Camden Courier-Post – August 9, 1933
Resolution Denounces Borrowing of Funds for Projects Not Self-liquidating
One of two resolutions adopted yesterday afternoon by the Taxation Committee of the Camden County Real Estate Board opposes the borrowing by Camden county or city of any funds for projects that are not self-liquidating.
One proposed loan which the resolution opposed was the application for federal industrial recovery funds to carry on the Camden county park program. It had been called to the attention of the committee that plans are being considered to alter the city and county budgets for various projects.
The other resolution endorsed plans submitted to newspapers by the joint taxation committee of the New Jersey legislature for the relief of taxation on real estate “provided, however, that all such additional funds so assessed and raised will be utilized on for the direct relief of real estate.”
Other members of the committee are William S. Abbott, president of the Real Estate Board; Earl R. Lippincott, George B. Robeson, J. William Markeim, Carl R. Evered, William F. Schmid and Edward J. Borden.
Herbert K. Strattan, a Democratic leader of Haddonfield, also expressed opposition to the park loan appllication.
He stressed three reasons as his grounds for opposing the loan, the first being the absence of a definite plan for spending the money.
Strattan also charges that the members of the park commission are incapable of handling such a large project and that no one park has been finished and no portion of the parks are self-liquidating, thus necessitating large annual maintenance funds.
He also stated the loan would increase Camden’s bonded indebtedness, which could not be afforded at this time.