Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1881-04-09

BONDS.

As this is the last issue which will be
distributed gratuitously throughout the
county before the election, We desire 10
call the attention of voters once more TO
the special features of the bonding
scheme, which, we believe most frrcibly
recommend it to the taxpayers Of this
county.
In the first place no sensible man,
whether he he i'm favor of the bonding
measures or not, can fail to see that the
objects for which the money is to be cx-
pended are worthy ones, such ss are
needed in every county with any pre-
tention of importance. Whether we
cOurr-uv~wrerom a court house at the
present day or not we could not two
years hence, and it would be longer than
that before another legislature will meet
and give us a chance to then issue
bonds with which to make the necessary
improvements. The talk that some
anti-bond men make about the big as
sessment which we shall have this
spring. from which they argue We can
raise money enough to get out of debt
and build a court house and jail rs soon
as we need it, is all the worst kind OF
bosh. Even though we do have a big
assessment our taxpayers do not desire
to be burdened with an enormous tax,
SO as to clear off the present indebted
ness and to provide money for the run
ming expenses for the next year. Meth
er il We have a court house is it right
that We should foot the whole bill.
Those who will come in here during the
next ten year. will get just As nu h ben
eft from county improvements rs we
will and they should heara proportion OF
the expenses, which they would not do
were these improvements made by
direct tax during the next year or two.
The fact that if We issue bonds we will
have to pay eight per cent interest
seems a great bug-bear to some few, bat
those men evidently forget that the last
Legislature passed in act giving TO the
holders of certificates Of Indebtedness
seven per cent interest from the time Of
the presentation of their certificates
until paid. The deduction is plain. with
bonds we would have eight p r cent in
terest to pay and would have cash With
which to meet our necessary eupenses
and to build our county buildings, with
out bonds we would pay sever per cent
interest nominaliy and would have scrip
with which to work we would with
that run into debt at the rate of ut least
three dollars Tor one. Now let any bust
ness man look at this question as it
would appear to him if applied to his
own individual transaction. Without
bonds, suppose it were necessary to
procure FIVE thousand dollars worth of
improvements or that amount must be
paid in some II 10 pay ii with
scrip would cost this county, or any in
diyidual similarly situated. $1,000 the
interest ON that amount for five years,
or an average of the time during which
it would be accommodating, taking ten
years as the final settlement day would
be thirty-tive per cent. BY reason OF
deprecated paper instead of five thou
Sand dollars expended by actual indebt-
ednessi it would be fifteen thousand ortwo
hundred per cen bonus, making in all
at the end OF ten years 235 per cent to
be paid besides the principal of $1,000
The other with 5000 cash in hand to
expend for the same purpose, on settle
ment day ten years hence, there would
be the principal and eighty per cent to
pay. Can any man for a moment doubt
what would be the course that any one
Of these anti bond men would pursue if
the matter became Il problem in his own
private business?
Now some may think that in this article
the value of scrip is placed too low bat
We think not. The general opinion, ard
in fact the talk Of those who have
money with which to buy scrip, is that
should the bonds fail they would not
take scrip at thirty-three and one-third
per cent of their face. Up to the time
that there was a prospect Of The bonds
being voted it was about impossible to
dispose of scrip (even that that was Of
TIE ErrSrscgivaA " st41 trade at forty |
cents Oh the dosiar: At that time our
outstanding debt was not to exceed .four
thousand dollars. 1t is therefore worse
than useless for anti-bond men to now
claim when we have a floating debt of
over 5000, and II prospect of more than
twenty-thousand TO be added to that
within the next two years, that our
scrip will bring as much as it used to
even much less raise in value. The
plain facts are these, that with bonds we
will be in a prosperous condition, not
only as regards county finances but as
regards county improvements and build
ings we will have no rent to pay, and
instead of our county archives being