Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1875-01-13

EDITOR PIocHE REcoGD:-knowing
that the columns of every local paper,
devoted as yours is. to the best interests
of the community in which it Is pub
lished, ask the privilege OF very
small space to call the attention of the
taxpayers of this county to measure
abont to be introduced by one of our
worthy Senator's in the present Legisla-
ture. On yesterday Mr.. wescoatt gave
notice in the Senate, at Carson City, that
he would introduce bill to fund the
floating debt of Lincoln county. A meas
ure of this kind interests deeply all tax
payers of this county, and their views on
the subject should be directly expressed
before such matters are pressed before o
body of men who. while they make laws
to govern us, but few of them have any
knowledge of our wishes, and a less
number any interest in what affects us.
| Il is but reasonable to suppose that any
project which concerns only this county,
and which is advocated by her represent
atives, would certainly pass both houses
and be approved by the Governor. In
respect to this inquiry, 1t cannot be de-
MED but that if scheme could be de-
vised SO as to put the financial transac-
lions of the county upon permanent
cash basis that much saving could be
derived therefrom. Two years ago TINS
was attempted by a funding bill, and
the failure has been lamentable, for now
we find "scrip" as worthless as before
and the county compelled to pay thou
sands in interest on her previous debt.
At the time the funding bill referred to
was passed, the prospect for the county
being able to keep up cash payments or,
in other words her receipts equalling her
expenditures, was by odds better than at
present. II the county could have kept
up in revenue with her expenses much
would have been saved which has been
lost, owing to her falling of in receipts
and consequent necessity Of paying out
much more for articles in scrip than
their cash value. In the year 1873 our
county scrip was at an average discount
of about thirty per cent, and during the
last year-1S74-a much more ruinous
rate OF depreciation prevailed. Articles
necessary for county use were purchased
at these damaging estimates, the seller in
every instance charging the county
prices in scrip which would enable him
to sell his scrip to various buyers who
were in the market, and thus realize his
cash value for the articles named, and
the parties who purchased this scrip have
done SO at such figures as will pay them
about five per cent. per month on
their investment, provided the county
pays the scrip within year OF eighteen
months after its issuance, which for
years past it has been able to do. Now
If Mr.. Wescoatt's bill becomes law,
the scrip spectators will not only re-
ceive their principal for the scrip they
hold, land remember the payment Of the
principal alone is all the profit they ori-
ginally expected, and certainly il is
enough, but interest at from ~ to IL
per cent. per annum on every dollar, for
which they have paid but from so to 65
cents, thus making the interest which
they received and which the county
must pay, about Is or Is per cent per
annum on the valne Of what the county
actually received and besides this, fn-
ally comes the payment of the originally
anticipated profit in the settlement Of the
bonds at par.
In the most sincere wish for the well
fare of the county. would call the
peoples as we'll as Mr.. Wescoatt's atten.
ton to the consequences of this new bill.
II the bill is for the benefit of the county,
then it will be fought BY the scripholders-
and il for the benefit of the scripholders
it is not for the county's good, for their
interests in this matter are antagonistic.
ONE OF Mr.. WEscoATT's SUPPORTERS AT
THE LATE ELECTION.