The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-09-15
Bond Issuing.

The issuing of bonds for any pur-
pose, is simply the public giving their
note for the amount of the issue, and
when money is borrowed for a specific
purpose, either public or private the
cause for the expenditure and the as
sets for repaying or collateral on
which it is borrowed is the factor that
determines the value and interest of
said paper.
When therefore. we issue bonds of
a state or county, we should not or
can not afford to load the state or
county with Indebtedness, that the as
sets of same have to be increased by
burdensome rates of taxation, that falls
on the few.
Our present system of taxation OPP
crates as a fine or penalty en- the
small householder and farmer, while
the real estate holders and rental
agencies are immune, for rents in
crease when taxes are raised and the
renter pays the advance, lands held for
speculative purposes has a very low
value on the tax books per acre and
when a man buys a little farm and
begins to use his earnings energy and
stints to build a home and till the
SOIL he first pays a good price for
the open land, and as he improves the.
place he is taxed for doing so, hence
he is fined for being energetic and
developing the section where he is try
ing to make a living. This applies 10
city and country alike, while this may
be called Henry George doctrine" or
any other doctrine, BUT 1T IS a
FACT. If we had cabbages called
roses, we would eat roses and cornRd
beef and wear eabbages on the lapel
of our coat and the ladies place them
in their hair and wear them as cor
sages.
So when. and how and by whom
are these notes in the shape of connty
bonds to be paid?
Pensacola paid for the old Pensacola
and Pollard railroad built many years
ago, and we presume is still paying
interest on the old bonds, and to what
extent does Pensacola occupy today on
the great railroad system, beyond an
overgrown flag station?
Bond issues in the past without ex-
ceptions, had so much fringe and de-
tailed executive and legal ability at
tached to their value to the public real
good and expenditure for the general
veal, until it is like giving the wild
African a gaUdy necktie to make him a |
covering for his natural mode of
dress.
1 am not condemning any public i'm
provement, either roads or schools, or |
any means to bring the greatest good !
to the grea test number, yet a bond |
issue is not merely voting on certain !
day, but knowing what you are doing !
when you vote, and cast the sanction |
for the act in such away as we are |
sure of results and ends of the action. |
So in the issuing of any bonds, first
the means of raising the payments Of |
same, then the real cash that will be
expended out of every dollar for the |
cause of issue, then the real improve !
ment as to the countys development |
in every industry of the same and !
above everything the great productive |
ness of same as to raising our sus- |
tenance or food, or the agricultural :
and husbxndry asset.
We need and must have good roads,
and good schools; these are the para
mount every day demands, and will |
bring on the higher ideal of citizen
snip. Yet we must have all questions |
as to the best and cheapest and most |
practical means and ways to have /
them so as not to be burdensome TO |
the class of people that are the real |
makers and developers of the country,
the wage earners. and unless we make /
changes in our present system of OBJ /
tanning assets with which to pay our
obligations or notes we issue. What /
will the harvest be?
{ Signed j. w. CRAZY, SIX,
Bluff Springs, Fla.