Show The Mayors Mayor's Statement THE THE TELEGRAM is mostly amused by Mayor MayorI I Marcus' Marcus rejoinder to its editorial of October October Octo Octo- ber her 31 Unauthorized Bond Issues In his de defense defense defense de- de of his administration published Sunday he says the editorial was so silly that anyone knowing the actual conditions must realize that no change can be made in the present method of handling tax anticipation notes Without action by the legislature We do not believe it silly to call attention to the fact that conducting city government on borrowed money imposes an added burden upon taxpayers The Telegram has inveighed against this policy in state county and local government for many years and will continue to do so When City Auditor Samuel F. F Nicholls re returned returned returned re- re turned to the city from a convention of municipal municipal municipal finance officers and made the assertion that I was unable to learn of any other city that borrows sorrows as much money annually as Salt Lake City and further stated that the city is borrowing borrowing borrowing bor bor- rowing annually to finance the or ordinary ordinary ordinary or- or operations of government The Telegram believed it important news for the community It t also sens sensed d its responsibility to comment on the he matter At the time the auditor made the statement he ie also pointed out that the legislature would have lave to act before the situation could be changed We consider this wholly beside the point The legislature e listened to politicians' politicians appeals when it it gave tax anticipation notes their pr present sent legal status So did the legislatures of other states Taking advantage of the opportunity to borrow in this way to tide over an emergency there are occasions when it is both necessary and prudent Inescapably though it increases the taxpayers' taxpayers burden Any practice or policy that adds Unnecessarily unnecessarily un un- necessarily to the cost of government is inimical inimical mimi mimi- cal to the public c welfare and cannot be successfully successfully successfully success success- fully defended If any valiant politician has rushed to the legislature to seek repeal or amendment of the law that permits tax units to borrow money without referring the matter to the qualified voters the commendable gesture of civic righteousness righteousness righteousness right right- has escaped our notice Mayor Marcus Marcus' statement in the main was wasa a defense of the operations of the city finance department Many times The Telegram has voiced commendation of the m mayor mayor as finance commissioner and of the commission as a whole for its efforts to improve the city's financial position As the mayor leaves office at the first of the year the city will be in a better position than it has been for years We have only praise for this The mayors mayor's statement said Statements such as have been made during the campaign are bound to hurt the financial status of the city Investment houses and other buyers of the city's interest-bearing interest paper are not ac accustomed accustomed accustomed ac- ac to accept assertions in political advertising advertising adver adver- using as evidence of credit worthiness Their experts go to the records The city's credit po position position position po- po is good The outgoing administration has bettered it Campaign oratory and advertising have had no effect upon it and cannot have The mayor said his statements were not made because of any personal pique but because I feel that the accusations are harmful to Salt Lake City and its people As to that we are not wholly persuaded Neither are we persuaded that it is silly to urge that the city get on a basis shall continue champion champion champion cham cham- you pay-as-you-go We Ve to pion this businesslike goal as a means of lightening lightening light Ugh t- t ening the taxpayers taxpayer's load |