Roanoke Rapids herald. [volume] (Roanoke Rapids, N.C.) 1914-192?, 1919-08-01
Mr.. E. l. TRAVIS WRITES
ON ROAD BOND ISSUE

| want to urge the voters of
the county to vote for the Road
Bond Issue Of $500, 100000 next
Tuesday. | have given this mat
ter mature thought and study,
and ! believe it is the finest op-
portunity for a great forward
step that the county has ever
had, and one which, if not taken
advantage of now, will probably
not come again.
If we got nothing but the
$500, 100000 for which we issue
bonds, it would be a good thing.
But in addition to this we will
get at least that much more from
the State and Federal Govern
ments, so that by raising $780,
000.00 ourselves, we get one mil
lion dollars to spend on our roads.
1t needs no argument in this day
to prove that there is nothing
that makes more for the public
good in the way of enjoyment,
enlightenment, uplift and profit
than good roads.
Now when the people of a
county have an opportunity to
have two dollars put into that
good work for every one they
contribute, it sounds incredible
that even one doubts its wisdom.
| know Mr.. Kitchin has said he
don Z believe we will get the $780,
10000 from the State and Nation.
1t is very easy to say that espec-
tally for one who has MT taken
the trouble to investigate. Before
assuming to advise the people of
my county on so important a
matter, | have made an investi-
cation so that | could not only
decide right, myself, but could
be sure that the statement which
| make to the people is right.
We will get this aid from the
State and Federal Government.
The money is already in the
hands of the State Highway
Commission.
The objection is urged that we
would have to pay so much inter-
est on the bonds. Mr.. Kitchin
mistakenly stated it at 5000, 600. 90.
His article shows that he has not
even read the law and does not
know what it is. The bonds do
not all run for thirty years as he
says. They are to be retired in
annual installments beginning
three years after the issue. Ev-
cry annual installment paid lessons
the interest for all the succeed
ing years. The average period
of all the bonds is about sixteen
years. The total interest paid
even at six per cent land it may
be less) would be $3.50, 600. 90.
Therefore the total in interest
and principal to be paid in the
whole thirty years will not be
over $3.50, 900. 90, when we are
going to get right down for pres
ent use at least one million dol
lars.
All that we will ever pay in
both principal and interest will be
less than the amount we get, and
during the thirty years we are
paying this we will have the
benefit and enjoyment of the
good roads. If the argument
against the payment of interest
was good, tho, we would never
have any great public improve
ments of any sort anywhere, and
would never have successful large
business enterprises. We would
have no water, light or sewerage
systems in any cities, no graded
schools, no great cities, no great
nations, no great industries. All
these things are done on bond is
sues running for long terms, or
which the total interest has Of
| ten equalled the principals. 1t
is recognized the world over as
sound business policy. Nearly
every large business enterprise,
whether factory, mercantile, or
railroad is based either on bond
issues, or preferred stock issues,
which are simply forms of bond
issues usually paying a higher
rate of interest. Every manu-
facturer, merchant, or farmer, or
business man OF any sort pays
interest every year of his busi-
ness life. They can't do busi-
ness without it, and it amounts
in their lifetime to enormous
amounts. But money is worth
the interest on it all the time
you have, and just as long as you
keep it. 1t is worth this to the