Durango semi-weekly herald., 1901-02-11
AN EPiroME OF
THE STATES DEBT.
Senator Seidomridge Gives Detailed
Figures in His Bill for a Bond
Issue.
(Denver Republican, /.

(Denver Republican,
One of the most far reaching con-
stitutional amendments offered at this
session OF the legislature is that By
Senator II. II. Seldomridge, of Colo
RADIO Springs, which whether it should
pass or not gives a clear idea OF just
what the debts of the state are. and
in what branches of the state govern
ment they exist.
The proposed amendment in the
same general form-the amount being
the only difference-has already been
twice defeated by the people at the
polls; but without regard as to what
will become of the bin the mere t.Xt
OF it is of valuable character as in
formation. 1t is S. B. 22S, and pro
| poses that there shall be subIh:tted
to the qualified voters of the state
at the next general election. year
| from next fall, an amendment to sec.
ton of article II. of the constitution.
TIE first part of the proposed meas
ure is to provide against the pil.ng up
OF another such debt as that which
now faces the state. and the second
part provides for the PAYMENT OF the
entire debt which now exists.
| 1t is set forth in section | that the
state shall not contract anv debt ex-
oept for the purpose OF erecting public
buildings for the use of the state, TO
suppress insurrection. defend the state
or. in time of war. to assis. the ma
| tional government. III" present con
stitution is construed by many TO pro
| vide for the same thing. bat instead of
particularly setting iorth that moreys
shall be expended for The state by the
governor only in times of war and in
surrection, it adds cases OF emer-
gency," which has ucen construed by
governors to cover all manner of OK
penses and deficiencles. This ex-
press language ~ Senator Seldom
ridges amendment will leave no doubt
dbout this matter.
The bill further proposes that the
debt in any one yea" for public build
iass shall not eycssI one-half NIL
on each dollar of vair It: m Of taNan,e
pr reity within the state. 1t fur
t, cI J.. opposes that it shall not H. law
fui fer the general assembly to appio-
pirate money except for insurreG'onc
an war in excess of the revcn IL !ui
tGc preceding two yea 5. AT present
Al preparations arr made on an,l'i-
patcd revenue.
Then it proposes this disposal OF
the present. Indebtedness by an issue
OF per cent bonds to be sold at not
less tnan par value:
Warrants now held in the
public school funds OF the
state to the amount of. $443,93 930.S0
On which warrants there
will be due on Nov. 80,
1902, accrued interest
amounting to .......... 40l ,459.34
Which interest will then be
subject to distribution
among the public schools
of the state.
Warrants belonging to 9TH
er state funds amounting
to 6l,1O3.s7
On which warrants there
will be due on Nov. 80,
1902, accrued interest
amounting to. 55,663.e3
Warrants belonging to pri-
vate persons amounting
to 279,22364
On which warrants there
will be due Nov. 80, 1902
accrued interest amount
ing to ............ 24S,273.93
The bill then estimates the def
cheney of the Thomas administration
with interest-at $193, $3.50, and
proposes bond issue to pay this
amount, besides the following sums:
Soldiers and Sailors