The Marietta journal. [volume] (Marietta, Ga.) 1866-1909, 1907-01-24
BOND ISSUE.

EDITORS JOURNAL 81 proposed TO give
some figures in this issue relative to
the proposed bond issue, and shall try
to do so, but first, few general re-
marks:
The sentiment is we'll nigh unanimous
that the time has come when our pub
lie highways must he improved on a
permanent basis. To this, all are agreed.
There is difference of opinion, how
ever, as to the best and most business
like method to pursue in accomplishing
the work. There are two plans pro-
posed, one by the first weeks grand
jury, and the other by the second weeks
grand jury. I propose to discuss these
plans, not with a view of criticising
either, but with the hope that an open
and fair discussion may help towards
arriving at the most satisfactory con-
clusion.
I shall take up the second PROPOSE
ton first. Stated briefly, it is this:
To increase The Communication tax from
$3.50 to $500; increase the property
tax to limit of 20 cents for road pur-
poses, and put the changing on the
roads. This plan would bear very heav-
lily on the poorer people of the county,
who would be the least benefited by the
road impreS ement, and it seems to me
that it would be an injustice to them.
Every man from 16 to so years old
would have to pay $500 road tax, be-
sides the increased property tax. This
is a small matter with some people, but
it is a serious proposition to the poor
man with several boys subject TO road
duty.
There is another featuIe I desire to
call attention to here. The changing
can be put on the roads under either
plan, but when you do this, you bring
the convicts in direct competition with
free labor. believe that the laboring
man who obeys the laws and contrib
utes his share towards n1aintaining the
county, should always have the prefer
ence. This plan would give about $I8,-
600 to 500, 900 each year to spend on the
roads, which, after allowing for the
common road work, bridges, ETC., would
leave perhaps $4,000 TO put into per-
manent improvements-enought to build
about four miles of good road.
With Marietta, Roswell, Kennesaw.
Acworth, Powder Springs. Austell, Ma
bleton and Smyrna, and other sections
Of the county, all paying their money
into this fund and all entitled to fair
treatment, it is easy to see that some
of them would get tired Of paying their
taxes while waiting for the improve
ments to reach them.
Now to the bond proposition:
The bonds are to bear AZ per cent.
interest, and all to be paid off in thirty
years. There is no sinking fund to lie
in the treasury thirty years, but in
stead 1000 of the bonds are to be paid
off each year, thus stopping the inter-
est on that amount each year. The
bonds will be issued as the money is
needed, and Of course there will be no
interest until they are issued. The
bond question, briefly stated, is this:
We borrow the money at AZ per cent.
interest, and pay it back in thirty an
nual installments, the payments de-
creasing each year as the interest de-
creases. Besides, we have the benefit
and use of the entire investment du-
ring the whole time we are paying it.
Now. what effect will it have on the
tax rate? 1t will make the rate about
65 cents at the beginning, gradually
growing smaller each year. This is
based on the present taxable values.
But when this money is invested in
tirst-class macadam roads, you will see
the wealth OF the county go forward in
leaps and bounds. People will come
here from all directions to invest their
money, and in few years, instead of
tax digest showing six millions of dol
lars it will be ten millions, and the tax
rate will decrease correspondingly.
How do know this? l know it fforn
the history of every community that
has improved its highways. 1t has been
so in Alabama, Tennessee, North Caro-
lima, Kentucky, Ohio, New York, New
Jersey.
Now these are the two propositions.
Let every man study them for himself.
This is matter that should interest
every man in the county, white and
black. Every farmer should be intense
ly interested, for it comes directly to
his door. Every business man should
be interested, for the highways furnish
transportation for the distribution of
all his merchandise, and his business
depends on the prosperity of the coun-
try. Every citizen should be interested
for it means to make Cobb county the
best and richest county in the State
The people of Cobb county have pulled