Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1899-01-16

taxes given to district attorneys in con-
junction with the auditor after suit is
brought, should be taken away. Per-
son who think themselves aggrieved in
of taxes, already have ample and COM
plete remedy in a meritorious case be-
fore the board of county commissioners
and the territorial board of equaliza-
ton.
During the past IL years, the expendi-
lures of the territory have exceeded the
receipts from the usual and customary
sources of revenue. OF the present bond
ed debt of the territory, 1858, 800 repre-
sents this excess up to the close of 1892,
as follows:
Current expense bonds .......... $3.50, 000
Provisional indebtedness bonds. 200, 000
Casual deficit bonds ............. 101, SOC
Refunding bonds ................ 102, DOC
IOldl ...... .............. 4o0o, oVt
To the above must be added to get a
correct statement of this excess of ex-
penditure owe receipts, the unpaid ac-
counts of the years 1898, 1894, 1895 and
1896, for which a special tax was laid by
the last legislature, to provide for the
payment of about $70,0 900 of these &C
counts, leaving without such provision
at least $25, 900 of the claims of the same
years, and there must also be added the
deficits of 1897 and 1898, which are about
80 per cen of the appropriations fol-
those years, or say, $50, 900 for 1897, and
$50, 900 for 1898. In addition to which
must be added a large sum to bring ur
the interest fund to completion at the
close of the present fiscal year in March,
1899. Adding these various amounts ia
the present bonded debt as listed above,
that is to say, from 1886, as the refund
ing bonds represent a portion of the ex-
penses of 1886 and 1887 of about $3.50, 900,
or an annual average shortage of over
$50, 900. On the bonded debt covering
the funded portion of this excess, the
territory is paying now, and will con-
tinue to pay for many years, an annual
interest charge of rel $32, 900, or about
half the present annual interest charge
of the territory. The question arises in
view of these facts, what can be. done
to remove this increasing annual de-
felt? 1t can be remedied only by a de-
crease of expenditures, or by an in
crease of annual revenue. Can there be
any decrease of annual expenditures,
and if so, to what extent, and in what
specific direction? To consider this
question. let us take up the annual APP
preparation bills to see what expendi-
lures, if any, can be eliminated without
stand, as it simply covers the actual in
terest on the bonded Indebtedness, and
at the close of the present fiscal year,
first Monday Of March, 1899, the deficit
in this fund will be $55, 900, which must
be provided for to meet this. deficit, and
l recommend an issue Of ten years 6
per cent bonds, redeemable at any time
after nj year, with a provision for a
sinking fund sufficient to pay all the
bonds at the expiration of the 10 years;
this rate of interest is necessary by rea-
son of the very short time the bonds
have to run.
1t appears from the report of the
capitol rebuilding board, that for the
proper completion and furnishing of
that building, 100000 will be necessary,
Notwithstanding that the board has ex-
ercised the utmost care and economy in
all it's expenditures. The result is open
for your inspection, and it is confident
ly believed that no public building in
the country comparable with it has
ever been erected for so small an ex-
penditure. The former capitol building
cost the territory 5000, 900, while the
present structure, with this issue of
$50, 900 in bonds, will only represent
$135, 000; and it is much larger, more
~ botoiAtIdiy LIN III SNSty way pCltSA
adapted for the purpose, than it's pre-
decessor. To authorize your body to
make such an issue of bonds, an act of
congress will be necessary, and a bill
for that purpose has been introduced in
congress at the suggestion of the re-
building board in order that, in ease you
should take favorable action upon this
suggestion, there may not be any delay
in obtaining such an act Of congress-
thus making the proceeds of such bonds
Immediately available for the purpose
that the work may proceed to a
completion; and l earnestly re-
that you authorize the issue
of this amount of additional bonds on
the same terms and conditions, and to
be expended under the same commits
sion as was the original $751; o0.
The penitentiary fund cannot be re-
duced, neither can the salary nor SUI
preme court fund; but in the miscel-
laneous fund there seems to me, room
for great ret%renchment, during the next
two years at least. I refer to the pri-
vate, charitable and educational insti-
buttons, for which there was appropri-
ated by the last legislature, ST., 500 an
nually. 1 am aware hat local interests
the territory will s%trenuously OBJ
ject to this action by your body, but
while these are all m%eritorious institu-
tons, and if our financial condition
would justify the expenditure, should
be maintained; yet, the fact remains,
that we are not financially able, and
ike an individual, must retrench in all
matters of expenditure which are not
actually necessary in maintaining the
public credit in conducting public bust /
The large appropriations made to the
different territorial educational institu-
in the past should be carefully |
,urtailed, and only such sums as are