The St. Johns herald., 1886-12-23


 ing one of the leading topics con- nected with the pending session of the Fourteenth Assembly. Public sentiment seems to endorse the measure, and the necessities of the people to demand it. The territo- rial press, as a rule, favors the scheme, and 1t Is to be hoped that the Assembly will adopt it as the best plan of practical economy in reforming the exorbitant rates of taxation, which are now so opprcs- sivc, without in any wise afording relief.
 In the organization of counties their municipal governments were to a large extent committed to in- experienced hands, the exact na- ture of wants and necessities were unknown, population was sparse, the listed property valuation pro duced inadequate revenue, prices were flush and expenditures lavish, and in some instances ready and interruptions agents were at hand to reap a harvest of spells amid the chaos which prevailed under loose ly administered affairs and officials acting without fear of legal re- straint. Some or all of these va riOus causes attended the organiza- ton of the territorial counties, and a system of injudicious manage mcnt, reckless disregard of means and measures, and slip-shod, ill., considered method of finance. grad ually plunged the municipal gov crnments ill debt, which yearly in- creased with the endorsements it produced. The revenues failing to meet the demands of current ex- penses, and at the same time absorb maturing obligations, the market has been flooded with county cer- titicates of indebtedness, which de- prtciated in face value as the num- Der multiplied. As the credit of the counties are thus impaired, the expenditures are increased in pro- portion to the depreciation of its paper, by the exactions of current creditors. Ten per cent interest is steadily accruing upon these out standing obligations, and the credit of the counties is hawkcd about at the caprice of watchful spectators in manner which accelerates it's downward tendency. To sum itup, debts have accumulated upon our hands, which cannot possibly be discharged with the resources at command, if We undertake at the same time to maintain and support the municipal government. Second, the accommodating interest is add ing another tenth to the debt every year Third, the increasing volume of county warrants is depreciating constantly their value, and as their number further increases, will con- tinue to keep them with a down ward tendency. Fourth, by reason of this depreciation in their prom ises to pay, the counties must, in like proportion, increase the prices paid for all wants and necessities in other words for all they buy or eXpend, they must issue warrant, the face value of which covers the difference between the market value of scrip and the value intended to be paid-if warrant is worth fifty cents on the dollar it requires two dollar warrant to effect the nur- chasing value of one dollar. Fifth, the bona tide outstanding warrants are valid, legal obligations aga1nst the county, and their payment can be enforced in the courts. Sixth. creditors will not jeopardise their rights by long and unnecessary de- lay, and if their claims are not ad- justed upon safe and sound basis, they will enforce them by legal rem edies. and thus entail upon the counties vexatious lawsuits and in tcrnIinable bills of cost