"What Do You Think?"

Citizens of Montclair, N. J. had a mighty pretty letter in their mail last week. The letter, from Mayor William E. Speers and Director of Revenue and Finance Bayard H. Faulkner, said that the town treasury had a surplus of half a million dollars. "What do you think?" said the letter, "would you rather reduce the town's debt another $100,000, leaving $400,000 to cut 1940 taxes--or cut 1940 taxes the full $500,000? The enclosed postcard is for your judgment. . . ." When Montclair's taxpayers had calmed down sufficiently to reply, they answered that they would take the $400,000 cut in the tax rate (which was already the lowest it has been in 13 years), and reduce the town debt.*

-- Another bright spot last week in municipal financing was in neighboring New York State, where a town with a population of 1,887 announced a surplus of $6,965. The town: Deposit.

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