The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1878-01-16
RELIGIOUS NOTICES.
METHODIST CPIsco -Prea ching
every Sabbath at halfpast | GA NJ, and
st Z P, NJ. Prayer meeting every
Thursday evening.
Rev. G. +. KINGs1.AND, Pastor.
b. CoNGREGAT1oNAL-. Services every
Sabbath at half past 10 4. NJ. and Z z,
NJ. as. Rev. j. Z. STORM, Pastor.

OBSERVATION-DISCLOSURES every
Sabbath at half past 10 4. NJ. and Z 2
NJ. @ Rev. J. Z. STORM, Pastor.
s@A5 The following from the pen of Hon
G., Fl. Chadbourne and is we'll worth
reading, we commend it to our Isant
county friends,
There seems to be good many
who either cannot or will not under.
stand the bond proposition, it being
frequently stated that we should have
to pay ten per cent. per year Of our
taxable property; let us see if we can
illustrate so all can understand. Take,
for example, the town Of Baldwin; its
assessed value is $4,000; now we is
sue bonds for ten per cent of that
amount, which is $4,000. payable iu
twenty years, and on that we pay ten
per cent. interest, which is $500 per
year. I presume three -fourths Of the
tax payers arc assessed for less than
$780, each, ten per cent. Of that $500
would be $50 to pay ten per cent in,
tcrest on which will be So, and 40
ceuts for town and comfy treasurcr's
fees. So We see a person assessed at
$500 will be liable to pay So 40 at
first if the railroad is built from Prin-
ceton. to Anoka, if it is not built as
proposed, the bonds according to con.
ditions cannot be taken up, and would
be worthless anyhow until the condi-
tions upon which they are issued are
complied with, that is the completion
of the road. Now, how many farm
ers is there assessed for $500 who
would not be glad to take the chances
Of making that extra three or four
times year; great many have said.
ooh, l would be willing to do that >
Now letus see what the prospect is OF
your haring to do that, more than a
year or two. We will suppose your
town doubles in value in the next five
years, by new settlers, increase, etc.
which is not improbable, Gas it has in.
creased from nothing to $4,000 in the
past twenty years without Railroad
We will say that the town assessment
in FIVE years is $4,000, our ten per
cent. bonds then would only represent
five per cent. of our property, and the
man who is assessed then for $500
his share will be reduced to $40, and
his interest from So 40 to 81 20; at
the end Of twenty years the property
ought to so increase in value in the
town that the principal would hardly
be missed. 1t has happened that the
town Of Baldwin did pay out between
$4,000 and $4,000 during the war for
soldiers bouLties, when there was not
half the property there is at present.
We shall, no doubt, feel the increase
in our tax at first, still the road will
be in operation before we have any
thing to pay and it ought to stimulate
business so we could easily make the
difference; and it ought also make a
sale for farms beyond what there is
now, so if the prospective tax worries
us we can sell out at any rate and get
away which we can't do now.
Another thing for every dollar of
bonds we issue we get stock in the
railroad company to the same amount,
and the stock will certainly do some
thing if properly managed towards
paying the debt. And for every share
of stock the town owns, it is entitled
through its representatives to vote for
officers and in the general management
Of the road, just the same as any other
Stockholders; so if the towns and coun-
ties furnish means to build the road,
they will own and manage it if they
see fit to hold their stock and do so.
But of course, what the towns may do
in the matter is only guess work; but
what they can do the law that allows
them to issue these bonds plainly
states. It is not unreasonable to sup
pose that the town of Princeton, with
its natural advantages for manufacture.
ing and surrounded by an abundance
of wealth in its crude state. should in
crease its population from 1000 to
10000 before twenty years expires,
and the country around cannot play
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