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 will 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 OPP
Grated the city government within it's
revenue and even showed a surplus
of $39,692.33 for the three and a
half-year period covered by the audit.
The showing made by the mayer
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 Earring notes were some in
quiries by w. M. Jones which the
noauor odpo;ftoJ bo woo ,,n,lIo -
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 snots
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.
ana as result no funds were on hand
to replace the WORKOUT machinery
ana equipment, although the proper
W 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 wonld
modify the showing made by the
mayor.
But what Americas faces now is
the finding of a way out. II is nro-
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-estabIisb-
ing the credit of the city SO as 70
permit 1t 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 ~ Al
AZ IS not now matter of criticism.
hut a matter of arriving at an allevi.
alton of conditions.
But will the people approve a plan
TO issue notes for the $146,OO0 float.
ing debt under the present nIap ~
government under which il was :,
CURED? We believe, like C. J. CLARK
that it will hesitate to do so. bav;ro
no assurance that the condition
not reeur. But under a CHANGE f.
a form of government which ba,
proved successful elsewhere. a MIA,
mat on its face is more business-Iike
ana Which seems to offer chance
Tor improvement, we believe the neo
pie would approve funding scheme
IL would appear then to be good bust
ness But under the present form
u you'd appear to be bad business