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No Dispute With Mr. Seyler

No Dispute With Mr. Seyler image
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Editor Argtre:- Permit me to state in yonr paper a v. ords that I may not be misunderstood. My report to the coime i i made at the request of the flnance committee, and as far as the matter of overdraft March 1 is concerned the figures agree with tliose of the Argus. I refer to the snpplementary report, which was only an estímate attached, bnt not a part of the report proper. The Argus figures were made from a different Standpoint than I had plantied ruine. I eñdeavored to show a bout what the city would pwe July i, ftikliii' i'ni' cci. opths for last year as a basis, ihnt is pVñoiíáoa for May were classed as May warrants, June for Juue expenses, etc. The Argus looks at it from the llght thiit, as they are not allowed untll the mouth following, they should become a charge for that month, viz., MHy Jills for June, June bilis for Jnly. My estímate was basecl on what the city owes, the Argus on what it had to pay out, the May bilis would be a keu out of the June money on hand, the Juue bilis out of the July mouey on nana, in the Iatter case the overdraft July 1 would be lesseued, which would result as the Argus has stated. The city will be required to advance the sum of $2,500 to pay sewer and parement bonds March 1, as there is tiot suffic-ient funds there to meet it, vvliioh wil! iBcrease the overdraft. Following tlio lines of the Argus the overdraft will be about as iollows: lareh 1, overdraft $ 7,ü 4.priJ 1, overdraft 17,-!. lay 1, overdraft 2O,17!i 88 une 1, overdraft lü,! nly 1, overdraft Eespectfnlly, EDWAED L. SEYLKU. The Argus today is not disposed to o into a discussion of what the overdraft on July 1 will be, as what tlmt overdraft will be can only be deteh mined by the aniount that the will spend and in the tixing of that the Argus has no volee, but what it does say is tnat wnetner the overdraft on July 1 be $15,000, $19,000 or $21,000, it can all be taken care of willi the lar .June tax levy, collected in uly, and enongh money left to run the city until Fob. 1, 1904, and a balance be left in the treasury ou that This can bo done without any Iiicj in taxation. No charter law is vlo by the intoverdrafts and run a long finaiu hat t aJways has : ïhere is no necessity of issuing bonds, whifïi are.really a mortgage on the homes of all tax-payers. There is no necessity of paying interest for from one ro ten years to take care of a perble overdraft of from three to four mon I The Argits has ent down, by throwIng the calcium H.sht of Rublicity on aated overdraft of $40,000 for which bonds were to be ! to v overdraft of $19,000, wliicfh wou ld be wiped out in a few montlis without bonds, and this care of bonds which should b been taken otherwise, i f tlie business of the city had been eonducted right up to the handle.