The Lexington intelligencer. [volume] (Lexington, Mo.) 1901-1949, 1903-02-28
GOOD ROADS RESOLUTION.
PLAN SUBMITTED BY CHARLES c.
BELL, OF MISSOURI,
Before the Annual American Conference
on Good Roads at Detroit,
Feb. 10 and IA, 'O3.

publishes below the Bell Good Roads
and Currency Plan, which was drafted
by a committee of which Charles G.
Bell, of Boonville, was the chairman.
The conference voted to correspond
with Secretary OF the Treasury Leslie
NJ. Shaw and with the congressional
committee upon banking and cur
rency, before passing upon the "Bell
Plan" The Bell resolution is as
follows:
That for the purpose Of construct
ing good roads and highways, the
several states Of the United States
shall enact laws authorizing counties,
or road districts, where good roads
and improved highways are needed to
hold an election by the qualified
voters, who may by petition request
such an election to determine whether
a majority are In favor Of construct
ing or improving the proposed road
way, and if a majority vote In favor,
then 1t shall be lawful that said
county, or road district, as described
In said election by name, and meets
and bounds, may through its county
court or lawfully appointed commits
sloners, proceed to issue bonds in
sufficient amount to construct and
improve the proposed roadway.
Provided, they are under the exist
ing law in financial condition to issue
such bonds. And provided further
lAat the amount issued shall not
exceed-per cent Of the assessed
valuation of said described county, or
road district.
That said bonds shall become due
and payable from one to-years in
equal annual payments and bear in-
terest at the rate Of | per cent per
annum, payable annually, and that
said bonds be secured by and become
a lien on the county OF road district
Issuing the same.
That as soon as said bonds arc
properly executed as shall be pre-
scribed by law, they shall be forward
ed to the proper state official for
registration and endorsement. Said
endorsement shall guarantee on behalf
OF the state the payment of the par
value and interest Of said bonds. The
bonds shall then be forwarded to the
treasurer of the United States, who
shall, by authority Of congress, open
and keep an account with SAID bonds
and state, in the manner as accounts
are now kept with the national banks,
and shall issue IN payment thereof, at
par value "HatioaaI road cuyyeacyn in
the manner as national bank cur
rency is now issued, but in denomina-
lions not less than ten dollars, and
forward same to the state treasurer,
from whom the bonds were received,
to be used for the building and con-
struction of the roadway for which
bonds we're issued, and for no other
purpose.
Said national road currency shall
be legal tender with all like provisions
as national bank currency 10Y is, but
shall bear interest at the rate of one
half Of one per cent per annum; in
terest and principal payable at the
United States treasurer at the end Of
ten years from date Of issue.
On receipt Of the currency by the
state treasurer, he shall place it ia
the credit Of its respective road
organization account, and as the road
work progresses, as certified by the
lawful officials in charge Of the work,
he shall forward to said road official
such amounts as needed, who shall
sign and oouOuersign said national
road currency 10 The manner as the
oficials Of the national banks now
sign national currency, when it shall
be ready for circulation. Records OF
these transactions shall be duly kept
in the state and county records as
shall be prescribed BY law.
The county court shall annually
lew a tax at the time other tax levIes
are made, OF the respective road
bonded counties, or road districts,
sufficient to pay the annual interest