The Anderson intelligencer. [volume] (Anderson, S.C.) 1914-1917, 1915-03-23
BONDS FOR HIGHWAYS
Valuable 0ificlnl Suggestions For
Everyone Interested in Good
Roads.

LtSEyOuc JuttlcSiGO Ill NOOu
Roads.
(Fronl 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
Il compilation by Lawrence i. Hewes
and James w. Glover or data and an
analysis oi economic features affect
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
become quite prominent, and this
Sta;emen, is rein forced by the follow
inr:
In 1905 counties, or Ill per cent
.of ali the counties in this country,
there were outstanding highway bonds
on January l, 1911. The total amount
OF such bonds voted, as ascertained
by the Office of public roads up TO that
date. was S2S6,556.07S, of which
township bonds alone amounted to
$57, 7,l5",718. The amount Ofs outstand-
ing local highway bonds on January
l., 1913, was approximately S202,007,-
i6. This amount was increased dur
ing the year 1913 by current issues
noted below, but was also slightly
decreased By maturing payments.
The county highway bond Is es-
sertially municipal bond; that SIS, q
bond issued by a public corporation.
Statistics indicate that all municipal
bonds are regarded AZ excellent In
vestments, and are frequently used by
banks as second reserve. The
amount Of highway bonds issued Is in
dicatcd by comparison with the S79,-
l41.6S8 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
tho. diagram Of first issues for the
interval 1900-1913. Dates of first is-
sues were reported, however, for only
$40 counties. First issues for, 1912 and
1918 are practically complete.
During the past three years coun-
ty, district and township highway
aud bridge bonds were voted as fol-
lows: 1911, $29,200,022; 1919 s32,-
022.703: 1913. 50,445, ,f56-making q
i. : - y
There have also been voted State
highway bonds which total $15S,59O;-
600. The grand total Of all Highway
bonds; voted and reported to the Of
flee OF public roads to January /,
1914. Is, therefore, S4f5,147, ,07S."
The bulletin presents diagrams,
nal f-tnns ii!ustratsaus aud statistics III,
illustration of It's text dealing with
the economic yalua OF the market
road the cost 3of highway construction
and maintenance, the methods Of is-.
suing bonds tand & the total {; cost of,
highways. It dwells upon legal y re-
stricttons on bond issues and the need
for highway engineer. and, discussing.
the advantage of bond Issues, says: 81 s.
The; Issuance OF highway bonds IS
essentially method Of capitalizing,
the resources OF community, for for the Il
purpose o, fc-eating improved high
ways. The fundamental advantages 5of
the bond plan Is tho construction xof:
a good system OF roads at once, but
there are secondary advantages sin
jhniluing roads In long stretches Sand
In In the the planning o9 the maintenan
The question Is hot merely, lMSilethss
e5 community shall Incur alsdebt;
IT Is also !. a question as to whether
the maximum economic efIici and
the full development or the public
wealth viii he best promoted BY using
public credit ,i. (. &;
En- phasts has been placed in this
pm, lisation m the strictly easura BE
economic benefit to q / community
from road Improvement. There are
ma N Al add :tional conomic benfits. ana !
CT