Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-09-02
Municipal Finance

u lCHMONDS new City Council. which
l y went into Office yesterday, will have to
consider difficult and complicated questions
of municipal finance. Demands on the city
treasury for public improvements grow in
number and magnitude every day Hardly
a section Of the recently annexed territory
but fosters and presses ambitious scheme
Tor highway, or a viaduct or a playground.
or paved streets, and within the old limits
are plenty of needs no less real and urgent
Richmond must soon have a more gem
erouS water supply and larger facilities for
purifcation. In the downtown section bigger
mains are urged by the Fire Board. every
year with increasing emphasis Sewers. gas
lights and water must be supplied to parts
of the annex. Much paving must be done
unless Richmond is 10 lag behind other pro-
gressivc municipalities.
The treasury shows deficit. somewhat
indefinite in amount, but reaching certainly
TO several hundred thousand dollars On
this amount the city must pay interest
either to the banks, so long the indebted
ness is floating. to the bondholdcrs when
the accumulated deficit is absorbed in some
new issue. Merchants assert with justice,
that they are ovcrtaXcd, and the recent de-
ciston OF Judge Richardson has placed in
jeopardy considerable portion of the citys
income. New sources of revenue under the
segregation tax laws. difficult to find
or course, we can always have another
bond issue, but the per capita debt already
is largc-among tho largest in the country
and the burden Of interest and redemption
charges is heavy The bonded debt can
scarcely be increased without either additions
10 the property tax rate or reduction rela-
lively in appropriations 10 the several de-
partments of government. Besides the
! people are beginning to understand that to
! issue thrty-fouryear bonds for improve
ments that vanish in half or a third OF that
&c fr11,. toll,
it comes into this doubtful heritage unques-
| tionably will resent
There is but one way In which Richmond
ma! be placed in a position to finance it's
! public improvements sanely and economical
/ ly. That is through the repeal of the exist
| ing constitutional prohibition of the assess-
ment OF private property for such improve
ments. Virginia is the one State in the
| United States in which cities are so handi-
| capped. In every other State municipalities
| may assess the benefits springing from i'm
| provements against the property whose value
these benefits have enhanced. In every other
State cities may charge a portion Of the cost
| of paving street To abuttinC property
| owners.
Tho method is sane and fair to all con-
cerned. Once in operation here. il would
! stop log-roling for particular projects be-
cause no project would be popular unless it
were really needed and unless those prin-
cipally concerned were willing to bear some
OF the expense.
The new City Council, if it is ambitious
TO deserve well of its constituents will in
augurate Statewide movement for the
repeal of the obnoxious inhibition The
Mayor and the Administrative Board should
lend their help. We believe every business
organization in Richmond would give APP
prevail and active co-operation It is an on
portunity for the Council to render a con-
strnttive service Of the first consequence