Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1876-05-18
THE REMEDY.

As the Hon. Supreme Count OF this
State has determined the test Gaze as to
the validity and construction of the
Funding Act of 1873 in favor OF the
bondholders it will be well for the tax
payers of this county TO consider in what
quarter and manner they may obtain
relief There is one thing very certain,
that the immense load OF debt under
which this county labors is fairly de-
stroying the usefulness AMI efficiency Of
the county government. There Is on
other fact which is equally patent, and
that is that marked revival in the BUSH
moss aud mining matters of the county
cannot reasonably be anticipated to take
place for some months. That such re-
vival will occur is our firm and earnest
conviction. Its advent. however. cannot
We think be expected until explorations
beneath the water level show the valu-
able nature OF the deposits in the Ray
mond & Ely and Meadow Valley mines,
which we believe will be found. When
that happy event occurs renewed activity
will at once obtain and prosperity again
be the characteristic OF this community
In the meantime our citizens must do
the best they can to tide over the interval
as easily as possible. This observation
applies as well to the county organiza.
ton as to tho individuals. That being
the case it is only fair and reasonable
that the bondholders should be asked to
bear some portion of the oneroui
burden which is pressing SO heavily upor
the citizens Of this county. If they re
fuse to do SO they certainly must expec
that the Legislature, which will certainl,
be asked, will look to protecting the PEG
pie rather than tho bondholders. Tn
Act of 1873 was passed apparently 70
the benefit of the latter; that of 1877 will
it is hoped, be for the benefit @
this community. If the bon'
holders are stubborn and refuse l.
make those reasonable and timel
concessions which the occasion demands
it is more than probable they will re
greet it. The Legislature can and at th
same time steer clear of pstitutioD'
objections provide that little or nothin
shall be paid into the General Count
Fund" and the current expenses OF ii
county be betrayed from funds bearir
other names. This will relegate Il
bondholders to the special fund know
as the Interest Fund" for the paymeI
OF interest. As that has been found II
terly insufficient for that purpose, Il
prospect would not be bright for Il
bondholders even as to the interest, So
ing nothing about the principal. !
sum up the funding act of 1873. was
laundering. i'll advised piece OF legi
lation, which the people of this coun
will in 1877 make very determined
fort TO remedy. They want to ke
faith with their creditors, but when o
class of creditors seek to gobbie all I
substance of the debtor to the detrime
OF other creditors and the ruin of the
ganizatiop Of the debtor rs q municip
ity. they must be checked. The boz
holders have rights both legal and mo
but 80 have others. II the bondholde
stand upon their bonds and will concs
nothing. then it is time to see if
power which made those bonds cam
devise some means OF relief. II may
quite joke for the bondholders for Il
community to toll and slave to pay
highest taxes known in civilized socie
but our citizens are getting very tired
it. 1t is altogether too one sided u j
for them to RELISH