The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-03-26
Is II, After All, That Determines This Issue of
Little Town or Big Town? Hot Air,-or Horse Sense?

unessential detail. Al a result the general
fund was heavily overdrawn. Sinking funds to
meet pond obligations had been blandly ig-
nored. Bond issues were drawing toward to.
ward maturity in a bunch, There was no &C.
curate estimate of how much the city required
for operation or how much income it could
count on. The custom here, as elsewhere, had
been TO spend all that the taxpayers brought
in, and then draw on the future.
In cleaning up the mess il was actually neces-
sary for thirty five or forty citizens to endorse
the oity's note in order to clear more pressing
current obligations and permit the establish.
rhent Of an orderly financial system. That note
has just been finally discharged and its en-
dorsers relieved.
Before any new expenditures could be un
dertaken it was necessary to work a complete
reform in the city's financial affairs, to put it
on an intelligent business basis and to re-estab.
lish its credit. Less courageous or less com
petent men might have yielded to the more or
less constant demands for restoration of the
old order of make shift and hand to. mouth
financial policy. These commissioner stood
pat for the complete rebuilding of the city's
financial and credit foundation. They insisted
upon filling up the hole.
That job has now been finished. 1t is the
best job that has ever been done in Albuquer.
que's city government because IL has estab-
lished a solid foundation on which a Big
Town can be built. To permit that founda
ton to be wrecked by contempt for surpluses,
reckless spending and unbusinesslike methods
would be worse than a crime. It would he a
disaster.
The first move these commissioner made
after accomplishing the city's financial saliva.
ton, was to work out in complete detail a
broad, practical plan of expansion. The first
big step in that plan is comprised in the bond
proposals, Those proposals, if approved, will
permit expansion Of the city's limits, will pro
vide an ample water supply and will open the
way to execution of an inteiligently worked out
city plan.
To have attempted this expansion without
being ready with the equipment would have
been as foolish as it would have been impossi
bic of accomplishment. The commissioner
have taken the only way TO make expansion
possible. They have been headed straight from
Little Town" oward Big Town" since they
wiped small town stuff and peanut politics out
Of the city hall and established modern bust
ness methods there.
The task has required patience, persistence
and unselhsh application to the city's business.
These men have given that kind of service, as
the record shows. 1t would have required
much less of time and effort if these men had
jazzed their way into the city hall and out
again to the people with bond issues which
could only be sold at ruinous rates and dis
counts. They could have proclaimed Albu
querque a big Town" while the city's over
draft drowned itself in red ink. They could
have acquiesced in a Journalesque contempt
for SURPRISES and sinking fund requirements
They could have cut the water rates so that
home owners could have saved five dollars q
year on water while paying fifteen dollars a
year more in taxes TO cover the water works
deficit.
But where would Albuquerque be today If
that kind of city building had been the policy
in foroe7
The chances are that we would be conducting
a drive" for funds to pay the bumpers at the
water plant.
As matters stand Albuquerque is on a sound
financial basis. Its credit is as good as the best
It's maturing bonds can be met as they fall due.
It's sinking fund obligations are provided for.
Its current bills are paid. 1t is able to issue
half a million dollars in bonds for water and
sewer expansion, etc, without s~training It's
credit and without increasing taxes-and as a
starter for building Little Town" into Big
Town. that is a pretty fair start. 1t is a
whole lot better start than from Little Town
in a hole.
Moreover the progress toward Big Town
will be accomplished rapidly If we have the