The weekly Elko independent. [volume] (Elko, Nev.) 1872-1887, 1877-09-02
Stnte FlIinnrs1.

rckn Sentinel in SO far MS it re-
fers 10 and advocates reduction
in State taxes is undoubtedly correct,
and the adoption of the course suggest
cd by our next Legislature, would not
only relieve tho counties Of an unnec-
cssaIy burden, but would also be i'll ac-
cordancc with the striot idoa of Justice. |
Towards the closo Of lie nrticle, which.
embodies great deal Of sound sense,
tho writer's egotism nppcurs to haVo
got the better of his judgment when he
refers to q majority Of tho men,bcrs OF
the lost Legislature Hs 'demagogues and
financial lunatics," md we would
mildly suggest that ginss houses are
very bad pluces from which to throw
rocks:" !, Er@I s-03 .3ait s"l
f. "The last official count Of tho Board
OF Examiners shows money mud cash.
vouchers in the State Treasury as fol-
lows: Gold, S22G,87S %; currency,
SI4.974 02i State bonds, Sl0l 900;
California State bonds, $50, ,00O; United
States bonds, .Sll0,090; grand total,
$75G.352 o5. And it is Ggrand total
when We consider that the bonded debt
OF the State which is the extent Of our
liabilities, is only about $3.50, 900 less
than 5000, 900 OF which falls due in
1872, and tho reminder. in, 1887.
Indeed. these figures nre considerably,
over tho mark. If our memory serves
lis, the financial officers OF tho State,
having moro money than they knew
what to do with, have already takon mp
in advance of thoir maturity, and mt n
premium something over 500, 900 of
bonds in order 10 stop tho interest
thereon. We ara not finding fault with
the Treasurer and Controller for this,
becnase q statute of 1875 authorized
item to do SO, and the measure saved
money to the State. but wo do object to
tho policy which provides for the
payment of our total outstanding debt
ten years III II ivanco Of its maturity.
at the preseSL ratio Of taxation, with nm
untliminished valuation of taxable
| property (nnd there is no reason to pre-
sumo that there will be any falling off
III this regard, on The contrary there
should be material increase), tho rev.
enues of this and next year will plnOo
approximately 1000, 900 of assets in
tho State Treasury. This Is simply RI
tiiculous, IN view OF tho fact which we
repeat, that the bulk OF our bonded
debt does not mature for ten years. We
start out first by assuming Territorial
Indebtedness OF nearly $500, 900, then
we erect capital buildings, penitentia-
'rica, universities, orphan homes, etc.,
all OF which are ample for all practical
bic 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 improvements
ut reasonable rnle Of interest, run-
ming term of fifteen years. This is all
right and not bad AS matter nf State
policy. But Mt this point vs. begin to
make idiots Of ourselves. Instead OF
going 10 work in sensible way to cs.
tablish reasonable sinking fund for
The redemption of our promises to pay
at the expiration Of fifteen years, wo
rush i'll nnd tax ourselves TO tho last
dime to accumulate the whole amount
i'll five years. ...'.. l...... .......'. ..' 'ti. Z
Prior TO 1875 the State rnte Of TAXA
ton Was 81 20 on each ono hundred
dollars valuation Of property. ,1 BY
dint Of the hardest kind OF work tho
writer Of this article aL the session OF
10 got bill through reducing the rate
| TO 80 cents on the one hundred dollars,
thus snying tho taxpayers OF tho Stato
to duto not less than $500, 900. t, We
made another attempt last winter 10
further reduce The rate TO CO cents, but
inns,nuch ns domngoguey and financial
lunntics dominated that Legislature,
the effort failed. Thct failure III costing
tho taxpayers of tho State $4,000 a
year, OF which unnecessary sum Eureka
coun,y's proportion is in tho neighbour
hood Of $4,000. What Is true OF
Eurckn county is equally ,truo OF all
other counties in tho. State. The on.
tire policy is idiotic. The State md
county levics rclr lively nre wrong.
We impovcrish the counties under tho
present state of affairs to place money
iii tho vaults Of tho State treasury,
which will not bo needed for ton years.
White Pine, Lincoln and Nyo aro tot
icrine OH tho verge Of bankruptcy.
Neither cGn ever sc. out Of tho tolls
without cNlraucOus nid. ,fhht ass;s.
t"nco ran only cOmc through rational
legislation. lind tho State rate been
cut down from 90 cents 10 Gj ccnla, ns
was proposed, thclevy IN thcse counties
70" local purposes could have been
cUtrcspundingly raised without incrcas.
ing In the least The burdens Of the
people. That this Ia tho policy that
should have obtained IN the lust Leg.
islaturc. no honest man Of average IN.
tGlligcnco will deny. and that tho poo.
plo OF tho State, from ono end TO tho
other, will next yonr clamor for its
adoption when they 500 their money
usclcssly boarded in Carson, IL equally
H.. .. ...#I.FH.