Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1896-03-27
BONDS OFIDAHO COUNTIES
Their Taiiditv Defended BY a
Citizen of BOmner's Ferry.

BOnner's Ferry, Idaho, March II.
To the Editor: The published
letter of Messrs. Theis 4 Barroll
attacking the validity of certain
Of the bonds of Idaho counties is
not apt to spread much alarm in
this state, nor initiate against
their sale at good prices. The re-
sources and finances of the state
and the various counties are
things financiers accept as cri-
terion, and not the irresponsible
and unreasonable dictation Of this
or that attorney.
In opposition to the bonds the
letter in question contains a mu-
tilated expression Of the Idaho
supreme court, and several opin-
ions Of eastern lawyers Of more or
less distinction.
1t happens that Of tho "bond
lawyers" whose stamp ofinvalidity
has been placed upon our bonds
the writer is well acquainted with
one, perhaps the leader of them all.
The gentleman in question is no
less a parsonage than William b.
Hornblower, Of the firm of Horn
blower, Byrnc & Taylor. Mr..
Hornblower is quoted against the
regularity of Idaho bonds in gen.
eral, and Kootenai county bonds
in particular. So far as KOotenai
county bonds are considered the
opinion is entirely gratuitous. The
bonds. of this county are not in
dispute, and a very recent sale of
q large block of these securities at
good figures is the best argument
In favor Of their unimpeachable
character.
Mr.. Hornblower who, no doubt
= q great lawyer, It will be re-
membercd was President Cleve-
lands appointee for a vacancy on
the United States supreme bench.
His radical Wall street views of
financial questions and his weak
ncsses for monopolistic incorpora-
ton arraycd all or nearly all the
northwestern senators against his
confirmation. Both the senators
from Idaho were opposed to his ele-
walton to the highest of judicial
positions. While of course re-
mcnbrancc of his Waterloo would
not alone account for his poor
opinion concerning county bonds
Of Idaho, nevertheless it would he
cafe to say any doubt which might
have been in his mind would not
have been cast in favor of institu-
tions of this or any other free sill
YER state.
THEIs & BARRoLL.
Tho kernel of the letter OF
Mcssrs. Their 4 Barroll is that be-
fore any Idaho bond may be de-
nominated valid 1t must receive at
the hands Of our highest court
judicial sanction.
Our statutes and our laws con-
tain nothing to this effect and SC
far as the facilities for legal re-
search obtainable there is nothing
absolutely nothing-to warrant
this conclusion in the decision Of
our courts. The whole conclusion
seems to have sprung from the
teeming Imagination of the eastern,
lawyers who were summoned into
council.
In passing it may we'll be re-
marked that judicial approval OF
the gcnuineness of municipal Sc
curities would be a nice thing tt
have. So indeed would like ap
probation Of the title of any article
Of property about to be purchased
If be reasoned that the accep
lance under contract of purchase
Of bonds can not be enforced before
the bonds are approved by thu
court Of last resort, why not make
the commercial value and safety
Of other species of property depend
upon that condition?
We are informed by these grea,
lawyers from the east that it is 9
delusiOn to suppose that people o
such common understanding al
that possessed by our county com
Missioners should be allowed tt
pass upon the question of what il
and what is not "Ordinary ant
necessary expenses" for which
county obligations may be con
tracted.
The supreme court of the state
must tell the county commissioner.
what are and what are not ex
pcnses of this nature. If this b.
20 it is merely another freak o.
judicial Interpretation and goot
sense would require legislative in
terveation to change the rule
What Outlays are needed in thu
management of a county for which
warrants and bonds may be ISSUED
y . question entirely for the loca
managers Of county administra
lions.
KOOTENAI COUNTY.
As most unwarranted allusior
has been made to the bonds O
.Ko0tenai county, it may not b.
out of place to briefly refer to tn.
finances of this county. No ques
%inn ovsefa No IN thu validity of IN