Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-09-20

bonded Indebtedness. and the terri
%ltorial indebtedness. but gives TO MIR
spiess' clients a specific grant ana
makes them preferred creditors of tn,
new state He did not appear TO bs
satisfied with the payment of the
known as tile colers' holdings, from
The three million acres, but insisted on
the specific provision which lost this
grant. and 81 the same time required
the territory to assume and pay all
lthe counfy indebtedness. This leads
rus to inquire whether. as Is reputed.
the Colers or their clients hold the
bonds of other counties in the terri
tory. ana II $50 what counties-the San
Miguel county bonds, and what is the
Indebtedness OF that county? Also.
wherein Is the equity as between ou
ties that hnve been t~xtrayagant and
counties that have been frugal and
economical Must the frugal and eco
nemical counties assist In paying the
debts of the extrsvagant counties?
We nre frank 10 say that we are un-
able TO determine the equity Of the
provision suggested by Mr.. spless and
50 readily accepted bg the senate COM
.mittce and cannot help but feel mis-
gitings regarding Mr Spiess inten-
dons 80 making the suggestion iucor-
porated In the enabling act.
Ia order that the suggestion made
by Mr. spiess Will be fully under
stood. we quote from The report Of the
hearing before The committee on ter
ritories. United states senate. as fol-
lows
what ] am primarily Interested m
that a way be provided hy congress
whereby these %bondholdera may col
leet their Indebtedness. know OF
better way than simply inserting
az page 8 OF this BIN these words,
which | have written in a copy that
l have, these words To follow the
words New Mexico IN the sixth line
Of that page-tand the debts Of the
counties thercof'-so that this section
viii read Third-ThRt the debts and
liabilities OF said territory Of New
Mexico and the debts or the counties
thereof, which shall he valid and sub
at the time of the passing OF
this act, shall be assumed and paid
by the proposed state
Al the same time. but further on
in the hearing Mr., spiess made the
following statement quoted from the
authority just referred to
II the gentlemen Of this committee
do not think the state should be COM
PEELED 20 assume the Indebtedness or
All the counties. they can rightfnily
and equitably direct the state To as
sumo the railroad-aid indebtedness. at
least. Then if the gentlemen think ir
cast a hardship upon some 9TH
m part Of the state. reduce this three
millionaire land grant which we
and make it four hundred thous-
and acres to pay that. That is a very
thing"
Has the anxiety displayed hy Mr..
Spiess in behalf of his clients before
senate committed ahatedg why
necessity of such anNirts what
WINS the wisdom in throwing aside
three million acres OF land in order
TO get certain specifically worded pro-
IN the enabling actf What is
nature OF the contract existing be-
tween Mr.. Spiess and his clients. the
holders OF the santa Re county rail-
road bonds. or with The Colcrs. as
agents for these bondholders? Is Mr.
Spices Interested In the bonds OF any
county Of the territory, ana il so, what
Is the nature of his interests? An
these questions occur 10 ms and If
fully answered hy Mr.. Spiess. or 9TH
ers, who are in n position 20 make
answers. the situation may he con-
siderably cleared mp.
Why this over jealous desire OF Mr..
60 become the presiding officer
the constitutional conventions