The Montana post. [volume] (Virginia City, Montana Territory [i.e. Mont.]) 1864-1869, 1868-11-27
THE DEBT OF MONTANA

--N''- "NS louE ears Olu Is IL not al
most incredible that it's Legislature
should bave found it necessary TO pro-
vide for the funding of its Indebtedness
tn the amount of sixty thousand dollars,
at an interest of fifteen per cent. per an
mum, on FIVE years credit, and to pledge
the Territorial faith for payment, when
the Territory was but three and a half
years of age, and TO make this semi-an-
nual interest payable in New York This
is the record on the statute book. Into
the record of what other community. on
the face of the earth, blessed with peace
shall We look for like exhibition Of
extravaganza and recklessnessg A little
further along in the same volume of
statutes. we find law providing tor the
funding of the. warrants issued by the
counties of the Territory, on seven years
credit. at semi-annual interest of fif-
teen per cent. Here then is Legisla-
tive enactment, placing the entire Gebt
of the Territory, both for Territorial and
county purposes, upon long credit and
under heavy interest.
Aside from the payment of extra com
pensation To- inefficient Legislators. at
Twelve dollars per day, and extra fees
other office holders, created by the Leg
islature. how has the Territory been
benefited 10y this enormous expendi-
turcy Ten Thousand dollars, at the ut
most. would pay for every bridge, road,
ferry, and public building, that is not
monOpOlized by private charter, and ev-
cry appropriation made for any purpose
Ot a public character, except payment of
office holders. Yet here, at the age of
four years, we are involved IN a debt
which. In the opinion of our Legislators,
cannot be- paid in less than five or seven
years, on an interest of fifteen per cent.
payable semi-annually. This is benef-
cial Legislation with a vengence Do
people wonder that our Territory has
lost population Are they surprised
that il is descreJited abroadz Are they
at a loss to account for the fact that cur
bonds, even al this interest and rate of
payment, cannoS find a market at seven
ty- FIVE per cent on the principals Is it
inexplicable, that foreign capitalists pro-
nounce us a band of swindlers and ad-
venturers, who care less tor the Terrific
~ than for our own pockets! In short,
ought anything that is said to the dis
credit of our Territory, or its people, in
the light of these facts, to create any as
constituent or justify any complaint!
The thing was never known before IL
all history, when new country became
so hoPelessly involved, with SO little TO
show for il. The argument on the lips
of every new settler (and il is an unan-
sweTable one,) is, that he will be taxed
his proportion to pay this Indebtedness
and interest, and the other expenses of
the Territory, year by year, until the
debt is paid. This funding operation
only increases thu debt, together with
the burthen of taxation, while il delays
the evil day when it must at last tall
with crushing, bligEting power, upon all
the interests of the Territory. Ii such
debt can be created in tour years out of
nothing, with nothing to show tor it.
with not enough of improvement out of
il to pay the interest upon it, what will
il be under continuance of the same
policy for four years longerg
These are serious considerations, which
should be carefully pondered by every
tax payer in Montana. We have not
the statistics before US to show how
heavily this burden must fall upon the
people, but it will be enormous. With
the heavy requirements of the Internal
Revenue tax, the burdensome prices for
every article of livelihood, it must in
crease instead of diminish the expenses
of living. and pile up discoursgements
in the way of our laboring communi~
ties, until they amount to a positive
command 10 all the industrial classes To
seek a more congenial home in some
other country. Let the farmer, the
miner, the mechanic, the merchant and
the day laborer bring this matter home
to his own experience. And when the
Collector comes with his tax bill let
L. =
this money! Is il for roads does he
not pay toll over all OF them? Is il for
any public convenience whereby he is
benefited to the value of half a dollurI
Is IL for schools, or for a school system
Is il for public buildings What is it
forg Twenty-three thousand dollars is
for extra compensation to Legislators
Half as much more TO supply them with
servants. As much more for Tax Col
lectors, Assessors, and other officers.
which they have created under enors
nous pay, without regard to economy or
prosperity. Open then the statutes and
refer to the Revenue and License Law,
and learn that a large portion of the
Revenue is derived from persons who
live elsewhere, and that without this
aid the debt would be feartully in
creased. There is not enough under
the heaviest, most indiscriminate and
taxation we ever saw to pay
the officials of the Territory, TO say moth |
ing of improvements for public conven-
ience The debt, under all these advan-
tages is yearly accumulating. Well |
may you ask, what becomes of the peo>
pies money! Why should / submit to |
this imposition TO pay parcel of inefti-
cient office-holders, who are doing me
harm continually
Quartz mining, agriculture, and in |
fact, every other pursuit, must suffer |
under a system of government I
which works so oppressively, with no
promise of speedy relief, the whole drift |
of which tends 10 prove that that those
entrusted 18th il, having no abiding in
terests in the Territory, are using 1t TO
promote their own ACKNOWLEDGEMENT, /
nrithr hr11f rerard To its nrnsr,eriIY or the |