The Tucumcari news and Tucumcari times. [volume] (Tucumcari, N.M.) 1907-1921, 1916-11-02

" III 1uotlI plouu VI NV lpou oAia'
ing record Of Ii last four years, so
Ia every sincere advocate OF good
roads In New Mexico.
With meager funds for the tremen-
dous task OF providing n network OF
roads In the fourth largest state OF
the American Union, where practi.
cally nothing had been accomplished
during many years OF Republican rule,
remarkable progress has been made IN
the construction OF a comprehensive
system OF permanent state hiShWPys
Main 'outes OF travel, connecting all
important ccnte.s, have be IN %ol'encd,
and practically every section OF the
state made easily accessible.
From July II. 1912, to July 81, 1olC,
a total OF s6l4.7S9.3S OF state money
was expended under expert suporvis.
ion on New Mexico highways, and ~
e~ry'dollar spent was una I" TO return
q dollars worth Of value to the state
Some of The finest stretches vi road
In the United States have been built
In New Mexico, and the state . strides
in highway construction have exceed
I'd those of many OF the older and far
weather. commemorative. In the road
building campaign of the Democratic
administration the constant endeaNor
has been to use the available funds
in such a manner as TO provide the
greatest good for the greatest num-
Der.
The state none has not been scat.
tered here and there on temporary
construction. II has been used in ac-
cordance with a systematic plan Tor
permanent highways.
New Mexico. exceeding in size all
but three OF the forty.eight states,
calls for . state highway system sew.
eral thousand miles In extent-a sys.
TEN that requires several million dol.
lars TO complete.
In addition to the state money spent
on state highways. q total OF $2G3,
0s5.Sb has been expended In the con
struction OF ll3 bridges. the plans for
which were prepared and approved.
and the work supervised by the state
ongineer. These ll3 bridges include
steel. cement and wooden structures.
County road boards have q. operat.
cd with the State Highway Commits.
sion In tne construction of state high
ways. and have built other roads In
heir counties. In the last four years
" tolAt Vi i,uSo,V'o''I VI 1ouA'y a.
has been expended On roads.
The Highway Bonds.
Much OF the money spent OF state
roads during the last year resulted
from the sale of the $4,000 issue OF
state highway bonds, in August, 1915,
The bill providing for this Issue OF
bonds was passed by the First State
Legislature in 1912. II was nothing
less than q deliberate attempt TO tool
hose clamoring for good roads, be.
cause IL was neycr intended hat the
Uonds should be sold. SoIn" OF the Re.
publican leaders have openly admitted
,Sis since. Provisions against the sale
Ot the bonds wak made by specifying
that while they should draw no more
than four per cent. interest they
Nhould be sold at no less than par.
y four per cen, New Mexico bond
II par was "a jok. in the bond mar.
kets of the United States. 1t was alb.
would be unsaleablc was known by
'hc Republican bosses when the bill
was passed.
The people OF the state were eager
Tor roads. and approved the bond issue
~ the general election in 1912. They
did not then generally realize the de.
option that had been practiced upon
them.
Repeated attempts 10 sell the bonds
were made by the Democratic Off
cials. but these OF course failed. And
II was only after bond prices had adj
yanccd by reason OF the general pros
psrity resulting under the Democratic
national administration that the dif
ference between the par value and
market value OF the bonds was re-
duced TO such M extent that the Dem
ocratic officials were able TO work out
a plan for the sale OF the bonds.
This plan called for subscriptions
from the counties at a rate of two pei
cent. Of their share of the bond pro
ceeds. and the depositing OF the bond
proceeds in banks for stated periods
70 that interest might be earned. this
interest and the county subscriptions
q be combined 10 make up the differ
enc between the par value and the
market value. to the end that the
state should receive the full par valu,
OF $500. 900.
Interest payments were advanced b,
the banks. and In August. 1915, III.
sale OF me DOnuH was ClOseu ana SJOo,
900 paid into the state treasury. Ev
cry detail OF the plan by which The
bonds were sold was given wide pub
llcity by the state press at the time
and the plan was heartily approved b,
the people OF New Mexico. II was tht
most popular move eve made.
The interest paid by the bank:
wen directly to the state. as II formed
part OF the $780, 600 paid into tn,
state treasury. BY subscribing two
per cent. the counties were enabled 4
receive fifty times the amount OF theil
subscription In additional road money
But before the bond sale was con
sumfnated the Democratic official!
were forced to overcome every Re
publican obstacle that could be placed
In the way.
Republicans In tho Republican ccun
~ Of San Miguel brought suit 10 en-
join tho county from making the tw,
per cent. subscription. II was hopet
TO tie up the subscription Of ever,
county In the state.
Ranuhlienn cnunty ammiaai0na A.,