Evening star., 1921-07-24
FIFTY YEARS AGO IN
b THE STAR.

All doubts of the successful fiota-
tion Of district territorial loan for
public improve
Imnrovement ments. which were
expressed by some
Loan Floated. ffty years ago
when the new local government was
:nstalled and adopted a program OF
important works, were set at rest,
The Star of July %. 1871, says:
1T will be good news to every per
son interested in the prosperity OF
Washington and the District to know
that Gov Cooke has succeeded in
negotiating in New York. sl.500,ooo
of the improvement bonds OF tne DIS
trict at the exceedingly favorabie
rate of 97k cents. with the further
advantageous condition that the bonds
are only to be delivered in sums OF
$500 900, as the progress OF the pub
lie improvements may require-the
bonds, Of course, only drawing interest
from the time they are delivered.
Under the provisions of the act the
sum negotiated il all that was ap-
propriated for this years expenditures,
rangements for that sum, but the Sew
York parties agree to take the balanc'
of the four millon-dollar loan on the
same terms whenever 1t Is needed after
this year.
1.-The negotiation Of the loan on these
favorable terms and with the provision
by which the money is only to be used
as needed and draws interest only from
the time issued is most credIiable 10
the financial ability of Gov. Cooke, but
the feature last named effectually dis
poses OF the last vestige Of the clarnor
about the illegality of the bond made
by the Tammany crowd and by the
brokers who dread to see their occu-
patton gone of shaving assessments.
business upon which they have fattened
under the old order Of things, but which
must necessarily be broken up by the
economical cash paying system now
to be inaugurated.
'1t cannot be claimed for a moment
that the sum negotiated. S1,500,00o is
in excess Of per cent
upon property. and there
fore IL the attempt is
SouSnt. still made to push the in
function il will be demonstrated most
Enthusiastically that the purpose is purely
factious and to the end Of Gripping an
improvements. The parties TO lne IN,
junction, should they now persist III
their course, VIII NC hc.o
sponsible by the pubic iof the oIhei
prostration of all branches OF pus.nes
mat is sure to follow upon a stoppase
of the contemplated improvements. Ihs
community is not in a temper TO stand
patiently this prostration or business
xhiIe the injunctors proceed TO aVaii
themselves of all the technicalities of I
the law by which they hope to prevent
a stroke Of work being done for years
while th3 suit drags IT'S SLOW couts"
through the courts. the court u pane
and the United States Supreme Court
We hear that already some OF our clu,
zens who were misled by the intereste"
clamor against the Improvement loan
and have sympath' Zed with me !n!uhc
, ton party have today expressed theH-
selves entirely satisfied with What ma
been done by the board OF pubic workS
and are eager now to have the soou
work of improvement commenced al
once.
1--WE have no doubt that now that th'
facts are known concerning the adVah
tageous nature of the loan. ana th'
fears Of the most timid are dispelled a.
! to it's legality, the injunction move
nent will receive SO little encourae.
ment that 1t will be abandoned. NJ
citizen who wishes to stand well IN I'M
community can afford to be ldenufe'
further with movement whlch ca.
have no other effect than 10 stop ever
business enterprise in the Dlsirict,
teriy ruin trade now stagnant ana
priye our mechanics and laDorers OF IN
opportunity to earn hVephood ah'
provide comfortably for their families