The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-04-12

Governor Wells said yesterday that
he had not yet signed the bill which
provides for the payment of interest
on state warrants, but he was going
to consider the measure between the
time which interviewed between the
close of business yesterday afternoon
and tomorrow morning. He also has
the counties bill in his hands and the
eStray and drainage district bills. The
county government bill will be signed,
as has been stated in The Herald.
True, there is one portion of the meas
ure, that relating TO jury fees, which
he does not like, but he cannot afford
to veto the bill on that account alone.
The counties bill provides for an au-
ditor for this county, who shall be ap-
pointed by the governor. But mas
much as the measure has no emerg-
ency clause, ii will not take effect for
sixty days after passage and approval,
so there is plenty of time. Applicants
are as plentiful as flowers in May. The
county commissioners are boosting
for favorite with the balance. mas
much as the office of auditor is intend
ed as a check upon the business of
the commissioners themselves, it
would appear as though what they
say in the matter should have very
little weight, and it is believed the ex-
ecutive will not invalidate the purpose
of the law by selecting a county COM
missioner's favorite.
Interest, however, centers around
the measure which provides for inter
est upon state warrants. Unless some
thing is done to relieve the situation,
the scalper is going to reap rich har-
vest. If the bill is not signed state pa
per will not be worth more than 50
cents, and the men who earn their sal
aries and are paid in that kind of
stuff will fare very badly.
At most of the banks in the city yes
terday there was a feeling that the
bill would not be signed, although it
must be confessed the banker as a
rule does not care whether it is or not.
A state warrant purchased at So cents
with the prospects for revenue as good
as they are at this time is a better buy
than a warrant which draws interest
and sells at par and which is liable to
be taken UP at any time.
Tomorrow all the preliminary work
of organizing the various boards will
begin. The state board of land COM
missioners will be organized and will
get ready to attend to large amount
of business. The other boards of which
the state officers are members will also
get action soon.
AS has been stated in this paper the
land commission will have all it can
attend to. There will be applications
galore filed as soon as the secretary
is ready to receive them. Cattle men
want leases and there is said to be
good demand for agricultural lands.
THE STATE BONDS.
A partial explanation or correction
of a statement made in our columns
yesterday with reference to the new
bonds of the state authorized by the
late legislature is perhaps necessary.
There is no clause in the law author
ling their issue which requires that
the new bonds shall be paid in lawful
money The kind of money in which
they are to be paid is to be left to the
board of loan commissioners, who are
authorized to make such rules and reg
ulations not in conflict with the law
as they may deem proper, the only
limitation being that the rate shall not
exceed four per cent and the period OF
redemption shall not be longer than
twenty years.
1t therefore follows that the board
will have to determine just what kind
of bonds, gold, lawful money or coin
bonds the new issue shall be. There
is no question that gold bonds will sell
for more money, however much law
full money bond would crafty the feel
lngs of the people