Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1912-04-12
Indebtedness Running Riot.

Indebtedness Running hlet.
1t had been our intention OF a.
rccting special note to the re
port of a committee at Seattle, pub
lished several weeks ago IN TIN
paper, entitled Indebtedness Run
ming Riot. " in which it was show
that the Indebtedness OF many OF on
counties was increasing in an as
,orishingly rapid and alarming rate
and that the many millions in TIT
aggregate are now charged up tina
afford no distant hope of liquidation
A favorite way Of wiping out war
rant Indebtedness has been by fund
inc the same at a lower rate and put
ting off the pay day virtually com
pounding the interest and making II
pavable with the principle. The
holders of those bonds are quite will
ing to wait the convenience OF the
payee long as the security is good.
This makes a new issue OF war
rants possible and ostensibly places
the community's credit on cash
paying basis, and no account is
taken of the fact that it is becoming
inextricably settled in the mire'
and the several public service sys-
TENS is each adding its share to the
same result. The county. the mu'
nicipality, the schools. the courts.
aside from estimates and speclhc
levies, each based upon items OF IN
debtedness in excess of the estimat-
ed appropriation, and these sums all
20 upon an annual deficit, which is
quite as much of debt, for future
provision. as if made by an excessive
tax levy. Suppose provision is made
for an expenditure costing a certain
estimate; then suppose items are
crowded in which cover twice that
amount. Is it any less a debt, when
it becomes so large, it has to be paid
by q bond issue, and the process
ultimately opens the opportunity for
a new start. 1t is probably by
this deceptive method that many OF
the counties have got into deep
water, and are now only struggling
about hoping for some unexpected
way of touching bottom or grasping
a plank. The committees report
fails to give any possible hope of re-
lief, leaving only the threadbare al
tentative of economy, which even
now has about reached the straining
point.
Our town affords q notable ex-
ample of this incessant appropria-
ton of the peoples credit for fancied
requirements. Grading and paving
streets, building town halls, appoint
ing new officers, raising salaries and
in hundreds of big and little schemes
for rewarding party fayorites or for
the glory they can see, in welding a
little brief authority" has brought
many of our people to the verge Of
bankruptcy if they indeed attempt
to liquidate the indebtedness.
A late transaction exhibits their
"ox-driving' methods going in
debt many thousands for q town
hall, has necessitated, in their eyes
the paving Of Third street, at an
other expense OF nearly $24, 600. al
though there is no more necessity
for it than to fresco Mount Rainier.
It was done at their own volition,
without public notice, except it
might be line or two in . news
paper graveyard. and their action
elected aprotest from three-fOurths
of the property owners, when they
were informed that the time to pro-
test had passed, which had been utter
~ without their knowledge. And when
q rehearing was asked. it was indig-
nantly denied, and finally hearing
vas accorded to decide only upon the
nature of the material to be used,
but no change was made. as it was
said there would not be. The prin-
ciple hitherto held, that the people
are the masters in public affairs, has
been reversed and majority of OBJ
durate Councilmen have set them
selves up as masters instead Of being
the means of making effective the
popular will.
Adjudication OF FOOD.-An in