The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1908-01-18
Some Campaign Arithmetic.

ton" and in the next breatb nrcia''e
that the State debt, which eats ny
every wear twenty-six per cent OF thr
tota, State property tax. ~ "a mere
shreveport Times.
Since it takes 26 per cent OF Lou
isianu's presen. revenues to pay the
4 per cent per anuum interest due Oh
the debt each year, we should IKE
for the editor of the Shreveport
Times tn tell his readers what per
cent it will take To pay the entire
principal and interest OF tins dent.
A little figuring will show that IL
will take all of the States revenues
for about eight years to p"y the pr'h
cipaI and interest of the debt IN qnps-
tim OF course it is absurd to talk
about taking all of the States rev
enurs each year and devoting 1t I"
the payment OF the debt. But that
proposition is scarcely less absurd
than the proposition to create u
"sinking fund" for the purpose o'
pnying the debt.
The public schools OF the State are
hound to have their fund remain IN
taft and the M mecan be said Tor all
az the funds to which the States rev
.uues are appropriated. This being
the case, there is no considerable
amount Of the present revenues t''a'
could be devoted to u sinking fund.
And. should such "a fund I've created.
under present conditions it would
take about forty years toget togeth-
or enough money to pay the debt.
However, we are not disposed 10
at this time thresh over the nun'er-
ous arguments that have been All
yanced against Mr.. Sanders sinking
fund proposition. We believe that
Mr.. Wilkinson's position on this ques'
ton IL to the trueinterest OF the tax
payers, and that his arguments
against tnking action to meet the
debt at this time are we'll founded.
While ut Colfax Mr.. Wilkinson salt
the more he discussed this subject
the more apparent it became to hin
that it was not proper at this time
to arrange to pay this debt, which
does not mature until 1914. Tn
Legislature will have ample time e
arrange for paying the debt four %
even six years hence. One oil tn
strongest reasons for delay IN tn
matter of retiring the debt, Is tin
fact that at present a large nun'br
nj railroads and manufacturing con
Germs which have been exempted D.
law from paying taxes for ten years
will between now and the year l9l4
begin to puy their golden stream Q
tnxes into the State treasury. In
big influx of funds from the railroad
and manufacturing concerns VIII !
large measure help to take care OF tn
debt without any wise increasing ta'
alton. and the bulk Of the 'peopl
will thus have the burden OF payin
the debt most materially lightenet
The use of the money IL fully wort
a Der cent interest to the people, an
mo- money can be had topay the del
at any smaller cost.
The Shreveport Times and its dl
plicnte the Baton Rouge State, pre-
fess to think it absurd to put oil Il
( payment Of this debt. and they col
tend most strenousiy for Mr.. Sal
(; dprs' sinking fund proposition, I
nile I'D money for the next SIEVE
years to come in some favored BAN
in order to pay the debt. True,
that time they may not he able
vet together more than one-half OF
million dollars to pay on the elev'
million dollar debt, but then 1t "
be ~ good thing for the bnnk thu
holds the cash. That is the vel
thing the people object to, and, II
are any Judge, they propose to va
against Mr.. Sanders and his schen
They figure it out that MIR. WIKI
son has the best of the argument
this question. just Ms he has on st
eral other matters of c0ntrovers
and their knowledge and comm'
sense is arithmetic enough to tea
them to vote for Wilkinson, who
lieyes this money can be used for {