The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1910-01-07
HASTINGS SOUNDS NOTE OF
WARNING
folicy of Conservation Should Be Out
Lined and Followed to Care
For the Future

State Treasurer Hastings delivered
an address at the recent state conven
ton of County Commissioners which
was held in Boise in which he sound
ed note of warning. He praised
the commissioners for the good worl
which had been done and is to b.
done and spoke feelingly of the grea
state OF Idaho and her Astounding re
sources and opportunities but die
state emphatically that a policy Of
retrenchment was due in state ant
national expenditures.
Mr.. Hastings said:
l have heard and read with great
amount of pleasure and interest the
words addressed to you by eloquent
lips, about the wonderful resources
OF Idaho, its marvellous possibilities
its golden opportunities for the farm.
merchant. miner ard the capitalist
its beautiful climate. it's large rivers
snowy mountain peaks. fertile val
leys. vast irrigation projects and its
wealth in timber and ores. it's won
derful productiveness of soil, its high
average Der acre of grasses and
grams, its beautiful women and
strong men and would do naught to
dispute its truth, but do desire to
call your attention to the other side.
| mean the side of extravaganza and
spendthrift, which permeates llano
so greatly today. Aye. the whole
world for that matter and to warn
you and to see If we can not arrange
our financial matters in such shape
that when the storm does break
Idaho will be found safe at anchor
financially as we'll as in every other
respect. This financial storm Is gath
ering raDidly and will break sooner
or later If we keep on at the extrava-
CANT rate we are now going.
The second nation on this earth.
(England) is already facing it and
she is being shaken the like of
which she has not known since the
Napo comic eDoch of century ago.
At Washington the hue and cry is
for greater revenue and how to raise
it on account of greater expenses in
maintaining the government.
Getting down to our own state. we
are bonded today for $1.750.000. on
an assessed valuation of $120.0OO.-
600 and were calamity to occur to
lis today and special session of the
legislature were necessary to be call
ed to remedy that calamil, we could
not borrow $4,000 as we are '>1t
close to our constitutional limit of
Indebtedness. Some one may saw.
We'll. no state will go bankrupt If
she cannot create an Indebtedness of
over one and one-half per cent of her
valuation" True. but the fixed
charges connected with that indebted
ness which NAV be incurred will be so
high that the taxpayers will stagger
under his load and leave him but
little. to save after providing for his
family expenses. |
We are today paying annually $70.-
600 interest money in round num-
hers. 5000 every dav. | would like,
right here to call your attention to
two very important supreme court de-
risinns which have been handed down
within the mast sixty days, one is
known as the University case which
illustrates the spirit Of extravaganza
which permeates the Legis' AZURE. and
after all the legislature is simply a
reflex of the people.
Not satisfied with bonding for a
reasonable amount thew even try to
set aside the constitution and to
the future, and if this pro-
cedure could have gone on Indefinite
ly whore in the name of good bust
ness Judgment would we get off in
the future?
The question of taxation is the next
great question. TIE taxing or ather
he assessing of all pronertv at it's
'ull cash valuation must be done. ac-
'Ording to the supreme court. The
first law regarding fnl' cash valua-
lin was passed in 1893. the second
n 1901. and Drovidine a penalty of
, minimum fire Of 800 and max
mum fine of $500 in Each and every
'ase where the assessor did not assess
he nronertv at its full cash valuation.
Under the decision Just rendered no
agreement can be made bv the asses
or or behind the assessors. the coun-
v commissioners to nut propertv on
INV other valuation than it's full cash
,aluation.
Now regarding the powers of the
state Board of Equalization. We can
aise or lower only the valuation of
he state as reported to us by the var
GUS county assessors not to exceed Is
'er cent, in other words, should the
SCISSORS turn the total valuation of
he state at $100.0O0.00O we could
aise that to $115,0OO.0OO or lower
/ to $4,000, 900. Now here comes
mother side of the decision. I'm
uestionablv the true valuation of !.
he State of Idaho is nearer $1,000
10000 than 1t is $120,000,000. but =.
ct us call the next valuation $780, )
90 1000. under that valuatiin we
ould bond for $4,000. 900, 900 an in
rease of over $4.0O0.000 which the
ext legislature would bond for. =
moving what do of legislation they
Don would bond for that amount !.
nd If so. it soon would be but little !
,hile before our daily interest on this 9
onded Indebtedness would reach
500 Der day. firmly believe also. =
hat if Idaho should be put on its =
I'LL cash valuation. then, we should ,
ave another constitutional amend ;,
lent cutting down the limit of the !.
aoislatnre from one and one-haf
Hills, as it is at present to one half .
ill. =