The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1917-03-21

.,
"ithout which natural resources,
whether mineral, agricultural, or 9TH
erwisc, cannot reach their full deycl-
opment. This is a day of,progress on
all lines and we have to progress with
IL or be left. Competition is keen in
al INES OF business. Labor prices,
mule prices and living costs are
mounting higher every day. The coun-
" without railroads cannot compete
WIN the county that has them. Neith-
Ell can the county without improved
highways compete successfully with
the county that has them Labor at
% cents per day yields % cents more
pfoit than similar labor at $l.00. The
team that carries four bales of cotton
at load is worth two teams CARRYING
TWO bales each. The farmer, who by
reason OF his better roads hauls two
tons OF fertilizer at load gets his
cheaper than his competitor who hauls
one ton on a bad road,-which means
larger profits. The bad roads farmer
loses the digerencc in the mud. He
loses the difference on every load
hauied. His team and wagon wear
out quicker and he loses the differ
cnce. lie has less time to prcparc
his land and loses the difference on
me crop. His section is not as at
tractire to the home seeker and he
loses the difference in church and
school hcilities and in community
life. His boy is attracted to more
favorable surroundings and he loses
the difference in his old age between
and loneliness
He sells the farm at half the price
ana has lost the other half of life
times saving.in the mud!
The idea of road bonds is not new
The south is the asst section in the ,ln-
ION to begin the building Of improved
roads, and South Carolina is about the
last OF the Southern States. In all
OF the other Southern States there are
numerous counties that have issued
bonds for roads. Last year North
Carolina spent on road Improvement
tho sum OF $5,l00,000 Georgia coun-
tics spent $5,000,OO0, Texas spent an
proNimatcly $20,000,OOO, and will dou-
Die that amount for 1917. Florida in
recent years has spent $1,000, 600
others could be named, but space for
bids. The work in all these states
started on small scale, just as il is
tarling now in South Carolina. 1t was
found to pay in dollars and cents,
hence the increased amounts invested
IN roads. The counties that are inn
proving their roads arc increasing in
population. in industries and in
wealth and are rapidly outstripping
others. The bond method is usually
adopted as furnishing the cheapest
money and available in larger volume,
making possible the earlier compile
ton of the work-a complete system
OF highways cannot be built by drib-
blcs.
interest on tho bonds would be at
from l-2 to 5 per cent per annum,
while local money is worth s per cent.
Therefore the road built with bond
money is the cheapest road. have
boon asked the question. what will
he my part Of this debt?" a loan OF
100000 against the total of $780,
200 property assessed on the auditors
books gives the taxpayer who assesses
$1,000 Of property tho um of $40.62 as
his share of the loan, or his share or
the bonds. The interest on this at 5
per cent would be $203. If the bonds
run 80 years, then the small sum Of
G2 cents annually set aside as a sink
ing fund and accumulated at per cent
compound interest will pay off his
$5o.G2 when due, giving him total
annual cost Of $2.65 or about 2 2-3
mills tax. For the man who assesses
500 the annual cost would therefore
be 2G 12 cents. This calculation is
on the longest term, and at the high
est rate Of interest possible under the
act.
Should it be decided to issue serial
bends maturing In say, part every five
years the figures would vary slightly
from the above. 1t is understood that
this a cunt Of money would not build
nigh class roads over the entire coun-
ty, but W. believe. that by judicious
distribution Of the work, improve
ments OF permanent character could
pc made at least on the worst portions
Of the important market roads of the
county which would be q maicrial