Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1865-06-03
so1,n1ERs, BOUNTY BILL.

SOLDIERS BOUNTY BILL.
The last Legislature passed law giving
g.. md men an extra monthly a.
,owance. This Bill was hardly more tnan
a noIaphrasing re-enactment OF . Law
800 bv the Territorial Legislature OF
lss4, It provided, as did its original, for
a tax to pay the interest on 100000
,,o-,b of bonds, which were to be dispos-
al of to raise the desired fund. The Ter
r;,orial officers, for reasons unknown to
us, did not procure the engraving Of the
bonds, directed to be issued and offered
for sale for the purpose named. But a
considerable amount was realized to the
Treasury from the tax imposed by the
Territorial law. The following State law
also provided for tax for the redemption
Of the bonds again directed to be placed
in market, for the realizing Of Soldiers
Fund" This tar, we understand, the
Supreme Court has decided to be in con-
hict with the State Constitution. We
have not had an opportunity Of reading
the decision, but we presume it is founded
on Section Of Article TX Of the State
organic law, and Section "a Of the
Schedule. The latter part Of the section,
the last sentence, was believed by the
LegislAture-and, we think reasonably, to
authorize or permit the levying of tax for
a Soldiers Fund the FIRST section Of the
Territorial, as well as the State. Bounty
Law, reciting the object Of the establish
ment of the fund.-" TO repel invasion,
suppress instruction" ete.,-in evidence
Of the conviction Of the members Of the
two successive Legislatures, as to the
character and special propriesy Of the ap-
preparation:
SEC. 3. For the purpose Of enabling the
State to transact its business upon cash
basis, from its organization, the State may
contract public debts but such debts shall
never, in the aggregate, exclusive Of interest,
exceed the sum Of three hundred thousand
dollars, except for tho purpose OF defraying
extraordinary expenses a. hereinafter men
toned. Every such debt shall be authorized
by law for some purpose or purposes, TO be
distinctly specified therein; and every such
law shall provide for levying an annual tax
sufficient to pay the interest semi-annuAlly,
and the principal within twenty years from
the passage Of such Law, and shall specially
appropriate the proceeds Of said taxes to the
payment Of said principal and interest; and
such appropriation shah not be repealed, nor
the taxes postponed or diminished until the
principal and interest Of said debts shall have
been wholly paid. Every contract Of indebt-
edness entered into or assumed BY or on be-
half of the State, when all its debts and
liabilities amount to said sum before men
toned, shall be void and Of no effect, except
in cases of money 6orTotced to TepeI inyosios,
or suppress ias,ITection, defend the State in
time of trdy, or, If hoStiHties Be threatened,
proriSs for tie ps6kc defsnse. -r... E
Section "a, of the Schedule, reads:
SEC. "a. For the first three years after the
adoption Of this Constitution, the Legislature
shall not levy tax for State purposes ex-
eeeding one per cent. per annum on the tax
able property in the State; Prortded, the
Legislature may levy special tax, not ex-
ceeding one-fourth Of one per cent. per an
mum, which shall be appropriated to the pay
ment OF the Indebtedness Of the Territory OF
Nevada, assumed by the State Of Nevada,
and for that purpose only, until all OF said
Indebtedness is paid.
A large number Of the leading lawyers
in this State were directly consulted on
this very section, as possibly precluding
the levy Of the tax but the opinion, so
far as obtained, was unanimous in appro-
val of the tax, under the last sentence Of
Sec. s Article N. The members Of the
Legislature did all in their power to pro-
vide fund for our volunteers; and il they
have to wait for their extra pay until the
State Indebtedness and current expenses
are so reduced as.to admit Of . surplus to
be audited to their favor, out Of the reve-
nue. derived from the one and one-fourth
per cent. tax, they viii recollect that the
Constitution, and not the statute law
makers, are responsible for the delay. The
Legislature did the very best thing it was
possible for the members to do, under the
circumstance Of uncertainty concerning
the power to levy the tax. II the tax
could be levied the bonds would sell for .
higher figure than they otherwise would.
The bonds are held to be good, by the
Supreme Court, as evidences Of indebted
ness, and they will no doubt be market
able now at from 60 to 10 cents on the
dollar. The next Legislature can extend
the times Of redemption, on such terms as
will enhance the present value Of the bonds
unsold; and very likely there will be .
surplus from the regular revenue Of the
State that may be in part transferred to
the Soldiers Fund. --..-..