The pioneer express., 1910-08-12
the man who puts up the twenty dollars
has only paid twenty dollars with which
to cancel his debt of $50.

IHe iiltH WHO puts up tne twenty collars
has only paid twenty dollars with. which
to cancel his debt of S35.
This leaves Sl5., to be accounted for
from somewhere. In the case of a
100000. court house which Mr.. McB.
figures as sample for this county for
generation to come," this means that the
taxpayers only pay about s36.0 600 which in
time extinguishes $4,000. debt, leaving
$4,000 to be made up by compounding
the interest at five per cent.
Thus it would seems on Its face that
the taxpayers will get sixty thousand
dollar building for about $4,000. paid
in twenty equal payments.
But if Mr.. Mcbride should come and
borrow horse worth say $500, from any
taxpayers and return the horse after
twenty years, and then walked off just
saying thankyou, the owner would
wonder little, but that is just what
Mr.. Mob, and the Cavalier people want
you to do. They ask you to lend them
horse for twenty years, and Ethey have
the use of it for that time-only in the
case of the court house they also keep
the horse-and won't even say thanks,
if they do as they did with the signers
of their petition.
The money borrowed from the state
at four per cent to build the court house
is not the money that goes into the sink
ing fund. The money borrowed goes
into brick, mortar, wages, etc. The
money which goes to make up sinking
fund comes from the pocket of the farm
er. The former money as producer or
investment is forever dead. When
placed in the building as an investment
it stands for yearly loss IF interest of
s2,4OO.. even at Mr.. McB's very low
estimate of cost. Not only for twenty
years but for all future time.
. The money lent to balance the loss
and cost comes from the pockets of the
taxpayers.
1tiis their money that earns the sur.
plus interest If instead of being forced
to pay 1t out in taxes, undoubtedly the
most of them could and would make
that money pay in their business far
more than five per cent-and they would
have both the money and the interest
for themselves. Money is worth just as
much-and usually much more-to the
taxpayer as an interest producer than to
the county.
lit we're not 50 then few people
would be willing ia pay Mr.. Mob. ten
per cent for borrowed money-some.
times indeed for the purpose of paying
taxes-which in this case would mean to
borrow at ten per cent Of the bank to
make sinking fund" for the county
which will only pay five per cent.
Now, il we reckon money as valuable
to the taxpayer ss it is to the Cavalier
banks then by the payment Of one dollar
per year for twenty years. it compounded
annually ct ten per cont, the taxpayer
paying this sum would contribute very
hearly e68 70 the sinking fund instead Of
less than tS5 as calculated by Mr..
Mcbride.
But the banks Of the county Zone Of
which is controlled by MI. McBride)
would be holding this money st five per
cent and loaning it to some OF the same
taxpayers at ten per cent, and perhaps
that may be ono reason that he is 90
in his desire to have the court
house moved to Cavalier s'for the bone
Ct Of the people"
The making Of : sinking fund j. sim.
ply prepayment Of . debt. The fact
that the paymenta are scattered over
twenty years does not change the prin-
ciple in any way.
When you owe 60 much money at such
: rate Of interest, there has been NO
method yet invented BY which you can
pay the debt with lea than you owe,
though Mt. McB. triss q hasd to oon-
vince the taxpayers q tn contrary.
\ Evsn at M. MaRrids's osn p1rpsul iulsly
manipnls tsd figures lii l0oQp0 bargain
couatsr couIt houss woaid 90 sach ofl
IN no tsxpaysrs q ttS elatyi ~ |
ay,ssas = 4, ~ l = ls nj
1essi6t u lt g. tlatt Ilili = ~
r. T. sl !. y !, ,sais. ~! 4 4 { l ~ Il2
"a