Part 10 (1/2)
The Council, therefore, had to provide for these debts, and, at the same time, not place a burden upon an impoverished people, in the form of taxation that they could not bear. It was a trying ordeal, but the members were equal to the emergency. That Council was composed of Walker Peyton Conway, J. Gordon Wallace, Hugh S. Doggett, George W. Eve, Patrick McCracken, Wm. C. Morrison, Joseph W. Sener, John T. Knight, John H. Myer, George Gravatt, Thomas Harrison and John James Young.
The finance committee of that Council, which was expected to provide for the finances and bring before the Council, for its consideration and adoption, such measures as would meet the emergency and not oppress the tax-payers, consisted of W. P. Conway, J. Gordon Wallace and Hugh S.
Doggett. With great diligence they applied themselves to their task. A tax bill was formulated and brought before the Council levying a tax, which was adopted, and in a short time money was raised, the debts were paid in installments until all creditors were paid or satisfactory arrangements made with them.
In 1876 the old bonds of the city were funded, by mutual agreement of the Council and the bond holders, at sixty-six and two-third cents on the dollar, the new bonds to bear seven per cent. interest and run thirty years. This was a wise arrangement of the Council, notwithstanding there was considerable opposition to it, the opponents of the measure claiming that the rate of interest of the new bonds should not exceed six per cent., although money was then bringing from ten to twelve per cent., and sometimes more than twelve. The amount of bonds issued under this funding act amounted to $125,000.
By this arrangement of funding one-third of the princ.i.p.al of the bonds was eliminated, the threatened suits for past-due interest were averted, and it put the Council in a position to provide for the interest as it should fall due, take care of the floating debt, and at the same time reduce the rate of taxation, which the tax-payer hailed with delight. Thus the delinquencies of the former years were met and provided for, the rate of taxation was not oppressive, and the town, being under the control of its own citizens, untrammelled by military authority, rapidly moved forward, public confidence in its ability to meet its obligations was restored and thus munic.i.p.al affairs were placed in a satisfactory condition. The credit of the city is as good at present as any city of the State, and no bonds have been funded or sold in the last twelve years at a greater rate of interest than four per cent., or at any figure below their face value.
PRESENT INDEBTEDNESS, INCLUDING ANTE AND POST BELLUM BONDS.
The bonded indebtedness of the city, and the improvements for which said bonds were issued is a matter that concerns every citizen, and for their information are here given as of 1908:
Five per cent. water bonds, issued July 1, 1895, due January 1, 1909, coupons payable January and July 1st $ 30,000
Four per cent. gas bonds, issued January 2, 1900, coupons due July and January 2nd, bonds due January 2, 1920 25,000
Four per cent. bridge bonds, issued July 2, 1900, coupons due January and July 2nd, bonds due July 2, 1920 25,000
Four per cent. electric light bonds, issued January 1, 1901, coupons due July and January 1st, bonds due January 1, 1931 12,000
Four per cent. sewer bonds, issued April 1, 1901, coupons due October and April 1st, bonds due April 1, 1931 18,000
Four per cent. street improvement bonds, issued April 1, 1901, coupons due October and April 1st, bonds due April 1, 1931 20,000
Four per cent. water and gas bonds, issued April 1, 1905, coupons due October and April 1st, bonds due April 1, 1931 20,000
Four per cent. gas and water bonds, issued September 1, 1905, coupons due September 1st, $5,000 to be paid each year till paid, $5,000 already paid 20,000
Four per cent. bonds funding the old 7 per cent. bonds, issued May 1, 1906, coupons due May and November, bonds due May 1, 1936 119,400
Three bonds of $5,000, due National Bank of Fredericksburg and payable $5,000 on November 1, 1908, and yearly thereafter, bearing 4 per cent. interest 15,000
Making the total bonded debt of the town $304,400
Many of these public improvements were constructed by the authority of the freeholders of the town, by a majority vote cast at special elections appointed and held for that purpose; others were constructed by action of the City Council under authority granted them by the new const.i.tution enlarging the powers and duties of city councils, and appeared to have the sanction of a large majority of the tax-payers of the town.
[Ill.u.s.tration: Confederate Cemetery at Fredericksburg. The pyramid of stones marks the battle-field at Hamilton's Crossing, between Jackson and Meade. (See page 185)]
CHAPTER IX
_The Courts of Fredericksburg--The Freedman's Bureau--Court Orders and Incidents--First Night Watch--Ministers Qualify to Perform Marriage Ceremony--First Notary Public--Fixing the Value of Bank Notes--Prison Bounds for Debtors--Public Buildings, &c._
If every one in this Christian land was a Christian, and was governed by the rule laid down and inculcated by the Christ, ”whatsoever ye would that men should do to you, do ye even so to them,” there would have been but little, if any, use for courts in this country. But all people are not Christians, and all Christians are not governed by that golden rule, therefore courts were necessary to punish crime, settle disputes, protect the weak against the strong, secure the widow and orphan in their rights, enforce provision for the indigent poor, and perform other functions for the benefit of society and the well-being of the country.
What courts Fredericksburg had before the Revolutionary war is unknown, as no record seems to have been left of them. In all probability the successors of Major Lawrence Smith were also authorized to execute martial law and hear and determine all questions, as a county court might do, until the town was chartered in 1727 and placed in the hands of trustees.
These trustees had certain powers conferred upon them by act of the House of Burgesses, and they were to keep records of their proceedings, but these records cannot now be found and quite likely have long ago been destroyed.
It may have been possible that the Colonial Governors appointed magistrates to hear and determine causes within certain limits and to punish petty offences, while causes beyond those limits and felonies were heard and determined by the court sitting at Williamsburg. Of this, however, we are left to conjecture, as no records are at our command. But if this had been the manner of dispensing justice prior to 1781, it furnished a pattern for the Virginia Legislature for many years thereafter with respect to the town, as is referred to elsewhere.