Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1876-02-19
THE BIG STEAL.

up, says we, nave ctiieu TUG CORRECTNESS OF
Judge Rives' decision into question.
Articles appearing in the RECORD will
falsify such an assertion. He refers to
the late alleged decision of Judge
Rives. Now We have bsen under the
for several days past that
decision had been rendered in the case
and that there was not SO much as a
shadow of doubt on that score. When
in open Court Judge renders decision
he is supposed to have rendered one, and
we believe it to be fact that Judge
Rives did render decision in the case
wherein the bondholders were plaintiff
and Miles CULLEN defendant. This is on
a par with other allegations of the intiu.
entail Journal on the same subject. He
proceeds to enlighten the public on mat
tiers wherein the public is better posted
than he assumes to be. This bond bust.
ness in the first place was Q big steal,
and was in keeping with the jobs that
have been put up on the county from
time to time. As it was stolen legally
We suppose the people will have to stand
it, unless some way out of the difficulty
presents itself that does not yet appear.
The scrip which these bonds repre-
sent was bought for from 40 to As
cents on the dollar, on which invest
ment the bondholders receive in
terst at the rate of % per cent.
per annum. Inasmuch as the debt
Of the county vas funded without the
consent of the people of the county, any
legal way out of the difficulty will be ac-
ceptable to tax. payers. We venture the
assertion that had the debt never been
funded the sum of $4,000, which the
bond holders are now so anxious to
clutch, would pay off over $50, 900 of the
"bg STEAL" and in few years the
county would be out of debt by paying
something near what right and justice
demands. In order that the Journal
man may not get off wrong again and
place US in false light before the public
ere he jumps to another conclusion
we will again give the substance of criti-
cism which he distorts into rejecting on
Judge Rives' alleged decision, which
is this: We believe the Judge rendered
his decision strictly in accordance with
the law governing the case. for which he
| is to be commended rather than criticised.
At the same time it is to be greatly de.
| plored that the decision could not hav Q
been otherwise. Law not infrequently
serves the purposes of the evil disposed
even better than those it was originally
designed to protect, yet we suppose it
must be obeyed, ''cinche" though it
be in the hands of the "bloated bond
holder" No one could justly accuse us
OF oyerstepping the bounds of proprietJ
in stating the effect decision would
have. Some however are gifted with
the faculty of distorting such state
ments into reflection on the motives
which impelled Judge Rives to rende
\ a decision adverse to the interests
of the county and in favor OF the bond
holders. The expense of running tn,
county now is about 1000 Per month
most Of which is paid out OF the Genera
Fund. According to the 21st section Of
the act funding the Indebtedness of Lin
colo County sufficient amount to defra,
the current expenses of the county TO
six months must be left in the treasury
Now, assuming that the greater portion
of this amount must come from the Gen
eral Fund, the bondholder has but littl
to expect from that direction, for ther
has not been and is not now enough i
that fund to run the county for 81
months. The Bondholders' Journal
seems to think the people should esteer
it pleasure to pay interest on thes
bonds, and that we should consider oul
selves favored people, when at the en-
of ten years their face will have been pal
in interest and the debt still hangin
over US. This funding bill was pu
through the Legislature steelthly, for
, could not have been put through othel
wise. 1t is in the interest of the bono
holder all through, and should be fougt
J in every possible way. The BOND
holders Journal" says the county wi
, be better off by the payment of this il
terest how, it does not venture to el
plain. The county never stood in nee
3 of this funding bill, but simply sinkir
, fund, and by four or five such paymen
ss the bill has saddled upon US the del
4 of the county would be about wiped o,
t allowing that scrip was taken up
! the county at the lowest figure offered
means of scaled proposals. As it is,
the end of ten yenrs the county will ha'
q paid the amount Of the debt in intere
1.-THE bondholders will have received Il
+ amount of their investment back in TO-
n years) and the principal will still
b unpaid.
. The GARND RAcE.-We received u
| r H.