OCR Text |
Show j Looking Ahead MILWAUKEE city officials have determined thaf money will work for a city the ' same as it does for an individual. To that 'end the city has set itself to a definite task, , -the first step of which is to get out of debt. "-Under the sanction of the state legislature, Milwaukee has to set aside $250,000 annually annu-ally for the retirement of , the' public debt. Furthermore, It is planned to curb future bond "Issues, the hope being to have the city out of debt In forty years. Forty years, no doubt, Is a long time to -wait It Is a slow and tedious road to travel, ' but. it has a definite goal which is desirable in civic affairs. Other cities would require as long or longer to place themselves on a substantial sub-stantial financial basis. They despair of ac- complishing It and are content to go on paying interest and piling up the public debt, through "new bond issues, for the future generations 'la settle, j . ' . It la clear that fhls thing cannot go on forever and that sooner or later there must be an accounting. Milwaukee has determined to expedite the day of settlement by considering consid-ering tier indebtedness for what It Is. Nothing increases faster than debt, and this realization r on the part of Milwaukee Is a step In the right -direction; Eventually the city officials hope "'Jo be able to have , money to lend, thereby collecting the interest which they now pay out. This is even more desirable than a city free of debt and marks a new departure it -;Wic aims and ambitions. In view of the fact UJiat city officials change from year to year 73nd that they hold to different theories, it Is ."Zoing to. be difficult for the city to stick to :its plan through the long period required to liquidate its debts. " . . ' .. |