The Argus Was Correct

Every contention of the Argus last week in reference to the city finances was sustained by Mr. Seyler's report to the finance committee and made as their report to thee council Monday. He found that there was $30,189.55 in the State street paving fund, a district fund, which belonged to the street fund, a city fund. He found that the Ann street paving had been paid out of the State street paving fund. He found that there was not a heavy overdraft on Feb. 1, 1903. He then went on and figured that on March 1 the overdraft would be $6,607 and by July 1 about $23,000, and as to this point the Argus is not disposed to take issue. What the Argus has stoutly maintained is that this is a condition which has existed in this city for a great many years, that it is not contrary to the city charter and that it would be better for the city to pay interest on $6,600 for four months and on $23,000 for a few days than to pay interest on $25,000 for from one to ten years. 

Twice since the present writer has been on the Argus have the city funds been placed in good shape and once they were so placed that there should be no overdraft at any time during the year, but such is human nature that the city has never been able to keep a surplus on hand. Always some new extravagance or some improvement has come up to put the city back into the shape from which it has been rescued. 

The theory of the city charter is that the city must not spend more in any one fiscal year than it has on hand or raises in that fiscal year. 

If the city should raise exactly the same city tax as last year and Mr. Seyler's estimate of an overdraft on July 1 be assumed as correct, then the city would have $50,000 to run the city from July 1 to February 1, seven months. As this is more than it took to run the city eight or nine years ago a whole there ought with economical management of be a surplus is the treasury on the first day of February of next year.

Mr. Seyler’s report was not turned over to the city clerk as it should have been and an effort was annually made to keep it from the Argus today. It will appear in the council proceeding in the Argus later.