The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1922-09-08

At the first meeting of the County
Commissioners in September, the
County treasurer appeared before the
Board and recommended that they call
S145,000 of the 1918 Seed Grain Bonds
issued April 1, 1918 and due at the
option of the Board of County Com
missioners by giving 80 days notice,
four years and six months after date
of issue, which will be October 1, 1922.
The whole issue will be due on April
this issue, amounting to $245,000 can
hardly be met all at once, on account
of such large amount of the sinking
fund being tied up in the Sheridan
County State Bank. It was therefore
very good plan to take up $145,000
at this time, and there would be only
100000 left for next April, v.hich
could be met if fairly good collection
is made for taxes this fall.
Jud Matkins Immediately recon-
mended that the call be deferred to
some future date in spite of the fact
that the attention of the board was
directed to the 30-day notice which is
provided for, and of course the call
can not be made at any later date un-
til the bonds are due. If $145,000 of
these bonds were called at this time,
it would mean a saving to the county
of $5075 in interest from Oct. l to
April l, next, which Jud did not want,
for he was afraid that if the farmers
administration was permitted to re-
deem bonds, it would put him in a
bad light, because as long as ne has
been County Commission, he has done
nothing but run the county deeper and
deeper into debt. Reg. Tyler irnnedi-
ately took the hint from Jud and they
both agreed that it will probably be
best to let the call go and then bond
have spent all of the Daniels County
money at that time. Jud and Tyler
are very much interested in knowing
how much of the Daniels county
money they can get into the road
fund for the benefit of their friends
and County Surveyor Link. Jens Ib-
sen expressed himself in favor cf the
call for the reason that the county has
the money now, but it may be differ
ent story next spring, if Jud and Tyler
have their way about the county af-
fairs. So Matkins and Tyler simply
let the opportunity to save over
$500000 for the county go and repri-
manded the County Treasurer fo3 not
letting them know in time to consider
the matter (Which they had ample
time to do at this meeting if they SO
desired).
The law provides that the Board of
County Commissioners shall make call
for bonds when the county is ready to
redeem them, and their attention has
been called time and again to the fact
that the Seed Grain bonds are payable
in the near future, and Jud Matkins
was one of the members .of the board
when the Seed Grain bonds were is
sued, and he knew all of the time that
they were callable on October /, 1922,
and it was therefore the duty Of the
Board to ascertain how many of these
bonds could be called at this time. and
it was Their. duty to make the call, for
they knew that the Daniels county
money is available with which to pay
at least S145,000 Of these bonds, and
that is what the Daniels county money
is for. 1t is another demonstration to
the taxpayers of the hopeless incom-
petence Of the commissioners and
their designs to block every pre- cgres-
rsive move of the county ad1ninist alton
to redeem the county from it's e~orn
Gus debts and reduce the iTzeresf
which now amounts to practically a.
much as the cost of running the coun
ty, and if the interest can be reduced
to the minimum the taxes can then b,
reduced point. where they cease to
be confiscatory.
The States of Kentucky, Nebraska
and Kansas have no outstanding bonds
whatsoever, and the taxes in those
states are the lowest of any il The
United States. Sheridan county has
about s1,2O0,0O0O0, including fao
school bonds. but not including city
bonds, and the interest on this huge
debt amounts to about $80,00O00 per
year. The total county expens IS for
all of the county offices (includi1g p tiss
attorney fees, necessitated on accoug
of the policy which the old gang ITO
sued: of placing almost all Of tE
| county money in one bank) amounted
to $90,306.82 last year. You will note
/ therefore, Mr.. Taxpayer, that your
county government can be maintained
for less than the amount necessa- v to
pay interest on the county indebted
ness. Would you then support Mr.
Matkin's policy of rebonding each time
any bonds came due, which policy i
now also adopted by Reg. Tyler, OF
would you work for sound economic
policy of retiring the bonds as they
come due, and reduce your tax turden
by $50, 10000 per year?