Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-03-16

out of the revenues from the operation of
the cars.
| THERB are more ways of killing dog than
| l. by hitting It on the head with a sledge
hammer.
There are more ways Of attacking the Tay-
lor transit plans than by direct assault upon
| them.
Substitution OF other plans has already been
| attempted But as soon the people under
| stood what was going on they protested so
| vigorously that the substituters began to
| hedge. But they have not given up entirely.
The city is awaiting with such patience as 1t
can muster for the full disclosure of the pro-
gram of the present Director of City Transit.
The move made by the Finance Committee
OF Councils may or may not have been directed
at the Taylor plans, but one Is in mood
to give Councils the benefit of the doubt 1t
was suggested that the burden Of the proposed
loan of sS6So0O0O would be so heavy that an
increase in the rate of taxing real estate would
have to be made in order to raise money for
the interest on the bonds and for the sinking
fund to redeem them. The present rate Is 81
on every $780, 1t was said that It would take
from Slip to sl.25 to meet the new charges
The higher rate would increase the tax bills
of every householder by one.quarter.
There is no objection to the appointment of
a subcommittee of the Finance Committee to
confer with the Controller on the subject, and
to ascertain to what extent the fixed charges
will be increased by the proposed loan. The
Finance Committee needs to have the facts
before 1t for its guidance. 1t needs all the
facts and not a juggled mass of figures The
Controller is expected to supply the subcom-
mttee with complete and definite and care
fully analysed statement, made so clear that no
rpssh1y mis- ~ and def
mite that it will not be possible for any inter-
ested persons to misead the public by Of
his figures.
Bonds to the amount of $50, 500 900 cannot
be issued without increasing the fixed charges;
that is, unless they are issued for public
works which earn an income and provide out
of their own revenues money enough TO pay
the interest and provide a fund for their re-
demption. The danger at the present moment
lies in the possibility of concerted attempt
t. convince the people that the money needed
for transit cannot be provided without raising
the tax rate beyond all reason.
But whoever tries to make the people be-
lieve that the Taylor transit plans cannot be
carried out without increasing the burdens
upon the taxpayers will be guilty of an at
tempt to perpetrate a fraud. Provision was
made In advance for the protection of the tax
transit bonds under the Taylor plan during
the period of construction to be taken from the
proceeds of the sale of the bonds, and will thus
become part of the cost of the new hgh-speed
lines 1t is not until a year after the new
subways and elevated lines are completed that
the fixed charges on the bonds are to be met |
by the revenues from their operation. The |
Frankford lps will earn money from the day
that 1t is opened. This is admitted by the
most pessimistic. The optmsts are confident |
that it's surplus will be so large that con-
siderable sum can be diverted TO carry the
fixed charges on the other lines. which may
be slower in showing balance on the right
side of the ledger. The Broad street subway,
as originally planned by Mr.. Taylor and in
dorsed by the people at the polls, is likely to
show a surplus above all operating expenses
within a few months after the cars begin to
run. The parallel lines are already crowded |
beyond their capacity, and population is grow
ing rapidly in the districts which 1t will ac- |
commodate.
1t is morally certain that the taxpayers will
not be called upon to pay dollar toward the |
fixed charges on the new transit lines II they
are built as Mr.. Taylor planned. The city |
merely lends its credit for the work. with little
more possibility Of loss than would confront |
the man who was asked to indorse a 100000 |
note AT tne Dank Tor JOhn D. EOcketeller.
Every prudent citizen win keep these facts |
in mind during the next few months. 1t will |
then be impossible for any one to deceive |
him or to confuse his thinking by talk of an |
impending increase in the tax rate. II the |
increase has to come. as may be possible |
It will not be because of any transit |
loans. 1t will be because of the bonds
issued 20 pay for the completion of the |
Parkway. for the building of the Free Public |
Library. and the new hospital at Blockley It |
will be for the interest on grade crossing and |
sewer bonds and other like improvements; and |
If the Administration enters upon any such |
foolish and infantile financial policy as is |
involved in borrowing money on long term |
bonds to pay the salaries OF new policemen |
and to meet deficits in current expenses, II will |
be such things that win boost the tax bills.
The crowning glory OF the plans as perfected |
by Mr.. Taylor is that they provide for an |
imperatively demanded extension Of the rapid
transit facilities without burdening the city
in any way with the cost