The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1917-03-15
Prejudice Against Bonds


against bonding the state for improv
cd highways but the sentiment toda!
does not seem TO favor the idea. How
silly. Everyone admits that NOR,
money ought to be expended on thu
roads. Yet raising the entire requir'
ed amount in one year by taxation
would be a serious hardship on the
taxpayers.
| Bonds and state taxes-the very
mention Of them throws a scare into
the minds Of many people, What is
there so awful about bonds and direct
state taxes? If the state had to issue
bonds to pay off some old indebted
ness it would be one thing. But if
Londs are to be issued for a decided
and wanted improvement it would be
entirely a different matter. Borrow
ing money does not necessarily mean
that one is in financial difficulty.
When a large improvement is desired
it is good financing and good business
- borrow money to carry out such i'm
Iorvement. The future benefits will
take care Of the payments.
The opponents Of bond issue for
roads say "let US pay as we 60" That
is all right for ordinary road up-keep.
But the "pay as We go" will never get
Vermont anywhere so far as really
good roads are concerned 1t has not
in the past and it will not in the
future. To make the roads of YER
mont what they ought to be will re-
quire large amount of money in one
sum and expended under a concrete
and complete system of roads for the
entire state.
A bill was introduced in the legis-
Iature to bond for 100000 for roads.
This small amount of money would
hardly be a drop in the bucket"
Such a sum would show up so little
that the money would be practically
wasted. 1t would simply be another
,hapter added to the present patch
work system.
A few weeks ago this paper advo-
,ated bond issue Of 100000 to be
,aid for in 10 years by direct State
AK. The people seem to object to the
state tax in any form.
Now why not issue bonds for
5 100000 and let the automobiles pay
he entire amount, interest and all I?
~ paying s250O0O on the principal
ach year the entire debt would be
'iped out in 20 years. The revenue
rom the automobile fees would en-
rel take care Of this bond issue under |
lis plan. t
Begin next year and let every car G
new and old) pay a registration fee
$100 per rated horse power. De-
ease the fee 10 per cent each year
r five years. All new cars to pay
90 per rated horse power the first T
ar with reduction Of 10 per cent
oh year thereafter. Limit the 10 r
r cent reduction to five years. Then
addition make the minimum regis n
alton fee $500 a year. With some e
900 cars in the State this would G,
ing in revenue Of approximately n,
$4,000, which would take care of the -
crest charge and the first yearly Il
yment on the principal. h,
This plan would of course leave it -,
the State to take care of the roads ~;
.er being built. But if the automo- h.
e owners build the roads and pay AZ
the entire cost the State certainly ~
lid do nothing less than take care
their up keep. II,
But this pay as you go" will get u,
mont nowhere--for good roads. -,
2 bond issue is the only logical vi
ltion and it can be carried out -,
bout any hardship to the ones who -.
have to pay the bills.--Burlington ~.
,per. i
ma