The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1915-05-06

WIN bnih ulhJcrlhl We nave hcfF,
this will mean about 49, inches
loose, and mind this, the gravel
viii be of the same thickness from
edge TO edge, being confined in
the limits of 10 feet by earth
shoulders of the same height as
the depth of the gravel when II
is rolled. This is the uniform
practice in every State in the
micn where modern methods and
science goes into the making of
the roads and il has been fonnd
sufficient in all cases.
Q. In what way will the State
help us TO pay this bond issue?
a. | had Mr.. Robert Terrell,
State Road Commissioner for Ken
turEy, ON the telephone from
Frankfort this morning and he m
formed me that the State would
make yearly payments 10 tsc
county of Fulton of from S5OO0
TO $4,000, which could be applied
TO IA sinking fund to pay off tn
bond issue, until the State had
paid in to the county of Fulton
onc-hd,f of the total amount OF
tue bond issue, or $4,000. The
amount which the State will pay
yearly will depend upon the To-
tai amount expended by the coun-
~ OF Tulton yearly, but in an'
event VIII total one-half of the
100000.
Q. What will it cost the coun'
/ y to float this bond issue7
A. The maximum the county
will be obliged to pay in any one
year will be $4,000. This will
be the interest on 100000 at A.!
per cent per year. Ii the State
payments amount to 5000 year
| ly, this amount placed out al
4
compound interest and left 10 ae
cumulate for thirty years will
more than pay 100000. Ii III,
state yearly payments amount tC
$4,000 until $4,000 has beer
paid, or 10 years, and the SAME
procedure is followed, the county
can retire 100000 worth Of
bonds at the end of 10 years and
then assume the payment of th'
bond sinking fund and interest OF
the remaining 100000 at a tota
cost to the county of S93ll year
lily for the remaining 10 year
life of the bonds
| know that these statement
seem incredible, that the pay
ment by the State To the county
of $4,000 will wipe out a deb
of 100000, but my statement
here tonight will be borne out b.
any banker or bank employe II
the county, or elsewhere, and any
one who can figure partial pay
ment and compound interest, wit
a few minutes work can verif!
what | say. | have no axe q
grind and, consequently, no rea
son for stretching facts. On III,
contrary, | am sent here by Ia,
government, absolutely unbiased
TO tell you the truth, and ! eoul'
not hold my position with Unel
Sam very long ii | did not do so
Q. Will the raising of $500, 90
by bond issue increase our roai
taxes?
A. No, so far as | have beel
able to find out in my limite'
stay in your county | have ex
amlned into the financial situa
ton with regard TO the take
raised yearly for road and brldg
purposes, and to the best OF m
belief, after the Sl3,500 is PAID
there will still be money left I
drag approximately 100 miles o
additional roads, making 200 i
total, and at the same time main
tain in good condition the grave
roads you propose 10 build. 70
spent last year on the roads o
Fulton county approximate
$4,000 If but $4,000 yearl
were raised, and this | am in
formed Will be the approximat
amount available for the neS
few years, the bonding propos
ton and the building Of 10
miles, approximately, of gray,
roads would be sound financially
III the proposition were not SCUM
financially, the government cOul
not afford to lend countenance I
the movement in the way it is dc
ing by having me here.
Q. II farm values increase du
to these hard surfaced road
won I il raise our taxes2
A. Not necessarily. Will
farm values will increase that