The Prescott daily news., 1912-08-26

to 10 per cent of the assessed valua- ton of all real and personal property in the city or town proposing to issue the bonds. AS the basis of assess ment is about 50 per cent of the real value of the property, the actual amount of bonds that could be issued by any city or town would be about 5 per cent of its property value. | The amendment also provides that the special tax to provide for the pay ment of the bonds and interest shall not exceed five mills on the dollar, in addition to the rate of taxation now authorized.
 The adoption of Amendment Nc. IS will not affect at all the taxes of any one outside the cities and towns.
 The executive committee in charge of the campaign for Amendment No Is declares that the object desired cannot be reached by Improvement districts
 "The method of organizing improve ment districts Is so cumbersome that there can never be enough of them to accomplish the end desired" the con- mittee says in a statement which it has issued.
 1 Moreover, under that system, all the cost Is thrown on the owners of real property. This is unjust so much so that frequently these owners re- fuse to assume the burden Why should the property owners of today be forced to pay all the cost of i'm provemonts which are to be enjoyed by generations to come? Why should not an arrangement be reached, as pro- vided in proposed Amendment No 15 so that all those who enjoy the benefits of the improvements shall pay their proportlonate part of the cost thereof? IL is not right, it is not equitable, it is not just that the citizens of today should pay all the cost of the improve ments which are to be enjoyed long after they shall have passed away.
 "ArkanIas is making more rapid progress, cducationally, than any other State in the Union. This could not be if our school districts in cities and towns were prohibited from using their credit to borrow money for the purpose of building school houses and equipping them. So beneficent has been the exercise of the borrowing power of special school districts that 1t has been extended to rural districts with. marked success.
 Proposed Amendment No. 15, If adopted by the people, will mean for cities and towns fully as much as the right to borrow money is meaning for our school districts.
 we must, if we ever hope to meet the demands for public improvements in our cities and towns, if we ever hope to protect the public health and guarantee the safety of the people who live in cities and towns, use our credit raise money as provided in proposed Amendment No 15. And the expense of the improvements should be met by those who will enjoy the improve ments. whether they are citizens now or become so hereafter.
 Do not listen to the ever-ready prophet who may say that if this amendment Is adopted our cities and towns will be bankrupted. The pro posed amendment permits cities of the first and second class and towns having a population of one thousand or more to issue bonds in an amount equal to only one-tenth of their as sessed value. Did you ever hear of . man being bankrupt who. only owed one-tenth as much as, his property was worth? It must be remembered, too that the assessment on our property is now on a basis of 50 per cent or less so that the amount of bonds that 8 city or town may really issue, fl Amendment No. 15 is adopted, will be only about per cent of it's property value"
 "Kld" Mccoy Quits England.
 London, Aug. 26-"Kid" Mccoy an
 his wife left by the boat train fo Southampton, to take the America