The Nevada Democrat., 1857-12-16

| Deduct the amount abOv0...... 44,416 80
Ordinary expe's since July 10, '56 $60,067 IL
This covers a period Of about one year and
half; making the ordinary county expenditures
per year about $4,000. BY reference to our
former article, it will be seen that our estimate
Of expenditures per annum is $37 400, being
So, 600 less than those OF the last year. The
loss of the entire property tax of 1856, was
amongst the causes which produced the great
depreciation of the county scrip, The conse
quence of which has been that the cost to the
county of rebuilding and furnishing the Court
House, and also of every other class of expenses
excepting the salaries and fees Of officers, has
been greatly augmented. 1t is safe to say that
had the county had the cash to pay, instead of
$1O4, 900, the sum of $65,O00 would have COW
cred every expense.
If 1t is desirable to devise some plan to ex-
tinguish the present debt, it may be assumed
as self evident proposition, that the annual
revenue must be sufficient to pay-lst the ordi-
nary annual expenses of the county govern
ment-2d the interest annually accruing upon
the outstanding debt-and after meeting these
expenses, there must be, surplus of some
amount to apply as sinking fund towards the
payment of the principal debt.
In considering the ways and means by which
to raise such an amount, and the best manner
in which to apply it, in order to discharge the
debt in the shortest time, two plans present
themselves, and to put in operation either of
them resort must be had TO legislative action.
The statutes Of the last two or three sessions,
bear abundant evidence that many of the coun-
ties are troubled with the same disease which
afiicts the body polite of Nevada, viz, deple-
ted treasury and q plethoric debt. To restore
q more healthy action, some have resorted to
the funding system with increased taxation, and
others to increased taxation without the fund
ing system, but no financial ingenuity has dis
covered plan which promises to work of the
radical cause of the disease, without increased
taxation, saving and excepting the Sangrado
treatment Of reputation.
| At the same time that we are disposed to re-
pei resort to the plan Of funding the debt, as
ia violation Of vested rights, and as impairing
the obligation Of contracts, we can conceive of
. case where it may be excusable on the ground
which jussiles all extreme measures, that of me-
cessity. As an alternative it is better than re-
pudiation, and is admitted to be less obnoxious
even by those most largely interested as credi-
tors, and who as between two evils, would glad
ly choose the least We do not desire to init
mate that the condition Of our affairs are 80
bad as to present the question of funding as the
alternative of reputation. We propose only
to say that II affords the easiest means of pay
meat to the tax payers, and all objections being
removed the NEST desirable, as we shall endea-
vor to show. MA
What length Of time at given rate Of taxa
tien, will it require to liquidate the present
debt, on the basis Of the estimates before given
under funding system? And what length Of
time at the same given rate of taxation, on the
same estimates will it require, if instead of
the funding system, We raise by special taxes
sufficient money for current expenses. otber