CITY WITHOUT DEBT.

Dunstan Times, Issue 3133, 4 September 1922, Page 7

CITY WITHOUT DEBT.

* Forty years ago the city of Elizabeth "went broke" • at the beginning of July it began a three days' rejoicing that it is without debt. "It had lived) away beyond its means," says the New York Herald, "and it went the way that any person or business house or municipality might go in such circumstances." It borrowed seven million dollars —roughly a million and a-half pounds —to get on a sound footing, and) having paid back all that money, it decided "to make a joyful noise before all the world about it." It had been hoped to have the President of the United States present to give national importance to the celebration, but Mr Harding was unable to attend, and the city did the next best thing, and secured the presence of Vice-President Coolid'ge as a satisfactory substitute. That somewhat ornamental official, "congratulated Elizabeth upon her selfaccomplished emancipation from debt," and added that "she bad held up to the United States Government a worthy example that the latter was seeking to emulate," figures showing what had been done in that direction. The rejoicings took various forms, one big feature being the cremation of the old redeemed bonds, or one redeemed bond to represent the lot. There was a greatparade in the day with dancing in the streets, and at night a fireworks display at night to wind up the whole affairs, which seems to ahve been hearty and thorough, but still highly decerns. At any rate, the Chief of Police, commenting On the earlier proceedings, said: "If you'll notice this is something unique in the way of civic celebrations. I don't refer especially to the burning of the mortgage, but 1 ask you to look up and down the streets. Did you ever, in the old days, see such decorum? And mind you, Elizabeth was no better nor any worse than any other hustling town. But in the old! clavs the boys would be celebrating with whisky and the like, whereas they are now walking up and down clean streets pushing their baby carriages while the wife is holding forth with the other women, and everybody is happy. Tilings have changed—and changed for the better. Here we have a city celebration, and there hasn't been an accident or other untoward incident. Not a baby lost, not a child missing, not an arrest for drunkenness. Everybody happy audi as cool as a human being in good health can be with the thermometer the way it is. It shows in the reception Mr Coolidge got. Folks gave him a hearty welcome, but there was no rowdyism and the cops had nothing at all to do."