San Marcos free press. [volume] (San Marcos, Tex.) 1877-1892, 1889-03-07
Mayor Hardy on the Proposed Issue OF
Bonds for New School Building.

| bohus ior u Now Scuooi bui'uihN.
We take pleasure in laying before
the public tho following article from
the pen of Mayor Hardy. II will be
found a dispassionate, common-sense
view OF the most important question
to the interest and progress OF San
Marcos, which has ever been submit
ted to vote OF the taxpayers, and
we'll supported by facts and figures
which speak for themselves. Al
though it only makes indirect refer.
ence to Judge Woods rather remark
able article in the Times, it will be
found to dispose Of it pretty eifoctu-
ally.
We may properly add in this con-
nection that Mayor Hardy was origi-
nally opposed to q similar movement
at Bryan, where he then resided,
and was compelled to completely
change his views by the subsequent
beneficial and benefcent effects which
followed its triumph. Even from the
lower ground OF pecuniary and ma
terial profit, it was found Of the
greatest benefit to the growth and
prosperity OF that city. Such is the
uniform testimony which comes up
from every point of the compass
where the plan under notice has
been put into operation from "great
cloud of witnesses" many Of whom,
like Mayor Hardy, were at first OPP
posed to it.
But We will not detain the reader
from the Mayors article by any fur
Their remarks.
LET US REASON TOGETHER.
The question now agitating the minds OF
the citizens of san Marcos is new school
building.
It occurs to my mind that the first ques.
ton TO determine Is, Is new public school
house necessity To determine this ques.
ton you haye only to take glance at the
miserable apologies we have for school
houses and compare them with school build.
ings in other towns Of any pretensions.
Now is it practical to build commodious
and substantial school building at this time
(not "a fancy school house"), without max
ing rate of taxation absolutely ruinouf
to the property interests of the city"3 Now
let US reason together awhile and apply
facts and figures, and think the most
skeptcal will be convinced that II can be
done without involving ruin.
The next question is as to the probable
COST of the building We will say $40, O0C
for the building and $4,000 for suitable
grounds to erect the building upon, hence
it will cost with the grounds say $l2,O
Now how to raise this sum of money is the
mkt question to determine. 1t can be done
by issuing city bonds to the amount OF
$4,000, to bear interest at the rate of
per cent per annum, payable in twenty
years, To pay the interest on these bonds
and create a sinking fund and funds tc
supplement the school fund will not neces
sarily involve levy of tax of over one
fourth of 1 per cent, or % cents on the
800 of taxable property In the corporate
limits of San Marcos.
The taxable property Of San Marcos for
the year 1888, according to the assessment
rolls, was something oyer $750,000. tax
of one fourth of per cent would raise the
sum of $1S75 per annum. Deduct the sum
of 1920 to pay interest on the bonds and
you have the sum of 81, los. Now deduct
the sum of $4O0 as a sinking fund and you
have left the sum of $755 to supplement
the school fund received from the State,
which, think, if carefully managed, will
be ample to give us eight or nine months
schooling for our children each year. Ii
anyone feeling interest enough in this mnt-
ter will make the calculation he will frd
that at the expiration of twenty years, when
the bonds shall mature, they will haYe q
principal fund of SO, 600. Now if the sink
ing fund rs it accrues should be invested or
loaned out at low rate of interest, say q
per cent per annum, you will have an inter
est fund of $4,504, making total of $12,
5O4 to cancel our bonds with. Now this
calculation is based upon only taxable prop
erty of $3.50, 900 per annum. 1t is not reas
enable to suppose that our town has reached
its limit in wealth, and we can reasonably
hope that in less than ten years with ordinary
prosperity our assessed value will reach one
million.
As to what taxes our legislature and com
missioners court may levy am not pre-
pared to say, nor is it involved in the ques-
ton we are considering. As before stated
the only question involved is, Do we need
a new school building and funds to run our
public schools eight or nine months in the
wear? If so are you willing to be taxed an
additional 25 cents on 300 for it?
But some urge hard times and scarcity
of money as a reason why we should not
undertake this enterprise. Now to my mind
that is the very best argument that can be
used in favor of building. If we had to put
our hands down INTO our pockets and pull
ont the cold cash we could not do it. 1t Is
proposed to borrow the money on long time
from abroad, at low rate Of interest, and
it would put in circulation the sum OF Sl2,-
900, which amount would be paid out to
our mechanics and laborers. who cannot
now find employment enough to support
their families, and every branch of trade
would be benefited by it.
tits urged by some that if we build this
school building it will retard the improve
ment of our streets. No one is more anx-
ious for the improvement Of our streets
than /, but 1 think that under the present
system il we use the necessary Judgment
and energy we can soon have our streets IN
good condition. Now We have something
over 100 hands liable to FIVE days road duty