Show PUBLIC DEBTS OUR oua northern neighbor ogden oden has under consideration a project to make important and extensive public improvements prove ments to the extent of and as its fund on hand land prospectively for some time will not equal that figure it is proposed to issue bonds for the amount payable at some future time which obligations are to carry as light a rate of interest as will enable them to be floated to meet the later eat at and provide spinet against the day or days when the bonds would mature and be come convertible into par cash on call a sinking fund would have to be created at once and late into we this fund an amount deposited continuously proportioned to the whole amount of t the e principal and interest alto ad thus while enjoying the benefits bitne fits that would wood arise from the immediate expenditure of the money the city would be curtailing many of the means of well being now steadily enjoyed mile unless th erate of taxation were raised and against this proposition we fancy very every taxpayer would arise as one man and ad protest this la is a matter in which our friends of the be junction june tion city alone are interested and ills it Is fortham for them to say what they will or will not do it to Is thought thou in ht 11 to make the burden lighter by placing a large AW part of it on the coming generation and if the measure should carry at all this would seem to be eminently wise ud and proper sance since those these who follow w would 0 ul in t the 0 natural course of things enjoy to th the e fullest extent all the benefits acqua acqui acquired r ed by reason of the indebtedness with th the additional advantage of a wider wl der and more acre prolific abde field from which to draw revenue so se that it bonds or other obligations Q can be made so attractive to speculators or patriotic investors that tilty they will pay out ready tub cash for the return of four or five d dol jua juson on the hundred every year to for thirty AMY years we can see no ao reason why the be proposition to divide the burden sho bould old not be made the first and chief As asa a rule claing going in debt is a bad practice and eads to worse results inert are times however when it is sta for an ind individual ve to become th thus ob obligated ted to another and occasions when it is in imperative tor for nations at states ates or communities to do so BO but the rule that it is ever so much harder haider to get out thin than to get in has no ao exceptions take tor example the case am of the state of virginia durtan the war it ingot t so overwhelmingly in debt that the e ablest financiers could for fora a tire time see nothing but bankruptcy or else also repudiation and disgrace staring the mother of presidents in the take face to adato add to the dilemma about one third of the state was gut cut off and made aade a separate commonwealth under the name of west virginia leaving the entire burden to fall upon the fraction that was left the debt question at once became the paramount issue in the tae politics of virginia and for several years the repudiation bartt party was strong enough to hold the state t tats keep two members in the united abates states senate and have things pretty much its own way of late the numbers of this ft organization have dwindled so muck that only through an alliance with the republicans is it en wed to maintain an organal lation at all the democrats have all ang favored ored the funding scheme that h making ng the debt payable largely by haure inhabitants and giving those who hold securities a small rate of in west which is certainly the more honorable isnor able plan and altogether preferable by bondholders bond holders to repudiation Us this is substantially what is of doing the remaining remnant of virginia vir elf ats or Re adjusters as uey thil like to be called now in ue united states senate is in rid ak eberner Wb erner mer who now has a bill pending wi that body as an the outcome of the wot debt controversy in his state this state bout 0 in 6 per aart t decked 1 was to put rd of this debt on west virginia quo and issue now new 3 8 per cent bonds lor for the by a process of scaling g I 1 t the debt was figured down to abo about u t mw oOOO the abu pons were to be good at tf pat la in payment of taxes and it was I 1 MI e tast it d to the row paying I 1 taxes la s coupons us of course put no amb cal b to Is the th e treasury and all kinds legislation was used to get rid d 01 them m with varying eess avery time the country found a scheme mahone y 4 inventor and principal champion w readjustment would champion their cause oil 1 I believe said a elch laka la banker kw the other day that it if to xo go behind the va munro the c jo wm will to he and thus it goes oes if lor for the sake of public policy debts must be contracted it would seem to be the part pact of widson to have a perfect understanding and fair arrangement before the money changes hands bands |