The Yakima herald. [volume] (North Yakima, W.T. [Wash.]) 1889-1914, 1898-08-25


cial statement issued by County Treasure
er Charles f. Whittlesey on June 80, 1s9S.
bringing all figures down to that date. IL
shows in detail the figures given in the
opening paragraph of this article. TAX
PAYERS and voters in King County are
requested to study the figures carefully.
They are more eloquent and forceful than
any words we can use. They are taken
from the official records and cannot Do
disputed. They measure the dinerehce
between dishonest, extravagant Repupnc-
an administration, and honest Fuslon
Government 1t will not be difficult TINS
fall, even among the clamor of Mckinney
ism, to choose between the two.
Comments of The Times"
The Seattle Daily Times in an editorial
commenting on Treasurer Whittlesey'
financial statement on August says:
A MAGNIFICENT SHOWING.
An examination of the financial condi-
ton of King County as gathered from the
official report of County Treasurer Charles
+. Whittlesey for the fiscal year ending
June 3d. 1885, shows a condition of things
of which the taxpayers and citizens at
large of this county might justly be
proud 1t shows to the nonresident IN
weston and to the people of the country at
large that King County is one OF the great
counties OF the country; that It's man
cial standing mas uttTdCttu tilt u'tVhhip'i
Of men everywhere; and It induces the
newcomer to invest readily in property
within the county.
An examination of the official report
which is printed in full In this issue, SHOWS
that not only is King County paying its
current expenses in CASH, but that 1t Is
reducing daily the outstanding indebted
ness of the county at such a rate mat
within a few years King County ought to
be altogether OUT of debt.
When, a year and half ago, the pres
emit county administration took control
of the affairs Of King County things were
in a bad condition. At that time King
County warrants, both General Fund and
Road and Bridge warrants, though draw
ing seven and one-half per cent interest,
were selling at a discount" ranging from
ninety to ninety-fve cents on the dollar.
Twice within the past year and q half
the Board of County Commissioners OF
this county has reduced the rate of inter-
est on these warrants. They are now draw
ing but "six per cent interest per an
mum. and the county and the taxpayers
are thus saved the difference of the rate
of interest on the outstanding indebted
ness. Though the new warrants issued
are drawing but six per cent interest per
annum, yet they are readily sought by
the investor and are selling above" par
worth more than their face value.
The Treasurer's statement printed else
where shows that while the county is on
n cash basis, and has been for five
months past paying all current expenses
as they accrue, our people have been do
ing more than that. They have kept up
the interest on the outstanding bonded in
debtedness, and they have paid off over
"s1Os COO OF the outstanding general in
debtedness during the twelve months end
ing June 30th, 1895 On June 30th, 1897, as
the statement shows, the outstanding in
debtedness, exclusive of the bonded in
debtedness. was 1924, 094A On June 30th,
1898, this indebtedness amounted to only
s1s3119.46. In addition to this the county
owed the state on June S0th, 1897, 81 s42. As
for penalty and interest" paid and not
accounted for by the county. This indebt-
edness the county has also paid off dur
ing the year, thus showing a total reduc-
ton OF Indebtedness during the year of
800 974 %.
All current indebtedness created since
February 1st, 1898. goes into what is called
the Current Expense Fund" and all this
current expense. or general Indebtedness
OF the county. is paid in cash. The state
ment shows that the outstanding war
rants In this fund on June Goth, 1895
amounted to about 500 But as a matter
of fact there are practically no outstand-
ing warrants In that fund. as they have
already been called in though not present
ed for payment From the present out
look there will be no Indebtedness what
ever in this fund in the future and King
County will pay in "cash" its expenses
as il goes. as II has done since February
list, 1893, but never did under Republican
rule.
In addition to having paid IN "cash" all
indebtedness created since February 1st
1898, what else has the present administra-
fion done during the twelve months past?
II has paid on the bonded Indebtedness"
created in 1850. the yearly interest of SIS
$3.50 1t has paid off of the old indebted
ness inherited by this administration,
500, % in the short twelve months. In
other words, II has paid Its current obliga-
lions In cash" and has paid off the out
standing Indebtedness inherited by ii at
the rate Of S341 for each and every day of
the year ending June Both. 1893.
When we take into consideration that
the taxes for the present year were S6O. 900
less than the taxes for the previous year.
this is certainly very good showing. As
appears from the statement. the County
Commissioners in the last assessment
levied SEQ 900 less taxes upon the property
of King County than had their predeces-
sors in the levy before.
What would one say of a private cor
poraton" that was paying Its current ex-
penses and paying Off old Indebtedness at
the rate of s341 each day of the year? At
this rate. II the present county admins
tration keep on their good work they
would In less than two years wipe out
every dollar OF Indebtedness in King Coun-
~ in the Road and Bridge Fund and in the
county Indebtedness fund, in addition to
paying the yearly interest on the bonded
Indebtedness created I'm the year 1882
According TO the statement, the only
bonded indebtedness OF King County IS for
sal3000. These bonds were issued in 1899
$4,000 for the outstanding indebtedness
~
of the present court house upon the hill
These bonds, amounting to $4,000, run
for twenty years or until the year
1909 and every citizen or taxpayer when
he climbs the hill to the court house can
not help thinking of the stupidity. to say
the least. of the "oId gang who in the
year 1850 bonded this county for twenty
wears to the extent of $500 900 for building
this court house upon this far OF hill
If today the county could sell this court
house for one-half the sum II is bonded
and would build a court house down
where the ordinary man could reach II.
Il would be a saving to the taxpayers in
the end. The old court house. however.
We shall retain as one of the many relics
Of folly OF the old crowd. who seemed TO
have no other Idea in the past, except 10
run the county In debt.
The taxpayers of the county ought to
take pride in the present condition OF the
county hHauceS anu OF lns good Wofk
the present officials are doing to reduce
the indebtedness. and thus reduce the
taxes Of the citizens of the county,
While the total indebtedness Of the
county, outside NJ the bonded indebted
ness. was only sls31l9,4s upon the 30th Of
June, 1895 the county has TO show for It,
in addition to other assets, delinquent
taxes" to the amount of 81 f75.213 y. and
under the present law, which provides
that all future leyies" of taxes shall be
set apart for the payment OF current ex-