The Leavenworth weekly times., 1878-02-21

lions in this state tn aid in the con-
structioo of railroads, and remaining un-
maid which we're not exchanged for bonds
Of the State, as provided for by this act,
are TO be subject TO taxation for state, town
and municipal purposes and If not paid
the amount of the tax il io be deducted
from the interest of the bonts when due.
The comptroller Is directed 10 issue the
state bonds TO such towns and corporations
as file in his department their bonds TO the
state. After the bouGs issued by the state
are paid by the sinking fund. the bonds
given by the towns and corporations are to
be cancelled.
The Abpy Journal says that the subject
is an important one TO the towns interested
and the gentlemen engaged in the move
ment appear to be in earnest about 1t.
They clam that the debts were incurred
not oaly for the benefit Of the localities,
but for that Of the state as we'll, and that
it is but fair for the state to aid the un-
fortunate towns so far as it can by the
means proposed, especially when neither
the state at large nor the towns not direct
ly interested will be injured by the pro-
posed"
Is the plan presented in the above arti-
Clc Bi oCtASdOiC ucIC- Ahob II 4usSeaoA
for our learned attorneys and our expert
enced politicians. 1t may be that holders
of our X. p and NJ. River bonds will come
forward and accept the terms offered by our
Board Of Commissioners. viz: Thiriy-fve
cents on the dollar in a new issue Of county
bonds running twenty years and drawing
seven per cent. With regard 10 the Came
ron bonds, am informed that $4,000 of
those bonds were lately brought up by two
parties in LeavenwOrth at twenty-five and
half cents on the dollar. Perhaps these
parties, ambitious for power, may exchange
their bonds with the County Commissioners
for an equivalent of the Cameron railroad
stock, which would give them controlling
interest in said railroad. 1t NAV be
that philanthropic sympathy for
their fellow citizens of the
city and county b is moved them TO procure
those bonds with a view q donating them
to the c.uniy 1t is possible that such may
be the case, bnt not sufficiently probable,
however, to calculate upon Should such
donation be offered, let the acceptance be
prompt and thankful; let the fact be at
once noted in all the county papers that
Taxpayers may turn out and celebrate the
benefactiOn with hitting ovation.
Vain hope! The spirit Of Shylock is tie
spirit in which these demands are pressed
upon the people. If it is possible for the
commissioners, by the issuance and sale OF
county bOnd-, or in any other manner, to
pr cure a fund with which TO purchase
these outstanding londs at low rates, it
seems to me that would be the easies: way
out Of the difficulty Meanwhile let tax
payers la all The several school districts
and psecints prga.i,e for mu-
tual protection and defense.
Their property and homes are
menaced. We are threatened with double
tax levy next fall to be continued for sew
eral successive years, oH account os these
bonds, and that means sore distress to all,
absolute Iuin to many, for the times are
not now as they have been, and they are
more likely than otherwise TO get worse.
Prices Of farming capital and farm products
have greatly declined, and the decline if
likely to continue. All other branches os
busins ss, were they not also suffering under
the general depression, must necessarily
suffer in sympathy with the depressed state
Of the agricultural interest. We are in n ,
condition 10 stand materially increased
levy.
| Unless some unlocked for stroke Of finan-
cial policy comes to relieve the situation,
there soon will be trouble ahead. Let us
organize and be prepared for 1t.
| IoRiS6, February IL, 1873.