Albuquerque evening citizen., 1905-07-05
ARlZ0NA'S EXCELLENT CONDITION
FINANCIALLY FULLY SET FORTH
From ARIZONA REPUBLICAN

A short time ago In discussing the joint statehood
question with former Governor Murphy the Hon. Joseph
G. Cannon of Illinois, speaker of the national house of
representatives, alluded to Arizona bankrupt terri
tory Incidentally we might inquire why the speaker is
so determined to infict upon the prosperous common
wealth of New Mexico consolidation with bankrupt
territory but let that pass. Let us about the bank
rupt business.
Yesterday the first day of the new fiscal year.
Territorial Treasurer Kirkland upon casting up his
counts found that he had hand in cash. hundred
and seventytwo thousand six hundred and seventysx
dollars and fourteen centsrather comfortable balance
for bankrupt institution! This is money than the
treasury before contained the beginning Of a
fiscal year.
The territory is a strictly cash basis. All valid
claims paid promptly in cash. and there is always
good bunch of money on hand for rainy day Bonded in
debtedness to the amount of ten thousand dollars
paid off yesterday And while maintaining this excellent
status the territorial administration is increasing the
tax levy.
But of course. the solvency of institution mer-
cante or governmental is not determined alone by its
cash on hand Is necessary to consider assets and liza
bilities Where does Arizona in that particular?
In round figures the bonded debt of the territory is
one million dollars Include with that the total indebted
of the counties and towns the public debt ap
proxmates three million dollars To Offset these obliga-
tons the assessed valuation of the property the terri
tory this year will exceed fortyve millions AS every
body knows this assessed valuation by correct
y represents the property wealth of the territory There
is more than mine that could be purchased
forty-fve millions. If assessments upon equita-
Bile basis the property assessed for taxation would be
valued at seventy-fve millions, at least.
But taking the situation find it, the figures are
bound to confound Uncle Joe Cannon when he studies
them II know all about Arizona" he said in the inter
view to which have referred, but he will know some
what more when he has learned the facts this
ritorys financial condition.
Any commercial institution would consider itself as
in first class shape If IL owed but three millions and
fortyve millions in taxable property and working cash
balance of two hundred and sevenywo thousand dollars
The fact is, no subdivision of the union is in a more
fourishng condition than is Arizona today and no sec
ton of our great country has brighter future.
Politicians in the United States congress may shu
their to the facts but they msead the coun
try by wild assertions that Arizona is bankrupt The
shrewdest most carefully calculating people in the wor
on financial maters-are the bond buyers II Uncle
Joe Cannon wishes to know what they think Arizona
let him try TO get some Arizona bonds-fve per cen
bonds at thstfrom the bargain counters of the bonC
dealers. He will find it necessary punge up dollar
and ten cents for dollar of Arzonas obligations
that he buysl And the sellers will tell him that he ha
obtained security that is sound anything ssuet
| by Uncle Sam