The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1869-09-24
COUNTY DEBT.

1uetC - no QVeSItO0 OF WOI0 ImpOIW0Ce
to Deer Lodge county than the devisinE Of
ways and means whereby our county Treas
ury may be speedily placed upon healthy
lasis. The debt of the county win foot up
in round numbers, tso, 900, Of which 4l5. 600
is in The seapc of bonds, bearing Is per cent
per annum, payable semi. annually, and the
balance In the shape Of Outstanding warrants
bearing 10 per cent The county revenues
for the next tsRs years will not probably *.
coed $e5, 900 per annum, unless there should
be an increase of taxation, which the people
cannot well bear and viii not quietly submit
to. The annually accruing interest on the
county debt amounts to about q, 900, which
represents the rate at which the Indebted.
ness will annually increase hereafter, even
If prudence and economy In The admins
trstion Of the county affairs, shall prevent
any farther increase In the principal Of the
debt It IL true tLss . large increase In the
amount of taxable property IN the county
would change these figures, and q The same
time diminish tho weight Of taxation. Such
increase, however, cannot Be reasonably o.
pected soon, Is the present bsd seasoa win
exert . depressing influence upon the yslu-
alton Of property for at least > year % come.
The market value Of our county scrip b now
shout twenty. 1--we cents on the dollar, with
no probability Of : speedy appreciation. It
Was ct this rate that . large portion Of our
Indebtedness was contracted. With scrip
worth twenty-five cents In the market
funded at fifteen per cent. per annu,n. 1t par
value, II will readily be seen that the county
Il actually paying on the funded postioa Of
its Indebtedness the enormous interest Of
sixty per cent per annum, or i've pr cent.
per month on the amount Of moncy actually
expended in its purchase, while We ass pay
Ing At the rate Of forty Per cent % the
amount of money invested In county scrip
ut its market value ADJ 8.aaf- sClsl 5.Gu4ta@l
The funding oct passed. tvoa ycsss ago
has not only failed to furnish any 1elisf,
but has actually increased our burdens by
causing tho county to pay . larger interest
than before its passage on that portion Of
the debt that was funded under Il rE5
We suggest e tho only measure that can
afford relief, the passage Of law ~ which,
the county can have an opportunity 70 par-
chase IL Indebtedness q it, market value,
giving the people the same chance y pur-
chase the scrip and bonds outstsnding, % h
possessed by every citises Of tho Territory.
Let tho County Commissioners be aushoei1ed
to ses apart. say thirty o. forty per cent Of
tho current revenues, = sinking fund.
When sufficient amount has accumuisaed
10 the Treasury, let the Comnissioness ID.
vcrtisc for bids for the money IN the Trsas.
ury-thc person offering 70 surrender the
largest amount Of scrip or onds for ~ least
money, TO taks t. Tho cou,petition between
the holdcfsof government indebtedness win
thus enable the county % purchase y The
,value q which II passes csrrent. I.
BY pursuing this coursc, n the fraos of
two years We will le able 10 work out Of
debt. provided these shall he aacosion Of The
Legislature this winter, % thst 10 en- -
curr the passage OF such law. We meke
these suggestions for the purpose Of calling
out discussion, q any one canfugye4 NJ.
ter plan. The TeGsasks<thas wc hero make
ase applicable p nsaely every coaaAy lnthe
Territory, ard thesp = - i!peeaays pcess-
sjfys shai snseahiag SiosA y - - gSace
the various counties upoa 9 edlyest - Z. g
;istseegl eo,npmtCallR = tn afuttl50 : .shiuS
mains % seriously ,dcpgeetated. +, h, l,,rss
q ia saE43AA