The Daily state register. [volume] (Carson City, Nev.) 1870-1872, 1871-01-31
OUR STATE FINANCES.

remarks upon Senator Hazlett's
Funding Bill, you say: "The Sen
ate is fortunate in possessing
member of the financial ability of |
DIR. Hazlett." think tho people of |
the State will say amen to this fact |
if such il prove. Since the inaugur-
alton of our State Government there
has not been exhibited on the part of
its officials any financial ability
whatever but on the contrary, a
reckless and inconsiderate manage
ment of all our State offices.
RESOURCES OF THE STATE.
Wehave been paying heavy rates of
interest on bonds, and from thirty to
sixty per cent. on most of our ex-
penditures by way of discount on
Controllers warrants, and yet with
all these drawbacks there is not to-
day, a State in the Union whose
bonds for its Indebtedness should be
worth more in the market than those
of the State of Nevada. Should the
claim against the General Govern
ment be paid, as it undoubtedly will
be, our liabilities over our resources
do not exceed half million dollars.
Our present valuation of twenty
three millions ought, and might be
increased to twenty-seven millions
by State equalization. A levy of
81 25upon this amount, together with
other resources of revenue, should
pay all our necessary expenditures
and the entire debt in less than five
years. To accomplish this desired
end, we must so manage our finances
that Controllers warrants NAV
equal cash. Far better to pay 10
per cent. for money than 40 per cent.
extra for supplies. We are growing
in wealth and resources. As the ia
cilities for reducing our ores in
crease, the expense of reduction is
lessened and largely increased de-
velopments must follow. We
need not resort to the expedient,
recommended by our late Governor,
of cutting down the pay of mem
bers of the Legislature" to save the
State from bankruptcy. We want
economy of expenditure-cash to
meet payments and iudicious man
agement of the State, and our present
debt is a myth we can wipe it out so
easily. 1t does not follow that be-
cause we have once had robber to
conduct our finances in the Treasury
Department, and that those whose
duty it was TO look after that de-
faulting officer found stock specula-
tions and private business alb sorbing
so much of their time they could not
or did not fulfill their duties a. State
officers, that such action will con-
tinue. Bad management is the ex-
perience Of all new States, and ii is
not reasonable to suppose that ours
should be an exception.
WHAT WE HAVE DONE.
What have we done in the six
years of our existence as State?
Assuming aTerritorial indebtedness
which now amounts to $3.50, 900, we
have suffered defalcation of S1O6,-
600, rebuilt our State Prison which
was burned, built our Orphan Asy.
lum and nearly completed our State
Capitol building, and our whole in.
debtedness now foots up little oveI
$3.50, 900. OF this we have valid
demand against the General Gov.
ernment for S150,000. Shall we bt
told that State possessing such in
exhaustible resources of mineral
wealth to say nothing of our exten
sive agricultural and grazing facili
ties, with an energetic and go-ahead
population-a property valuation o.
over S23 ,000, 900, with fair prospec,
of its being doubled in the mex
three years, cannot pay half q mil
lion dollars of Indebtedness? or thai
advantage would be taken of con
stitutional limit to repudiate any
portion of our Indebtedness? The
idea is preposterous.
WHAT WE CAN DO.
We are told that money in England
seeks investment there at less than
per cent, and that hundreds of mil
lions are lying idle, that n proper
action on the part of our miner,
here will induce the investment O.
such capital. Now can it be posibl.
that the bonds of the State of Ne
vada for the small amount of her in
debtedness will not find ready