Weekly graphic. [volume] (Kirksville, Adair Co., Missouri) 1880-1949, 1896-04-17
THE COURT HOUSE BONDS.

that matter is disposed oil lor all
time. If court house is ever
built it will be built on the site
selected by the people. All are
agreed that urt house is badly
needed. 1t now only remains to
Iaise the necessary $4,000, ano
the best method of doing this Is
the question to be considered, and
it should be considered only from
a business standpoint.
There are some who favor a
sinking fund, to be raised by in
creasing the tax levy for five
years, others favor five year
bonds, a small portion of the tax
payers favor a single levy that
will raise the entire amount in one
payment of taxes A large por-
tion of the taxpayers, however,
favor $40 bond, that is a bond
that may run twenty years or be
paid in five years at the option of
the county court.
If we provide for sinking fund
to amount of $50, 900 in five years,
the money cannot be loaned to ad
vantage owing to the shortness OF
the time, and would therefore
have to lay idle in the vaults un-
til ready to be expended on the
binding. This would entail
l)ss in interest for the five years.
amounting to 5000. Add to this
rent for five years at $1,000 per
year, the amount we now pay, and
we have a clear loss of $4,000 by
the sinking fand method
The five year bond is open to
the same objection as the sinking
fund method as it entails the sane
loss in interest. The only thing
in its favor, the court house could
he built at once instead of waiting
five years, and would thus stop
the $1,000 year rent The single
tax levy is Objectionable because
of the extreme burden it would
place upon the people under the
present business depression.
OF all the methods considered
the 500 bond is by far The most
preferable. These bonds would
draw only five per cent and would
sell at premium that would at
the final settlement of the debt,
reduce the interest to four per
cent per annum. Owing to the
length of time the bonds would
have to run the sinking fund could
be readily loaned at per cent,
and thus not single cent of the
peoples money need lay idle.
This accrued interest, together
with the amount of rent saved
would 90 far toward paying for
the building. If at any time after
five years the money could not be
loaned, it could be applied toward
the discharge of the debt as the
5-20 bond gives the county court
that option.
There are some who object to
bond issue because they are afraid
it will increase taxes. This will
not be the case if the bonds are
voted. For many years the coun
ty has been providing a sinking
fund for the discharge of the rail
road Indebtedness This debt is
now provided for and the money
which has been at interest is ready
to pay off the entire bonded in
debtedness of the county. The
taxes hereafter would be less than
they have been if the court house
bonds are not voted, but voting
them will not increase the rate OF
taxation above what it has ben
for many years, and careful cal
culation shows that even with the
court house bonds it will be slight
ly less.
The people have selected the
site; the bonds are 5-20's, the
most economical that can be issued
because every dollar of the sink
ing fund can be placed at interest
or applied in the discharge of h.
debt: "A court house is needed be
cause the records are liable to be
stroyed by fire at any time: labor
is cheap, and there will never be
a time when the money distribut
ed to the working men will do
more good. Besides all this it will
give new impetus to business.
and thus benefit every citizen of
the county. Is there any reason
why We should not vote the bOndss