The Vinton record. [volume] (M'arthur, Vinton County, Ohio) 1866-1891, 1872-07-04
The misunderstanding the
Cost. -

On the outside OF this npm5
Der of the Record we publish
the new railroad law under
which we are TO vote on the
23d inst. on a proposition to
build railroad through Elk
township. We ask a careful
perusal of the law. 1t will be
seen that the peoples interests
are carefully guarded; that
the money if voted will be
spent in the township, and
then only on the completion OF
the work. Other objections,
or fears rather of what might
be done, are guarded, leaving
us to consider only the cost OF
the enterprise. Our township
duplicate of last year shows
over 100000 worth of proper.
ty. On this it is proposed to
issue bonds to the amount of
$4,000, payable in equal in
stallments at the end of II, IA
16, 18iiand- 20 years, bearing
Z per Gent. interest, payable
annually. The interest on $685.
900 at 7 per cent. is 1850. To
raise this sum it will be neces-
sary to levy a tax of 24 mills
on the dollar, or 25 cents on
each hundred dollars COM
mencing two years hence; so
that if your property is valued
at 800 your share of the tax
will be 25 cents; il $500, your
tax will be 1925; if $1,000,
$3.50. Can we afford to pay
it9 We can; we can not af-
ford to lose the opportunity to
do it. 1t will open our mines,
blish furnaces, make a bet
ter market for produce, give EN-
ployment to our laborers and
mechanics, increase our popu-
lation and increase our wealth.
But In this article we pro-
pose only to discuss the fDan-
clal view of the proposition as
closely as we can, and 10 do
that substantially on the pres
ent township duplicate. We
have shown how the interest is
to be provided for. Now tor
the principal. The first in
stallment is due twelve years
after Issue; the last, twenty
years. The M. &. @. r. r. has
been finished about twenty
years, and has paid annually |
into the county treasury over
$4,000, making a gross sum of
over 100000, thus tightening |
tie burden of taxation from
the people of the county in
nat sum directly, besides the
indirect help it has been in in
creasing the value of property
along the line of the road. 1t
has paid directly into the treas
ury Of Elk township each year
as our share of the sum above
mentioned, between 81 900 and
ST 10O,or a gross sum of over
$4,000.
1t Is safe to say that the new
rad will pay still greater
sum into our treasury as it will
cross our township diagonally
giving US more miles OF road
tn an the NJ. & Q. Then the rail
road itself will pay by taxation
not less than $4,000 of the
$25, 900 directly into the town
snip treasury, while it will les
son our proportionate tax in
the county by what 1t pays in
to other townships more than
the other S., 1000. But, says some,
your figures look too favorable
t. be true. We say TO all such
that they are taken from the
duplicate; we present them in
tie only light in which we C an
zee them, and guided by the
! 'st we estimate the future
] they can figure out any
iling different we invite them
10 use our columns in laying
iheir facts before the people.
Again, the township dupll
cnte in tue last twenty yeas
h } increased from $4,000 10
100000. 1t is safe to say that
ib1 lJ.k..I