Ashland tidings. [volume] (Ashland, Or.) 1876-1919, 1913-07-10
WHAT'S THE MATTER With ROCUERTVERVALLEY?

hundred and fifty thousand dollars
for, posterity to pay.
So, if the excessive borrowing
failed to produce sufficient stimulus
to enable him to unload, where would
the results of following him own ad-
vice lead him? Should he escape
the leveling sword of time and his
life outrun the term of the bonds,
what then? We sincerely hope the
gentleman will enjoy more of life,
I especially in this beautiful Rogue
River Valley, than the time of the
proposed bond issue, and that he may
be always happy and prosperous, but
we have at least as lively hope that
the taxpayers of Jackson county will
refuse to follow his advice unless
they find a more substantial reason
for the course than he assigned.
Already much property in both
Ashland and Medford is overloaded
with special improvement tax; in
fact, so much as to render it un-
profitable to own. This condition
contributes not little to the local
depression now apparent. Add to
this the already high ad valorum tax
and the wisdom of careful considera-
tion before adding the additional
burden of the interest and sinking
fund necessary to carry a new seven
hundred and fifty thousand dollar
bond issue will appear to hinge more
on the benefits to be derived than
that posterity will have the bill to
pay.
1t is now proposed to vote seven
hundred and fifty thousand dollars in
five per cent, twenty-five year bonds,
and spend the money in developing
the Pacific highway through Jackson
county. The state engineer estimates
it will take that sum for that road,
not leaving any funds for laterals.
The reason so many men fail through
bad investments is because they do
not figure the interest charge on
money borrowed. Seldom municipal
tiles think of the interest charges un-
til they begin to feel the heavy
weight of accruing taxes.
The good results from improving
the Pacific highway are beyond dis
pute. If the valley hopes to reap the
benefits accruing from heavy tourist
traffic Jackson, Josephine and the
counties north of here will have to
carry forward the work so we'll begun
by the state south of us.
The only consideration should be
the benefits as related to the cost of
the highway. And when figuring the
cost the interest should not be over
looked If we borrow seven hundred
and fifty thousand dollars at fige per
cent, for term of twenty-five years
the whole bill for improving the way
will be one million six hundred and
eighty-one thousand five hundred
dollars, not seven hundred fifty
thousand, the sum originally Dor.
rowed; for the interest alone will
amount to one hundred and eighty
one thousand five hundred dollars
more than the principal.
The question then is: Will the
Improvement of the Pacific highway
through Jackson county at this time
be worth one million six hundred
eighty-one thousand five hundred
dollars; will the increased traffic
justify the expense, considering the
amount of money that will be left in
the valley by tourists who are in.
duced to come here because of the
good highway; will, or will not, the
added tax necessary to take care oil
the interest and sinking fund be q
burden on the people out of proper
tion to the benefits? These are the
questions to be determined. And
they must be determined by each in
dividual voter.