Arizona silver belt., 1898-02-17
THE M'CORD ADMINISTRATION

In the Republican of Saturday, the 18th. appeared au editorial, evidently prepared by Governor McCord, which severely reflects upon the administra- ton of Governor Franklin, member of which I was. To correct the false hoods and misstatcments therein con tained is my excuse for this article.
 Governor McCord. for I assume that in an idle hour he wrote the editorial referred to, says: "When Governor McCord assumed control of affairs he found S20.3 of unpaid debts that had been contracted by his predecessor that ought to have been paid" What constituted this debt? 1 affirm that no debt was contracted by Governor Franklin not strictly in compliance with law and that was not promptly met at maturity.
 He says he found the public institu- tions run down to the lowest ebb, and he found territorial warrants selling at S5 cents on the dollar and the market for them very poor. The public insti. tutions were never in better shape and had never been run so economically as under the Franklin administration. The price of territorial warrants ranged from 95 cents to par, and there was no difficulty iu placing them.
 'He found an issue of $500, 1000 of territorial bonds on the market and hswked about in every brokers shop from St. Lotus to Chicago aud New York. and even ia London, with no buyers. Governor Franklin made a trip to New York at the expense of the territory to sell the bonds but did not sell them. Secretary Bruce made s trip to New York at the expense of the territory to sell the bonds but did not sell them. Treasurer Cole made trip to New York at the expense of the ter ritory to sell the bonds but did not sell them. Finally the bonds were seut to Londen and returned unsold at the ex- pense of over $500 to the territory. In this attempt to sell the bonds $5463 was expended"
 Governor Franklin never made a trip to New York and never drew n dollar from the territory for that pun pose. The McCord- Hughes adminis- tration made a contract with one Frost to sell these bonds, who reported them sold upon being delivered in New York. The bonds were signed and Messrs Bruce and Cole took them to New York upon the assurance of the agent that the money awaited their de. livery. This McCord knows. The money was spent in carrying ont con. tract made by the Hughes administra- ton, of which McCord was the main pillar.
 ''Soon after Governor McCord came in an offer was made to the loan com mission to take this very issue of bonds at par and accrued interest by respon- sible parties, and the bonds would have been sold had 1t not been for certain vacations law suits instituted by par ties who desired to ruin the credit of the territory by repudisting part of its debts or the debts of certain coun- ties which would have the same result. "
 This is rot Who has ever instituted suits to ruin the credit of the territory think every citizen would like to know.
 Governor Franklin refused to refnnd thc railroad bonds of Ysvapai county because they were illegally issued and because he could under the law issue DO bonds in liquidation of county in debtedness except upon demand of the board of supervisors of such county. The board of supervisors of Yavapai county protested against the refundina of these bonds.
 When McCord came into office he did the business in the dark. No one knew it was done until it was accom- plished, and because Yavapai county refuses to be saddled with this extra debt, forced upon her by the gover nor's pals, the credit of Arizona is affected.
 When the supreme court of the United States declares that these bonds arc just sud vslid claim sgainst Ysvs.