The Huttig news., 1914-08-01
PROPOSED AMENDMENT NO. IA WILL PERMIT THE ISSUANCE
 OF BONDS.
UNDER PROPER SAFEGUARD
High Rates of Interest for Capital to Make Public Improvements Would
 Be obviated by this Act.
(From Arkansas Progress.)

| and thoughtful business men who req
 lize fully the handicaps of the present 1 fundamental law of the state.
 The number of amendments pro-
 posed at the biennial elections indi- out-grown restrictions that are placed upon our citizenship by the organic l law.
 One of the most striking of these conditions, inconsistent with the busi- ness methods of today, is the ;uhlbl- internal improvements by municipaii- ties.
 Twice has a majority Of the people 1 voting on the subject declared them selves in favor of removing this unjust restriction, but both times they failed | through techniealities, the last time oe- cause the Supreme Court decided that l not more than three amendments could be submitted at one. time, and the bond amendment was the fifth.
 Now representatives of the cities and towns of the state, calling into counsel the wisest legal minds of Ar kansas, have re-drafted 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 it 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.
 It's provisions are carefully safe guarded, so there need be no fear of an abuse of the bond-issuing power. It is 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 to do is to remove the prohibition from the Con- stitution so that communities desiring to do so may issue bonds for the pur- pose of making certain specified inn provements of general character, un- der conditions that preclude all chance of graft and juggling with the peoples money.
 Only the superficial thinker will con- tend for moment that the present system of making public improvements is at all adequate to the demands of our progressive municipalities.
 ic eIa har pensive, negotiable, and open more to facilities for the unlawful diversion of funds than some people imagine.
 Burdens are now concentrated whereas justice demands that they be equally distributed among all who may profit by the funds contributed.
 Under the present system cities must pay high rates of interest on short-term accommodations, but Amendment No. IA 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 is the usual rate paid, and often it exceeds that amount.
 There is mistaken notion in some quarters that this amendment will be l opposed by the rural voter. There is no tangible evidence that this is true, | for as matter of fact, Amendment l No. IA does not in any way affect the farmer or the man who pays his taxes in the country.
 That being true, there is no reason why the farmer should oppose a meas ure which the resident of the city is asking for-rather would he be ex- pected to give his aid in passing the Bond Amendment as an evidence of the greater spirit Of cooperation exist ing between the city and the country Even though the amendment be passed, there is a certain procedure | fully set out in the measure that must 1 be followed before bonds are voted upon community.
 Provided" reads the amendment, more population, as shown by the next preceding Federal census, or hy census taken for that purpose by the municipal authorities of said towns, and cities of the first and second class, may issue, by and with the consent of majority of the qualified electors of said municipalities voting on the ques- tion at an election held for that pur- 1 pose, bonds or other interest-bearing evidences of indebtedness in sums and for the purposes approved by such majority at such election
 The people of Arkansas have in the l past had just cause to look with suspi- cion upon anything bearing the name of bond" but the oogie of the past should no longer alright the progress sive citizen of today when methods are suggested that meet the approval of our most careful and patriotic busi- ness men.