The Vancouver independent. (Vancouver, W.T. [Wash.]) 1875-1910, 1877-03-02
Out of Debt.

from the olympia COURIER:
Yesterday, Feb. 22d, 1877, the ami
versity of the birthday of the Father
of his country, was the commencement
of new era in the financial history of
Washington Territory. The editor of
this paper presented TO the Auditor a
bill against the Territory which was
duly audited and a warrant drawn
therefor. On presentation to the
Treasurer. instead of being endorsed
with the formula that has grown so
familiar by constant use tor nearly
quar.er of century-"not paid tor
want Ct funds" that officer drew
check on Mr.. Barnes and in few min
utes the check was cashed iu lawful
money of the United States. This
warrant was numbered 95S, and all is
sued prior to it will be paid on present.
alton and will onl draw interest up to
March IA, 1877.
Thus, for the first time in lis history
our Territory is out of debt, ard Terri
torial warrants are at par. Every tax
payer will read this news with pleasure.
Only few years ago the Territorial
debt was so great that warrants sold as
low as fifty GEMS on the dollar. Even
little more than g year ago they were
discounted Is and 20 per cent.
Much of the past Indebtedness was
caused by the negligence OF some of the
county treasurers throughout the Ter
ritory about making their annual settle
mems with The Territorial Auditor, and
rcunitting the funds to the Territorial
Treasurer. Many thousands of dollars
due the Territory were thus kept lying
idle while the Territory had 80 pay in
terest on large debt, and pay for
everything in deprecated currency.
There are several of these county ofi-
GERS who are now guilty Of It's same
conduct. Were the whole amount of
taxes due from the several counties
now in the Treasury, the Territory
would have $4,000, or more, over and
above all claims against it.
The present Auditor and Treasurer,
Messrs. Wheat and Tarbell, are en-
titled to much praise for their manner
of administering the duties of their Of
fees. They have adopted and main
tanned a system of books and accounts,
admirable for their accuracy and fitness
for the purposes designed, and both
have been unceasing in their efforts to
induce, and often to compel, the county
officers to execute their duties punctu-
ally and forward the moneys due the
Territory at the proper time.
The act forbidding the issue of pre-
ferred warrants, that should take pre-
cedence over others and be paid out of
any funds in the Treasury, and the
change in the plan of conducting the
lnsaue Asylum have been assigned as
reasons for the Territory now being
out of debt. AS all warrants issued
up to date have been paid it would have
made no difference had some of them
been preferred. The only difference
was in their value as AN investment.
So long as the Territory was in debt
and by reason of the system of preferred
warrants i. was uncertain when the
others could be paid, holders of the
same had to suffer heavy discount
when they sold them. Also the records
show that thus far the bills audited for
expenses of the Insane Hospital have
been nearly double since the change
what they were during any similar pc
riod under the old system. To be sure,
a good deal of this was tor the purchase
of property from the old contractor and
forms no part of the current expenses
of the Hospital, but, still, the new sys-
tenn has done nothing so far to lessen
the cost to the Territory.
The Territory is out Of debt because
our taxes have been large, and the ad-
miristration of its financial affairs has
been as economical as iie proper off,
GERS could make it. This satisfactory
financial condition can easily be main
tanned if the various counties will do
tteir duty aud send in the moneys due
the Territory as fast as collected. II
this isnot done the officers responsible
for the neglect will be promptly re-
ported for prosecution to the several
district attorneys, aud then, after pay
ing costs Of court, perhaps they will at
tend more faithfully and promptly 10
shair official dufics