The independent. [volume] (Oskaloosa, Kan.) 1860-1874, 1865-09-09
Saturday, September 8, 1865.


Railroad Bonds.
We now have . definite basis upon
which to acl 10 this matter. The Com
missionsrs have postponed the election
until the 30th inst, and remedied the
omissions Of the former call, 20 .ha,
now We have solid ground upon which
TO stasd. The road must run twenty
miles in the County. and The range is
between this place and Grasshopper
Falls. That 10 definite. We have fel.
oil the time that the friends Of the mea-
sure were laboring under disadvantages
heretofore which outweighed all their
1abors: now they can 60 to work with
. will.
Let us now briefly recapitulate the
arguments. We pay $3.50. 900 princi.
pal. and If the bonds run 80 years. 81
70. .0OO interest, or total of 942O. 600.
II We count the interest as compound,
1t will be about $3.50, 900 more, or .
grand total Of $3.50. 600 paid out. For
isiis Ne got sl5O, 900 10 stock. and 90
miles ofrailroad. Al Sa5.6oo per mile
this will b worth $500. 900. Total
$3.50. 900. Besides this We get an sd-
vance on the price Of land of five dol.
lars an acre for distance of FIVE miles
on either side Of the road. There will
be two budred square miles and 1880.
90 acres. Deduct say one-third for
waste and margin aud We have left 65.-
335 acres which =. s5 per acre: the
gain in price. will realize the sum of
e426. .676. This amount is esrtainly
within the bounds, for the land outside
Of the Eve miles will b. enhanced 10
value enough to make up for all def
ciencies. To this sum may be added
st least half As much more for personal
property that will come into the eoun-
~. say $500 600. These pat together
give as the handsome total of 81, ,276.-
S75. bat to put j. in bounds again,
say 81 zoo, 900. And We caa count
on this sum for at least fifteen years Of
the thirty The interest Of 81 200. 600
for fifteen years 1t six per cent. will be
$1,000. 900. against sa70. 900 on the
bonds gain Of Of $4,000. These
figures may seem large. but We have
certainly made them within bounds.
But what We are most interested 10
- the matter Of TAXATION. Will not the
burden oftbe tax on the $50. 900 stock
be very heavy? 1t NAY be felt little
At the 6rst. But look he,e. The bonds
are not issued. aad the interest is no.
assessed until the road is completed
We will then have $500. 900 of railroad
property 10 tax. which At 10 mills to
the dollar will yield revenue of e5. 600
ayear. leaving but o.. 900 Of the inter.
est to he paid BY the County annually
At The start. It is but fair to suppose
that the iucrsas Of property 10 the Coun.
y resulting directly from the cons,ruc-
tion Of :be road will pay these 81. 900
so that the taxes will not be increased
at al in amount on the present proper.
~ taxed. But even II there should be
. small increase for the the FIRST few
years-say two mills on the dollar for
FIVE yssrs. or tee mills altogether (only
one per cent. in Eve years) will this
feathers weight Of taxation stand ia the
way ss ell Of the great advantages 70
be derived from the road? And then
remember that after the Eve years the
taxes will CONTINUALLY be less and less.
and that for fifteen years Of the time We
shall have at least 81. zoo. 600 to tax
mors than ws would, il the road does
not come. At ten mills an the dollar
this sum will yield . revenue annually
Of eI2.0 600. enough to pay the interest
on tbs bonds and 13. 600: aud leave
The rest Of the property 10 the County
THAT 10. the amount We would have
without tbs road to be devoted 10 such
improvements - the County will need
in the way Of buildings, schools. roads.
bridsss. etc.
A liberal policy begets liberal:ty. and
development muldplies itsslf. Give us
good railroads and ws will soon want
good County Baildings.>
Another thiag not 70 b overlooked
/. his: II the Cosoty sabscr,bss el5-
1000 stock 10 the Railroad. i,s faith
becomes pledged; every acre Of land is
bound for the amount Of The interest.
and THE becomes IN argument Of the
strongest aud most unanswe ersble kind
against eating foot Of Territory from
our limits for u least thirty years.