The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1883-07-21
TUE COURT HOUSE CUES
TON.


house loan. "None are so blind as
those who will not see," is an old
adage which will apply in the case
of our cotemporary. 1t pretends to
see q necessity for the immediate
construction of county buildings, but
cannot see that the county will save
money by delaying their completion.
It can see that the money may be
borrowed at Z per cent. interest if
the people vote for the loan, but a n
not see the disadvantages under
which the county will labor if this
debt be forced upon it. It sees, or
processes. to see, that the Commits
sioners have made a grievous mistake
in their estimates of the cost of the
building, but it fails to comprehend
that they may make further mistakes
before the building be completed.
In fact, it seems to see but n side
of the question. But it makes no
difference what the Inter Mountain
sees OF cannot sec This is not a
question in which elimination and
recrimination by newspapers cut a
figure. It is a matter too serious in
its aspects and too grave in its re-
suits to DC affected by inky diatribes.
The Commissioners call for a loan
of 800, 600 ito erect and complete the
court house and jail for the county,"
They are not asking for money to
purchase furniture and fixtures for
the same. There is plenty of time
to ask for that when the wished for
loan shall be exhausted in erecting
the buildings. This loan of 100000
is due in ten years but redeemable at
the pleasure of the county after the
expiration of five years. Now let
us see what the county will have
to pay if the loan be voted
for. In order to redeem it
at the end of five years an annual
sinking fund of 500, 900 must be ere
ated, which together with an interest
fund of $1,000 a year will make $27,-
600 that must be raised each year in
addition to the amount needed to
meet the current expenses of the
county. This loan then will force
the county to raise by direct taxation
the sum of $135, 900 within five years
for the purpose alone of paying this
debt. The current expenses of the
county do not fall far short of $75, 900
year, but if by any unforeseen cir
we should have a large
calendar they would exceed
that amount. But putting them at
SIS, 900 a year they would aggregate
in five years $375, 600, which added
to the $135, 900, principal and interest
OF the loan, would make the enor-
nous sum of $50, COO to he raised by
direct taxation Of the people within
the given time.
These are some of the facts which
the taxpayers will take into consid-
GRAFTON before he decides his vote.
There are others which will have rs
direct bearing upon his decision. He
must consider the effect which debt
of this magnitude will have upon
the future investment of capital in
this county; whether it will terd to
encourage it ordrive itaway; whether
. high rate of taxation tempts capital
or ~discourages it, and what effect a
large indebtedness would have upon
the real estate values in the county.
When he has duly considered these
matters we apprehend he will come
to the conclusion that the interests Of
the county would be better subserved
by voting down the loan and permit
our we'll paid county officials to wor-
ry along in Their present quarters
until such time as the county can
create a surplus revenue to be
applied to the completion of the coun-
ty buildings. The talk about waste
and expense following the delay of
their completion is worse than idle
and that is the whole gist
of the Inter Mountains argument in
favor of the loan. Not another point
is made in favor of the proposition.
It is not worth serious consideration
and will not be taken into account
by intelligent men in making up
their verdict on this loan question.
The foundation Of the building will
not run away mol be injured if prop
erly protected. If the $50, 900 which
it cost is a good investment now it
will lose none of its value by waiting
receive the structure it is designed
for. If it is a bad one it would be
the height of folly to pile $100, 900 or
$4,000 more upon it.
WHY NOT?
Tho Nouy Vork WorII in N ort;