The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1920-05-07

1
for both principal and interest has
been paid by US. On January /, 1920
this amount totaled s14,81e.5O which
represented $4,000 paid on the princi-
pal and $s,S19.50 by way of interest.
Here again in our tax rate Cor this
year we have provided for the retire
ment Of $500 mofe Of the principal
I of these bombs and 10. he payment
Of $3.50 interest on the remainder.
So then, since we have been in
Office we have actually paid of $4,000
of the city's Indebtedness together
with $12,672 ntsres., making total
Of $21,672. We are responsible for
the tax rate for 1920 and under it
either we Or our successors will be
able to pay of $1,000 more Of the
principal plus 1855 more interest.
By January 1, 1921, therefore, our
debt will have been reduced by 1900
and the amount Of interest paid will
total $16.2z7, making in all the sum
Of $2S,227.
Now what has beeu happening to
the tax rate while we have been
shouldering this load?
When we speak here Of the "tax
rate" we meaa Of course the local.
rate, the only rate for which we as
commissioners are responsible. We
home nothing whatever to do with
county, state or school expenditures.
The county. for example, will make
its appropriations for the year ard
levy its assessment on our city. We
act merely as collecting agents and
the same with :ns state and the
schools. We have absolutely nc con-
troll over those rates. To illustrate:
! the total of the rates for 1920 is 1857
per 500. The CITY rats is 81 26.
That means for every dollar we levy
by way of taxes this year we shall
have the spending and disposition Of
but 35 cents. This is a matter often
lost sight Of but it is well to keep it
in mind.
Now what has been happening to
our city rate all this time? This
rate, in 1917, our first year, was
$1.OS. That rate simply represented
conditions as we found them after
taking office. We did not create it
or make it and were not responsible
for it in any sense. The first install
ment of interest of slips on the
school bonds issued m 1916 came due
on January /, 1917. Council refused
to make any appropriation for this
item in its 1916 budget on the ground
that this was 1917 debt. In aLdit-
ion we paid $500 Of the princ:;'sl
Of those bonds in 1917. The 81, 400 m
terest on the floating Indebtedness
had to be provided for. No money
was borrowed to make up any deflc-
iency in taxation. All Of these fac
tors are reflected in that $1.0S. The
next year, 1918, the rate was s1.os-
two cents lower. Last year, 1919, the
rate was $1.21 and this year it is SIPS
The increase, therefore, over period
of four years has been Is cents. The
county rate in 1917 was 81 cents;
this year it is 90 cents, an increase
OF SO cents,-just double our own.
Let US present it another way. In
1917 we raised by taxation for city
purposes the sum Of $4,000. This
wear we are asking for 1872, 900. 1t is
hardly necessary to state that the
past four years has been period OF
high prices and increasing costs. And
it must be remembered that no de-
felt has been accommodating against
the city and that every obligation has
been met as it has arisen. Despite
these considerations the cost Ut our
municipal housekeeping has increased
hut $4,000.
Before closing it might not be out
of rlace to say word about our
streets. A lot of people are likely
to Judge the success or failure of an
administration by the condition OF the
streets. The fact is that less than one
fourth of the money collected is spent
upon our highways. The manner IN
which the rest of our funds is applied
is never inquired into and it is but
natural that people should Judge only
by what they actually see, Bat we
are not making any apology f. the
condition of our streets. We think
we can confidently ssse,; that our
streets came through the hard winter
in as good shape as the streets OF
any city of our size in this vicinity.
This, at any rate, is the testimony OF
people who travel and who know.
Some of our citizens have advanced
the idea of using the street appro-
priation each year for permanent paw
ing. We have gone into that matter
quite thoroughly and have found it
impossible. The amount we spend on
our streets each year would pave only
the length of two blocks. At that rate
it would take at least so years to pave
lust the main streets OF the town.
Meanwhile what is going to happen
to those not yet paved? And at the
end of that time what is going to be
the condition of the ones that have
lhasr naved9 If prices readjust them