Evening star., 1916-01-06

tne sole idea OF establishing facts from
! which just conclusions of entire hon
esty. fair dealing and justice could be
drawn.
OF the two questions submitted to
| your committee it first considered the
| following. viz, what is the proper
proportion of interest on the funded
oebt which shall be borne by said Dis
trict and the United States, respec-
lively. and now submits the following
statement with the reasons upon which
IT'S conclusion Is based.
We find that the interest on the
funded debt should be paid by moneys
from the Treasury of the United States
and so per cent charged to the reve-
nues of the District Of Columbia and
! 80 per cent charged to the amount ap-
propriated for the expenses of the
District of Columbia from the moneys
of the United States.
The Funded Debt.
The funded debt consists entirely
| of 3.65 bonds $50 called because of the
| rate of interest they bear) of the Dis
trict of Columbia at this date to So,
$4,000. and of which $975,408 is paid
| yearly. one-half by the revenues of the
District of Columbia and one-half by
; the moneys of the United States.
The time of payment Of this funded
debt extends to the year 1924, but with
an annual appropriation Of approx
| mately s915,40S, the debt will be fully
and completely paid year or two prior
| to 1924. and when paid, the District of
| Columbia will have no other funded
debt
This funded debt had its origin in the
| very extraordinary expenditures for
city improvements. principally the es-
tabilshing, grading and paving of
! streets and avenues, the construction
! Of sanitary sewers, the planting of
trees and generally, the rebuilding and
J re-equipment of the city of Washing
! ton from then existing deplora BILE
condition of utility and sanitation
i,al. which it WAS intended to be and
which destiny it is fulfilling.
These expenses accumulated between
! burdensome upon both the District of
| Columbia and it's citizens. which bur-
| den became fully realized and for which
relief was first sought by the act of
June. 1874, providing, among other
! things:
| Act of June, 1874.
/ 81 nat joint select committee shall
be appointed, consisting of two sena-
tors. to be appointed by the presiding
officer of tho Senate. and two members
! OF the House. TO be appointed by the
Speaker of the House of Representa-
| tiVes, whose duty IT shall be to prepare
!
I District of Columbia and appropriate
! drafts of statutes to be enacted by
Con gress for carrying the same into eff
feet. and report the same to the two
houses, respectively, on the first day of
the next session thereof; and they shall
also prepare and submit to Congress a
| statement of the proper proportion Of
the expenses of said government or
any branch thereof. including interest
on the funded debt, which should be
borne by said District and the United
States. respectively. together with the
reasons upon which their conclusions
may be based
June %. 1874. the sundry civil act of
that date makes reference to interest
on the funded debt as follows;
All the above sums, except so much
, thereof as may be paid for interest, as
aforesaid. to be considered and adjust
go hereafter a part of the proper nro-
portional sum to he paid by the United
States toward the expenses of the gov
ernment of the District of Columbia"
| The message of President Grant in
December. 1874. contains the following:
| The act of Congress Of June 20, 1874
lcontemplates an apportionment be-
tween the United States government
ard the District of Columbia In re-
spect to the payment Of the principal
ard interest of the 3.S5 bonds. There
fore in computing with precision the
bonded debt OF the District the ag-
gregate sums above stated, as respects
3.65 bonds now issued the outsta ndin q
certificates of the board of audit and
the unadjusted claims pending before
that board should be reduced TO the
ieXtent OF the amount to be apportioned
TO the United States government in
the manner indicated in the act of
Congress of June 90 1874"
Provisions of Early Laws.
The appropriation act of February I.
1875. contains the following provision
That the sum of s1S2, 500 in currency.
or so much thereof as may be neces-
sary, be. and is hereby, appropriated
Tor the payment of the interest on the
bonds of the District of Columbia
known as 3.65 bonds. due on February
: Continued on Second Page.)