Show THE CITY J1OXDS The ordinace for the issue of city bonds authorized by Act of Congress has been passed and the bonds will be placed on the market as the nedes sitles of the city may require The full amount of 5800000 has been authorized author-ized but of course that does not necessitate ne-cessitate the full issue at once There is no need to plunge as deeply into debt as we have the power Prudence Pru-dence is necessary and will be exercised exer-cised No one wants to rush blindly into debt to the utmost lawful extent There Is no present need of issuing bonds to half the maximum amount But there is little doubt that the total will be required at some time for the improvement projected and the opposition oppo-sition to an increased rate of tax will operate to that end We do not see how this additional bonding of the city could well have been avoided under the circumstances When the system is once commenced it seems impossibleto check up at once The interest must be paid it seems an easy way to raise money and one debt calls for another until a city or county or state will soon be swamped unless there is a limit set by law which cannot can-not be passed overt There should soon be plenty of money mon-ey at hand wherewith to go on with the public works that have been commenced com-menced and to find employment for many idle hands Times will improve population will increase capital will flow in and it will be easier to payoff pay-off the interest and then the principal than it would have been to raise all the money needful for the citys progress pro-gress by taxation from year to year The bonds will be all right if issued in wisdom x |