Evening capital and Maryland gazette. (Annapolis, Md.) 1910-1922, 1920-10-19


II IS. therefore. plain that the ori-
ginaiors IL the present bill have not
only adopted a plan which has been
relegated 70 he past BY every com
mun!ty which knows how to protect
itself but have gone q step further
.han ever lefore and have provided
bonds none IS With may be retired
before The end Of thirty years whereas
tle movement has been towards OBJ
legations aaieh are diminished, With
al me lnterest on thai portion, eyery
year
New ne aGetion as So he better
plan may he answered directly
There viii BIZ available Tor our
schools in account of amounts % he
paid by Baltimore City tor Coillits
properly taken over when j annexed
+ portion AZ Aane Arundel about SlFh
f0t 4. year for ten years This amounts
to two thirds of the Whole bond issue
ana sil6ali l.4ye been ased IN tile Way
Mh8eA w0uld relieve the taxIgayeFs Of
81 macs III ire burden as possible
In other words, il should have been
devoted 10 the repayment of the bonds
as promptly as possible 50 that ihe
bonds would moi have extenied over
thirty wears, III twenty of which the
mlola burden mus tie carried b. new
revenue
Obligations on the baSis ] have
mentioned should have Ettn incurred.
Ito lie psna ~ either IN zen Or liz
teen years. III The first case $5i0llp
4 year ircm The general flind would
nave ta Sc added each year, and u
he ecsna. Tie SI00UO MOULD have 70
81 paid from this fund annually for
Tie last tive years. or course, i1ier
est woull lave 20 be paid each year.
II wo;tld grow steadily less however,
lor II Tan he arranged 70 ht spread
out oyer tie whole term in equal in
stallmefts, Tie loans being made %
come due 10 different proportions 20
ar Is cqn4llzr the amounts Of annual
pas meats
If the bonds had run lon years.
the total amount OF interest would
glaye been Sa9.50o calculating the i.l
terest al SIX per cent tile County
would be Tar more likely to float SCI
curiiies af this kind al SIS per cent.
tlan ii Nil 20 float the bonds al five
per cent and tile total amount paid
Tor he bonds would have been $685.
800 and $ll5, 500 would be saved. II
the bonds run for fifteen years the
total amount paid On them will De
S222 900, xtill d saving Of $4,000 over
The present plan
think | have given complete and
satisfactory answer TO the request for
The details OF a better plan than the
present, SO far as the public is con-
cerned. thnagh it may mol We satisfae-
tory 10 The trainers Of The present
plan
am opposed 10 such a plan on ac-
count Of its inherent unfairness and
oppressiyeness, and / am opposed 70
III because II is clearly against the IN
serests Of the public schools by maxi
ing it impossible in the future To
provide for further building or even
for proper maintenance The effect
OF The bin will. believe, be to make
II necessary To resort TO some such
method as shortening the school term
in order 10 keep within the revenue,
and any increase Of teachers salaries
would be made impossible
That this must be the ease, is very
evident If vie burden ourselves with
s3l5 600. $4,000 Of which goes t.
tho banks. when we could have saved
nearly, or. more than 100000 of this
sum. then we are just that less able
10 take mp other beiterments. The
policy is an unsOund one, and We had
better defeat II and try To frame Q
measure for the next session which
Will really be for the schools and nos
tHe banks
This sum Of $4,000 will not do all
1.-The necessary things by any means.
Land We should realize that other
places will want improved school
buildings and should have them This
bill will postpone indefinitely any
further construction Or scho0i nnIid-
ings. for it is 50 framed that there
will be no lessening Of the burden
until the thirty years have past +
We borrow money Oh q plan like this,
the net result must be an injury, for
We cannot throw away such sums and
not fee! II il the future
II should have occurred at once %
the trainers of this bill that the mats
ural course should he 10 make use
Of the $1,000, Iii round numbers.
which the county will secure annually
from Baltimore City for ten years 10
retire any Indebtedness contracted
for school purposes at The earliest
possible moment.
The county obligations shoall have
/ been contracted on the basis / have
set out ana his@Siooo0 applied each
year to retire such obligations Is
obvious that this would he the way
TO keep down the interest ehlgoes.
Had this been done and sl5.009
paid each year the taxpayers would