The Anderson daily intelligencer. [volume] (Anderson, S.C.) 1914-1915, 1915-03-20
BONDS FOR HIGHWAYS
Valuable Official Suggestions For
Everyone Interested in Good
Roads.


From the Manufacturers Record }
A most practical publication Is
Bulletin No. -136 of the United States
department of agriculture, contribut-
ed by the Office OF public roads, being
a compilation by Lawrence /. Hewes
and James w. Glover OF data and an
analysis of economic features affect
j ing construction and maintenance of
| highways financed by bond issues,
| together with the development OF the
theory OF highway bond calculations.
In Introduction the statement is made
that the practice of issuing bonds
for highways and bridge construction
by counties and their subdivisions has
become quite prominent, and this
statement is reinforced by the follow
ing:
IN 1903 counties, or All per cent
OF all the counties in this country,
there were outstanding highway bonds
on January l, 1914. The total amount
Of such bonds voted, as ascertained
by the Office Of public roads up TO that
date. was S286,556,073, OF which
township bonds alone amounted 10
$57, ,153,71S. The amount of outstand-
ing local highway bonds on January
/, 1913, was approximately 1902 ,O07,-
| rs. This amount was increased dur
Ing the year 1913 by current issues
noted below. but was also slightly
decreased by maturing payments.
The comfy highway bond Is es-
sentially municipal bond; that is, Il
bond issued by public corporation.
Statistics indicate that all municipal
bonds are regarded as excellent in
vestments, and are frequently used by
| banks as @ second reserve. The
amount Of highway bonds issued is in
dicated by comparison with the $79,-
1858 OF Irrigation and drainage
bonds authorized in the interval from
1907 to 1912, inclusive.
The progress of the local highway
bond movement is further indicated by
the diagram OF first issues for the
| interval 1000-1913. Dates of first is
sues were reported, however, for only
579 counties. First issues for 1912 and
1913 ere practically complete.
During the past three years coun-
", district and township highway
and bridge bonds were voted as fol-
lows: 1911, $29,200,022; 1912, s32. ;
022,703; 1913, S50,445,T5s--makIng a
total of s111 1,66S, ,4s1.
There have also been voted State
highway bonds which total $15S, $780,
600. The grand total of all highway
bonds voted and reported TO the Of
flee of public roads to january l..
1914. Is, therefore, $415, 5,147,O73."
The bulletin presents diagrams,
half-tOne Illustrations and statistics In
illustration or its text dealing with
the economic value OF the market
road, the costsof highway construction
and maintenance, the methods OF is
suing bonds and the total cost of
highways. II .dwells upon legal re-
striceiG1s on bond issues and the need
Tor highway engineer. and, discussing
the advantage OF bond issues, says.
The issuance OF highway bonds is
essentially a method OF capitalizing
the resources OF a community for the
purpose o fcreating. improved high
ways. The fundamental advantage OF
tho bond plan Is the construction OF
a good system of roads at once, but
there are secondary advantages in
building roads in long stretches and
in tho planning of the maintenance
OF such roads. !
Fhe question Is not merely wheth-
er Q community shall incur a debt:
u Is also n question as to whether
the maximum economic efficiency and
tho fun development of the public
wealth gill be best promoted by using
Emphasis has been placed In this
publication On the strictly measurable
economic benefits to community
from road Improvement. There are
many additional economic benftts ana
very great social benefits which sre
no treadily measured Increased
school and church attehaanca Il
shown Ia repeated instances TO me an
Immediate consequence OF better
roads the general stamnlnS to bust
ness is snic,ilt TO evaluate. II Il eyi-. /.
aent, however, that business and pro-
iesstonal nien OF all classes are among
She tirst 70 be benefited. This IS esA
pecialiyS true OF pnyBicians The e6st
OF upkeep OF auton1o biies; .paftfculAs-
" or tires IS ecorting yearly a large
Item, ana the Sroad condition IL az
most serious tor for the autoffobi
ist ana tue usur.s OF motor true Is
IL should be Nndarstood fs ti,a
outset that THO auction OF debt atz
selt as relatl1aiF less iInp nrkant thai,
the question of aslSsa nlanniss essd
go0d man aSena1 s. Esaii lla
very presence 1t 4. rSsiSs
system increases the Faste u
county E.r0perty, 81 snd tllef Sse RI.
resources snuportina the
steblfshaa business pflhcI s.
that extension Of credit Within
limits ~ necessary foS alsxs.Ai.bt
suits I'he tina ancfna of al !; :
ieTpficas by bend fxs M ,6s
ed very areativ S IttIls S.
show Tint slnSfn 4 s IS s. a s Z;
bonds wefe & su (. & 8 f,1 ..Es (. "a i &.
italixins pabh 81 IS.
priEee at Re et: s S Z 8 lsI..l .,.n
Meeting Al a''. a IS
FpnegiuiAs se Il o. 5.'.' g: & { ~.
g IN ,slanls ss = = s IS
hi inati is!i. s.,
abpf K i7l II. s I'LL. s.