Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1922-03-03
7.l..77T :
GOVERNOR ASKS
FOR BOND ISSUE
sAys CONDITIONS NOW FAVOR.
AeLE FOR ENLARGED ROAD
PROGRAM.
MEANS WORK FOR UNEMPLOYED
Roads Committee Rsports FsvorabIy
senate Hili No. se4 BY Vote
eTos Z.

by the Senate roads oommdttee by
vote Of 8 to 8. and the expressed ap-
provel OF Governor Trinkle TO q bond
iasue this session. Senate Bill No. 88l.
which provides for the authorisati ton
Of hoad issue Of 10000 900 for road
purposes Is holding tho center OF at
tention In legislative orcles. The
amieable settlement OF the Eight which
Wss threatening over the plan OF re-
organizing the State Highway Depart.
ment brought about by tho Governor
has paved the way for the early con
rderation OF how sufficient money can
be provided for the construction Of
the State Highway system In rea.
sonable time. Tho road bond measure
Will probably como UP In the Senate
this week. Senator Vaughan, Cool.
rick. Holt. Dodson. Oorb,tt, Miller,
Cannon. Hyatt. Mills, Darly and Lay.
man arc the patrons Of tho bill. N ia
generally forsoasted that the bond
measure will receive 4 comfortable
majority In the Senate. Tho bill will
then go to the House where tho big
fight will take place. In view of the
pronounced stand of tho Governor In
favor OF the issuance OF bonds now.
II II believed that tho opposition there
will be overcome
Senate Bin No. 364 provides that
bonds shall not be sold at moro than
four and half per cont. interest or
less than par. Adequate provision Is
mado for n sinking fund, which will
retire the bonds serially. at the e1pira.
ton OF ten, nfteen. twenty. twenty.
I'VE and thirty years.
A feature OF tho bill is that Il gives
bond commission composed OF the
Governor. Treasurer and Attorney.
General discretionary powers in float.
Ing bonds. II IN tho event the re.
organised State Highway department
does not function properly. tho Com.
missdon can safeguard tho interests
of the State by refusing to iRsuo tho
bonds.
Proponents OF the bond issue point
out that there will DO no excuse for
Increased taxation to tako care OF this
issue with the present sources OF rev.
onue allowed to remain. 1t is declared
that the proposed gasoline tax OF one
cent Per gallon will moro than meet
the funding of tho issue. 1t is also
commended that the oitioB and corpora
lions pay more than sixty-Bix per cont.
OF the State taxes and yet the entire
amount L. expended In the country.
Governor Trlnkle made his frat pro.
nouncomcnt In favor OF bond Issue
by the present General Assembly AT
the banquet tondered the members of
the two houses and State officials In
Norfolk on Washlngton's birthday. His
statement was received with the wild.
est enthusiasm on the part OF tho 500
in attendance.
Governor Trdnkle Aesed his recon.
mendaton to the C.leral Assembly
for reasonable bond Issue on the
grounds that the money needed foi
State highway Improvement can be
had at ratio OF interest which the
State can afford to pay. In addition
TO supplying the great need OF the
State for building roads more rapidly
than the current funds will allow, the
adoption of an enlarged road building
program would give work to the un-
employed Greatly reduced prices OF
both labor and materials were given
by the Governor as added reasons for
building roads now. He stated that
Virginia need not fear bond Issue. as
members OF the General Assembly,
who had previously differed about the
method OF reorganizlng the State High.
way Department are now. In full &C.
cord In this particular. The plan as
agreed upon provided for new COM
mission with competent business
man as chairman. He pledged the
people OF the State that politics would
have no part IN the selection of the
personnel OF the commission and that
he would appoint the very best men
to be found.
United States Senator Claude Swan.
son. who followed Governor Trinkle,
sounded key note OF optimism in
backing up the Governor ON his stand.
He said that this ia no time for pes
simism. The Commonwealth. he said,
must not hold back at this time In
planning for the development OF her
resources.