The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1912-07-18

IL continues 70 be paid as an annual
ts1. the proceeds Of which are an
nuaily expended for road building pur.
poses. This system has certain ad'
yantages, for example, IN connection
with this expenditure Of the annual
tas. While only limited amount of
work can be done each year, there Is
no opportunity for wasting large sums,
The people Of the county gradually
adapt themselves TO the changed con
ditions, aud the persons placed In
charge Of the road work have an op.
portnnlty OF becoming efficient by their
own experience before they come to
handle larger sums Of money, aud mn.
other thing which has considerable
weight with large class Of people is
that the county II kept out Of debt
Another advantage Of this system Is
that when county has large taxable
wealth small annual levy viii yield
as large a sum as can bc wisely ex'
pended.
The more enlightened and the more
commercial a people are tho larger is
the application Of the credit system IN
their business In the early settle
ment OF this country the money for
Development aud business enterprises
was borrowed from Europe. Grad
ualiy the eastern states Increased In
wealth TO such nn extent that They
not only paid their European debts
but had money 90 loan for the up
building Of their sister states In the
west Al the present time some OF
the western states are Joining with
those Ia the cast IN lending money 20
Europe During the past 100 years
on the system Of going into debt for
public improvement" this country
has risen from small dependent ma
tion 20 the bead OF the list.
The disadvantages OF the pay as
you so" system are that the work OF
road building proceeds too slowly. In
a county which has 500 miles Of road.
100 miles u which should be consid-
erred It's main thoroughfares, II Il
raises "a, sufficient TO build Eve
miles Of good road each year twenty
years will be required 10 Improve the
100 miles, aud many OF tie citizens
81 the county would continue TO pay
taxes for years before they would r.
celve any benefit therefrom
The system Of raising money for
road building by issuing bonds IA gen
orally unpopular. because people dread
the idea OF debt
The great advantage In the system
Of borrowing money for road building
Is that by securing the larger sums of
money for immediate expenditure the
work can be pushed mors rapidly, and
the roads which would otherwise re
qu,re twcu,y or thirty years for their |
improvement, can. under this system
h. finished 10 four or Eve years The |
people OF the county begin 10 receive |
BENEFITS from the work more quickly. |
and the henents are sufficiently great
10 enablc them 10 pay the interest on
the borrowed money and TO provide a
sinking fund 10 pay back that money
with more ease than they could pay /
the annual tares 10 advance Of the 1
completion Of the road.
Under The "pay as you eor plan the
present generation builds The roads and
the next eetrmiipr ~ ie ieaeHi 81
them. IAder gie iu4 ssiie policy
both the preep, nna iae ialufr genefs
,ions rerclre the lsspeais au.l to,h help
60 ray for ibena
IL may be argued ihai lhe system Of
borrowing taoaeg ~ road ~ ting is
mosv expensive f8r ihe r,'as8n that the
n0ney borrowed nnsi - pasd sack as
well ~ ihe in'nfe4t thsroa, witch at
Ter cent IL ,Nrntf yesrs ali ameunt
60 a. mich ~ the principal and there
fone for each dollar h~rroaei tw0 WIN
have 10 be paid larl 81 ihc end Of
tweniy years This Is nai sificily true.
however The naoney viii te borrowed
M needed. mibcfmure. q few thon.
sand dollars plased 10 the bank ., com.
I-oana Interest " surHcieat for sink
Ing fund
The Shove 0hYecglan would IN Incas-
nr~ arFay 10 auy similar transaction
IA The business world. and jet today
90 rTf ceut ~ ell the business 81 tho
cisiiiFea wns4d j. dese On eredl, b.
ais II nstiens, siase.. counties and IT,
diriduals haa isiened 10 itis Hrsu-
meat tails country u oufs wDaid today
b~ ninsssi - i,iiAe enern And 4. little
drgelefasd IL tie Soutiuent ~ Affscs.
Mb~a cemaanaiiy 10 bslldlng nab-
Is roads far SIS ass &. IL pe2.is SE