The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-06-13
Balance
SCHOOL FUND.

In the above statement no attention
is paid to the school fund portion of the
taxes Or the warrants issued for such
purposes. The county's portion of the
taxes for the year was in round num-
bers about s122 ,000
The expenditures include every war
rant issued by the county court during
the year, a separate account being
kept of each fund so that the public
can easily ascertain just what amounts
have been expended for salaries. paup-
ers, prisons infirmary and the various
other departments.
Under The old law the selectmen
were authorized to issue warrants ON
and after July / for the total amount
of the revenue for that year, whether
collected oS not. OF course such
amounts could only be used strictly for
county purposes.
WELL WITHIN THE LIMIT.
Commissioner Geddes said yesterday
thar the board had figured that the
amount of the disbursements for
county purposes represented by the
warrants issued, below the total reve-
nue. for the year, would be something
like $4,000, although the members had
never made any exact calculations.
Tt is simply nonsense to say that the
expenditures of the present board have
exceeded the revenues" continued Mr..
Geddes. THE figures will show and
now that you have them | think the
public is entitled to learn the facts.
AS compared with the boards in former
years the showing is far better, and
this assertion can easily be substan-
tiaIted by referring to the books in the
county clerks office. In making this
statement / eliminate the warrants is
sued for joint building purposes which
was a necessary expense, and take only
into consideration the amount used for
running the county outside of such
items"
PROPOSED BOND ISSUE.
In speaking of county affairs in gen
eral, the conversation drifted to the
proposed new bond issue. The com
missioners firmly believe it will be to
| the peoples benefit to float the indebt-
edness by issuing interest bearing
bonds. But just now there is a. slight
difficulty which, if not overcome, will
have much to do with the price real
| lied for the issue.
/ The legislature, in passing an act
authorizing boards of county commits
/ sioneTs to sell bonds, drew up a form
i for such instruments and inserted a
clause that the interest and principal
shall be payable in lawful money of
/ the United States" That's where the
rub is. Everyone knows that bond
payable in silver or currency can not
! be sold in the eastern market at such
| figures as a gold bond. This fact was
undoubtedly recognized by the law
makers, as the bill, when introduced,
J contained the gold clause, but polite
| ians did not think it would look we'll
for Utah to issue gold bonds, and
hence an amendment substituting
lawful money was carried. This, of
| course, means that the county, under
such bond, could pay in any kind
Of money.
But while this sounds nice enough,
! the fact remains that such a bond
will not be taken by the eastern money
/ loaners at anything near the price of
one with the yellow metal clause
| County Attorney Whittemore is look
! ing up authorities, and it may be that
under the present provision the com
missioners can insert the gold clause.
! If SO, it will undoubtedly be done, pro-
vided it is found that any material ad-
vantage will be gained thereby
Taking UP the wisdom of the issue,
the commissioners point to the fact
that the county is now paying s per
cent. on about S450,000 in warrants.
But this is not all. Brokers now re-
! fuse to pay more than So cents for.
county warrants, making the people
under present conditions losers by
about Is per cent.