Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-11-28
INCOME AND OUTGO.

When n family is spending money than its
income one of two Cor combination of
both must followed if bankruptcy is to be avoid
ed 1t is necessary to increase the income to over
take the outgo decrease the outgo until income
overakes it, TO increase income and decrease
outgo until they meet The wise family will recog-
nize this stern fact and act upon it.
Precisely the same thing is true of a state. The
finances of New Mexico will no more take care of
themselves than will the affairs OF family Money
is inert is without intelligence and performs its
feats only at the behest Of the minds of men. In
the family circle there is some one whose particular
duty it is to manage money matters. In the state
it is too often true that what is everybody's bust
ness is nobody's business and financial extrava-
gance and confusion follows in the wake of neglect.
This is democracy's greatest danger.
New Mexico's financial requirements have grown
by heaps and bounds. They have increased five
hundred per cent while population has increased ten
4 per cent and assessed valuation one hundred per
cent.
Either, income must be increased through the
development of new sources of revenue; eXpendi-
be curtailed, both must be done.
There is no other way out of it and hiding
heads in the sand will not delay the hour of our
financial embarrassment.
New sources of revenue be developed The
Special Revenue Commission says that one such
source is from the ad Nalorem taxation OF mines
and minerals. The commission does attempt to
say how much additional revenue can be derived
from this it will require expert assessment
of the properties to determine that feat The
Journal predicts that the increase will be several
hundred thousand dollars per year.
The commission also finds that the substitution
of system of professional assessors for our present
ridiculous system of political assessment will I'M
cover other large and varied sources Of revenue.
a. ,,.,lI, ,n,,II
No one except those who might lose job, or a
favored tax situation will object. We increase
our revenues
But increase income fast
enough to meet our present system, lack of
system, in expenditures. A strict budget system
must be established in place of present log
rolling political method of spending money. In
Vulnerable unnecessary, quasi unnecessary, of
fces must be abolished This reform will need
firm hand from the public, if accomplished. 1t
requires a painful major operation to amputate
politician from his job.
The imperative requirements upon for funds
must be We car not spend less sOr our
schools. In fact must spend We can
not lie backward about road-building or the pub
lie t.ealth and morals. These things must b.
turcd
But poor people compelled to do without
many things which they would like to have-and
New Mexico is poor Her lands are largely barren
and her mines only slightly developed. Our sources
of revenue limited We must curail outgo to
meet income. This must do intelligently We
must cut off what it will hurt least to go with
out
The Revenue Commission finds the mounted po
lice good place to begin the amputation. The
gasoline inspectors county road supervisors insur
ance commissioner and numerous other ornaments
do without. We simply must get along
without of these for we poor Confess
that to yourself and then face it as cold, hard
fact
The way to be prosperous tomorrow in New
Mexico is to be provident and economical today.
Frugality and imodesty in mode of living now
will create independence later
All have observed chow far money goes with
some families and how little others get for their
money. The intelligent, hard hoaded facing the
situation by the former explains the difference.
AS well know later that the people will
get little aid in efficiency and economy from the
professional politician. The politician viii do only
what is required of him in the line of retrench-
ment II
Al positive, rd-mouthed, head-strong determin-
alton on the part of the public is the only thing
which will prevent still being driven in the di-
rection of extravaganza by the men holding the
political lines.
y