The river press. [volume] (Fort Benton, Mont.) 1880-current, 1906-01-17
MAY CALL EXTRA SESSION.

MAY CALL EXTRA SESSION.
Governor T0ole Gives Out Interview Re-
eardius the Bond Question.
HELENA, Jan. 11.-Goveruor Toole
today gave out the following inter.
view, in defining his position In re.
gard to an extra session of the legis.
lature in connection with the bond is-
sues OF the state educational institu.
ttons that have been declared invalid
by the supreme court. He said:
'When the matter vas fret brought
to the attention Of the public express.
ed the opinion that whatever might be
the judgment of the supreme court, no
bondholder would In the end lose q
dollar of his money. It 10 due to our
creditors to say that nothing has
transpired to change that opinion.
''Our solicitude at this time is more
to know whether the bondholders are
willing to acquiesce in the decision
rendered by our supreme court tn an
any concern about the immedi ate
wants of the several educational insti-
tutions, as the current expenses are
amply provided for by the usual ap.
propriations out Of the general fund,
and no Inconvenience can arise or
will be felt in the least for the current
year, except such a. may follow the
suspension of work on the new build.
ing connected with the normal school
at Dillon, and this seems to be un-
avoidable until the revenues of the
state are largely augmented, If the
decision OF the supreme court is to
stand.
1T seems that under Section 2, of
article 13, OF our constitution the leg.
islature may provide for taking up
these outstanding bonds by levying q
tax sufficient therefor, provided the
law authorizing the same is submitted
to the people at general election and
shall receive majority of the votes
cast for and against at such election.
There is q constitutional provision
against paying any claim against the
state not previously authorized by
law, which may or may not be an oh.
stacle. and may have to be oversome.
but the legal department. of the state
will investigate this and report in due
time.
"Since, under the constitution, no
provision can be made to meet this
emergency except at q general election
It follows that II an extra session OF
the legislature is not called for the
purpose OF submitting the tax levy re-
ferred at the general election this fall
the question could not be voted upon
until November, 1908, thus leaving the
state under its moral obligation to
pay, in default, on all its maturing
interest coupons for period of three
years, . condition which would tend
to. II II did not. impair our credit be-
sides being IN oct Of injustice to the
bondholders not In accord with fair
dealing and not In harmony, as I be.
lieve, with the sentiments OF the tax.
payers of the state.
"Confronted- by this condition it
would seem imperative to call an ex.
trs session Of tho Legislature unless
the bondholders should express q de.
termination to have the validity of
their bonds passed upon by the Gu.
preme court of the United States by
instituting proceedings for that pur.
pose In the federal court, or by &C.
quiescing in an appeal from the deci.
sion rendered by our supreme court
in the case of Haire vs.. Rice, in which
event the state, not having caused the
delay, ought to be absolved from the
payment of interest beyond December
80. 1905, the earliest time at which it
could arrange for the payment Of
principal or interest, II an extra ses-
sion was called. It will be the pur.
pose Of the executive department to
get into communicat with the bond.
holders al the earliest possible time,
after the period has expired within
which motion for . rehearing can
be fled and passed on, in the case of
Haire W. Rice, lately decided in our
supreme court. and apprise them of
the states plans and purposes"
Range War In wyoming.