Lincoln County leader. [volume] (Toledo, Lincoln County, Or.) 1893-1987, 1917-09-14
TO BOND OR NOT TO BOND?
THAT is THE QUESTION

A petition has been circulated
asking the county Court to call
a special election for the purpose
of bonding the county in an ad-
ditional sum of 100000 to build
and improve roads in this coun-
ty. AS this is a matter of great
Importance to the taxpayers of
the county | ask a limited space
in the Leader to submit a brief
argument against the PROPOSE
ton.
Our present financial condition and
the sacrifice OF life and property which
the greatest war in all our history i'm.
poses upon US; the uncertainty of
when II will end or of the future bur.
dens that II will impose upon us; the
high cost Of material and labor which
will add from so to 100 per cent to the
cost of construction are factors that
must be taken into account before ven-
turing on such an expensive enter
prise. The criminal extravgance OF
the state and the high rate tax levies
in this and other counties have al.
ready retarded the progress of the
state and brought our growth to
standstill. Homeseekers are giving US
the goby. The first qeustion asked by
prospective investors is What is your
tax rate" We have already voted
nearly half million dollars in bonds
for harbor improvements; the state
has issued Six Million Dollars In Bonds
and our proportion Of that amount is
charged up to us. II we vote the $780,.
900 now asked for It will bring the
bonded Indebtedness to approximately
/ 100000. The annual interest on this
amount will be $4,000, an amount that
will nearly absorb our annual tax levy.
large as It is. This vast debt is a mort.
gage on our homes, It is first lien on
every acre of your land and every dol.
| lar OF taxable property. What will
/ your farms be worth. There will be no
buyers. A good many people deceive
themselves as to these bonds; they
think that because the payment ol
principal is put of for a term years
/ that they will not have to worry. As
n matter Of fact If we assume the re-
/ possibility for all these bonds we will
have to go down into our pockets ana
dig up during the 20 years 81 .OSO.OOO
IN interest and still have the principal
b. nay, Gentlemen and Ladies'. are you
willing to assume this great responsi-
bllity?
The arguments and promises of the
promoters this Bond issue are mis-.
leading. When Mr.. Jones was can
Naaaing this part OF tie county I'm the
interest Of these Bonds his stock Il.
gument consisted in comparison OF
this county with Tilamook county as
to roads and the price Of butter fat.
He made n good argument but. the
trouble was his premises were not In
I''NNiN "AAh NlN id'AHs ilt 'ldllu'N
that Tillamook farmers were more
prosperous than our farmers. that they
got more for their butterfat and that
this prosperity was owing to the fact
that they had better roads. Twenty
years ago Tillamook was more pros.
porous than Lincoln. At that time she
had no railroad and we had one. AT
That time we had better wagon roads
than Tillamook. Commercial men told
me that they had to nearly risk their
: lives in going from Sheridan to Tilla.
nook by stage or livery. Now II Mr..
Jones argument is good our better
roads handicapped us at that time.
But the facts are simply these: When
Tillamook had neither railroads nor
wagon roads she proceeded to do
business on her own hook. Her farm.
ers united on a single industry--the
making OF cheese. They made good
cheese and by cooperating they made
enough Of Il to attract the attention of
buyers. They improved their herds
and Clcard the brush from their pas.