Santa Fe daily New Mexican. [volume] (Santa Fe, N.M.) 1885-1897, 1891-03-05
DEMOCRATIC LIES AND ISLANDERS CON
CERNING THE TERRITORIAL FUNDS.

The attention OF the New MEXICAN has
been called to an editorial in the Albu-
querque Democrat of March 4, headed,
"Rank Republican Roltenness," which
states, among other things, that the
amount of $2s0,0O0 belonging to the peo'
pie has been in the vaults or at the dis
posal of the First National bank of Santa
Fe for more than quarter of century.
The answer to this statement is this:
First. The First National bank Of San
ia Fe was not chartered till December,
1870, and did not begin active business
until May. 1871, less than twenty years
ago.
Second. The bank never had any
funds of the territory of New Mexico
on deposit prior to 1885 less
than six years ago. These funds
were from the receipt Of the sale Of $780,
600 penitentiary bonds and were rapidly
paid out in the payment of the construc-
ton of the penitentisry. The next funds
of the territory it had were the proceeds
of the sale of 5000, 900 Of capitol building
bonds, which we're all paid out during the
construction OF the capitol. Subsequently
$3.50 900 of bonds issued to pay current
expenses of the territory in lots of $50, 900
each, were issued at intervals of six
months, and the proceeds deposited in
the bank, but were all paid out in
few weeks after their receipt $50, 900 OF
capitol contingent bonds were subsequent
ly sold, and the proceeds almost imme-
diately paid out f. pay for the furniture
IN !! inc 'Ap .;s1 legislature 500. 900 provis,
lonal Indebtedness bonds We're ise.. : ana
sold; 10000 in Marcb rooJ, and l0O,0O0
in September 1889. These funds were ex-
pended in paying the territorial expenses
of the fiscal year ending in March l, 1890.
The taxes of 1889 have been largely paid
cut in the fiscal year ending March 2,
1891. To-day March S, about 1000
more have been paid out or will be paid
out within few days for deficiencies
and expenses, provided for by the
last legislature. The funds collected
last year, now on hand, are available for
expenses from this last mentioned date.
These amount to about $500, 900 and will
be rapidly drawn out after this month.
This plain statement of the facts will
show how utterly false, dishonest and
unfounded is the assertion quoted from
the article in question that $3.50 900 be-
longing to the people has been in the
vaults or at the disposal of the First Ma.
tional bank of Santa Fe for more than a
quarter of a century. We may further
say that banking conditions in New
Mexico are such that it is generally nee
essary for bank to have on hand at all
times from so to 80 per cent Of it's de-
posts.
The facts set forth have been obtained
from an actual and careful examination
of the laws and of the official accounts OF
the bank and territory, will be found to
be absolutely correct and will be believed
by all honest and decent people.
However, the course of that blackmail-
ing, dishonest and lying sheet, the Albu-
querque Democrat, can not be too severely
condemned by honest and we'll meaning
citizens. Of course the articlein question
is only Matchmaking device Of the lowest
order, but nevertheless it is dis.
grace, a shame, an injury and an
outrage, that sheet like the AL.
buquerque Democrat, that assails fol
no other than dishonest and black.
mailing purposes reputable, honest and
good citizens and banking institutions Of
the first order and highest reputation
without cause, but to blackmsil and be-
smirch) should exist in New Mexico.