The Nevada County picayune., 1914-09-04
MEANS INCREASE
 OF STATES WEALTH
MUNICIPAL BOND AMENDMENT WILL MEAN MUCH GREATER
 FINANCIAL FREEDOM.

One of the strongest commenda
 ions of the Municipal Bond Amend
 lent is contained in the following
 dtorial from the Christian Science
 'onitor, published in Boston, Mass:
 "ln common with several of her
 .ster states, Arkansas at the close c'
 Ic so-called reconstruction per5nG ound herself involved Ill ooiildtca-
 rcatcd for her by political adyen .urers and exploiteIs Of her resouI- "es. Obtaining repossession of he
 ull rights of statehood, oae of hsf jrst acts was to erect constitution al safeguard against the recurrence of such conditions. Bonds had been issued upon the credit of the state and it's municipalities, the proceeds Of which, in large part or wholly, were diverted to private use or scandalous ly squandered Hence she inserted in her constitution a clause prohibiting thenceforth the issuance of bonds by towns, cities or counties The prohi- bition has been effective in the sense desired; it remains operative to this day, only through direct taxation may towns. cities or counties in Arkansas carry on improvements. They must pay as they go. In September the vo ters of the state may decide for them selves at the polls whether they shall be privileged. in their collective ca uacity as towns, cities or counties 10 % into debt
 Tt is almost a foregone conclusion hat they will decide in the affrm7 we, because theE did so at the }ast ocular cloc'ion, when the initiative
 nd referendum were tried for the inst time in Arkansas The amend rent provfIna for the right of issu ng bonds WIS .hea carried by large majority. but was nullified by the 9u vreme court upon the technical " nat it added to the number of amend rents that could he voted on legally at the lime The change in the cor >titution-a change which it's advo- -ates claim will untetter and libar- nte the state-has the inGorsemen O he mayors of the towns and elites rnA may be truthfully described as ? popular proposal.
 It is impossible to conceive Of a repetition in Arkansas of the deplor- able experiences that led her to adopt so restrictive constitutional provi. sion. There is. at any rate, no req son 10 feel at his time that the pri"- ilage of issuing bonds to meet the cost ot needed improvements such cost as might be involved in the moderni 7ation of her communities-wou be abused. There is every reason. on the other hand. for believing hat i'm. provements of the character consider cd neelful to communities in other states would. in Arkansas, increase taxable wealth and make for the gen nral welfare. Furthermore, the meas ure of financial freedom gained through the proposed amendment by the several communities would, We believe. have an expansive influence, promote public enterprise and stimu- late laudable emulation in all locali- ties The present is in constant debt 10 the future; the future is properly in constant debt to the past. if through bonding for public improve we7t the present imposes oh'satiou- .a the future it also by His means i,stnws benefit. srr which tho future
 hould te gratcful Some day eco rot>ics will >e so perfected as to per nit of no dehtnallirg. no interest Ygvine. no public ohlieatons sayr tNose dr" to rhe np!lic itsalr uptil 'hjs ideal shall bo ~oali2na it will b. wise fo follow th" hest cisfoms of the age in which vc live accordiu, 10 tho best ljghts we can summon for our guidance"