Sharp County record., 1914-08-14
PROPOSED AMENDMENT NO. IL
WILL PERMIT THE ISSUANCE
OF BONDS.
UNDER PROPER SAFEGUARD
Hah Rates Of Interest for Capital 10
Make Public Improvements Woula
Be Obvlated by this Act
From Arkansas Progress)

The insistent demand for new con-
sutution comes from the statesmen
and thoughtful business men VINO rea-
lize fully the handicaps OF the present
fundamental law Of the state.
The number OF amendments pro-
posed at the biennial elections lnal'
cate the crying need OF relief from the
out.srown restrictions that are placed
upon our citizenship by the organic
law.
one OF the most striking OF these
conditions, Inconsistent with the busl-
ness methods OF today, is the innlpl'
tion against the issuance OF bonds lor
internal improvements by munlcipaL'
ties.
Twice has majority OF the people
voting on the subject declared them
selves in favor OF removing this unjust
restriction, but both times they 1alled
through technicalities, the last time De-
cause the Supreme Court decided mat
not more than three amendments
could be submitted at one time, ana
the bond amendment was the fifth.
Now representatives Of the cities
and towns OF the state, caNlng INTO
counsel the wisest legal minds OF Ar
kansas, have re.dratted the BOND
Amendment which is to be submitted
again to the people at the September
election.
All reasonable objections that were
offered to the amendment have been
eliminated, the proposed measure has
been wholly rewritten and greatly
strengthened, and 1t goes before the
people with the support Of the Greater
Arkansas Association whose member
ship comprises the municipal officers
and commercial bodies OF practically
all our cities and towns.
Its provisions are carefully safe
guarded, so there need be no fear OF
an abuse Of the bond-issuing power
1t 10 all In the hands OF the people.
The passage OF the Bond Amend
ment will not fasten bonds upon any
one-all that It proposes 10 do is to
remove the prohibition from the Con-
stitution 50 that communities desiring
to do 30 may issue bonds for the pur-
pose OF making certain specified i'm.
provements OF u general character, un.
der conditions that preclude an chance
Of graft and Juggling with the peoples
money.
Only the superficial thinker VIM con-
tend for a moment that the present
system Of making public improvements
IL Ut all adequate to the demands OF
our progressive municipalities.
The system Is slow, cumbersome, ex.
pensive, ineQuitable, and open more TO
facilities for the unlawful diversion
Of funds than some people imagine.
Burdens are now concentrated,
whereas justice demands that thsy be
equally distributed among all who may
profit by the funds contributed.
Under the present system cries
must pay high rates OF interest on
short'term accommodations, but
Amendment No, "A provides tha. no
bonds or interest bearing evidence OF
Indebtedness IN cities OF the first class
shall bear more than per cent inter.
est, and in cities OF the second class
and incorporated towns not more than
per cent, Now per cent IL the
usual rate paid and often II exceeds
that amount,
There IL mistaken notion In some
quarters that this amendment Will be
opposed by the rural voter, There IL
no tangible evidence thar this IL true,
FOR as u matter OF fact, Amendment
No. Ia does not in any way AFFECT the
farmer or the man who pays his taxes
IN the country,
That being true, there IL no reason
why the farmer should oppose q meas
ure which the resident Of the city ID
asking for--ratber would he be ex.
peeted 10 give his aid In passing the
Bond Amendment az an evidence OF
the greater spirit OF cooperation exist,
ine between the city and the country
Even though the amendment DO
passed, there IL q certain procedure
fully set out IN the measure that must
bo followed before bonds are voted
upon community
Provided" reads the amendment,
that incorporated towns OF 1000 or
more population, as shown by the next
preceding Federal census or by a
census Mken Tor that purpose by tue
municipal authorities VI eeid towns
aha cities Of the first ana second elasa
may Issue by ana with the consent OF
a majority OF the qualified electors oi
said municipalities voting on the uues
ton AZ an election held Tor tnat pur
pose, bonds or other intorost. bearing
evidences OF Indebtedness in aums gne
tor the purposes approved by guel
majority at such election"
The people,ot Arkansas nave IN the
past had just cause 10 look with suspi
eion upon anything bearing the uamt
| OF bond" Dut the bosie OF the pas,