New Mexico state record. (Santa Fe, N.M.) 1914-19??, 1921-08-26
BOND ISSUE FACTS

During the past two or three year
New Mexico taxpayers have becl
paying a 3 mill state road levy. Thi
costs them $500 on every $1,000 ass.
eSsment. In expectation OF the pas
sage OF the bond amendment thii
levy has been reduced to ? mills. L
the bond issue carries the levy viii
remain at , mills and the special levy
for the bond issue will be about 1-lt
of a mill. total road tax on Sl00(
will thus be $40. II the bond is
sue tails to carry the levy will g
back to 3 mills, which is $500 on the
$1,000. Don't let any propagandist
make you think you are reducing
your tax levy by voting against tic
bonds. Investigate Tor yourself. The
bond issue is proposed as a relief
measure and a reduction OF taxes.
You can reduce your taxes by yot-
ing for it,
The carrying of the 5ond issue
means the completion OF nearly 1000
miles Of state highways within four
years, its defeat means a continue
ton Of bad roads for ten or fifteen
years tor which policy the taxpayers
Will pay more actual dollars, as ten
years repair Of unconstrueted roads
costs as much as construction, with
nothing 10 show for it at the end OF
the ten years,
How many trans-Continental rail-
ways would we have and how many
people would be living in the west
ern states today if the country had
financed the railways by taxation and
built ten mile patches here and there
with thirty or forty mile stretches of
no road between; To build our
highways in that manner is just as
Illogical.
Don't let any one tell you that New
Mexico can not sell the bonds. Dur
ing the past months Otis & Com
pany. bond buyers, whose local re-
preventative is Arthur S%elig1nan, OF
Santa Fe. have been trying to pur-
chase $4,000 worth OF New Mexico
short time de~bentures. while those OF
other states have been going beg
ging.' Why Because New Mex
leo has guilt edged credit. Because
New Mexico decreased her bonded
indebtedness $4,000 and interest be-
tween December /, 1920 and August
!. 1921 and only reduced her total
cash balance $1,000 in so doing. Don't
forget that the state" of New Mex
leo is in splendid financial condition
and has not had a deficit OF any
kind for p years. Some Of the coun-
- II ..,s.,n.1 it,. Yaau he nVpF
bonded, but don't confuse that with
the state" Camouflagers may tell
you, have told you. that the public
Indebtedness Of New Mexico is way up
TO eight or ten millions, and have
a lot of camouflaged fig
ures to make you believe it. What
do these figures includc-all county,
and school district Indebtedness,
and half dozen lots OF bonds issued
oy several cities and towns to pur-
chase local water, light and power
plants and build municipal theaters,
ibraries. halls and amusement parks
The state has not participated IN
such frills and its entire invest
nent in Capitol building and grounds
including the governors residence, IS
lot as great as the bonded indebted ;
less Of some OF the towns for muni- A.,
ipal improvements. and some OF the /
,%ounties for large snowy court houses {
nd accessories. {
The construction Of good highways F.,
nav not benefit the railroads. which /
re fighting the highway program i
rom \ TO Z. but they viii bcneiit +
he farmer who has crops to haul TO f
market and the cattlcmen and sheep /,
aiser who has an immense amount OF G.
raveling and hauling to do every Il
Month in the year. I