Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1923-11-02


900 of totally taxfree state county and munepai Dond
100000 of totally taxfree government bonds and $4,000
100000 of partially ree government oonds ro1a 81 Pa
tunc If they approve his change they reeect him. and
they elect their WISHES THINK tnat
the propaganda that has been conducted throughout TINS state " e
purpose inducing the House of Delegates violate
their prediction pledges counsel of unwdom and
adopted will destroy the faith of the people representative
OUR PRESENT DEBTS
Any sensible before mbarkng project which will
add heavily his Indebtedness takes stock of the debts that
he Virginia $2 100000 debt contracted chiefly
for roads and canals and there hardly road and canal
built service today On March of this will celebrate
the centennial of the issuance first bond yet unpaid On this
debt Virginia has far paid and S3oooo
interest be paid before the debt discharged the
of the investing their money taee securities and
thus avoiding share the financial responsibilities of the
1t said that so taxfree bond worth par with
of from $4,000 ST with
income from 100000 100000 because of the graduated
The rich with income of 100000 pays $4,000
in income while his property invested tafree securities
he nothing This building arocracy of the taxe
rch who give employment and simply become coupon
clippers Two classes being established and the other
free of taxes
have heard much of ae Mr. President about North Caro-
lima North Carolina has been held Virginia shining
example of state with wise and progressive road policy Virginia
has been pictured aggad refusing follow the beacon light
of held by her sister When the people of Vr
gnia know they will know exactly what has occurred in North
Carolina the already overwhelming opposition bonds
this will be greatly augmented Two years ago North Caro-
lima owed Soooo today she has authorized and
second only York State which can measure its wealth tens
of dollars North Cardinals The bond North Caro-
naand this of the dangers of embarkng
bond programmes such that the City Greens
boro has issued bonds using the taxexempt power the
ncpa tor the construction OF railroad station and
in North Carolina have issued bonds in private
hotel corporations North Carolina has issued
bonds What has she done with this money and how far is she
ahead of Virginia without bonds By the of Mr.
Frank Page chairman of the State Highway Commission of North
carolina there has been completed in that 1873 miles of road
twohrds of which soil road o97 miles partially completed
and under Virginia constructed 1902 miles, and
March had contract 348 miles, total of $50 miles
fhP kpOy
until recently that the Of completed mileage given
by the State Highway Commission does include any
roads turned the State when the State Highway Department
established. Mr. Shirley advises 500 miles built
road turned the State but of this mileage he thinks
only 500 miles is in good condition. including such roads the Valley
Turnpike Virginia therefore, without bonds has approximately
1900 miles of its completed under contractabout
much as North Carolina
What Mr. President will be future of the two states?
North Carolina with 3cent gasoline only provided to pay
off $4,000 yearly the S65oooooo bond 1870 years will
epse bonds are paid for and $500 in interest will be
Carolina must S2ooOooooO of road bonds eventually
paid dollar obtained bonds Mr. Page that North
complete the balance of the This demonstrates of
the evils of building roads by bonds because if adopted
this plan must be continued until least the
sucted God help the North Carolina when 2ooooo
of road bonds issued addition the other bonded ndbt
edness This will then North Carolina bonded debt Of nearly
SIoo,oooooo than New York State
In North Carolina the automobiles have increased 1861 in
past two years. 1t has very properly been said that
automobiles increase proportion good roads In Virginia
with smaller population the gain in two has been 1884
North Carolina has IL machines of population Virginia
Professor Hamilton of the University of North Carolina
the authority for the that the Civil War North
Carolina has repudiated her debt 1866 again
1876 Will she do again when her great burden of taxation
become unbearable?
EXPERIENCE OF OTHER STATES.
The auditor of the of Ohio has recently issued
public warning the people that which he said
Money plentiful 1t is easy sell securities
and bonds Every country the world has buried itself
in bonds year ago great insurance company the
auditor of the sateWe have vaults full of Ohio
bonds. We don't any more The day of reckoning
approaching 1t the general assembly the
financial credit of the Finances and farmers bus
and aborer these issues with open
minds They unite and do everything in their power
to for Ohio system equitable all and that
will not leave crushing burden posterity With
natural decreasing rapidly debt and
alton increasing the tolers of the future will be moth
ing better than bond the present mad
destruction is not ended"
Al Smith, Governor of New York. the greatest business
executives elected public Office and who received the
makabe tribute OF majority of 100000 said that he did
recommend the issuance of road bonds New York because by
New York State roads built with bonds had been
constructed three four during the life of the bonds
In Arkansas where dekmate and distinguished colleague
the Senator from Nooway M Epes property, his
$1,000 hundred of assessed value times the average
in Virginia
Those along the State line of West Virginia know that
y of the bond issue in West Virginia the that
double the similar land in Virginia have
here ticket land where the State line divides several
payers which shows that the twice much
West Virginia Virginia In the mail Yesterday received
letter addressed the Sheriff of Frederick County Mr.
Ira L. Swige of Casbug W. Va in which says regard
the purchase of franz
Il will not need so much land, especially if your
present legislature should the much talked of fifty
million dollar bond issue.
Pardon me- and permit say that | am sorry to
know that the better and conservative class of the
citizens Of Virginia being imposed upon by the adj
vocates OF issue destructive in very
begin to reaize iustw