The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1910-06-24

of long time bonds is that the cost
shall be paid in the future by the
younger generation who will share the
benefits. The sinking fund idea des-
troys that theory in that it collects all
extra amount from the present genera
ton to meet the future payments.
The sinking fund" idea is just like
farmer who borrows hundred dollars
from the bank at ten per cent interest
for year. At the end of the year he
appears at the bank and pays his s1lO
in full and hoasts that the hundred
borrowed dollars has cost him nothing.
On inquiry, he said, "Well,, I let my
neighbor farmer have horse during the
summer and harvest at dollar day
and he had the horse Just ITO days, and
that is the money l have just paid you.
so it was the horse and not myself that
paid the debt"
If Mr.. McBride's theory is true, we
perhaps may get some idea of how the
bankers get rich. All they have to do
is to borrow money at four per cent
and loan it out at five per cent, pay the
former and keep the balance. Guess we
would all be bankers on that theory if
we only had few thousand ''horses"
saved from our salaries-to start on.
But we do wish we could get the
Cavalier folk to agree on prices of new
building. The Chronicle man started
with 500 building and later gradual
ly increased until he thinks that S50O00
might do while Mr.. McB. says Suitable
buildings can be erected for CSC, 900 and
for proof refer to the two LETTERS Well
let Us refer, and we find from the archi-
tects that the "cost of the entire build
ing (of Foster county, is about $4,000.
Out of this $40, 900 will be expended on
the Sheriff's residence and Jail leaving
the court house 10 cost S65,000." And
again the architects say, "You can
figure that court house alone without
sheriff's residence will cost you all the
way from $4,000 to $1,000 according to
material and finish" Then comes the
Auditor Of Foster county who says "beg
to advise that Foster county bonded for
S75, 600 with which to build court
house and Jail. The general contract
has been let for s59, ,235 for both court
house and Jail.
In the face of these statements Mr..
McB. bases his figures on only $4,000
issue of bonds, while at the same time
admitting that 1T will take $4,000 to
furnish and fit it up after it is built, and
then tries to fool the taxpayers into the
idea that even this much won't cost
them but trife, the .'old horse" paying
the rest of it. As we have previously
stated in these columns, if we borrowed
100000 from Mr.. MoBride's bank of
Cavalier for twenty years at four per
cent We think he would want s2,40O a
yearinterest, or sl0eO00 in all, and
whether our horses we're working for,
ourselves or our neighbors, he would
expect US to see that they and ourselves
worked hard enough to pay the total
amount and ss it became due.
But forgetting all about the new.
Traill county court house and Jail that
cost el9S, 600 which the Chronicle few
weeks ago held up as an example for
this county to follow. Mr.. Mob. now
takes the Foster county house as the
proper caper for Pemblna county.
Turning to the census Of 1905 we find
that Foster county had population Of
4,743 against Pembina's population Of
l8, 4l2; Foster county acreage is 41l,l33
while Pembina is 7l8s72. But again in
the face Of these figures Of people and
area OF the two committee. Mr. Mcbride
figures that : $4,000 court house is
good enough for Pembina county.
Foster county has less than one third
LOT our population and but little ,ver
half our area. Taking these Agures IS
! comparison, and taking NJ. MsBride's
own description Of the pro oposd new
csurt house u Cavalier asuitabls build
lnss such Q win smbody ample aocom.
mod dations tos assat ionS o cone rs,s 4 rs
~ sny taxpayer 4 III 4 Agmplns.s III I !. sss hays
taksp @ sstimats q 10 ilsl sss e
Issch . ~ cont hosss j. lle le1 ace ass
nst - to- 49, ~ = art - -
~ INIT 4 d yill a. 6 A. LILLY
i Al.ssss 1t y / : . = = y 70 n " :.