Elbert County tribune and Elbert County banner., 1921-09-09
70 THE CITIZENS Of lcoLoRAaTn,of3 r. g

iiShWay system should be carr led
forward and RautkoffRzaed a bond boondaa Il issue sue
of'is59eee,dgeo fiee defeenf bobakRi "a
be7sold par iforn this apbtdmPppoge pbdmP inidA
few months flatet 4her T'w4ntyatbIrd
General Assembly authorized the
state Treasurer to sell the entire
issue, $2.O00,00O dating June 1st..
1921 and 100000 dating June 1st
1927
According to the Constitutional
Act authorizing the bond issue and
creating this fund, every county In
the state participates directly in
It's proportion of the funds realized
through sale of the bonds
Following the offering of bonds
by the thirty day advertisement the
State Treasurer is advised that On
account of the bonds bearing five
percent interest, they could not be
sold at par. The Constitutional
Act forbids the State Treasurer from
selling them for less than par and
he can not raise the interest rate.
Constructing highways and main
tanning Others is essential for the
development of the State. and the
State Highway Department, believ-
ing that these bonds could be sold,
entered into agreements with con-
tractors, covering construction and
maintenance work 9n every county in
the State
Anticipating early returns thru
the sale of the bonds thousands of
men have been employed by both the
State Highway Department and Com
missioners of the various counties
to temporarily repair damaged high
ways caused by heavy rains Dur
ing the past three months more than
one hundred bridges crossing streams
in many counties of the State, have
on account of recent floods. been des-
troyed causing detours to be made
of from two to fifteen miles.
Practically every state in the
Union has a highway program and
their citizens have voted bond issues.
The Federal Government cooperates
with the states in constructing Fed
eral Aid Highway Projects, and after
completion of highway, the Gov
ernment reimburses the state equal
to one-half cost of said project. 1
Good highways mean more tourists
which is estimated this year at
greater than one hundred thousand
1t also means more agriculturists,
more crops, greater population, in
creased state valuation, increased
business in all enterprises. employ
ment for more people, and aids in
greater dispatch of business than
otherwise could be accomplished
South Dakota has offered a six
percent Highway Bond issue and
found purchasers in Colorado Other
states authorizing a Highway Bond
issue are finding subscribers in this
State owing to the fact that the
interest rate is slightly higher than
those offered by Colorado; however,
the Colorado Highway bonds are ex-
empt from both Federal and State
taxation. If the Colorado State
Highway Department and County
Commissioners throughout the State
are to carry out their program of
Highway construction, then the citi-
zens of every section of the State
must respond to an appeal to pur-
chase the bonds.
condition confronts the State
through the fact that thousands Of
its citizens are now out of work and
il remains for other thousands to de
eide whether the state shall provide
employment for the unemployed by
the purchase of Highway bonds.
New York brokerage firm informs
me that for s165,5G0 commission it
would buy the bonds. This amount
saved by the citizens purchasing the
bonds would construct many miles of
splendid highway in Colorado and
keen many of the unemployed at
work. N&tF
There are 100000 worth of
bonds to be sold now and if 1000
individuals or agencies such as Good
Roads Associations, Automobile
Clubs, Commercial Clubs. Banks. and
other financial Institutions purchase .
only one $1,000 bond Colorado can
continue the construction of its high
ways. There are over 100000 auto
mobiles and gasoline motor driven
cars of all kinds. in the State, and If {
10000 owners of cars will subscribe s