| Show PRESENT ADMINISTRATION t COMPARED WITH MORRIS Americans Had on June 30 Net Debt of Morris Over Overdraft Overdraft draft Was Bigg Bigger r Deficit in Sight Possible Shortage of by End of 1908 L I Administrations Compared AMERIC AMERICAN N ADMINISTRATION DEMOCRATIC ADMINISTRATION I JUNE 30 1901 JUNE 30 1905 I Credit Credit Overdraft Balance Overdraft Balance nt fund Water supply Waterworks Streets Sewers 75 Library Totals Net total I On June 30 1907 the American party reform administration was confronted with a net debt ot of On June 30 1905 the Morris Democrat ie fr administration had overdrawn Its general Jeneral funds but the aver average average age overdraft for that period of the year ear Above Is a comparative statement ot of oft t the conditions of the various funds in what are called the general funds at atthe atthe the close ot of business June 30 1905 and June 30 1907 The comparIson needs no comment It speaks for itself The extravagant reformers In the council and the other officials of the ad administration administration ministration have been thrown Into a aA A panic by the statement of the rr Jr financial condition as published in The Herald Friday The city attorney has been appealed to and ard he Is now trying to patch up a decIsion for the city au auditor auditor which will allow him to evade the constitutional provIsion The contention of the attorney is 15 that this applies to the total net rev rey which was liberally estimated by byThe byThe The Herald FrIday at He says say that It could hardly be construed to apply to the contingent fund alone as this is only a portion of the revenue Auditor to Play Safe The auditor however desires to be beon on the safe side and when the con contin contingent tin gent Hent fund overdraft exceeds the ex expected expected revenue from taxation In No November November vember which is It Is likely that he will refuse to draw any more warrants until the courts pass upon the question as to whether the fact that the legislature has provIded that thata a levy leY of five mills Is all that can be benade made nade for paying the he ordinary expenses or of the government of the city is such as to make the contingent fund fall within the constitutional provIsion But even if the courts should hold otherwise there Is the gravest danger that the entire revenue of the city from the taxes to be this fall will be more than swallowed up by the I enormous debt which is being piled up by the present council and board of public works Even J It there is a small margin to th the good It wIll not be enough to give even a good start for 1908 and during that and succeeding years the city will suffer grIevously from the many wrongs perpetrated I upon It b by the present era of extravagant extravagant gant rule Some time during July Jul the council must fix the tax levy for the year The limit allowed by law Is 12 mills I I Last year an tax was levied and because or of the condition of the treasury an additional mill will have to be added this year rear to meet the needs of the city The council will take this matter up next week and the finance committee will struggle with It until July Jul 31 which Is the last date upon which the levy can be made Then it will be passed and the county treasurer instructed to collect for the city on the basis named Great Deficit In Sight The statutes provide that for the general running expenses of the city or In other words for the contingent fund only five mills can be assessed The limit will of course be used and andas andas as already stated the most hopeful ot of the reformers would not place the amount to be derived at more than This will be eaten up Imme Immediately immediately b by the overdrafts and to be begin begin gin 1908 with the next administration will probably have no cash in the con contingent contingent fund and a debt which will not be much less than The cost ot of running the city approximates a year so that by the end ot of 1908 there will be an overdraft ot of about to be overcome In this fund alone There is no hope of an Increased assessment which will materially reduce this amount and the only alternative will be for the city to secure from the legislature the power to issue bonds to overcome this deficit |
