The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1877-09-01
STATE FINANCES.

Eureka Sentinel Of August Goth,
written by the editor of that paper.
gentleman who has seen long service
in the Legislature and is thoroughly &C.
quainted with the affairs of Nevada, both
financially and otherwise. We quote:
The last official count of the Board of
Examiners shows money and cash
vouchers in the State Treasury as fol-
lows: Gold, 1926. 1878 .O3; currency, S14,-
974 o.; State bonds. $104 900; California
State bonds, $780, 900; United States
bonds. S410.5O0; grand total, $685..
352.05. And il is grand total when we
consider that the bonded debt OF the
State, which is the extent OF our liabili-
ties. is only about $500. 900, less than
5000, 900 of which falls due in 1882,
and the remainder in 1887. Indeed these
figures are considerably over the mark.
If our memory serves us, the financial
officers OF the State, having more money
than they know what to do with, have
already taken up in advance of their
maturity. and at premium. something
over 100000 Of our bonds in order to
stop the interest thereon. We are not
finding fault with the Treasurer and
Controller for this, because statute Of
1875 authorized them to do so, and the
measure saved money to the State, but
We do object to the rushing policy which
provides for the payment of our total
outstanding debt ten years in advance of
its maturity. At the present rate Of tax
alton, with an undiminished value OF
taxable property, (and there is no reason
to presume that there will be any falling
off in this regard, on the contrary there
should be q material increase), the
revenues Of this and next year will place
approximately $1,000, 900 of assets in the
State Treasury. This is simply ridicu-
lous, in view of the fact, which we
repeat, that the great bulk of our
bonded debt does not mature for ten
years. We rail at the intlationists,
greenbaok theorists and other financial
nincompoops of the East, with reference
to the question of national finance. while
we are unable 10 regulate our own little
home debt in reasonable and intelligent
manner. We start out first by assuming
Territorial indebtedness of $500, 300,
then we erect capitol buildings, peni-
tentiaries, universities, orphan homes.
etc.. all OF which are ample for all prac-
ticable purposes for generation to
come. Next we cast about and find men
who loan us the required funds TO cover
the cost of these permanent improve
ments at q reasonable rate OF interest,
running a term Of fifteen years. This is
all right, and not bad as matter of
State policy. Butat this point We begin
to make idiots OF ourselves. Instead of
going to work in sensible way to estab.
lish reasonable sinking fund for the
redemption of our promises to pay at the
expiration of fifteen years, We rush in
and tax ourselves to the last dime to &C.
cumulate the whole amount in five years.
We endure all the privations inseparable
from life in the wilderness, develop the
country, blaze trails, construct roads,
form counties. erect State, and then,
to show our unapproachable magnani.
nifty, we generously tax ourselves and
settle oil the bills. regardless of the fact
that those who come after US will be bet
ter prepared to meet and assume fair
share of these burdens. But to return
to some other questions ofState policy.
Prior to 1875 the State rate of taxation
was $1.25 on each one hundred dollars'
valuation Of property. By dint Of the
hardest kind of work the writer OF this
article at the session of rs got bill
through reducing the rate to 30 cents on
the one hundred dollars, thus saving the
taxpayers of the State to date not ess
than $500. 900. We made another at
tempt last winter to still further reduce
the rate to 65 cents, but inasmuch as
demagogues and financial luna.ics domi.
mated that Legislature, the effort failed.
That failure is costing the taxpayers of
the Stats $3.50, 900 year, OF which un-
necessary sum Eureka county's proper
ton is in the neighborhood of $4,000.
That is to say, that we are sending to
Carson annually $l5, 900 that we might
just as well as not have kept in our
pockets. What is true of Eureka county
is equally true of all other counties in
the State. The entire policy is idiotic
The State and county levies relatively
are wrong. We impoverish the counties
under the present state Of affairs to place
money in the vaults of the State Treas
ury. which will not be needed for ten
yerrs. White Pine, Lincoln and Nys
are tottering on the verge of bankruptcy
Neither can ever get out OF the tolls
tolls without eItraneous aid. That
assistance can only come through ra.
tlonal legislation. Had the State rate
been cut down from 80 cents to IS cents,
as was proposed, the levy in these conn
ties for local purposes could have been
correspondingly raised without incfsas.
ing in the least the burdens OF the
people. That this is the policy that
should have obtained in the Legislature,
no honest man of average intelligence
will deny, and that the people Of the
State, from one end to the other, will
next year clamor for its adoption when
they see their money uselessly boarded
in Carson, is equally certain.
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