The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1916-03-17
Bonds for Permanent
Roads Pay Big Interest.
CONTINUED from first page)

Leu us ucAt COu5luoI tuC oCCOtI QQc6-
ton, How best to administer and ex-
this question. Bond trustees must be
appointed. Surely the great county of
Polk can furnish three men of ample
ability and unimpeechable integrity
who can be prevailed upon to assume
the responsibility Of this duty.
The county commissioners have al
ready wisely decreed that the taxpay-
ers of the county shall, themselves, in
large measure, administer the funds.
The limits of the work have been set,
cost will be determined by competitive
bids upon definite contracts. and, in
consequence, in voting the bonds, the
people will also be fixing the mileage
of roads, width, materials and the price
to be paid. feel sure that we can
trust our active board of commission
ers and the trustees of the bond issue
to get all the contracts call for.
Two other questions were raised by
Mr.. Mann, which might be briefly dis
cussed. The first, that of having in
hand so large a fund as 81, 900, 600 at
one time; and second, that of a possible
increase in taxes.
As to the first l shall state that this
could be obviated even though the en-
terprise be financed by bonding. Let
the bonds be placed in the hands Of the
trustees with instructions to sell annu-
ally only such amount as is needed to
finance the work Of that year. Interest
then will have to be paid only upon
the bonds sold. OF course the roads are
desired the earliest possible; but II wis
dom and expediency dictate the con-
struction work could be extended I've
two, three, four, or five years, and the
bonds sold accordingly. Or, the whole
issue could be sold at once, If a better
sale could thus be made. and the funds
not required for any given years work
could be deposited in banks that would,
l am sure, be willing to pay a small in
terest on these deposits.
Would the bond issue require an in
creas in taxes? Apparently not. From
this years taxes, the county ought to
realize for road purposes, in round num-
bers, $l13,6 600. This furnishes for in
terest $50, 900, for amortization, or
sinking fund, $50, 900. for care of con-
victs, SIS, 900, leaving a balance of
So, 900 for further expenditure on road,
although the $25, 900 for care of con-
victs is, in fact, an outlay for road
upkeep.
But suppose the bond issue should
require a slight increase in taxes. This
would not be an evil at all. Cost of
road building is IN investment that
yields large returns. 1t will save citi-
e. s-farmers most of all-large ex-
penses that would without the roads be
required in repairing and replacing We
hicles more often and in replacing worn
out horses. The greatest saving in x
pense, however, would be the saving
of time. The U. S. Department Of
Agriculture has statistically shown that
in the wheat region, a days haul has
been doubled in amount; in the cotton
belt almost doubled on account of i'm
provement in roads. The citizens of
the county would be able to pay out of
these savings even a large increase in
taxes and yet have a pleasing balance
to their credit in yearly profits. Who
cares for taxes, if the money raised by
taxes is spent in a way that yields him
a larger yearly profit? Profits, bal
noes to our credit, are what we are all
seeking. A tax that yields a profit is
certainly not a burden.
The savings mentioned above are not
all the story. Increased population,
would. during the life of the bonds,
Good roads, intelligently built, econom-
THE TAX BURDEN. My conclusion,
therefore. is that the man who votes
for bonds, votes for individual prosper
ity and greatly increased social wealth.
w. L. Clifton"