La Junta tribune., 1912-04-20

mem. tuuOf INV iOHu N~itr thilrs
10Th the present and tie future genera
lions receive the benefits nnd ts,sh be I,
20 pay for them.
II may bs argued that the rys.cm of
borro wing money for ruad building l-
norr expensive for the reason TINT the
money borrowed mu>i in' i,aid h~. X a.,
well ns the Interest th-n-,n. whsrh at
3 PER cent In twenty y'-ir~ Will amount
10 a~ much nS the print'iipa,. and there
fore for each dollar ,~,fr"w'd two will
have TO H. paid bick NJ the ~ut OF
twenty years Th- l. no, ~ri.flv sYue
however The money viii IL. borrowed
as needed Furthermore. few thou
sand dollars placed In the bank 1t CON.
pound Interest il sufficient for u .lnk
In: fund
The above objection would In mea :.
ure apply Ia an, similar frin~artiou
In the business word and vet today
20 per cent OF all IN. husin,.~. Of the
civilized world Is done on credit ba
sis II nations. states. counties and in
dividuals had ii~t"n-d to this srru-
ment this country of ours would today
h. almost ns lit,l. known and NJ little
devciofed rs the 'on'inen of Africa.
When community b. building pub
lie roads Tor the use of it- i-.oph. all
Of the money borrowed for this pnr
pose Is placed In circulation nmoug the
isople They ~. II 10 their busin.ss
Transactions. they mnk. II earn an in.
t-r.st often worth far uorc 10 th.u
than the Interest which th. county
pays for the sum In other words. The
county has the rodd~ aud the money
which has bc-.n sfent upon them
Tn. whole strurturc Of our Indus
trial and governmental fabric rests
upon the mechanism of crrdit The
nmoun' ~ legal ,erdcr actually In cir
culntlon In the Uniird States In 1910
was only s3i-i2 r.r capita and would
be pitifully Inadequate ,o meet the
demands Of business II all transaction
were conducted nu cash basis Tie
building Of our great railroads. the
financing ~ our war of inde,rndeuce
and subsequent couficts have been
conducted through the powerful agen.
cy of credit our entire banking sys
ten. Involving 81 s-sl- Nj .psi rests up.
on the foundation stone Of credit.
Would II b. wis. io advise q thrift
young farmer 10 r-frniu from buying a
farm because he had not the cniire
purrh hnsc prize In csrhf Would II have
ever been possible for the vast do
mains of the early landed proprie,or,
10 h. divided up into small farms II
the practice of partial payments had
no, been inir"duc.d7
1t Il cvidcn, that the construction %
large mileag. Of Improved roads NJ
one time would result In u lower cost
per mil. than IL tn. roads were built
mile or 50 nj time. ns the conirnr.
tors having larg. plant. and the Quur
ries furnishing large quantities Of ma
terisl could utiiiz. their equipment nOi
material at le.. relative expense than
on small jot'a.
lsecsuse imivfo, ri voedS ts.p~dt Ill
interests In the country all interests
should help to pay for them \ couu,
~ bond issue usually ievs~~ the cost
upon the town proi-rty NJ well as the
country property ana thu. relieves the
farmer Of part Of the burden which
he now bears under the old district oe
township system In nearly every
county In the United States which op-
crates under the pay ns you g" plan
the country property alone bears the
entire cost Of road building.
A bond issue Is not an unjust bur
den on po~,.-'iy. because through the
increase In tn. value Of land ani the
development Of agricultural f,-,purre~
I-o>Se-ity Is benefited Therefor. the
son who inhcrltS the wealth thus pro.
duccd d, the preceding Frlrrption
should certainly hclp to pay The cost
of the factors which are Instrumental
In bringing about this wealth
Til. Increase In farm values ~ the
result ~ ruad Improvement i -o great
that III. tnx rate 1, Frequently lower
than before the issuance OF bonds TO
Substantive thl. point the following