The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-10-28
Press Comment
The Soul of Business.


sential each year. Transportation is a
national problem. The railroads are not
capable of solving it single handed,
| and permanent highways is the rem
edy, a remedy which would also ac-
/ celerate rail transportation, since the
producer would be made more accessi-
BILE to the shipping point This is par
| ticularly important in Florida, for our
produce must reach the market in the
earliest possible time. Delay is dis
astrous.
Now as to the method of raising the
interest for these bonds and eventual
ly redeeming the bonds themselves:
The sentiment of the people de-
mands that the money be derived en-
tirely from automobile license reyen-
ues. Personal property and real es-
tate will not be affected. In other
words, only the citizen who uses these
roads will be required to contribute
to their construction. The automobile
license tax is less in Florida than in
the majority of other states.
Briefly stated, the present automo-
bile tax will be in creased fifty per
cent. Numerous reports have been cir
cuiated as TO the new proposed license,
but, for instance, the Ford owner who
at present contributes SIS per year to
the state treasury, will be required to
pay $3.50. Cars of greater horse power
will pay in. proportion this same in
crease.
The automobile is no longer a lux
ury. 1t is necessity, used by rich and
the poor alike. The automobile indus
frxz iS, he 10 in ATnpyioa
today, and it is growing by leaps and
bounds.
A reputable public accountant esti-
mates that if the number of automo-
biles increase fifteen per cent per year
in Florida for the next eleven years
which is a conservative figure-and
if the present automobile license tax
is raised fifty per cent, at the end of
thirty years the amount of $90,353,1 55
will have been derived by the state.
| The Metropolis confidently expresses
the opinion that the increase for the
next eleven years will be much great
er than fifteen per cent. The automo-
bile and truck are just coming into
their own.
The report that the proposed consti-
tutionaI amendment specifies $4,000
900 as the amount to be floated in
bonds by the legislature is erroneous.
Opponents of the legislation have
dwelt on this figure because it strikes
the citizen as an enormous amount.
What the amendment does state is
this: To empower the legislature to is
sue bonds for oad-building, with a
maximum limit of five per cent of
the assessed valuation of property in
the state. The assessed valuation at
present is in the neighborhood of S40,-
100000 and five per cent of this
amount-the maximum-is 10000, 600.
The point has also been brought out
that it is unwise at this time to issue
bonds. In all likelihood the first bonds
would not be offered for sale until
number of years, the amount of each
to be designated and directed by the
legislature. Because Florida has no
bonded Indebtedness, is no reason why
she should steer clear of the obliga
tions which she should assume for the
best interests of the state. Credit is
the soul of business. With a very few
exceptions, all other states of the
Union have bonded Indebtedness, the
majority of which have been issued
for the specific purpose of building
good roads. Georgia and Alabama
have recently voted bonds to the ex-
tent of s25,oO0000. If Florida is to keep
apace, she must look to the improve
ment of her roads.-Jacksonville Me-
tropolis.