Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1911-04-14


1t will thus be seen that under the
pay plan. the people will actually pay
out during the ten years the sum of
S796, 600. and under the bond issue
plan. the sum of 1922, 600. In other
words, the people who live during the
next ten years will be saved, under
the bond issue plan. the sum of
S474, 600. 1t is true that at the end
of the ten years, il we assume that
assessed valuations remain stationary
md that the county does not continue
to grow in wealth. there will remain
a bonded debt of $517, 600, excluding
any saving that may be made by ap-
plying the sinking fund to the pay
ment of the bonds.
The people will have had the use
of the whole hundred miles for five
years. and the use of the roads as
they are constructed during the five
years. amounting in all, as shown
above, to the use of TOO miles for
one year. Roads are supposed to be
built for the benefit of he people. II
their use does not pay for their con-
struction, it is folly to build them,
under any plan--bond issue or pay as
you go.
1t would seem that the light bur-
den of taxation and the largely in
creased mileage of road in use are
sufficient to justify the leaving of the
$617, 600 debt at the end of the ten
years to be carried and paid by those
who will use the road after that time
Ten years is considerable part of
a mans life, and especially is this
true il he has passed middle age 1t is
neither equitable or justifiab'e to tax
a man who is fifty or sixty years old
a sufficient amount during the balance
OF his life to pay for a large mileage
of improved roads for somebody else
to use and enjoy. On the other hand,
a young man is better able to pay his
larger, just share of this burden IL
the taxes are extended through a
number of years, than he is to pay il
all within the ten. years, when he is
for fothold in the bust
ness or professional world. If he is
young farmer, to give him the good
roads in his early life. while he is
young and active, will largely in
crease his earning capacity and make
the payment of another debt easier.
Farms are bought on this principal.
A young man with few thousand
dollars buys farm costing good
deal more than he possesses, but he
bases his calculations upon the earn
ing capacity of the farm, and knows
that with the farm he will be able to
pay off the balance of the purchase
money, when, without it's assistance,
he could scarcely hope to save that
much money at all.
Homes are bought and paid for by
the business man. the clerk and the
laborer, in all our towns and cities
on this plan.
Railroads have always been built,
and always will be built, on this
plan.
Every great development project,
with very few rare exceptions, is
based on this plan.
Even the United States Govern
ment is building the Panama Canal
on this plan.
In fact, anything that is done for
the purpose of securing a material
return, is done upon the assumption
that the expected return is worth
more than the interest on the money.
Applying this principle to the con-
struction Of modern roads, If the use
Of the roads does not give greater re-
turns to the people than the interest
On the money would be, their con-
struction cannot be justified in any
way. If they do give an additional
return, then it is a profitable thing to
borrow the money and get the benefit
of the extra return as early as pos
,ible.