San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-09-09
HE FAvORS BOND ISSUE.

VI reports were sent to the outside
world, some even that the entire city
had been swept away. These reports,
while greatly exaggerated, were be-
lieved by thousands of people, and
have no doubt been the cause of keep
ing thousands of people from coming
to San Antonio, and until we can show
the world that we have provided
against Il repetition Of the same sort,
1t will continue to keep people from
coming here to invest their money.
As to the little fellow that owns
property cut on the hill away from
flood water. | want to say that he
should be interested to the extent of
his investment just as much as the
property owner in the flood district.
Whether he bought that property for a
home or not. he bought it as an in
veStmcnt and if he has any business
qualities in him, he will try and keep
a value on that property.
IL the business part of town is de-
stroyed by n flood his property is af-
fected and the value of his property
decreases and if he has bought that
home on time and should lose his posi-
ton on account of flood and should
want to sell his equity after he has
probably paid it half out, if he will
pick up Sunday morning paper, he
viii see quite number of ads read
ing this: "1f' You are about to lose
your home see me-" And you know
what that means. If you have n $4,000
equity in your home, you will prob.
ably be offered from 5000 to $3.50
for it. 1t is just owing to how hard
You are pinched.
III this city is protected against a
flood and the world knows il. pconle
VIII come here and invest their money
and instead of you being at the mercy
OF acfew home bargain hunters. yon
Will have market for your home
when you get ready to sell il and il
will have value to it. As n matter of
fact bond issue is not an expenditure
1t is an investment participated in by
every taxpayer and the amount he
invests IS the amount he pays out in
taxes caused by this bond issue and
these taxes are pro-rated according to
the amount of property each individual
owns. The situation here is not alto
gfether whether we ever have another
flood or not. The fact is that we have
one disastrous flood and it is i'm
possible now to borrow money in the
east on any property in or near the
flood district. When such conditions
prevail. developments stops. the city
stands still and investors STAY away.
If you will walk down Houston
street You will notice that the Guar
anty Bank is remodeling the old Bexar
Motel property. They are doing this
at their own expense. They know tina.
II pays to make place beautiful and
attractive that they are going to invest
their money in. They are spending
TINS money to put value on their in
vestment. Not long since another firm
on Houston street spent over O.OOOl
remodeling another mans property.
Why! Because they wanted to make
At more attractive than their competi.
tors; and nv so doing draw the public |
TO them. II we are tn draw investors
TO our city. We must make our city
more attractive than our competitors
from an investment standpoint and the |
pest way to do that is to provide for
flood prevention.
Breckenridge Park has been made
beautiful with bond issue money. Do
any of You -begrudge the taxes yon
paid for that? / know that there are
thousands of people here in San An
tonic that are afraid of dam. and I
believe they are right. NV under
standing is that there is to be an i'm
mense culvert built that will only
allow as much water to pass under il |
rs the river will accept without going
put of its bank thereby recurring
probably II or "a hours for flood
waters TO Dass through the civ in
stead of three or six hours. These
bonds will mature in 40 years. you
paying part of the taxes. your children
paving part of them aud your grand
children paying part of them. You de.
rive the benefit now. A few days ago
l.aredo voted on bond issue Of $780,
,0O for street improvements. The vote
was 196 for and against. Don't for
get the fact that Laredo is the coming
to Mexico. and that it has
grown faster in the last ten years than !.
my town in the state its size anil
hat San Antonio is its. only compe-
.itor.
Mexico has been recognized by this
country now and it will bring thou
lands of investors to this part of the
'ountry. IL we can show them that
his city is protected against flood
We can get them to locate here. If we
ant. they will keep on going and
mark my word. in few years we viii
lave city on the border that will
'ival Ell Paso and San Antonio will
'e just San Antonio good town to |
pend Sunday in.
None of you would hesitate about /