The Brinkley argus., 1914-07-24
ID STRIKE PETERS
 FROM THE STATE
OPINION OF A GREAT MEMPHIS DAILY ABOUT THE BOND
 AMENDMENT.
STATE TIED TO CID SYSTEM
Time Has Passed When Conditions Warrant Such Restrictions Against
 Issuance of Bonds.

The Memphis News-Scimitar. dis cussing the proposed Bond Amend ment No. 14, now pending in Arkan,
 sas, says:
 The people of Arkansas will be called upon in the general election in September to vote on an amendment to their constitution, which may be called measure to unfetter and lib crate the state. It has the indorse ment of the mayors of the various towns and cities of the state, and no doubt 1t will have the Endorsement of the people, because practically the same amendment was adopted at the last regular election, when for the first time the initiative and referen- dunn was tried. The amendment was carried by a large majority, but nulli- fled by the supreme court for the req son that it added one more than the 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 well as other Southern states, was ovsrrun by what we used to call carpet-bag- gers, who loaded her down with debt by issuing bonds for one purpose or another hawking them about and sell ing them for whatever they would bring, and misappropriating a large part of the money. Things were n a chaotic condition, but as soon as the home people had the control of
 their affairs restored to them, about the first thing they did was to put 1t 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
 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
 
 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 to acquire these com forts and conveniences is by the is suance of bonds, extending over se- ries of years, that can be paid with out imposing a serious burden upon the people at any one time. The pro- posed amendment to the constitution, which will be voted on in September, relaxes the rigor of the present pro- visions. to the extent of enabling com munities to issue bonds in limited degree. The flood gates have by no means been thrown open, and the is- suance of securities is wisely guard ed and restricted to the financing of urgent and indispensable necessities. The enforced economy under the pres ent constitution has had it's value, but 1t also has had it's drawbacks in re- tarding progress and preventing cities and communities from developing and. extending along safe and rational lines. authorized by sound business principles. If the people adopt the pending amendment the present bar rier to progress will be removed, and the state will go forward rapidly along the lines of development Of course, there are always number of people whose natural timOrousness causes them to fear 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 vast difference between wise and necessary investment and prodigal waste, and the amendment will doubt less be carried by even larger ma 1ority 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 with equal force to a number of individu
 als aggregated politically as a town or city