The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1907-05-03
(continued from second page.)

III OIueT that lMcS may iCdfS ooAAS7
thing for their children. when they,
have gone. They have
no possibility of getting anything out
of It for themselves. j
Some will say I'VE do not want to
wait always. Vote the bonds and lets
have the roads at once" Those favor
ing the bonds give themselves five
years to spend the 100000. If in five
wears they propose to build go miles
Of road with the 100000 lets see how
We will manage without the bonds.
We have just collected s3,750 road
tax for the year 1906. Now II we null
tiply this by eight we will have $780,
600, an amount equal to the bond is
sue. With the taxes remaining just
as they are let us see what We can
do without the bonds In the same
length of time as the money from the
bonds is supposed to cost. If We null
tiply ss7,500 by five we get 1900
At $4,000, the estimated cost to build
one mile, we can with this amount
build SIN miles in the five years, and
be out of debt.
II the bond issue is passed we build
60 miles of road for $500, 900, principal
added to which is s2O4.750 interest
making total of s504.750. Without
the bond issue We have in five ye1Fs
completed S7Is miles with $1S7,5O0
This leave is 221a miles to build in
order to be up with the work done
by the bond issue and 81 years to do
the work.
substracting our s1s7,50O from the
total cost of the 60 miles worked by
the bond issue we will readily see that
this last 221s miles will be the diff
ference between $504.750 and $751;,
which Is sS17.25O. This makes the
last 221s miles cost s12.S22 per mile
Now lets see how long We have the
use of these 221a miles of roads for
this exhorbitant sum Of money. With
the bond issue the whole so miles is
builded in five years. Without the
bond issue they are builded in eight
years, making a difference Of three
years. Thus we see that the average
extra turn that we would have tht
use of these 22Is miles OF road would
be IL years. As has been stated i
will cost s12,322 per mile to build THU
221s miles. Now to see what we arr
paying extra per mile for the use @
this road for ~ years. Putting tn
estimated cost at $1,000 and seeing
that these 221s miles Of road will act
ually cost s12,322, We find by sub
tracing $1,000 from s12,322 that tn
extra cost We are paying per mile TO
the use of these 221k miles Of roa
for IL years is 1892. do not thin
tht our tax payers are able or viii
ing to aaord such unnecessary luxI
ries.
Now II we issue the bonds what ar
we going to do about the building {
more roads when We spend the $500
900. Out Of our $500 present take
We will have to pay for sinking fun
and interest $4,000, for guard hir
there will not be less than $1,000 an
when You spend this together wit
what will be necessary to spend
keep the bridges up, feed the priso
ers. ETC., we will hairly have enoue
left to keep the already macada
roads in good condition to say not
o ing of building new roads. Therefor
= II there is any more new roads bull
ed we must necessarily either raj
. the tax or heap another debt on Il
= county.
In order to meet the demands Of d
sinking fund and still have our pre-
!. ent road tax remain over and abo
that amount We must increase q
taxes 10 cents on the 800 or ell
raise the assessment Of property fro
sl7,000,000 to s24,000.000 Tin rou'
numbers.) Thus you see while sor
claim that we can pass the bond
4 sue and never feel II from moi
tary standpoint yet II We continue I
IDuilulHS u EOSu IVaa7 every ia pay
in the county Of Durham will be
fected because Of necessity he v
~ either have his taxes raised or e.
his property will be assessed higf
- which amounts to the some thing.
=. In conclusion I would like to 8
>" that the position I take against boz
is not caused By any mistake ma
by the author Of the act, as I belle
he did what he thought was right,
! believe and hope that II the vot'
Of this county will look into the IA
n the case and give the matter d
consideration they will see that
only wise thing Is 10 defect the bon
E. C BELvN
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