The Idaho world. [volume] (Idaho City, Idaho Territory) 1864-1918, 1870-12-08
TERRITORIAL BONDS.

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w. lsarn from the Statesman that on wed
nesday. Nov 30th, Territorial Treasurer E. =
sterling opened the bids for. the SURRENDER =
territorial bonds in accordance with ia"' AM
that the lowest bid offered was IS cen1s, WINE
tbe First National Bank of Idaho was fortunate
enough to get in about $4,000 in bonds at par
Our neighbor says that the natural CONCLUSION
to he drawn from the surrender OF ponds a.
such figures is "that Idaho bonds are mrs
elias. securities" and that the fact of the firs
National Bank, the heaviest monied INSTITUTION
in the Territory, refusing to take LESS tna1
the face of the bond" is Every fiattering u
the credit of the Territory" We are glad u
see these candid admissions, publicly made oy
journal that over four years ago exhausted
the dictionary in abusing Democratic Legs
lature for funding the Territorial debt. Inc
English language, at that time, was deficient Id
yituperative terms wherewith to aid our CO
temporary in bis denunciations OF the outrage
Gus rascality and villainy of secession Legs
lature, made up principally of unwashed rebels
from the "left wing of Pap Prices army.
The funding of the debt was denounced as a
fraud upon persons holding claims against the
Territory, as postponing the day of payment
and was characterized as one step removed
from downright Reputation. The wisdom oil
the measure has been fully demonstrated. The
L AZ M
spectators having surplus funds to invest can
not find the bonds in the market
A Democratic Legislature enacted that the
interest upon our Territorial bonds-due semi
annually-as well as the principal. should be
paid in CON- and the Territorial Treasurer, as
we are informed, has complied literally with
the law in that respect. No attempt has been
made TO act in bad faith towards the creditors
of our Territory by paying of the interest in
greenbacks, instead of in coin, as was done by
the authorities in Pennsylvania and 10 several
other Radical strongholds. With funded
debt of only about 500 900 for q young and
growing Territory like Idaho. with our mex
haustible mineral and agricultural resources as
yet but partially prospected, it is not TO be
wondered at that the evidences Of our public
should stand as first class securi.
ties so long as the Democratic party has con
trol of affairs in Idaho.
While our neighbor admits the fact OF our
bonds being first class securities. and that the
shrewdest capitalists in the Territory are un-
willing to discount one cent on their invest
ment, he appears unwilling. or at least some
what reluctant, TO make the proper deduction
a priori, or in other words 10 attribute the
gratifying effect TO the true cause. to.wit:-
Democratic agency.
Before the Legislature funded the Terrific.
risl debt. warrants OH the treasury were quob-
cd at fffy cents on the dollar Immediately
after the passage of the bill there was de-
mand for warrants, and q rise in value neces.
sarIly followed, which soon brough. them TO
par. or at least to ninety cents on the dollar,
and after their conversion into bonds par value
has been reached. The tree is known by ito
ruit- The good credit Of our Territory ia due
20 the Legislative enactments of a Democratic
body, and despite the opposition Of our politi.
,al opponent and the maledictions OF our enc.
mics. through the efforts Of the Democracy
he bonds of Idaho stand in the front rank Of
public securities.