Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1922-05-17
EDITORIAL
THE MAYORS STATEMENT.

THE statement of Mayor Sheppard
before the citizens mass meet
ing at the city hall last night was
very gratifying and was received
with the greatest Of good viii. An
alyzing the recent audit report of
the city's financial condition, he
reached the conclusion that, not
charging permanent improvements
made under compulsion of conditions,
the administration actually had op-
Grated the city government within its
revenue and even showed a surplus
of S39, 1928 for the three and a
half-year period covered by the audit.
The showing made by the mayor
was lucid and easily followed by his
hearers. He did not dispute the
audit in any degree, but merely in
terpreted it in the light of past
events and conditions in the city
familiar to every citizen. The state
ment apparently was greatly appreci
ated by the men present, who hearth
ly applauded it when he concluded.
The only jarring notes were some in
quiries by w. M. Jones which the
mayor admitted he was unable to
answer, and a reference by J. E.
Poole, former alderman, to an item
in the audit which the mayor had
failed to mention. Mr.. Poole refer
red to the deficit in the bond sinking
fund of $4,000, of which only about
$4,000 VISA chargeable to the pre-
vious administration, and Mr.. Jones
inquired whether it was, not a fact
that the machinery installed at the
city pumping station was not replace
ment equiment rather than extension
or additional equipment, and there
fore not allowable to be charged as
new capital investment.
Obviously, these were weak spots
IN Mayor Sheppard's otherwise il
Illuminating analysis of the auditors
report. The bond money has been
diverted from the sinking fund and
spent The pumping station, like
other city property, has received no
depreciation charge-off, it appears,
and as a result no funds were on hand
to replace the worn-out machinery
and equipment, although the proper
ty has been carried on the inventory
at full value. Every business man
knows that this is not fair financing
and not good business. And proper
charging of these accounts would
modify the showing made by the
mayor.
But what Americas faces now is
the finding of way out. 1t is pro.
posed to work out a plan for issuing
long time notes to liquidate the entire
aeot at once, thus reducing the inter
est rate and effecting an important
saving there, as well as re-establish.
ing the credit of the city so as ia
permit it to buy supplies it needs in
the open market at the lowest possi
Die prices instead of paying the high.
est prices, as now it is forced to do
1t is not now matter of criticism
but a matter of arriving at an allevi
alton of conditions.
But will the people approve a plar
TO issue notes for the $146,OOO float
ing debt under the present plan o.
government under which it was in
CURED? We believe, like C. J. Clark
that it will hesitate to do so, bavin,
no assurance that the conditio,
not fecur. But under a chance +,
a form of government which ba
proved successful elsewhere. a MIA,
mat on its face is more business-lil,,
and which seems to offer a ehanc,
Tor improvement, we believe the peo
pie would approve funding scheme
IL would appear then to be good bust
ness. But under the present form
At would appear to be bad business