The Caucasian. (Shreveport, La.) 1900-192?, 1907-09-24
lme, or good policy at any time

present movement Tor other and ullclio1
reasons. This is what that paper says III
part on the subject:
There can be no question that il
would be to the benefit Of Louisiana II
the debt could be materially reduced or
wiped out and tho interest charge dis
posed OF 1t is clearly the duty OF the
State to provide some sinking fund that
will gradually relieve us of the debt with
the least burden But these issues III
the campaign are more likely TO confuse
the voters and to defeat the fiscal qucs-
tons now before them. which ought to
he settled first than to do any good.
I Here is where the danger lies III this
new fiscal issue, that it may cause dit
ferences in the Legislature such as pre-
vailed at the last session of the G>ieral
Assembly. and defeated some OF the re
forms then proposed The friends OF
State debt reduction will call for the
maintenance of the present tax rate. FIVE
mills, in order to provide a sinking fund,
and this retention OF a tive-mlll tax will
mean. not only popular discomfort. but
serious interference with the work OF
placing the assessment on a far and
proper basis. When the policy OF uni
formity) i'll assessments, including as II
does raising them to the general stand
ard prevailing in most OF the parishes,
was adopted it was resisted by many on
the ground that it was merely scheme
to wiring more revenue from the taNpay-
ers. That suspicion was completely set
at rest by the reduction of taxation and
bv the promise that as the assessment
went up, the tax rate would go down.
If that promise be broken now. if IN
stead of reduction of the State tax to
four mills and finally to three mills, the
present rate is retained it will create the
natural belief that the property owners
are to be taxed to the extreme limit: II
will arouse the old suspicion and hostll-
ity and it will embarrass, if it does not
destroy, the promising efforts to secure
a fair, honest and uniform assessment Of
the State.
All This seems fair enough on the sur
face, but the initiated understand the
real import of the IDS plausible con-
tention for delay.
Sanders has about all the issues he
cares TO handle Just now. All his time L
required in attempting to confuse his
record, and to accord whole political
life of the past with its very present op-
posites. To burden him with sinking
fund" when the surplus keeps him 'on
the hop is too much for his great
ness.
The Times Democrat comes to the
rescue. Says that ponderosity: Gentle
men, keep quiet. You will. alarm tbs
voter, scare him over to Wilkinson or
| Jastremski, if you make more surplus
an issue, even if you call it sinking
| fund and sugar-coat it, paying the State
debt. 1t won't do-just now. just wait
until Sanders is in, and we have a Leg
islature of dummies elected and then
| well, we can see about it.
Behind the sea of words which the
I'd emts lies the above real purpose
in refusing to campaign the debt-paying
| issue, and in little while the little ring
of newspapers will silence their racket
| of oo,,, tho bonds v
| But let there be a Legislature sneaked
| in, Legislature composed OF subserv-
lent tools and corrupt shysters, and the
first thing you will hear is move to
| start a sinking fund with the present
surplus!
| Five years hence that sinking fund
will be five or more millions and LOUIS
lana will be politically debauched!
The United States provided sinking
fund for the payment of its bonded
debt
The bonded debt is larger today by
more than two hundred million dollars
than it was fifteen years ago!
And the surplus is one of the infames
of national administrations.
Pay the debt?
| Yes.
But no sinking fund!