The Birmingham age-herald., 1920-08-09
WARRANT ISSUE WITHIN THE LAW,
 STATES JERRY GW|N
"Post-dated' Warrants a Myth, 7" States President, Gwin-Warrants Dated
 on Date of Issue

In reference to the sugges- tion that the board of revenue had issued "post-dated" coun- ty warrants bearing interest in excess of that allowed by the law, Jerry Gwin, president of the board, stated yesterday that he had no knowledge of any "post-dated" warrants be- ing issued by the board, but on the other hand that they had is- sued interest bearing" war rants, bearing the legal rate of interest and dated on the day they were issued. x . MT. Gwin states that the parties re- sponsible for. the suggestion could have easily ascertained the true status of the warrants issued by referring to the minutes of the board. which, he states, are open to inspection of the public at all times. He deplored the seeming eff fort on the part of some of the citizens Of the county to take snap judgment on the actions of the-board and to ar rive at conclusions that have no foundation in fact, which, he states. is harmful to the best interest of the county and tends to create dissention and strife.
 MT. Gwin further states that the
 county is well able to care for it's
 financial obligations and that so
 far as the road situation is con
 cerned everything to carry on the
 work has been arranged.
 GWIN'S STATEMENT
 In speaking of the matter MT. Gwia. said:
 T am at a loss to know where the parties making the suggestion got the idea that the county had issued post dated warrants. As a matter of fact the board on Saturday issued s5o,0oo worth of interest bearing warrants dated August :. 1920, and bearing s per cent interest to maturity. This transaction is duly recorded on the minutes of the board of revenue and available to any one who cares to look it up. We will probably issue another s5O,0O0 today, which will be dated August 9, 1920. This will be the case in any other warrants that we may issue, and at no time is a post warrant issue contemplated.
 ''Thesc interest-bearing war
 rants take the place of the bond
 issue. which. owing to the state of N
 the bond market, we were unable
 to place, and the payment of the
 warrants will be carried out just
 as we would retire bonds. The
 taxes of the county for the .next
 few years will he approximately
 threc-qunrters of million dollars
 yearly. and from this we will set
 aside certain fund fo retire the
 warrants ns they fall due.
 SNAP JUDGMENT
 T regret the parties responsible for the suggestion saw fit to rush into print without ascertaning the facts in the case, which were easily availa ble. It would seem that they are willing 10 embarrass the county by taking snap judgment on these matters. which is not only unfari. but has a tendency to hurt the credit of the county and ere ate dissention and strife. >The county lis well able financially to carry out it's road improvements as contemplated
 T sincerely trust that the unfair criticism will cease. for while I am fully aware that we are liable to make be understood before such criticism that before issuing. the interest-bea Messrs. Forney Johnston, Frank g. White and W. K. Terry as to their legality"