Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1909-01-19
Territorial Finances.

The financial condition of the terri
tory Is very fully and clearly set forth
in the reports of the treasurer and
auditor, and their statements will
prove OF valuable assistance to this
assembly In framing the revenue act
for the ensuing two years.
In dealing with the finances of any
commonwealth one of the most inn
portant and fundamental objects to
be attained Is, not only the judicious
appropriation of public moneys, but
regulations insurlng their proper and
/ legal expenditure, and l take pleasure
| in stating that the reports of these
territorial officials indicate that they
have conscientiously carried out this
vital principle.
on December 1st 1906, the COM
mencement of the 5sth fiscal year. the
cash balance in the treasury amounted
to S360.000.90; receipts for the past
two years, sl.77s,5is.S5. and dis
bursements for the corresponding
period, $l,7l1, ,274.53, leaving on hand
a cash balance in the various funds
amounting to $427,23s.73, which is
SS7 ,237.S3 In excess of the balance In
the treasury two years ago.
During the past two years the terri
tory has issued bonds in the sum of
1906, 10000. as follows:
$4,000 institution bonds, authorized
under the law of 1901.
$4,000 armory building bonds, au-
thorized under the law OF 1903.
$lz5,O00 institution bonds. author
lied under the law of 1907.
S5O,OC0 capitol Improvement bonds.
authorized under the law of 1907.
$4,000 armory building bonds, au-
thorized under the law OF 1907.
TOtal--$30B,0O0
The territory during this period paid
off $l25,000 OF itS outstanding bonded
debt, and $4,000 will be paid this
present year.
The above constitutes the entire
bond issues of the territory that will
mature before the year 1919.
All Of the six per cent bonds have
been redeemed, so those outstanding
at present carry a four and fIve psr
cent rate, and the four per cent bonds
are selling at par.
The territorial tax rate has been re-
duced 10 thirteen mills, and in view
OF the Increase In assessed valua-
tions for the present year. combined
with an economical administration of
our financial affairs. a still further re-
ductiou in the rate should be accom-
plished for the ensuing year.
The proceeds of one mill levy for
the 59th fiscal year amounted to
about s3S,000 and the territorial au-
ditor estimates that in view of our in
creased valuation a one mill levy will
yield during the present year, about
$42. 900.
The territorial tax rate OF thirteen
mills Is the lowest in the history OF the
territory for the past ten years.
The total outstanding territorial debt
at the present time amounts to t1,-
023,00o.0O. and as already stated. $20,-
000 of that amount will be paid this
year.
The sinking funds In the treasury
for the redemption Of bonds amount
to s61. 6S0.S2. and when deducted
from the outstanding bonds leaves
1851, ,3i9.is. which represents the net
OF the territory.
II Is certainly gratifying to know
that the financial affairs of the terri
tory are in such excellent condition
our credit rating Is Of the highest
which commends not only
those whose duty Il Is to officially ad-
the affairs of the territory.
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