The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1913-01-15
MANNING, s.. c.. WEDNESDAY. JANUARY l5 1913
PLAN TO BUILD ROADS
A GOOD SYSTEM EXPLAINED BY
IT'S AUTHOR.


VIII Enable Counties to Pay OF Road
Bonds With Amounts Now Requir'
ed to Pay Interest Alone.
The following plan to build good
roads by the different counties at
minimum cost is published In the
Progressive Farmer by W. 8. Wilson,
of Raleigh, n. c., who is the author
of the plan:
/ An overwhelming majority OF the
people favor good roads and want
them. The men most bitterly opDos-
ed to road taxes and road bonos
prefer travelling over q good road to
! travelling over q bad one. We must.
therefore, look back Of the fact that
good roads are favored and wanted,
to find out why more Of them are
favored and wanted, to find out why
more Of them are not built.
The one absolutely essential thing
In road building is money in larger
Quantities than can be raised BY tax
alton except In few Of the wealth
Ter localities. In most cases a bond
issue Is necessary, and bond issues
are not popular. Business men who
dc not hesitate to borrow money to
use in their own business enterprises
oppose bond issues for roads or other
purposes.
Why is this? II It bs good busi-
ness to borrow money for g private
enterprise, why would It not be as
| good business to borrow money for
a public enterprise? Why are bond
issues unpopular and why do some
OF our best men oppose them? Our
people do not vote blindly for or
against a proposition. They count
the cost and take into consideration
the benefits. They know that in most
instances bond issues under our pres
ent plan became permanent debts;
that they ae never paid and the ~
teresr on them Is an Insldi15 icad
for them and their desc Aldar.s 70
ca-.I Nten they borrow mon y for
private enterprise, they provide for
it's payment. and then the interest
stops. When bonds are vosa1 for
and sold, they know that in certain-
" a great majority Of cases no meth
cd Of repayment which can be o.
fectually carried out Is provided for,
and the interest does not stop, and
therefore, they vote against the
bonds.
II some means can be devised
whereby money may be had at
reasonable rate Of interest and with
a fixed period OF payment, and the
people can be made to know that at
the end Of that period the debt Will
be cancelled, they will vote for bonds
and good roads will be built.
The plan which shall here outline
to meet this condition is based upon
the fact that in this State the bonds
issued by the State are exempt from
all taxation, whereas county, district
or municipal bonds are subject 10
taxation. There is, therefore, Diff
ference in the value Of these bonds,
which Is shown In the rates at which
they may be sold. The State can and
does sell it's non-taxable bonds read
ily at per cent, while county, dis
trict and municipal bonds range from
5 to 7 per cent, with prevailing dif-
ference Of certainly as much as 1 per
cent. It is to take advantage Of this
difference and at the same time 10
prepare plan by which a sinking
fund can be created and invested un-
der State supervision, to care for the
county bonds st maturity, that the
plan is proposed as substitute for
our present ineffective and unpopular
method Of road bond issues.
This idea was drafted into a Dit
which was presented at the last ses-
s:or: Of the General Assembly, Whare
1t passed the House by a practically
uua1in,ous vote, but was defeated IN
the Senate by a small majority. The
plan nay be summarized as folio us:
/. On January 1 Of q given year
the State Treasurer shall be author
lied to issue and sell State per
cent. bonds, interest to be paid semi
annually, to an amount not to eH-
ceed 100000, the exact figure to be
determined by the applications re-
ceived by him before such Issuance.
2. The bonds are to run for per-
Tod Of IL years, since it takes that
time to mature a sufficient sinking
fund to retire them.
3. The steps preliminary to such
application for road funds. including
the method Of voting in the county
are set out in the bill, and must oe
regular in every way, and be APPROX
ed by the Attorney General.
4. Taking for granted that enough
cOunLtSS nave oppASo w S~~
whole issue OF 100000 for use on
roads in the following six months,
the Treasurer issues State bonds TO
! that amount and the proceeds aris-
ing from their sale are loaned to the
counties. There counties must fur
nish proper proof Of having voted
"For Good Roads," and must execute
and deliver to said treasurer a bond
tc pay him S per cent. per annum on
the amount loaned, to be paid SEMI
annually at least one month before
the interest is due on the outstanding
state bonds. A penalty for failure
to pay within the specified time Is
provided which would amply relm-
burse the State for any advance pay
ment it might have to make on Its
outstanding bonds.
5. Both interest and penalty are
made a State tax and the Treasurer