Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1877-12-11
The Daily Press and Dakotaian
COUNTY FINANCES.


lind the following item:
We understand that since the new law
st0rping the county authorities from order
ing warrants drawn unless there be money
10 the treasury to pay the same came intp
effect in July last, there has accumulated a
debt against tue county of over SIS, 900, all
incurred since July LIST, and distinct from
the debt existing ut that time. If such be
county for work or materials furnished will
be compelled to wait long while before
getting their pay. 1t is questionable wheth-
er the new law Is any improvement on the
old plant certainly has not checked
the rapidly increasing debt burden of the
county, which is growing into enormous
proportions.
The property owners of Yankton county
would seriously object to the publication of
an item like the foregoing in home paper,
even If the statements therein contained
were true, But as they are entirely without
foundation in fact their utterance seems
like political attack given without regard
to its effect on the minds of capitalists and
home seekers whose inclinations may tend
towards investments in Yankton county
The truth of the matter, as given by the
county commissioners and as shown by the
county records, is that not one dollar of
real Indebtedness has been incurred by the
county authorities since the 1st Of July last,
the day when the new law went into effect.
since the October session, and portion of
those siace audited, have been paid in cash
at the rate of one hundred cents on the
dollar. There is now outstanding in al
lowed accounts not more than one thousand
dollars, and this will be paid within the
next thirty days. In commercial transac-
tions thirty days is considered cash, therefore
we can truthfully say that there is now out
sanding not one cent Of debt incurred by
toe county authorities since the operation Of
the new law began. Under the present able
financial management of our affairs all pur-
chases are settled for in cash in from thirty
TO sixty days after liabilities are incurred,
and by this method of cash payments the
paper of the county is rendered as valuable
asthe paper of our best business men. Ex-
penses are thus greatly reduced, as charges
are put down to cash basis and the county
is no longer compelled to pay from thirty
to forty per cent more than articles arc
worth to reimburse the seller for the old.
time depreciation of warrants. At the
present rate of receipts and disbursements
knowing the amount of accounts to be paid
before that time. we can easily figure that
there will be considerable cash surplus il
the county treasury by the 1st of January
and no outstanding liabilities, except tn,
bonded Indebtedness, which is amply pro
vided for. 1t will thus be seen that tn.
county is in excellent financial condition
That instead of owing fifteen thousand dol
lars it is clear from debt and is in condit
ion to not only remain SO but to enjoy thu
convenience Of surplus of funds in tn,
treasury. We do not ask cur readers Il
rely wholly upon our statement of the pub
lie condition. The books of the treasure
and auditing board are open to all and til
county commissioners invite the closes
scrutiny in support Of the facts we hav
woven into this article.