The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1912-06-27
the next generation

them. Under the boa ::
both the present and the Fl! II -!
tions receive the benefits AMI la :, neiD
to pay for them.
It may be argued that the system OF
borro wing money for road building Is
more expensive for the reason that the
money borrowed must be paid back as
we'll as the interest thereon. which at
5 per cent il twenty years will amount
to as much as the principal. and there
fore for each dollar borrowed two will
have to be paid back at the end OF
twenty years. This is not strictly true.
however. The money will be borrowed
as needed. Furthermore, few thou
sand dollars placed in the bank at COM
pound interest is sufficient for a sink
ing fund.
The above objection would in a meas
ure apply to any similar transaction
in the business world. and yet today
80 per cent Of all the business of the
civilized world is done on credit ba-
sis. If nations. states. counties and in
dividuals had listened to this argu-
ment this country of ours would today
| be almost as little known and as little
developed as the continent of Africa.
When community is building pub
lie roads for the use of it's people all
of the money borrowed for this pur-
pose is placed in circulation among the
people. They use it in their business
transactions: they make it earn an in
terest often worth far more to them
than the interest which the county
pays for the sum. In other words. the
county has the roads and the money
which has been spent upon them.
The whole structure of our indus
trial and governmental fabric rests
upon the mechanism of credit. The
amount of legal tender actually in cir
culation in the United States in 1910
was only $34.52 per capita and would
be pitifully inadequate to meet the
demands of business if all transactions
were conducted on a cash basis. The
building of our great railroads. the
financing of our war Of independence
and subsequent conflicts have beer
conducted through the powerful agen
cy of credit Our entire banking sys
TEN, involving S1.953. 1874 600. rests up
on the foundation stone of credit.
Would it be wise to advise thrifty
young farmer to refrain from buying ;
farm because he had not the entir,
purchase price in cash? Would it hav'
ever been possible for the vast do
mains of the early landed proprietor
to be divided up into small farms i
the practice of partial payments hat
not been introduced?
1t is evident that the construction o
large mileage of improved roads a
one time would result in lower Cos
per mile than if the roads were bull
a mile or so at a time, as the contrat
tors having large plants and the qual
ries furnishing large quantities Of ma
terial could utilize their equipment an
material at less relative expense tha
on small jobs.
Because improved roads benefit a
interests in the country all interest
should help to pay for them A coul
W DOuu ISSUE usually iCNINS lhC W.
upon the town property us we'll as tn
country property and thus relieves til
farmer of part of the burden whic
he now bears under the old district {
township system In nearly ever
county in the United States which o
. crates under the pay as you go" pl;'
, the country property alone bears Il
+ entire cost of road building.
o A bond issue is not an unjust bu
J. den on pos.erity, because through t!
e increase in the value Of land and Il
$ development of agricultural resource
t.. posteriiy is benefited. Therefore Il
S son who inherits the wealth thus pr
Z duced by the preceding generate
d should certainly help to pay the co
of the factors which are instrument
in bringing about this wealth.
Q The increase In farm values as Z
is result of road improvement is so gre
n that the tax rate is frequently low
E than before the issuance Of bonds.
" substantiate this point the fOllOWl