The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1870-07-02

of Trustees of Hamilton are now engaged
in canvassing the merits of the PROPOSE
Hon TO fund the debt of the city. A
doubt has been raised as to the power OF
the Board to do this, and the question
has been submitted to legal examination.
We think that any reasonable construc-
ton placed upon the authority given to
the Board by the Charter, will show that
they ave power 10 fund the debt to the
extent of at least $40, 900. The outstand-
ing liabilities are now in the vicinity OF
$40. OO0-they were S2S, 900 at the retire
ment of thesold Board. The limit of in
debtedness the city can incur is 800 900.
There are from S. 900 to $1,000 more
outstanding liabilities than the limit.
Should $50, 900 be funded, a question
would arise as to the validity of the sur
plus floating scrip. But we think some
arrangement could be made by which the
entire amount could be embraced In
$50, 900 worth of bonds. The creditors
would doubtless be glad to divide the
surplus among their claims pro rata SO
as TO secure a~more valuable and negoti-
able character of paper. But even il an
arrangement of this kind could not be
effected, has the debt, if we consider the
assets of the city. surpassed the limit
placed by law? The City Hall is GER
tainly worth $40. 900, and the fire appar-
ati would swell this sum to SIS, 600 or
SIS, 900. This consideration of the
financial status Of the city would leave
a margin of from five to eight thousand
dollars TO run upon. We all knowthat the
constitutional limit Of the debt Of Cali
fornia would have been for many years
a dead and violated letter, if strict con-
struction had prevailed. The $500, 900
margin from the first year of State Gov
eminent never was more than q small
moiety of the liability Of the common
wealth. Yet it was all funded, and a
number Of clear cases OF fraudulent IS
sues Of warrants were finally included,
because they had got into the hands of
innocent parties. In our case, no such
objections can be raised. The Board of
Trustees have power to regulate the mu-
nicipal finances, and TO adopt such mea-
sures as may be considered necessary to
the financial welfare Of the cily. Fund
ing the debt is one of imperative neces-
sity. II II be not done speedily we shall
SOC be paying three or four prices for
everything We require in a corporate ca
pacity. Z. S.-Since the above was
written, we have heard that the PROPOSE
ton to fund the debt is impracticable for
other than legal reasons-the principal
of which is, that no purchaser can be
found for the bonds, and that the issued
scrip would still hold in its order, as
against the money in the general fund.
The creditors of the city-that Is 10 say,
some five parties. who hold all but two
or three thousand dollars of the scrip
outstanding-haye consented 10 an agree-
ment by which the value of the scrip will
be enhanced, and the current expenses
Of he municipal government be mate
rally reduced. The creditors agree that
the Board may set aside fifty per cent.
of receipts from licenses aud fines, and
% per cent of taxes on real and personal
property, in a fund for the payment of
salaries and contingent expenses-the
balance Of the money to go TO payment
of the debt; provided that salaries and
expenses be so reduced that said fund
shall pay the remaining expenses, and
the further issue of scrip be stopped. ex-
cept in extreme cases. On the basis
of this agreement, IL is proposed to make
an actual reduction on the present sala-
ries of S675 per month, as follows;
Discharge l policeman &. . ............... $3.50
Abolish the Office Of street Commissioner. q. IG0
Also the Tailor and Ianitor. ................ 100
Place the twn policemen at a salary OF SIS
each, now $3.50 in scrip. ............. 100
Reduce the Marshal, Is
" Chief Engineer. rs
treasurer. -
CITY Attorney .
Oty Clefk. 20
Total reduction on salaries. s675
The gross AMOUNT of salaries at pres
ent is 81, $50. II is further proposed to
give the Assessor $500 for his labor, in
stead OF 5000 per annum. The streets
will, under the above arrangement, be
placed in the sole care Of the City Mar
shal. II this plan be carried out the city
officers will reeeiye their pay in cash
from the general fund, and the accumu-
lation of debt. in the shape Of outstand-
ing scrip, with only q nominal value, be
stopped. IL is certain that something
must be done quickly, or the city will be-
come irretrievably ~insolvent, and until
the liabilities are placed In a manageable
condition, any step towards disineor-
poration would prove futile. The next
meeting Of the Board will probably be
the most important and interesting one
yet held.
The Can OF STATE.-Dimock & Mills
are making good Roadway with the Car
of State. 1t is erected on a fine wagon
n the interior has the resemblance of
a comfortable pleasure yacht. The car
is being covered with a cloth roofing.
rising to a central point. and spreading
TO the caves with the graceful curves of
the oriental style. A dais is placed in
the center for the Goddess of Liberty,
and a seat runs all around the body of
the car for the representative children.
This elegant vehicle will form the feature
OF the procession. Messrs. Dimock
d Mills deserve great credit for their
pains and iberality in getting up this
graceful feature of our celebration.
IMPORTANT NoTIcE.-The Ladies'
Fourth of July Committee are DESTROYS
that the children, with their parents, who
deslre to be selected to ride in the pro-
cesslon in the Car of State, shall meet at
,he hamilton schoolho Use this (Satur-
nay afternoon at 2 o'clock. 1t is i'm
Portant that both the committee and the
children should pay punctual attend
ance, as This il the last meeting that will
&c held tor the purpose Of making salts
factory selections.
srRuoK IT RIcH.-On Thursday, a
very rich and promising vein Of ore was
struck in the South Aurora, near the
nu'umn pit. II has every appearance
on p~.rmanency, although up to the pres
T. I'M 1t has not been sufficiently ex-
doubt. "' 'a'' ''Sonu
~, ron Elr'-Hatch & K~iplinger's stage
o.cloa ,eave Barney & Co.'S store, at 8
yer Pal ms morning, for Patterson, Sill