Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1904-10-22
The Democratic
Deficit Bonds
They Needed the Money
and Issued Se78,8OO!W OF
Bonds to Get It,

II eAtiuSts No"'""
pith OF an article which appeared IN
a recent issue of the Alamogordo
Journal, a Democrats paper publish
cd in n country heretofore considered
democratic, but which now shows
symptoms of giving a large republi-
can vote.
"The taxpayers are paying into the
territorial treasury the sum of $780,
500 per annum Suppose we credit
the administration with $4,000 per
annum paid on reduction of debts
what then becomes of $$3S9,S90 re-
malning?We dare the present admin
istration to make a statement Of war
rants paid and on what account.
Give us a statement Of cash paid in
to the treasury by each county, cash
paid out, to whom and for what. A
mere statement that a certain bond
issue was 10 pay for a deficit incur
'|'"
red by Governor Thornton will not
do. Let us know what warrants were
paid with the funds received from
the sale Of bonds and also give date
and for what service those bonds
were issued. We will not take any
mans word for this. Come with the
facts and figures, gentlemen, or else
admit that the facts and figures are
against YOU"
Really, now, this is amusing. The
republicans have been wiling to
wager that some democratic editor
would consider himself sufficiently
well posted on financial statistics to
make an attempt at answering or
even ~refuting the articles which have
given to the public facts regarding
the financial administration OF Gov
ernor Otero, btu did not expect to
meet with anything quite so ingen-
ious and guileless as the above. Can
it be possible that the editor of that
paper is such a recent arrival h a
he has not heard of deficiencies left
by Governor Thornton and his pre-
decessors until the republican party
enlightened him, or Is he merely try
ing to run a bluff upon the other re-
cent arrivals in his section Of the
territory? In any event we would
suggest that before attempting to ed
ucate the public further he procure
and study the official reports pub.
lished biennially by the territorial
treasurer and auditor and thus avoid
another display of ignorance regard.
ing the financial affairs of the terri
tory.
The report in question contained
detailed statements showing receipts
from all sources, amounts expended
under the various funds. and, strange
as it may seem to anyone familiar
with the earlier financial history OF
the territory, the balances On hand.
To begin with it must be borne in
mind that Governor Otero took up the
reins of administration In June, 1897,
and worked for nearly two years un'
der revenue legislation passed by the
Thornton democratic regime and with
democats holding the important Of
fees of treasurer and auditor. Hence
to all intents and purposes democrat
lie until early In 1899, and as Otert
has paid $395,06 of debts since tha'
time the average is more than $3.50
per annum instead of the $4,000 pei
annum which the Journal is willing
to admit for the sake of argument
The republican legislature of 1899 hat
the courage 10 grapple with the out
rageous financial condition which hat
been inherited from democratic in
competence, and il the Journal reall!
desires full information on this par
ticular subject 1t might study n. B
142. of the thirty-third legislative as
sembly printed as Chapter SO, Law,
of 1899, entitled "An act to provide
for the payment OF the deficiencies II
the territorial appropriations Of tn,
various fiscal years up to and includ
ing the forty-ninth fiscal year." Thi'
bill made provision for an issue o
interest bearing certificates of indebt
edness to persons holding legal claim'
against the territory, A few OF thes'
claims were nine years old, man!
were six years old but the majorit.
had beer outstanding for two o
three years, and existed as potent re
minders of the Thornton administra
ton. The claims were listed In Tn
act mentioned above and later wer'
passed upon by a board consisting 0
a solicitor general, treasurer and aud
itor of the territory and provision
was made in the bill for a tax lev,
to redeem the certificates at the rat
of ~one-fifth of the total each year