Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1896-03-10

= ~ 49, -
amendment to the bill in
troduced in the house by
Mr.. Catron, validating the capitol re-
building bonds, authorized to be issued
by the last legislative assembly, there
war great Indignation among certain
classes of citizens Of the ancient.
The amendment offered by Senator
Brice provides for the valuation of
certain funding bonds issued by Santa
Fe county, in lieu Of the bonds issued
to the Texas, Santa Fe q Northern
railway company. At o meeting held
at the cour house in the afternoon, res
olutions Of the strongest character were
passed, ~denouncing Senator Brice for
his action as a senator, the speakers at
the meeting claiming that Senator
Brice was the owner Of the bonds
sought to be validated by the amend
ment. The speakers all disclaimed
any intention to "make politics" out of
this latest misfortune to Santa Fe, but
the veriest tyro In political machina-
lions could see an attempt to attack
Mr.. Catron over his apparent neglect
In the matter. Reading from the
Congressional Record, n Of the speak
ers attempted to show that no one was
present before the senate committee
protesting against the amendment and
that Mr.. Catron had remarked to the
committee that the amendment was a
m%eritorious one and should be passed.
Now, we do not know what may be
Mr.. Catron's position in the premises,
b 1t it may be that Mr.. Catron has as
c~ertained since his advent In Washing
ton that he can accomplish little 10 the
way of Territorial bond valuation so
long as Santa Fe county, his wi
residence, refuses to pay interest due
on bonds issued in aid Of railroad
building and in fact refuses to maze
any levy 10 pay said interest and vir-
tually repudiates large portions Of its
bonded Indebtedness. While it may
be the part of a politician at homo to
pander to the wishes of constituents
characteristics, voiced in the Santa Fe
resolutions, still when tarrylng among
the more or less wise or unwise men
OF the east, who have money and have
invested it ia Santa Fe county bonds,
either as delegate to congress, or as a
citizen, Mr.. Catron or any
one else 500 realizes that q believer
IN such principles has very little caste
among those whose money is needed
build up the west.
1t may be a great hardship for the
taxpayers of Santa FL to pay the inter-
est on these bonds. There may have
been some jugglery in their issue. We
do not know as to that. But we do
know that Senator Brice's action in the
senate IS a very pronounced indication
somebody wants to get his bonds
paid, and that somebody don't propose
to have any other bonds voted, vail
dated or sold to eastern capitalists un-
til somebody's bonds already vi are
properly takencare Of. 1t looks that
way to a man up a tree. AT this dis
,ance, we are compelled to recognize
he situation, which is that notice has
'een served upon US to pay our debts
'efore we ask for lower to create new
Iebts or acts Of congress validating
'onds, confessedly bad, when the
g passed the act authorizing
issue. /,
1t Is certainly unfortunate for Santa
e. Their chances for the restoration
I the capitol are below par. W. have
OF seen the copy OF the Congressional
containing the arguments and
,qulries pro aud con IN the senate, bur
10 fear that the amendment applies !
nth equal force 10 all the other bonds !
uthorized by the last legislature.
Those who have been interested 10 :
be cause OF statehood have known for
long time that Senator Brice and his I
riends ia the senate have repeatedly :
sserted that a New Mexico enabling .
ct would assuredly have tackled onto
a proviso that the Territory and its I
ounties pay all of their bonded debts :
8 a condition precedent to the success ,
{ the act. This was done In the case a
I the Dakotas when they were admit n
ID, and New Mexico's fate was de.
iced to be the same by the Brice con- =
ngent In the senate. The multi mil II
onaires Of the east, Ia and out OF the Il
mate, confessedly are moulders of pub a
0 opinionin financial circles. The mu- ~
or county in any state or Terri.
'ry with a bonded Indebtedness which, i
sought BY any element, large or small, it
be repudiated or disowned, morally 81
legally, is Stunned, financially, as q !,
It 10 this idea and this senti- n
ent prevailing in the east which is ',
sponsible for President Cleveland's q
'useating and i'll. advised statement y
out undesirable states and corrupt +
.,rritories. But the question still re- n