Western Carolina Democrat and French Broad hustler. [volume] (Hendersonville, N.C.) 1913-1915, 1913-01-30


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NEUTRALITY-SUSPICIOUS.
collateral 81 tie
hifh n to:
top4Y ElnAlng expenses.
Asa
low:
rs Bfltst be ERsftEed AM Act PfyvidTag
foE Hs NOfkkR4Pg C9nS
pc E1AH&rRaadsd ssSn yia "a TF.Tqg.
ThenGeherapAssemBlga0f N6rth Oarop
afdina1do Enact: sc
Section 1.HEAaklRl4EecoRYict ysena
fenced to State prison who are not re-
eqNiredsin teRrFying On thesWoFk of the
State prison and of the State farm
shall be used in working 4rthegppblie
roads, as hereinafter provided.
RhfAhdaRF-a tho,
| State Prison shall anot the STATE
conVicts to -W6rken heSypubfic
roads as directed EhafraIanpf
the State H8hWaXGommisslen n such
ohSeAsHa1 beSereAted General
Assembly scthsW g the Geo.
1ogtcakEh6AFd When counties shall
apply for STATE conYietHto assist an
ftfeI c~onstruction and mainteHance 0E
public roaas preferences shall bS
given to those which DO nothaHeA
SUFFICIENT numbeF eangicfs OF their
own to warrant hmaintainingga
lehaln-gang for pubic road work. When
thus allotted to the eoAntes for such
work, the county recefY1ng such con-
victs for roadsMork shall pay the cost
of suardinglfeeding, and clothing 2he
convicts, and this shall be done In a
manner satisfactory to the s~uperinten-
dent of the State Prison Where itss
considered advisably by the Highway
Commission, if such commission has
been established by the GeneraIAs-
senbly, or the Geological Board the
State convicts may used In theconS
of interzc0nnty pad and
Efhe cost of guarding, Testing and
Aatothing the eonFicts shall be paid~by
the super9nfendent State prison.
Sec. TnnfBhan in no way
E1nterfere with the present acts relat-
Flag to the sentencing of prisoners to
work on the roads, and whfehSareenoW
Under the control of county authorities.
f&Hn O6Cs H 1AI6T at SAd14 sf4O Al AOAkC
from and after its ratifcsatioR. ~
Estate Security for County Road Bonds.
A~RptherGway in which the State gan
very materially and advantageodsiy
assist the counties in the construction
Il of thaiREHnblE iRoadsA for the Stats
I to IlS1d Its kfhanoaaH 1sNpport TO the
IeNnstrRetieRe q Feads The
State, as we all KNOW, can very reao1Iy
borrow money at 4 per cent interest,
while the county has to pay on an
Leverage at least 5,.per cent on all the
honey that it berfqWe. 1t requires
approximately / per CENT per year on
lAfdr&-year loan tppfoNde a sinking
fund which, when put out at compound
interest, will equal the principal Of the
loan. Thus any county issuing $780,
900 worth>o of bonds would have to pro-
vide besides the yearly interest, a sum
equal to 1888 per year, which, put out
Mt 5 per CEN interest compounded,
would in forty years provide the pr1n-
cipal of 100000. The county, there
kore, has to providef6fper cent each
fyeaf to take acaFe of It's bond issue.
Nov, the difefence at what the State
can borrow money "A per cent? and
1 the county TO per cGAIJ-A. OS 20
cent-WiH take care Of the principal
OF any loan when it becomes DUE Ii
1.-The State, then,eWould borrow money
4 at 4sperscent and loan it to the coun-
ktfes at E-per cent; thes1 per cent addi-
ticnal interest which the county would
pay to- the State would take care OF
the Principal of the bonds issued by
gheState; and the counties after pay
ing the 5 per cent interest semi-an-
nually for forty years would have pro-
yided The State with an amount SUM
rf4YIf = eEepF4neIpaI1EH
would have to look aftFWR9aalhe the
8 e cent interest, and not
ka.worried or. bothered nth TIE rim
eibai. AL this sWdeld bATtAken e4re OF
IS the Etate.alBy such-asmethod the
+stste wuufd-nUt-have 70 ladyanqe any
money on the principaNor Unrest,
and would simply be tmHg6dEaMtage
of it's credit in borrowing money at 4
per cent and giving the counties the
BENEFIT Of this. ThoseIcountteE which
have issued bonds and are paying in
E4erest and providing sinking fund
know that it takes approximately 1 per
.lcent IL. addition TO the interest to pro-
wide Tor the-sinEngfund :"