WHEN the factory in Anytown closed and the workers lost their jobs, things began to happen to the very life of the community. The factory not only disappeared as the community's backbone of employment, but the workers, unable to pay the taxes on their homes, deprived the community of revenue at a time when it was most needed. As the depression deepened, some of the workers forfeited their homes, and went to other localities to search for employment. As a result, property values in Anytown were further depressed and tax income was lowered even more.
During such periods, virtually all communities "tighten their belts," attempting to conserve their funds by various