Rocky Mountain husbandman. [volume] (Diamond City, Mont.) 1875-1943, 1877-08-30

ing Territorial and school
Annual revenue from licenses
special poor tax, excluding
Territorial portion, Z,f-4 w 49, -. M, I
Sum of annual interest, So, no %
Annual EXPENSES of local gov
INV - $l2, 5lS 90
rxcn.s of reyenuc over expenscs, So, 40G 33
The assessed value of real and personal
property in the county is $75O,o00.0o. Inc
tax rate tor 1877, not including Territorial
or school taxes, Is mills.
The payment of the bombs and interest
is secured by section 6 of the Act authoriz-
ing the issue of these bonds, which provides
that forty per cent. of all money collected
shall be set aside for the purpose of paying
the interest, and the surplus, after paying
the interest, shall constitute a sinking fund
and be applied to the redemption OF the
principal of the bonds when they become
due. The sinking fund cannot be used or
diverted to any other purpose thar that OF
paying the bonds and interest, but the SUR
plus of all other funds, except school and
Territorial, can be transferred to the sinking
fund for the purpose of paying the bonds
and interest at any time.
At the present valuation Of property for
taxation, and rate of taxation, the bond anu
interest account would be us follows: .
Forty per cent. of SIS, 924 80 taxes and
licenses collected each year, $6,363 ~
Interest on $25 900 in bonds ut 10 per
cent. per anntIln, Z,''oo w
Surplus each year after paying interest,
to pay the principal when due, S3.so9 w
This will liquidate the bonded debt and
interest In about six and one-half years, at
the present rate oftaxation and valuation OF
property, but persons desiring to invest
must bear iii mind that the assessed yalua-
ton of property is increasing rapidly each
year. Our county embraces an area OF over
10000 square miles of as fine agricultural,
mineral and pastoral land us there is in the
Northwest. The soil of IFS valleys is Of the
most prodigal fertility, and over $4,000 acres
have been located for agricultural purposes.
Its beautiful and extensive plains and up
lands, embracing one-l,alf of the whole ares,
of the county, clothed with rich and nutri-
tious grasses, can furnish excellent and
practically inexhanstible grazing for almost
countless tlocks and herds, while there is
always and everywhere an abundance OF
pure mountain water for grazing and agri-
cultural purposes. There are now over 3d.
600 head of horned cattle, $500 horses and
mules, and 10000 sheep in the county, be-
longing to permanent settlers. Two years
ago there was only about 400 head of sheep
in the county, ind two years from now, at
the present rate Of increase large herds be-
. ing driven from California, Oregon and Ida
no each s%eason) there will be over 100, 00C
head, with room for twenty times that mum
t Der. A small tax on the wool growing in
/ tercst alone, in Il few years will be sufficient
to fully pay the principal of the bonds and
the interest when due.
t The mines and mining claims are not tax.
t ed. and therefore do not add, directly. by
: taxation. to the revenue of the county or tt
: the augmentation of its assessment roll, bu
our placer mining interest is yet one of the
5 most important sources of the county's
! wealth, and the mountains abound with
t gold, silver and copper lodes, destined il
l time to be Il source of immense wealth.
: We estimate the population of the county
e ut | 800. of whom more than 700 are male.
$ over the age of twenty-one years.
! The issue of these bonds is made in STRIFE
$ conformity to the law, and the county ha4
always been prompt III the payment of til,
: interest OF IFS bonds and debts at maturity
Q The sale of bonds is being made to redeem
c outstanding bonds, and they will be eX
changed tor the Z per cent. bonds now out