The Bond Issues to Be Voted Upon April 7 1914 a Statement to the Voters of Chi
The Bond Issues to Be Voted Upon April 7 1914 a Statement to the Voters of Chi
Ill Chicago Bureau of Public Efficiency Chicago
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94 without issuing the $2, 184, 000 of corporate . Bonds which remained unsold at the beginning of the year. It is frequently contended that, since the City can realize by means of anticipation tax warrants only three- fourths of its income from taxation for any current year, it is necessary to maintain a surplus or balance of working capital equivalent to at least the remaining one- fourth of its total revenue from taxation, or about $3, 000, 000. While the foregoing contention may seem plausi...ble, a little study of the manner in which the finan- cial affairs of the City are administered will disclose that a fund of considerably less than $3, 000, 000 is sufficient for the purpose of providing merely a working balance. This was clearly demonstrated in 1913 when the fund available was actually less than $1, 500, 000. During 1907 the surplus was about $2, 700, 000; in 1908 12 Chicago Bureau of Public Efficiency. it was about $2, 550, 000; and in 1909 it was only $1, 950, 000. The Bureau is of the opinion that the surplus of $2, 583, 426.
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