Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-01-06

ing out their e%nriching streams IN every
direction, quicksning the currents OF the
buoyant health Of national commercs.
To-day Nevada stands upright. She
has no need OF prop or helping hand.
She walks n stalwart child beside her
sister State. keeping equal pace in the
march Of empire by tho Pacific shores.
There has been no step backward. The
sovereign favor Of the Creator, in His
manifold blessings thus displayed. de-
serves and should receive our heartfelt
thanks.
okSkRlL NANCE AND STATE DEBT.
Hero follows . detailed statement OF
the funds and securities constituting the
general and special assets OF the State
up TO December 81. lsIi:-Ed.
Assxrs.
oin 49,
Coin s.curitis. In Treasury. consist.
ing OF u. y. = fer cent. beads and
Nevada STATE bonds ......,...... ohO,om "
ro.. .s57.s,a %
-
LIABILITIES.
oatstsndlng warrants $500.
Colin. e. to'x,s =,
Currency Vz1
ota.....,..".......... .......sSDt "
The general and special liabilities OF
the State ON tho same date were rs fol-
lows:
coiu bonds Issued under the Act of
February ~. 1871, known As Ter
rttoriAl isdsb'edness ...... tssO!oO W
Coin beads i.susd under the Att OF
February IL, 1911. known a. state
Indebtedness. s.s'.s.ss..'''' S"'o""
Total debt..".......,. . ...... s1oNvo W
Upon the face OF the foregoing state
ment there would appear to be a large
surplus Of assets over liabilities. In
fact there is. But Of the assets men,
toned there is a large portion which are
such for a special purpose only. Some
are devoted by constitutional provision
to special purposes; others are pledged
by legislative enactment 10 similar ends.
In the first class are included the Gen
oral School. State School and State Uni
vsrsity Funds; in the second. the State
and Territorial Interest and Sinking
Funds. Upon several Of the other
funds there are specific liens. IN the ma
turs Of outstanding warrants. The
| funds in several instances consist OF tho
residue Of appropriations. The general
assets OF the State consist OF the Gen.
eral Fund, which may be used in any
manner, and Is entirely subject 10 legis-
latiys disbursement aud control. Its
amount, deducting outstanding war
rants. is S304. sos 10. This sum Is APP
plieable to the reduction OF the State
debt. There are other assets created for
that purpose which are also proper to
be deducted from the general liabilities.
They amount to si7l.s35 6S. Sub
tracing this sum $500, 000-the State
debt-we have for remainder the net
indebtedness, which is SIS, 16I -. II,
however. the State bonds in the School
Fund. sl0i. 900 in amount, are q proper
subject for reduction. in that case the
debt will stand at ISL. lGi 81. Upon
this point there is n difference OF opin-
ion. The State occupies the double po-
sition OF debtor and creditor--she can-
not diyest herself OF either character.
The fund il i~nalienable. irrsducible and
incapable Of diversion TO other ends.
The State owes the money TO her most
favored creditor. The bonds bear n
h;,L a.. ~ ;ntsreat II Ia as we'll IL
no, hs,,ar Thai The State should O "a
tinue to pay that interest for the benefit
OF education than to pay the bonds and
replace them with other securities pro-
ducing a less income. Our bonds are
now quoted at an extraordinary pre-
miru In rssnons. 10 proposals re-.
saS.,. ri srrrs,do, spcb an al.
i -. IL. 90. a.m.,d.J
~ L.-.,..
'na' Va. PiVPO"ou ~. "'.h.
thheu iof a moinens, IN .hts we" VI.
AMOUNT OF sioV,Voo IN 'ni'eu States
SIX per cent bonus was PuIvnaseu. ins
annual income aectuing tnsre,foin ue,
ereases prO 'd~o .hs in'sfe,, OF . hN.
sum OF own secu'iusS' INC pies1h'
aspect OF u nnaheiai s.a,us my 10
summed up rs follows: a 'uh treasury,
a debt decreasing Win easy rsPldi'y,
school .una Of 1oo;VVv peImansny
invested anu q oniNers,.y rumo Oh Sio,-
wv. i's assured iesuI's WIN w LIS
Aoiisned credit a onsiaeraoIe reIuo-
uoh OF tns ots's 'ah hua an eai'! aa!'
eotspie's freedom rom aso..
~tshanL, fhorhhIiA hh',No,
Inc 'ouA amounts VI ieAi anu per
sonar ptoPsr'y a 1855 ,o' 'a,a'iou ua
ing 'he years Io'S,h rssPssn ssy'
were 'ne isos'ss " IN cao 100 sSo,ooo,-
QUO -f,lh s-u' so,. aoc os ns
u q yea 4. ~.
me 9sn'. I ,s9S sno !. ~ ss ~
aSo oo m. M,.;n,,;on :, ,s.hi.
wv s-t nm :. ..,;s,ss,or;,s
p,v =, 49, Imanc oh
eAPn.. hsTs.a. ~. ~, Z, !
ao,.hs~n 49, - sorn,;.. 5,r;n, ,h. a..
- 49,. L. w.,s .mnlv
a., ~ 80, o., a. ssd,.,;an
Ths ,srsn,.s derived from ,a,ss levied
apon reai and personal property for
80. - Ir-;,n a..