The Prescott daily news., 1912-09-03
WHY AMENDMENT NO.
 l5 MERITS SUPPORT
Arguments Advanced in Behalf of Proposed Bond Measure to Be
 Submitted September g.


 proposed constitutional Amendment No. 15, giving cities and towns of more than 1000 inhabitants the right to issue bonds to secure public i'm provements, are embodied in a state ment which has been given out by the committee which is in charge of the campaign. The many reasons that are why Arkansas cities and towns should be given the right to is. sue bonds if the majority of the peo- pie affected wish to do so, are briefly summarized in this statement. It is as follows;
 1. Amendment No. I5 was initiat- ed by the representatives of the peo- pie, and not for any special interest except for the public good More than fifteen thousand people in all walks of life willingly signed the petition.
 9 Arkansas is the only state in the towns from issuing bonds for public improvements. Our cities and towns are, therefore, laboring under a heavy as compared with all other cities and towns in adjoining states.
 3. Amendment No. 15 is Democrat ic in principle, in that 1t gives the people of cities and towns the right to regulate their own affairs. It clear ly establishes the principle of Home Rule.
 4. Amendment No IS fully safe guards the rights of the people of every community. It requires a ma jority vote of all qualified voters at regularly called election before bonds can be issued. Sixty days notice must be given. by publishing the purpose of the bond Issue four times in local newspapers so that a referendum is had on every proposed improvement.
 5. Amendment No. 15 will lessen the rate of interest for all public i'm provements. Cities of the first class must sell their bonds at par at not more than five per cent per annum. Cities of the second class and incor- porated towns of a thousand or more must sell their bonds at par and at not more than six per cent per annum. The average cost now is eight per cent, besides the expense and cumber- some methods of organizing improve ment districts.
 6. Amendment No. l5 will give you the cash with which to pay for your public improvements. and will enable the cities and towns of Arkansas to do business like a mercantile establish ment with high credit ratings Many contractors will be ready to bid on your work because they will know just when and how they are to get their pay.
 '. Amendment No. l5 will relieve the present generation from paying for the improvements that future gen. erations will use and enjoy. It dis tributes the burden of taxation equal ly, thus allowing public improvements to be made without seeming confisca- tion of property at any one time.
 s. The present Constitution was adopted in 1874. Times and conditions have changed, and the people of Ark ansas now govern themselves, and the right to issue bonds Is essential to the progress and prosperity of the State. The people can be trusted to make wise and efficient use of the bonding power for necessary public 
 g. All other Southern states have the right to issue bonds. Why not Arkansas? Very few business men could make a success if they were from borrowing money If you were denied the right to borrow when you possessed good col lateral, you would resent 1t. Why danv this ripht to vour eities7