Arizona republican., 1901-02-15

Not long ago it was mentioned in these columns on SD good authority us
 one of the Yuma papers. YUMA'S the Sentinel WIG believe. ELASTIC or a. any Tatc tho of- MONETARY ficial paper, that tha SYSTEM. council of Yuma was
 doeding to its members and the officers of the municipal gov ernmeut down to the janitor. town lots in payment of their public ser vices. From that circumstance we were led to believe that land was legal tender at Yuma and that the unit of the monetary system was the town lot. There were several things to be said in favor of the Yuma financial system. One was it. apparent stability anI ar other was that the capitalists of Yuma cCuld not be impoverished in a night by thieves who break through and steal. Neither could their accumulati0ns or years be eaten away by the corruPtinG rust. Next to treasures in heaven, we thought at the time We would ike tr rest our future happiness upon q store of town lots in Yuma. There was one drawback, and that was that q resi- dent of Yuma even th ugh he were net given to the excessive use of soap. could not carry enough O: the money of his system with him to Day the ex- pcnscs of a journey abroad. But then why should a resident of Yuma want to leave Yuma? We certainly would not, We would much rather stay at hoa-a and gloa, over our town lots. hnpersh- able and incorruptible.
 It has just come to our notice. though, that the Yuma financial sys- tenn is defective like all other monetary systems. It is capable of imitation, about the most serious defect a monc- tary system can have. We understand from late r-port presented to the legislative council that the mayor and council of Yuma are about to put out new issue of town .c,s, whereby val ues of all kinds in Yuma will be greatly disturbed. The recorder, who has been demand a raise of salary to q 1,20O. The police judge, vho has large and eX- reAsivc family, cannot be expected to continue 10 adjudicate for t-7OO a year when the price fl bonnots has gone up from tl-5 to Il 10 and when the price of drinks bounded from Il A to u F.
 We were aware ot tho tend ncy of the human race toward an inflated currency and our opinion of the eX- Cellence If the Yuma monetary system was based upon miSapprehension cept!ble of coinage into town lots was fixed and dennita; that, therefore, the volume of Yuma currency could be neither increased nor diminishel; that while part of it might be withdrawn from circulation and become cabbage and watermelon gardens, just as the gold of our system is sometimes tenn porarily employed in the mechanical arts and decayed teeth, it would be al- ways available upon a strong demand for coinage.
 But we were mistaken. The mayor and common council of Yum do not seem to he confined to the municipal limits The area If coinablc land iS apparently unbOunde1, for the issue now proposed to be made with which Co pay flr an extension of Il lease Gr the territorial prison. belongs to tho state Cf California. We know of no other financial system of so great elasticity. There is no raason why the whole state of California and Nevada. Arizona, New Mexico and the republic of Mexico may not be coined into Yuma town Its at the pleasure of the mayor and council.