Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1911-03-23
District Road Bonds,

Haste and Waste" should be the
motto of the leaders of the present bond
issue movement. We think they have
acted in great haste, md seemingly
with no regard for consequences. These
leaders are so possessed with the bond
issue spirit that every other plan or sug-
gestion looks like a trick. a snare and a
fraud 10 them. They first want bonds
at any cost, and then, II will be roads
at any cost. If the peonle are deter
mined 20 have road hoads. any well
posted business man or tanker will tell
you that the district bond is rot the
kind TO issue, because it Is harder to
sell ane must draw a higher rate of in
terest than a county bond, which is
more attractive TO the bond dealers. A
county bond bearing five per cent inter
est would sell Al par. OF at a premium:
tut district bonds nave to draw al least
five ard one-haif and probably SIX Der
cent interest Il order 20 sell at par.
Ihese are facts, and The bond issue
leaders know it.
Wha' does this mean 20 the tsx-pav-
ers? A difference Of one-half Of one
per cent on interest on a loan of S625. 600
mean SO. .125 more interest each year.
and on thirtyfour year bonds would
mean a difference of Sl06 25O The
bond issue leaders knew that the county
bond was the better and more economic
al to issue. and in all other counties.
where bond issues have been voted. the
county bond as the only kind thought
of, except in the bare case of one of the
distric S in Pulaski county, which tried
the district bond, and liked never to
have sold them at five and one-half per
cent interest. Wise county voted and
sold five per cent county l&nds at a
premium of 81. 90 on the $4,000.
The bond issue men started out with
the plan of having a county election and
issuing county bonds for $500, 900, to be
divided among the three districts. but
Clear Fork kicked on this plan, because
its leaders thought they ought to hsve
forty-siX per cent of the county bonds.
and TO get around the dispute over di
viding the money among the districts
they decided not TO issue county. but
the district form of bonds. The bono
issue leaders seem Indifferent to this
question of interest. Trey don't care
for their posterity (''because posterity
has done nothing for them" they saw
/ haT
would rather the tax payers psy five
and one-hslf or six per cent on district
than have county bonds at five per
cent interest
Now. isn't this money worth saving.
Mr. Bond Issue Man? Your five and
One-half per cent interest district bonds
means So, l25 more each year from the
taX-payers, while the six per cent bonds
would mean Sc $50 more each year as
long As the bones run.
Why 20 ahead and voc to issue 6is.
tric, tonds when you know you can saw.
the TAX payers money by county bombs?
/ You claim to he public spirited ne.
acting for the best inter sts Of the no
4 pie. Iiease tell them i YOU have any
I assurance, or believe that he district
/ bonds can be placed at less than five
and one-hslt per cent interest. Y,u
are lellng the people the raw plan 70 m
gon5. ana if your di -tiict bo.ids ara
voteI 'wp another Il lion cannot be
held for '~o years. n w, don't ou
kn W fh9t an elicit p fcr sou " hr, Is
under re cnucty bond stu.e .nuia ..
r'io -t so c. sitter the des1ar IF r...