Show L THE PROPOSITION to tar the proposed pro-posed Et nt Lake City bonds ought oct V to prevail for Uo obvious reason In the first place the corporation could not dispose of at par a taxable 7 per cent bond and in the second i place the entiro loan would be taken I I up outside of tho territory No per eon here is going to loan his noney I V at 7 per cent interest if that interest V ia to be reduced 2 or 3 per cent by V taxation This fact should be charS S to the lawmaker If they want to handicap Salt Luke in floating the loan and put an unnecessary expense upon the property owners then let S S them provide for taxing the bonds The aim should be to keep this loan as much aa possible in the city and no part of it should be abwed to go out of the territory if i it can be prevented There is plenty of money here to take up the entire issue of bonds and this V money will be invested in them if it has a fair chance but if an advantage advan-tage of 3 or 3 percent higher interest is to be given to outeide money lenders lend-ers the proposition is plain that the S outside investor will buy the bonds V r and the home capitalist will put his t money into other a jfl more profitable business If the bond are exempted from taxation a good many of them V will be purchased by people of small 5V means who will prefer to have their u little fortunes of 300 or 1000 thus r VV Bafely invested than to let the money lie idle in banks or elsewhere If the V V V taxing proposition is not voted down the corporaton authorities ought lo consider whether the city wants the V V loan under tte conditiona It might I V be as well to simply ask the Legislature to extend the corporations power for S borrowing when the latter could go into tbs open market and do about I SB well with its promissory note as t WilQ the taxed bond |