Issue 21 and Volume 24.

MUNICIPAL FRANCHISE CONTRACTS PRIVATE enterprise and capital, when guided by a thorough knowledge of the situation and requirements and the results required,have enabled many cities and villages of our country to secure a satisfactory water supply, which was an absolute necessity to public comfort, health, and safety, and which otherwise they would have been utterly unable to obtain. Prominent among the obstructions in the way stand constitutional limitations upon borrowing money, or incurring indebtedness by municipalities. Many communities are unwilling to go in debt to the extent necessary to construct a proper system of water works and keep the mains extended to meet the demands of rapid growth. Sometimes the necessity for sewers, public buildings, schools, improved streets, fire departments, or other public requirements is so pressing that the amount of money which can be raised by taxation or borrowing is devoted to some of these purposes, while private capital…

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