Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1921-03-06
~ ". a. duncan.

w W. ". Duncan.
% lp strange that muft p"upl, jump
90 20 conclusion without thinking They
hear SOM, one siy that u,h and such Il
thing iH so and Accept ID az truth with.
COY rs"r stopping Go verify Il. This BE-
especially the ease Wh'u thDy want q,
h'ltt' %. Fur instance. ~, have hvlfd
g., plr aay recently That Amarillo could
nor afford Go NDt, more bonds. rur ih,
ulasDu that II she lid pa. rents would 81,
HY tirh that tie growth 81 the city
would b' arrested. that people would
Tot only not NOV, herr. bat that many
ilread, here would move away. Now
That sounds like guui argument. but
when W. examine a.. We find that thcr,
= little Co II. II Amarillo were 10 vote
$3.50 u00 Ter bonds Cor % new high school
Iuilding. the interest ami sinking fund
1n thvs. bonds each year would be- SO.
300. u they bear per cent. interest ana
run 40 years. This s2G.2sO would mean
an Increase IN taxes of about 10 cents
n the hundred dollars worth ~ proper
lu the soh"ol district. the property
.aluluors in the district being about
.Wonty.s Yen millions. The average rent
hOus' in Amarillo is rendered az not
mere than $1,000. which means that the
wnrr would have Co pay five dollars n
tylr additional taxes because e this
school building II be- raised the rents
20 cover this additional tax. h. would
ave a. charge th, renter $500 more
Der year or nearly - cents more Ter
month. Now when wp add this 4. cents
,o the from tfty to sixty d1llnrs per
month for which this s. 600 house ls
renting. We can see that the increase
would ho insignificant There is not a
renter IN the country who would be-
unwilling Co pay 5000 per month rnth.
r. than $4,000 II by 81 doing h. could
give his children advantage of the
school facilities that would De- afforded
y a S3io.OoO high school building.
Then u $3.50 900 worth II bonds would
raise the rent on $1,000 house. only ~
cents month. all the bonds ever voted
y the city for school or other purposes
would not Increase the rent on such
mouse more than SIX times that amour,
r. mere than i2.52 per month. The rent
N such n house as we have In mind
ms doubled during the past five years
r Increased from about $1,000 per
aonth Co more than 10000 per month.
ma Il H. easy 20 see that the bonds vot
d by the city during that time have
1ad very little o. do with such an IN.
ironsc The $4,000 worth of bonds
Tor a new high school building would be
he lost possible means II overcoming
he cvii effects 81 the high rents that
IRE due 90 other caus,s People there
nys want their children o. have the
scry best school advantages. and such
advantages are the greatest induce
ncnt ". can offer them O. move here.
IIieh rents In Amarillo are due o. trr
act tina; the demand Tor rent houses II
greater than the supply. and this Is due
iu %, fact that those who have capital
20 Invest haven't sufficient confidence
,u thr future ~ the city. II those who
have capital to invest believed that Am.
lrilln would continue 90 grow and that
.h,y would continue 10 get fair returns
on the capital invested IN rent houses
hey would build mere houses and rents
would become lower. Amarillo has al.
ways suffered. ,due 10 her position ont
lcr, uu tho Plains We SUPPOSE. because
{ tho lack II confidence SHE has not
become a city that she Is because men
4 means have trusted her future and
freely invested their capital here. but
iho hls grown In spit, II this. and viii
continue 90 grow In spite IL u until men
~ capital come 10 the conclusion thai
she j. going 90 make q city. and make
up their minds To- Invest their capital
mere.
When the writer came 10 AmarillJ
seven years ago most ~ the old.timers