The Chesterfield advertiser. [volume] (Chesterfield C.H., S.C.) 1884-1978, 1921-03-31
ANYWAY. YOU FIGURE
WATER-WCRKS WILL PAY

ior III tne discussion of the proposed
waterworks and sewerage system for
Chesterfield.
{ Here are few:
! 1t is doubtful if anyone in town is
better prepared to quote figures on in
surance than Mr.. George Eddins, of
the Chesterfield Loan & Insurance Co
Mr.. Eddins places the insura5le
property in Chesterfield at nearly
S3,O00,O00.0O. The premium rate is
above 2 per cent. And Mr.. Eddins
ought to know.
But to be perfectly safe the figures
will be placed at $4,000 900. 90 insur-
able property and the rate at p2r
cent.
That makes Chesterfeld's annual
insurance bill total S4O,OOO.0C.
Now the reduction in premiums !;
watcrworks is installed will run from
IL to ID per cent, with a, gooI aver.
age of Is per cent. This Is per cent.
reduction on s40,000.OO will amount
to S6,OO0.00 per year. Gentle rcade..
lrlcasc keep that S6,OOO.OO saved on
insurance premiums in mind for one
minute.
The contemplated improvements
will cost about SIS 100000, for which
bonds bearingG G per cent. per annum
are to be foated. The annual interest
to be paid by the tax payers of the
town of Chesterfield will be $4,000. 90.
This leaves for the entire communi-
ty clear saving of 81 100000. 1t Of
ten spells ruin to an individual to save
or accumulate too much money. But
we cannot see that the saving of ST.
10000 per year on insurance policies
need absolutely destroy this good lit
tie town.
The retiring of the bonds have not
yet been figured for the reason that
municipalities seldom, if ever, retire
such bonds. There is no need to. They
may and most likely will be refloated
every 30 years. But for the sake of
"r2umcnt grant that we wish to make
clean gife of this system to our pos
terity. That is laudible, if we feel
able. To retire 100000 in 80 wears
Will require an additional amount to
be raised by taxation Of $4,000.
That will still leave neat sum on
the credit side of The account. And
then don't forget that many individu-
ais will fell justified in reducing the
amount of insurance, thereby making
an additional actual saving not to be
sneeZed at
Nearly all the estimates that have
caused so much heart failure, conster
nation, pandemorium etc. etc., pre-
dieting ruination in Chesterfield for
generations yet unborn arc based on
the assumption of stagnated Chcs-
terfield. That is, in figuring taxes for
me future, figures are based on a pop
ulation and property value just the
same as today.
To get glimpse of Chesterfield's
future, it is only necessary to take a
look at Chesterfield's past.
Thirty years ago the population of
Chesterfield was less than 200 people.
Today it is a little less than 1000.
There has been an increase of poprla-
ton in thirty years of more than 400
per cent. If the increase continues at
the same ratio, for the next thirty
wears Chesterfield will be a thriving
little city of about 1000 people.
The property values for Chester
held thirty years ago, all property, in
Guiding real estate, is placed by our
Oldest inhabitants at less than $780,
10000. The insurable property today
is conservatorily estimated at $4,000
10000, not including real estate. At
this ratio, 80 years hence the in
surable property for Chesterfield will
far exceed $2O,OOO,OOO.OO.
Doesn't it seem barely possible that
our postcrity will be able to take care
of the little tax levy?
This is crisis in the life of Ches
teriield. She has grown slowly and
ste7dily up to the present, but she has
reached a stage where further prog
ress is barred unless she takes one big
step. She has ceased to be a little
i'laGc and can no longer continue
as one. If she does not take this stem.
not only will her growth cease but a
rctrograde movement must follow.
This movement has begun already in
fact
During the past five years this town
has lost by fire about $500, 100000. As
result of these fires the town is
smaller today than it was six months
ago Capital is timid. 1t must be sure
OF protection before taking risk.
Capital would be fool-hardly to erect
new brick buildings on the site of the
cd ones in view of Chesterfeld's five
year record