Arizona weekly journal-miner., 1897-10-06

It is proper to say here that the parties who so declared represented all the principal taxpayers of Pres colt. and many of the heavy tax payers of the county, generally. at the time the bonds were issued.
 "The governor of the territory, at the time, Hon. F. A. Tritle, in a let ter addressed to Messrs. Christy & Janney, of New York, (the parties who had purchased, or wers about to purchase these bonds to place with their cusfome-s), under date of February s, 1886, testiies to tAe validity of these bonds.
 "Hon c. Meyer Zulick. ex-gover- nor of Arizona, addresses these gen. tlemen, later, in the following Ian guage:
 "'The bonds were issued as di- rected by law, and subsequently, ap- proved by congress. We believe them to be pre-eminently good Yavapai county Is one of our oldest, best and most prosperous counties, with abundance of taxable values to make good, both principal and in- terest, all her obligations, and l know of no legal restraint that now exist, or that hereafter are liable to exist, to impede her doing so.'
 ''Mr. HazeItine, cashier of the Bank of Arizona, under date of February 9, 1886, addresses a letter to Christy & Janney, of New York, in which he says as follows:
 "'Our county is larger than some whole states, and is rich Tn cattle, sheep and horses. The people of Prescott, of course, are eager for the early completion of the road. The country people are equally anxious for 1t, with few exceptions, comprising those who live right on the line of the A. tS P. and selfshly think they have little interest in the rest of the county. 4 well-to-do stock man, living 40miles of town, has just called upon me to ask how the rail road is getting along. He told me he would rather pay S100 extra taxes each year for ten years than have the road fail. And he is but a sample of many more Of our coun- try customers. I am myself secre- tary of our Live Stock Association, and know their feeling as regards the enterprise"
 He concludes his letter by say ing;
 "'I might add that our president, Mr Sol. Lewis, and his brother, cap italists of San Francisco, own or control almost the entire debt of Yavapai county, and not only do not J object tefurther bonding the eOsAnty y in the interest of this railroad, but are among the strongest supporters of that measure.
 Now, while it is true that it is unfortunate that the owners and managers of the P. & 4. c. R. R.. so conducted the affairs of the company as to bring about the destruction of the property, that fact in no sense relieves the county of the moral and legal responsibility it incurred when it issued it's bonds for the construction of the road which bonds for many years prior tC the collapse of the railroad had passed into the hands of innocent parties, who received the interest regularly from the county up to the time that this spirit of repudiatior took life.
 Il do not believe that many ol the citizens of Yavapai county and the territory who nave supported the idea of repudiating the payment of these bonds, have done so with a thorough appreciation of the sit uation, and 1 do not believe that they are in accord with the ais
 reputable methods and charges put
 forth by some of the democratic press and last years defeated popu
 list candidate for delegate to con
 gress.
 II am sure that it will only be ; matter of short time when tn, acts of the Loan Commission vii
 begin to show results favorable tC every tax payer of the territory, anC the funding of the Subsidy bond , will be looked upon with favor bl every citizen who believes in faI and honest dealing.
 1t is silly twaddle to say that be [ cause the I. x A. C. R. ls. failed anC another road was built under an ac | that exempts them from taxation that the county should not pay it } notes. The P. x A. c. R. R. was tn l beginning of the development O 3 tho resources of this rich territory t and made possible the present pros
 porous condition of Yavapai county
 
 Arizona would not, in all probabili - ty, have the north and south road 9 which has done more and mean P more real good to Arizona than al q else that has happened, or will hap , pen, for many years to come; demon = strating the wisdom of the clea $ headed men of the county and legi: y lature in aiding, by subsidy, tn ! building of the r. < A. c. k. R ,, which was the stepping stone | t much that is beneficial to Arizona. | "In regard to the charge that th $ Commission acted hastily, etc, ths s we should have awaited the actio
 of the courts. l would say that th }. Commission, as well as every one - the territory acquainted with tl e facts, understood and believed tn; t counsel had been engaged to resi- Is the payment of the bonds as a resu It of political preiudiees. and for | d other reason, unless 1t were 10 di: al tribute a little of the county Y money among sympathizing alto U ueys. Not beIng in sympathy wit ,- such methods. the Commission w; , not influenced thereby.
 .e "'Che funding of the bonds wi O put a stop to litigation stop u s. flow of county money into u le pockets of attornevs, save two D d cent per annum interest on u )f amount of the bonds funded, pos IS pone the payment of the prineip 70 for fifty years, and preserve u d credit of the cou lty and territol