The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1909-08-25
TOTAL.

If all these bonds had been rathed at Washington, our present total
Indebtedness would Re S1613000. W. notice hat the issue of 100000.
will still further reduce the total by that amount. Even with this reduction,
however. or total annual interest charge would be increased by some
$4,000 over the present charge of 100000, making a toal+a annual change of
$65O00 in case all the issues voted b the legislatures of recent years are
approved by congress. w e nave o at hand fornaio to sho which of
these bonds nav actually heen approved other than the $4,000 issued in
1901. If all we're approved. it would show an average increase of or
public debt during the nine years between 9l inc 1910 OF over $1OOOOo
per year
The bill passed by the last Legislature authorizing the issue of 100000
Territorial Common School Bonds "a strictly IN administrations"
measure. While h intent OF the Measure is stated in the bill to De TO
provide funds m means for he educauo Of all the children within ii
Territory Of New Mexico. of school g who are not aleto secure. such
education and to provide for the location and erection of suitable school
that its construction am the disposition of the money shall be left to the
Governor. Secretary and Superint endent If Public instruction. acting a a
Board OF Trustees" The restrictions upon their power of constituting ne
Measure appear, o IN clos anninati very shght indeed ndouped
great good could e done through a prope disposal OF the money. o ne
other hand. h opportunities hat might exist for evil through a toe Ii
eraI" construction of the bill are somewhat appalling to contemplate.
1t is rue thu the income of the conmon schoo and OF the Territory
is pledged Il h payment o. IN interest o these bonds. which are to run
30 ears al per cent interest, but the principal is to be paid by a direct
tax on All Territorial property. The interest would nnou to $1,000 per
ear. or S4000 90 for the hoe term, a large su o one winch, IL M
bonds are n OF issued, will go directly into tn School Funds of the various
counties in proportion to their respective school enrolment That neans
that the School Fund will lose In 100000 income from the lands
md hat the people in los ecions Of IN Territory who Ear afford to eu
cato theirs WI children M bu1d their school houses will havet to pay
500 O. or educating the children n building the school houses" in
m Governor and Secretary are in need of aid N assistance The self
uonortng disricts. ike Chaves County. will have lot only to pay for them
ad dependent dislrcts-Hke. Tor instance. certain eno parts o
ocorro N Valencia Counies-but Will b e deprived o much or Ill Of the
no,ev hey would derive from the income from the Common School lands
rbicb now come tot h through the School Funds if tina income were no
rd in having tbs interest on he bonds. We assure or readers TIL a the
an Vaiienca counties did 20 primarily suggest to us the naming of those
counties as probable benehciares of this truly Macchiavelhon measure
just happened So
a SI npen like BuYum and Andrews n Luna happened to control III
Of trustees" O this fund? w e merely mak IN inquiry.