The Nevada County picayune., 1914-08-07
ID STRIKE PETERS FROM TIE STATE OPINION OF 4 GREAT MEMPHIS DAILY ABOUT THE BOND
 AMENDMENT.
STATE TIED TO OLD SYSI-M
Time Has Passed When Conditions Warrant Such Restrictions Against
 Issuance of Bonds.

The Memphis News-Scimitar. dis cussing the proposed Bond Amend ment No. l4. now pending in Arkan sas. says:
 The people or Arkansas will be called upon in the general election in September to vote on an amendment to their constitution, which may b. called a measure to unfetter and lib crate the state. It has the indorsc. ment of the mayors of the various towns and cities of the state, and no doubt 1t will have the indorsement of the people. because practically the same amendment was adopted at ths last regular election. when for the . first time the initiative and refeSen- dunn was tried. The amendment was carried by large majority, but nalii- fled by the supreme court for the req son that 1t added one more than tn law allowed to the number of amend ments voted on under the present law. The people of Arkansas are tied hand and foot insofar as public credit is concerned.
 After the war Arkansas. as we'll as other Southern states, was overrun by what we used to call carpetbag. gers, who loaded her down with debt by issuing bonds for one purpose or another hawking them about and seli- ha | bring. and misappropriating large part of the money. Things were n chaotic condition. but as soon as the home people had the control Of their affairs resto"tl to th m. aboul l the first thing they did was to pui it beyond the power of anyone to load them down with unjust debts. They were not sure that the carpetbaggers or others equally reckless would not again control the state, and to pro vide against contingencies they put a clause in their constitution prohibit ing towns, cities and counties from issuing bonds For this they were not to be blamed. As the years rolled by and the fear of outside domination disappeared, the people realized that what was exceeding wisdom under former unhappy conditions. does not work out so well under the control of the people In tying the hands Of their possible oppressors, they also tied their own hands, and they can do nothing in the way of public i'm provement save by direct taxation which Is seldom popular or practica ble. Towns and cities have grown up, and the need of modern ConvenienceS such as waterworks. electric lighting. streets and parks and sidewalks. is becoming imperative, and the only practicable way 10 acquire these com forts and conveniences is by the is suance of bonds extending over a SC ries of years. that can be paid with out imposing serious burden upon the people at any one time. The pro nosed amendment to the constitution which will he voted on in September relaNes the rigor Of the present pro visions, to the extent of enabling com muntes to issue bonds in a limited degree The flood gates have by no means been throws open, and the is suance of securities is wisely guard ed and restricted to the financing of urgent and indispe nsable necessities The enforced economy under the pres ent constitution has had its value. but 1t also has had its dra awbacks in re tarding progress and preventing cities and communities from developing aC'l extending along safe and rational lines, authorized by sound business pending amendment the present bar Tier to progress will he removed and the state will go forward rapidly along the lines of development. Of course there are always a number or people whose natural timorousness causes them to fsar any change, and especially one that may involve the expenditure of money, and the con traction Of obligations but an intelli. gent public will see that there is a vast difference between wise and necessary investment and a prodissl | NsSics huu NhV Vih less be carried by even a larger na jority than 1t received before. The individual who would deliberately de stroy his own credit and borrowing capacity would be considered most unwise. and the same applies Vith equal force to a number of indivdu als aggregated politically as a town or city.