Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1912-01-08
MORE MONEY AND BETTER ROADS.

Under above caption Sunday Times publishes the follow
editorial which the ten million dollars IN bonds by m
counties and state for good roads Mr. plan Is 10 many IT,
s Of tbs s as .c's"' one deserves ' - y - ~ -
large circulating medium believing that the currency that was
in circulatio would be it and as natural con
sequence the better all kinds of business would be-
Everyone understands the necessity for improved roads 50 as
advance material development OF the State and this paper has tor
many advocated that the State and Counties build good ROADS
and that the cities build good streets.
Over thirty years ago the writer advocated that the State issue
est per be used Tor the OF building h
class roads in all sections Of Virginia
Few people, i'll this day doubt the advantage OF good roads anu
believe that there fewer still who do not believe III having
stable but large circulating medium
Our opinion has been the that Dot OF 'ca
ends be easily accomplished through simple
OF the Legislature at its approaching session
submitted plan would be that the State issue $4,000
900 OF bonds be known the State series and to
be issued denominations Of S. $40 $50 and 5000: the second
series be issued as the State and County SERIES III
The first series to bear cent and the second per cent
and people the county township decides upon the character
and expense such roads and hey that bond or bonds to
onca the needed shall be issued that the supervisors OF the
county or tho councils shall when directed by vote the people
bond bonds for the amount required and send She same "
the Treasurer State Of Virginia. who shall III return send to inc
proper officials equal OF the bonds series and an a-
iona1 sum i'll series T. to an equal amount. ~ r:,, .r,
The expense of building the roads would thus be divided cl
between the State and counties.
The bonds could run for years with provso to create
sinking fund per year 100000 annually on Slooooo
onc which would be provided by the counties leaving the State
ONLY provide $4,000 The 100000 OF the sinking l
he
OF each series could destroyed thus reducing each the interest
as we'll as the principal of the debt
bonds should be made receivable i"r all dues to the State
counties and cities.
The small denominations would enable them be paid oft Tor
the general expenses OF the counties and cities ana cy " pass as
they elsewhere oca currency thus adding I" inc ccu-
ans medium Of the people giving us those greatly nco'o oc
atuns. abundant currency arl good roads
Where these built the values OF property would ine
atcv advance from IS cent TO 100 per cent Wi'ch W ~
few wears largely add the OF the State cities and counties
IN la This additional revenue would inside OF twenty years pay OFT
the entire indebtedness and leave the State with the finest roads TO be
Aside from the increase asscssabc property let what the
probable cost o the State would be annually:
Interest on S; 100000 at per cent. 10000
Interest on S. 100000 per cent. 100000
Total amount i,r sinking fund and interest. $4,000
m This amount The counties would have TO bear their share or 100000
Tor sinking fund. $4,000. and interest $4,000 .
Leaving State provide, annually $4,000 as the Sta'e
now aporiatcs each $4,000 ii will be seen that the saving
10 tc State will he annually which amount 1t IS thought
best could be added to the sinking fund.
As the one hundred counties OF the State now average at least
600 annually for road let say The aggregate they pay
on, So 100000 divide this BY (2) leaving onc-af Tor repairs
and there remains Soooooo II we deduct IRON III: 3D. M ;
100000 as cited above which the counties must pay Tor the interest
and sinking will be that the counties vi" save cac year
$4,000 part Of which might be used for permanent road und or
as sinking fund take up their bonds due the State al d" Garner
In any event it Impossible that the State counties would DC
called on to pay ont more money than they the present tune
and all the people would be greatly benefited BY the increase OF CIT
culatng medium. while the property owners ana people T =
travel over the roads would immensely vehicles and morse c
and the property owlcrs will be enriched by the enhancement III o
n I've objected that the National banking Laws would require
That al 10 Der cent 10 be levied these small bonds when used
Tor circulation the question has been settled III the case Of c
V, United States when the Supreme Court decided tha stc '
and thai sovereign Sac aad INC r's' " s'' "
bonds for any and i'll any denomination
desire further direct attention 10 the TACT that sl"on
circulation in Virginia which would pass from hand to hand III INC
foundation Of debts would prove endless chain OF prosperity a1
with nearly every change add to the State ana coo! M
consequently receipts thus annually increasing INC tax 'ccc
far in excess i tic expenditures for interest and sinking fund