The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1913-04-04

NCOnC1nue0 FROM First Page.
acres of Everglades lands, which
should ultimately yield $50 an acre and
revert to the state school fund.
A saving Of several million dollars
in interest overhead cost, engineering
and soil surveys in case some other
method of financing is resorted to.
Those who have dealt in and bought
the lands will be forced to assist the
state in the drainage work, contribut-
ing three fourths of the taxes to the
one-fourth contributed by the state on
it's million acres.
INDUSTRIAL BONDS.
The above plan would, of course,
have to be voted upon by the people.
If the plan should not be adopted, Gin
dustrial bonds" might be issued ct a
much greater expense. It is pointed
out that 8 per cent Industrial bonds
would have to be issued at so cents on
the dollar and sold at a discount OF 20
per cent; that the cost of an issue OF
FIVE millions on this plan. one-fourth
of which would have to be borne by
the state, would be $4,250,000 interest
and costs. making a total of $9,25Q, 600
taxes required to retire the industrial
bonds at the end of ten years. This
would require an assessment Of 10
cents an acre for one year. 20 cents an
acre for one year and % cents an acre
for eight years, of which the state
land. as pointed out. would be subject
to one fourth.
It Is further pointed out that II a
better sale than so cents on the dollar
could be made on industrial bonds, and
IS cents net could be realized. this
would require a total of $s,706, 100 to
retire the issue. This would require q
drainage tax of 10 cents an acre for
one year, Is cents for one year, 20 for
two years and % cents for six years
STATE MUST DRAIN 'GLADES.
The state is bound in honor to the
United States and to land purchasers
to drain the Everglades. and there
seems to be no legal or moral method
Of evasion even If the breaking of faith
was thought of. The internal improve
ment board must reclaim the Ever
glades on account of the legal obliga-
ton imposed by the act of congress of
1850, granting the hands to the state
under the provision that they be re-
claimed, and by the state law of 1855
creating the trustees and the internal
Improvement fund These statutes not
only place legal powers and duties on
the trustees to drain and reclaim the
lands and make them fit for publica-
ton, but in laying down the procedure
both act of congress and state law
made It obligatory on the trustees to
carry on drainage and reclamation
work out of the proceeds Of sales OF
swamp and overlooked lands, or
through the bonding of the lands.
EVERGLADES INVESTIGATION,
While IT is the patriotic duty OF
FIoridians to support the best plan
submitted for draining the 'Glades
many questions have been propounded
as to alleged mismanagement of the
work in the past. Present indications
are that a vigorous fight will be mads
for a legislative investigation of the
Everglades work in every feature
which would possibly bring out some
interesting reading. The hope is gem
eral, however. that nothing will retard
the great work. as the state cannot
break faith with the thousands OF peo-
pie who have purchased lands in the
Everglades with a view of locating lust
as soon as the farm areas are At for
cultivation.