The silver state. [volume] (Unionville, Nev.) 1870-1903, 1877-08-29
STATE FINANCES.
More Money than IL Necessary I'm
the state Treasury.


lows Gold, $226,S 79 03; currency,
Sl4,9E4 02; State bonds, $l04 ,0U0s
California State bonds, $50, 1000;
Uuited States bonds, $40. 500: grand
total, sos, 352 05. Aud it is grand
total When we consider that the boaded
debt OF the State, which is the extent of
our liabilities, Is only about SoSO 900,
less than 5000 600 of which fails due
IA 1872 and the remainder in 1887.
Indeed. these figures are considered
over the mark. If oar memory serves
as, the financial officers of the State.
having more money than they knew
what to do with, have already taken no
IN advance of their maturity, and at a
premium. something over $4,000
OF our bonds In order to stop the in.
terest thereon. We are not finding
fault with the Treasurer and Con.
trolier for this. because a statute of
1910 authorized them to do SO, aud the
measure saved money to the State bat
we do object to the rushing policy
which provides for the payment of our
total outstanding debt ten years in adj
vance OF its maturity. At the present
rate OF taxation, with an undiminished
valuation OF taxable property, (and
there Is no reason to presume that
there WILDE any falling off in this re-
gard. on the contrary there should be
material increase). the revenues of
this and next year will place approx
mately 1000 600 of assets III the State
Treasury. This is simply ridiculous,
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 lnhatlonists, greenback theorists
and other financial nincompoops of the
east. with reference to the question of
national finance, while we are unable
To regulate our own little home debt in
a reasonable and intelligent manner
We start ont first by assuming Terri
torlal Indebtedness of nearly $500 600,
then we erect capital buildings, peni-
tentiares, universities, orphan homes,
etc, all OF which are ample for ali
practical purposes for generation to
come. Next we cast about aud find
men who loan us the required funds 10
cover the cost of these permanent i'm.
provements at d reasonable rate of in
terest, running term of fifteen years.
This Is all right, and not bad as matter
of State policy But at this point We
begin to make idiots of ourselves In
stead of going to work in sensible
way to establish reasonable sinking
fund for the redemption of our prom
ises to pay at the expiration of the
tifieen years. we rnsh in and tax our
selves TO the last dime to accumulate
the whole amount in five years. We
endure all the privations inseperable
from life in the wilderness, develop
the country. blaze trails, construct
roads, form counties. erect State, aud
then, to show our unapproachable
magnanimity. we generously tax our
selves aud settle all the bills, re gard
less of the face that those who come
after us will be better prepared to meet
aud assume fair share of these
burdens. But to return to some other
questions of State policy.
Prior to 1875 the State rate of taxa.
ton was 81 20 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
1875 got IA bill through reducing the
rate to 81 cents on the one hundred
dollars, thus saving the tax payers
of the State to date not less than
$500. 900. We made another attempt
last winter to still further reduce the
rate to 65 cents, but inasmuch as dem
agognes and financial lunatics domna-
ted that Legislature. the effort failed.
That failure is costing the tax payers of
the State $3.50, 900 year, of which uu-
necessary sum Eureka county S proper
ton is in the neighborhood of SIS 600.
That Is to say, that we are sending to
Carson annually SIS, 900 that We might
just as we'll as not have kept in our
pockets, What is true of Eureka
county is equally trne of all other
counties In the State. The entire policy
is idotic. The State and county leyies
relatively are wrong. We impoverish
the counties under the present state of
affairs to place money in the vaults of
the State treasury, Which will not be
needed for ten years. White Pine. Lin
coin and Nye are lettering on the verge
of bankruptcy. Neither can ever get
ont of the tolls without extraneous aid
That assistance can only come through
rational legislation. Had the State rate
been cut down from 80 cents to SO cents,
as was proposed. the levy in these coun-
ties for local purposes coald have been
correspondingly raised without increas.
ing in the least the burdens of the peo-
pie. That this is the policy that should
have obtained in the last Legislature,
no honest man of average intelligence
l., hnL manila Of kh