Rocky Ford enterprise., 1896-10-29
ADJUST THE STATE DEBT.
Chief Justice H.yt Gives Reasons Fol
Supporting the Amendment.

of the debt of the state was defeated.
The succeeding legislature. however,
promptly passed u measure to resub-
nit the question to the people, because
regardless OF party. II large majority
of the members were convinced that
the proposition had been beaten on
grounds that We're untennble, and sup
positions that We're erroneous.
Investigations of the outstanding
debt show that there are no legal OBJ
jections to Its payment. while every
moral obligation points to the neces-
sity of finally adjusting the matter.
Chief Justice Hayt OF the supreme
court on Monday gave his views on
the proposed constitutional amend
ment as follows:
Il am heartily In favor of the pro-
posed constitutional amendment for
the following. among other reasons:
''First. majority of the warrants
represent valid claims against the
state. and the remaining 10 per cent
were issued for value received
Second. two-thlrds of these war
rants In amount. belong to the school
fund, and should he paid now.
NO argument has been advanced
against the payment of these warrants
unless the statement that they are 'eX-
cess warrants be taken us an argu-
ment. Such statement Is not sup
ported by the facts. Ninety per cent
OF these warrants are not open to the
claim that they are excess warrants.
Practically all the excess warrants
have already been paid.
ITO Illustrate: The legislature at
each biennial session may appropriate
the revenues for the next two fiscal
years. Suppose these revenues amount
to 81 100000 for two years and the leg
islature appropriates S2OO.OOO in excess
of that amount. or S1.GOO.OOO. The leg
islature. In such case. lawfully nppro-
priated $1.4OO.OO. and the fact that 1t
did not provide for the payment OF
S2OO.OOO In addition would not invali-
date the preferred claims for the ST.
100000. When contests over these war
rants arose. the holders. having In
mind the principle. presented the 500
600 of excess warrants and received
payment thereon: hut the payment of
the invalid warrants did not discharge
the obligation to pay those that We're
valid.
1.-The constitution provides that the
principal of the school fund shall re-
main inviolate. the interest to he used
for the benefit OF the public schools
of the state. The school funds of the
state We're invested In these warrants
by express legislative direction, and
there is now due. as interest upon such
investment. S21j.OOO. The state has no
right to defer the payment of this in
terest a single day beyond the earli-
est possible moment at which 1t can
he divided among the school districts
he paid. This money belongs to the
common schools of the state and should
of the state. to the end that 1t can he
now used for the education of children
of school age. To refuse or defer the
payment OF this sum will work an in
Jury to the children that can never he
repaired. These children are rapidly
passing beyond the age at which they
can attend the public schools and to
deprive them OF the benefit OF this
money would be fraud upon their
rights and Il wrong which the people
of Colorado ought not and will not
knowingly he n party to. They have
at all times. even during periods OF
great financial distress. sanctioned
liberal appropriations for the higher
institutions of learning of the state:
but the claim of such Institutions for
support. strong rs II iS. Is Insignificant
In comparison with the claims of the
poor children of the state to the mon
ey which the constitution sets aside
for their education. The rate OF taNa-
tion for state purposes Is fixed by the
constitution. and cannot he increased
If this amendment Is adopted. ms the
levy has now reached the maximum
permitted.
''rhose who urge u postponemcnt Of
this claim until the legislature can.
the state should know that 1t
Is futile to appeal to the leg
islaturc. under the existing cir
cumstances. for any such purpose.
For years the children of the masses
have been deprived of this money in
violation of IN express constitutional
mandate. The wrong cannot me rem
cdied. but 1t can he stopped. and |
would appeal to every school officer
to set aside one school day. before
election. for the discussion in the pub.
lie schools and elsewhere Of the merits
of the proposed constitutional amend.
mcnt.
This is not a question nf politics.
but of morals. and | urge upon every
candidate of every party tile ncccs-
ment in his publ e address.
FINALLY. would urge every voter
to see that his ballot is marked For
the amendment
The foregoing opinion is conc,rred in
by Associate Justices Goddard and
Campbell.
Without exception the state officers
who are in position to know the effect
of the debt. upon the states standing
favor the amendment.
Governor McIntirc expresses his un-
qualified approval of the measure and
believes II TO he the only way to arrive
at II satisfactory settlement of the
matter.
State Treasurer MulniX is strong
advocate of Its adoption. believing that
serious Impairment of the states
credit would follow the failure to pro-
vide for the payment of these war
rants. He has experienced some diff
Guilty in floating state bonds in the
east because of the uncertainty re-
gnrding the final action on these war;
rants.
Auditor Parks makes the following
statement in support OF the measure: :
There is no more important ques-
tion now before the people of this
state than the proposed amendment
These warrants, with the accumulated
interest thereon. amount to approxi-
mately S1.200.GO0. which is the amount
pf hands nrnnpsnI m b, i,,S,, I,;i