The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1902-01-14
Railroads :. 25,359,273 270il,2i3I

These figures show Il total increase
in the taxable values for the past year
Of $9,G1S,J77.
For further Information in regard to
this. department your attention is Ill
rcctcd to the excellent and suggestive
report OF the Comptroller General.
SINKING FUND.
In my last Message to the General
Assembly attention was called to the
fact that at that time $2i ,030.Si OF tho
$3.50, 202.23 Of assets OF the Cumula-
tive Sinking Fund for Reduction Of ).
&. Brown IA per cent. were on deposit
in banks. and although drawing 4 per
cent. interest were unsecured, except
by the credit Of the banks wherein de-
posted. This condition no longer en-
lists and there is now OF this fund 50
deposited in banks only $50 1858. 81,
which Will soon be drawn out to COM
plctc the State House loan. This has
been accomplished during tho past
year by thC loan Of $l23, l6l.37 under
tho Act OF 1900 '"I'o provide for the
completion Of the State House." and
by the purchase during the past year
by the commissioners OF the Sinking
Fund of S. G. Brown Az per cent.
bonds and stock Of the aggregate face
Valuo OF $7S.012.00. These bonds and
stocks have been under the law con-
vertcd into S. G. Brown Az per cent.
stock issued in the name Of the Com
missioncrs Of the Sinking Fund, and
alth ouGh purchased at 4 premium, be-
ing AZ per cent bonds, will until ma
turity pay almost, If not quite. 4 per
cent. on the price paid. Under the
trust this is an ideally safe investment,
being made in the very bonds tho fund
is created to retire.
The deposits in banks, unsecured OK
cept by the credit Of the banks where
in deposited, pay only four per cent.
interest, and this rate Of interest is
liable at any time to decrease, should
interest and the demand for money at
the money centres decline.
On December 3lst, 1901. tho assets OF
the Cumulative Sinking Fund for Re
duction Of S. c. Brown Az per cent,
amounted to $420, ,515.52 invested SO
as to yield from four to five per cent.
interest The assets Of the ordinary
Sinking Fund arc now $40 1922. The
assets OF tho Insurance Sinking Fund
for State insurance Of public buildings
amounts to $3,111.22.
GOOD ROADS.
During the past year there has been
4 general awakening throughout the
country on the question OF
Good Roads and In every section
great interest has been manifested
and movements begun looking to
the Improvement OF the public high
ways. There is no question that more
directly and more generally concerns
the great body OF our people. The
South has possibly been Il little slow
in this matter, and the effects re-
sulting from her negligence are plain
ly to be seen.
For the past few years there has
been n great influx Of people into
our towns and cities and these have
rapidly built up at the expense Of the
| surrounding country. This is an evil
which II possible should be rcmedied,
| for It is to the people Of the country,
and not to the towns and cities, that
, tho State must principally look for
| the preservation of her institutions
| One Of the prime causes Of this great
| flow Of population into tho towns and
| cities is to be found in the condition
/ Of our public highways. In most of
, the counties in the State during Ger.
| tain seasons Of the year some Of the
roads are altogether impossible, and
! all communication and trafilc with
the cities and railroad points is cut
! off. Such a condition Of affairs must
| work great hardships, especially upon
tho rural districts, and the people of
| the rural districts compose the great
majority Of our population.
Leaving out of consideration alto.
| gcther the evils resulting from the
condition Of our roads, however, and
looking at the question from purely
business standpoint, good roads
pay, and are one OF the
! best investments which can
be made by County or State
! Under our present methods of road
building, 1t is necessary to rebuild
the roads after every washing rain
while If we built good, permanent
| roads. the cost Of keeping thcm In re
! pair would be a very small item in
| comparison to what our present roads
are costing. In fact, the saving in
not having to work the permanent
! roads so often, would in a very short
time pay for their building. This has
| been found to be the case wherever
| good, permanent roads have been
built.
From the Seventh Annual Report
| Of the Commissioners Of Public
| Roads for the State OF New Jersey.
| one Of the leading States in the Good
| Roads Movement. the following is
| taken merely to show in what respect
good roads are held by the people who
! have used them and know Of their ad.
vantagcs: "rhc people seem to be so
| wonderfully impressed with the idea
that by good roads the value Of land
will be increased, transportation
Cheapened, travel and business at
tractcd, school houses and churches
filed, and civilization advanced, that
they arc praying as earnestly for
them as for great riches. Consequent.
| ly the pressure for new roads is so
great It. seems almost impossible. to
hold the people back. They arc so
anxious that they are not willing to
' cOnfinc themselves within the limit