| Show BOUNTIFUL JUNE 1 I 1928 t t The NIgh e of Bonded Indebtedness I 1 In San n Francisco is like i a lot of other f I large and small cities in that it IS i bonded for municipal l ownership plO pio beyond the legitimate bonded bonde j limit l this fact fact there is constant political pressure to tir f increase the bond debt and the 13 tax burden bUt den for further fUl ther experiments ir rn m mI I mum p ll m owned ned enterprises I The San Francisco Bulletin ha has I made 1 a complete list of the cIty's city bonded debts which shows shops that nearly half lf of the burde burdei i the taxpayers payers are lre carrying is for expense pense in de developing w water q ter and paver pm er projects with Ith milI mIl millions lions hons more demanded to t complete the th I unfinished undertakings In the mean mear j the Bulletin points out that thil t meant i private ate companies comp under public regu re u lation regulation of rates are furnishing San Sar Francisco citizens servIce It then asks the question Does my any anyone anyone myone one seriously believe e that a v atei stem 4 system which when completed WIll have ha cost us in the region of 1 0 O l will wall be able to give gise us water Wlter at a cheaper rate than we sae e paid pal to the company which sold us its plant for 41 The situation in San Francisco so 80 clearly anal analyzed zed and itemized by the Bulletin is so typical of oC condItions m In man mani municipal state and federal governments go that it is worth the stud of other communities All public officials and the people talk about tax reduction When will wilt the burden become lighter Not untIla untIl V J a halt is called in the org orgy of muni municipal cipal state and federal expenditures e for industrial undertakings which arc now conducted more efficiently and less e expensively by private enter enterprise e can stop favoring and voting for bonds for political projects whIch e private ate enterprises and md taxable L properties out of business in favor of tax exempt publicly owned under undertakings undertakings takings and ind thereby give the taxpayer er and common citizen i a chance to pay as he goes |
