Barbour County index. [volume] (Medicine Lodge, Kan.) 1880-current, 1905-09-06
SMALL INDIVIDUALLY.
Individual Obligations Caused by Pro-
posed X. r. Bond Issue Would
be Lighl.

opposing the Denver, Kansas g.
Gulf railroad bonds in this county
on the ground of the great cost to
the taxpayers do not, seemingly,
stop to figure what it would cost
the individual taxpayer. In Bar
Der county there are 1886 quarter
sections of land. If the total
amount called for-$Ioo, ,ooo-
were issued (Which will probably
not be the case, since there will
be no more than 49 miles of the
main line in the county and $4,000
per mile is the limit and the land
outside the cities had to meet the
debts 5000 per year interest and
100000 principal, in 20 years
it would cost $I.Io a year per
quarter section for interest and
$22.o5 to cancel the bonds when
due. But when you figure in
the city property and the personality
this amount will be reduced near
ly one-half, as the city and person
al property valuations very nearly
equal the farm and grazing land
valuations. If the average tax
payer bought only one ton of coal
year he would save twice as
much as his part of the interest on
the bond would be, and if farm
er shipped only $50 bushels of
wheat he would make enough in
that one transaction, by virtue of
a short route to the Gulf, to pay
the average taxpayers share of the
bond debt. The rate on wheat
from here to Kansas City is about
IL cents and from there to the
Gulf about IS. The new road, to
put it conservatively, would GER
tainly save the cost of freight be-
tween here and Kansas City.
Another feature that is often lost
from view, in connection with rail
road bonds is the fact that the
county will receive stock in ex-
change for bonds. 1t is hard to es-
innate the value of this stock but
In similar cases it has been known
to sell for par after the road was
IN operation several years, and
quite often for as much as so pei
cent. When we talk about $Ioo,
600 we put it in its worst light. The
probability is that the obligation
as finally adjusted, will be much
less.
The election is more than &
month distant and the voters will
have ample opportunity to pass or
this question with deliberation.It is
our purpose to furnish such figure:
as are available so that our read
ers may be informed. We showed
last week that the proposed new
roads, based on present railroad
valuations, would pay nearly
100000 more back to the people
in taxes alone during the life O
the bonds, than they would receiv,
in the way of interest and princi
pal, and from the foregoing figure
1t is apparent that the annual in
tereSt would not be more than s.
or 90 cents per homestead, if th
entire obligation had to be pait
through tax on real estate, pro
vided we are permitted to say tha
the average city property is equa
in value to the average quarter sec
tion of land; and if the entire obi
CATION had to be met by an assess
ment against real estate alone l
would not cost to exceed SIS pc
homestead. What property own
er in the county would not be vii
ling to subscribe this amount t.
make wheat worth 10 cents NOR
on the market and corn, hogs am
cattle in proportion? Who woul'
not be willing to give this amour
to insure a saving of only 81 pc
ton on coal and 10 per cent OF
lumber, saying nothing about low
c,r 1,,n1 .naccar, crer RI fes and bette