of any tax payer, to go to the commissioners at any time, either now or after the bonds are voted, and make known to them any fact that would make unnecessary the is- sue of one or more of the bonds. The commission cannot refuse us a hearing. and we have the same right to be heard at any stage of the procedure, even when 1t comes to applying the proceeds of the bonds. No remedy is bereft us unless we are careless or negligent in the ex- ercise of our right to the remedy; and if we are. the city as a whole suffers, but it will scarcely become us to com plain as individuals.
 Neither is it sufficient to object on the score of an excessive interest rate, unless you can point out to the commissioners the name and address of a reliable bank or financial institution willing to take over the city's obligations on a perma- nent business-lilse basis. and for a lower rate of interest than per cent.
 Banks will not agree to bind themselves to renew a loan limited only by the legal maximum of per cent, the rate of inter- est of a bank is uncertain; so that the city has no assurance, and can get none, that upon the maturity of temporary loan the bank making 1t will renew, or If it does renew,s that it will do so at reasonable rate. The only good business way to dispose of a situation like that involving the city is by an issue of long terest rate. Otherwise we put the city at the mercy of bank or financial in stitution; and in periods of stress, or in crisis, the bank dictates in large sense if not absolutely, the terms upon which
 it will grant it's favors or continue them. Surely no citizen will sanction that con diton. And yet that is what the tenn porary loan expedient may bring us to.
 The commissioners are no more to blame for the conditions that make a bond issue necessary than are any other private cit izens. They did not create the conditions; they found them, and their duty is to deal With them, and to make the best of bad situation. All of us are probably charge able with a large degree of negligence in sitting quietly by while the conditions grew to such huge proportions; but is this the time to indulge in abuse or re- | crinination? Oughtn't we to lay that aside for time, and all of us join hands | in the movement to restore the city to a condition that will satisfy us as citizens. and that justly merits the respect and confidence of those on the outside whom
 we hope will become citizens when we get through cleaning up? Respectfully,
 WILLIAM w. SANDERS