The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1888-12-22
Qua FLOATING NDEnrEDNrss.


1t is almost unnecessary for us to say
at the beginning of this Article that
the NEWS has always been opposed to
any scheme looking to the further in
crease of our interest bearing debit.
for it has been uncampromisingly SO 3.
But a few days ago we were in the
Auditors office, and in a conversation
with Mr.. Campton, that gentleman
advanced ideas on the financial status
. four county which has set US think
ing, and though we have not changed
our former opinion on this subject,
we have been so far converted MS To
admit that the Auditors views are
worthy the serious consideration of
our people, and especially of our
Legislators.
La substance this is how the Audi
tor figures: In four years we have re-
deemed nearly $4,000 more scrip
than has 6een issued. Only about
"a 1000 more remain outstanding
Inls II converted into 6 per ceut.
Oonds, To iuD, say % years, could DC
bought III lor 70 cents Oh the dollar.
la other wurds the scrip holders
would no aoaUt surrender tie $40. OUO
outstanding scrip aud receive x3U,OJO
III q Ter ceUt. bonds. The iund vi 10
per cent. that IS now used tor Il Re-
uvmptIun Fund could DC done away
With, aud All Interest Fund ut ~ per
created IN its stead to pay the interest
ou tie new bonds. InIs would, oi
course, False ,ur General Fluid paper
H. par Ur nearly 80, aud Ue u great
benefit Ia all our people who have
10 iaKe "ur county paper a. u ruinoLs
discount.
But We urged against the Auditors
very plausible proposition: How long
Vii II he before our County scrip iuhs
back III the old grtnyc again I aud
We will he worse IF than before.
This objection the Auditor met with
a lugic We could not upset. Ii, said
he, IN lou ears We ave paid of over
$3o,UO0 IT Indebtedness, and stood
tie heavy expense ot three murder
trials, My eau We not keep even ii we
once place ourselves upun u Cash
basis. As our scrip has been SD low,
muny Dills on The General Fund are
allowed tar above what they would be
II that iund were nytlhug nike
an u cash basis. With II stilet B1afd
al Commissioners, aud The woik OF lie
equity ubnc IKE thAt ut indIvIduals,
| STE ~ reason Why White Pine county
cannot be Kept On nearly "A cash basis.
Remember that the Interest Fuui l.
pc Created lor tue proposed new bonds
Is but l2 oI tile Is per cent. which
II now used rs II Redemption Fund
n kind of Grab Game Fund would be-
more prnper-as none but The Insiders
get n sll~w at IT,.
We must eandidly admit that the
Auditor ideas strike us ia, orably, and
If il can he shown beyond doubt that
our General Fund paper can be made
worth 30 Gents or muic, aud kept there
without additional burden ON the TAX
payers, We would favor the bonding
OF our floating Indebtedness.
Some may look upon this rs a
scheme of the scrip sharps To advance
their Interests. But We do not see
ho~ the benefit would all accrue To
them. True, they would get a fair
price for The paper They hold, but the
people ut large would bc no longer at
their mercy. Jurors, witness AMI some
n%iiicers who are now paid in scrip,
and h We To sell il AT from 20 To 25
cents ON the dollar, would be the par
ties most benefited and justice done
them.
We think that the subject of bond
Ing Dur floating Indebtedness is one
that will bear candid discussion, and
we would suggest that nnr Board Of
Commissioners consult with II legis.
,ative deleeation on The subject before
they leave for Carson.
A. fur ourse,f, We have "no AK To
grind" in the matter, and are solely
actuaied for the public good in calling
attention ~ it.
In c osing, it gives us pleasure to
give due credit to our Board of County
Commissioners, our Recorder aud Au-
ditor and County Assessor for the able
manner in which they have conducted
the financial affairs of tie county dur
inr the past four years. The record