Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1873-09-27

Duuu lnlct, III SO,VuV per ulilt, 1-V,OOV
The Coal Company's works at the
mine, and wharves, works, steam
ers. 100000
Present assessment. ............ 100000
Add thereto for material increase Ill
two Years. 100000
Total taxable wealth. ......... So, 100000
This estimate does not include the
10000 acres of unSurveyed n. L. X.
II. lands whicl, may be taxable now,
and certainly will become taxable us
fast as surveyed.
A county tax Of eight mills on the
above assessment will givr....... S24 900
The revenue from licenses and fines
may be safely put at. ........... 5000
1t was Sj,3S6 90 last year. Total. $4,000
We thus have $4,000 per annum
available county revenue. During
the last six wears the county expenses,
Including many road and bridge APP
proprin,onS, and not Il few wastrtul
and useless expenditures, averaged
S1.233 per annum, not including of
course, regular school or road taxes.
Allowing s. 600 per annum for county
expenses, and $1,000 for interest on
bonds. and there remains Il clear sur
plus of $4,000 per annum available as
u sinking fund to pay of the debt or
for any other object. y tax of six
mills would yield sufficient to pay i'll
county expenses and interest ON the
bonds and after the first few years
afford handsome surplus besides.
Yet our county tax during the last
three wears has been seven mills.
Thus in consequence OF the great in
crease Of taxable wealth by the build
ing of these railroads and develop
mrnt of the coal mines, we can even
reduce our rate of tax and still meet
all expenses and pay interest Oh the
bonds. The county tax on new prop
"rtv of itself will nearly or quite pay
the interest on the bonds. Our taxes
IN the aggregate are now too heavy
They arc ampl V sufficient to do all VIZ
need if they were only property up.
piled. We are now paying four mills
Territorial and four mills road tax.
1t shall be the business of this com
mlttcc. should You vote in favor Of
this most important measure. to in
ducc the present Legislature to reduce
the Territorial and road tax two mills
each, thereby reducing our taxes four
mills.
Most of the above estimates and
arguments are based upon the propo-
sitions of the Olympia Railway and
Mining Company. This committc
endorses fully that offer, and urges
the people to accept it promptly and
nnhesItatingly. 1t is the only offer
we have or are likely to have. 1t is
that or nothing, in all probability.
But, however, the Committee and the
County Commissioners have not
deemed it proper to restrict the PEG.
ple of this county to any one PROPOSE
ton. The first necessity is to throw
off the restrictions imposed by the
organic act, and to enable our county
ITO make use of her own resources to
advance her interests as she deems
hest. We simply say to Congress,
'"untie our hands" The proposition
submitted to your suil'ragcs by the
County Commissioners cmbodies moth.
ing more than this. If approved by
Congress, it gives the Commissioners
ample power but limited discretion.
Under it they may accept the offer of
the Olympia Railway and mining Co.,
or make better terms if possible; or
strike a better bargain with whom.
ever may offer it, or reject the whole
thing, as may prove best. But all
they do or can do is under the whole.
some restrictions and safeguards that
the county pays nothing until after
the road is done: that the bonded
debt cannot exceed a limited amount
nor reasonable interest, and that
ample security be given to insure the
maintenance Of the road and the per-
Torrance of the contract.
One other thing cannot be too early
or too strongly urged. We should
how estimate and provide for the ex.
tingnishment of the debt in due time.
Every generation should bear its own
burdens. The same act that creates
the debt should provide means for it's
payment. Our resources are ample.
4 sinking fund Of $4,000 per annum
set apart and invested at 10 per cent.
will extinguish the whole debt in %
years. 0ne-half mill of our tax set
apart in like manner will wipe out the
debt in 81 wears. Or if five mills tax
be devoted to paying interest and
principal. it will clear off both in Is
years. These estimates assume that
the taxable prnnerty of the ..onntu