The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-03-04

Editor Daily Item:
| have read Mr.. Jennings article
relating to the city purchasing the
opera house property and. ! beg as a
member Of grand jury before which
he went for recommendation to the
comfy board to sell the property for
$4,000 to say something through
your columns in explanation OF the ac-
tion of the grand juy in the prem
ises.
First: The County Commissioners
being the representatives Of the peo-
pie and the wardens Of the county'G
interest, as to her internal affairs, as
we'll as men Of practical business
to recommend anything more than it
did might bring some pressure to-
bear upon the board that was really
beyond the province Of the Grand
Jury.
Second: The price being offered
was considered in all OF it's phases
was thrashed out thoroughly, and the
grand jury could not see q compen-
saton sufficient in the offer from the
city to justify the county in accepting
it. In submitting his proposition. Mr.
Jennings did not tell the grand jury
that the board could find a market for
that $1,000 principal for the lot and
$165.00 taxes that would in all prob
ability accrue to the county annually
for 43 years and months, at the
respective rates of interest given in
his explanation, but merely said that
the two amounts, as given, at these
he gives. That looks mighty good on
paper, but in my humble Judgment.
the county board. and most assuredly
its successors, would find 1t very
difficult task to place the money at
more tr an 4 per cent. We all know
that 4 per cent is about all we can
get for money deposited in the banks
by the year and it would be poor
business policy for them to pay more
for 1t, when they can get it at that
rate
Now, the question arises, must the
county board. with a capital stock Of
$4,000 supplemented with $165.00 an
nually go into the banking business so
as to enable It TO get six, seven and
eight per cent. 1t seems to the
writer that it would be rather a dim
inutive enterprise.
Among other things. we must con-
slider that, IL there is anything in
signs Of the times, money will be
cheaper within the next decade than
it Is now. The conditions by which
we are confronted demand it and it
is inevitable. The currency bill just
enacated by congress means something
in the way OF financial relief to the
masses. something that cannot be con-
trolled by Wall Street and the mon
ey powers as heretofore. Money will
flow in a more even current, not to
be obstructed by the Shylocks and
vampires of great wealth, but will
legitimately seek it's mission and the
business of the country will not suf-
fer.
Again. we see that Senator Fletch-
er OF Florida has bill before the
United States senate providing for
rural credit system. Money on easier
terms with a lower rate Of interest,
which means much to the ruralist.
This indicates that he will, before
many years, get money to do busi-
ness on at q much less rate of in
tercst than he now pays and then the
county boards banking business will
go defunct.
What l have to say looks like
specultion in the future and 1t will
undoubtedly be called that by some.
Be that as 1t may, we cannot speculate
prospects are looking to the future.
If it were not so. this would be
stagnant world. With money easier
and lower rates of interest. the ag-
riculturist OF the county is bound to
forge his way to the front There
have already been rapid and telling
strides in the way Of economics and
general improvements made within
the last few years and he who can
read the future. guided by the things
Of the past. must see. with the
changes of money conditions now TAX
ing place, greater opportunities and
privileges, which means that t,is
country is coming into it's own. Tho
material prosperity Of the country
district is bound to increase and that
signifies more prosperity in our cities
and towns. with a greater increase in
population. Judging from the past