Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1923-10-19
NO snsrocK, yIRGINIA
FRIDAY, OCTOBER 10. 1928.
North Cardinals Progress
Not due to Bonds

North Cardinals Progress
Not due to Bonds
Richmond. Va, October 15-1n
view of the fact that the Vir-
GINA people are being urged to
follow the example of North
Carolina in the issuance OF bonds
on a large scale for road con-
struction, the following letter.
Written by Mr.. Henry G. Barbee,
former president of the Cha mber
of Commerce of Norfolk, to the
Norfolk Ledger-Dispatch. will be
of interest. Mr.. Barbee, was
born and reared in North Carolina
and is familiar With the history
of the State. The announcement
of his position is further signi-
ficaut because OF the claim that
has been made by the bond
advocates that the City of Nor
folk is practically united in favor
of the bond issue. His former
position as president of the
Chamber of Commerce of that
city gives to his utterance unus
ual prestige and influence. M.
Barbee's letter follows:
Norfolk. Va,
October 4, 1928.
Editor Ledger-Dispatch,
SIR
have read your editorial
advocating a bond issue in We'd
nesday's paper on Carolina
Exam pie" in which appears the
following statement:
From one of the most back
ward States in the Union. the
butt of jokes, North Carolina has
become a great industrial center.
She has developed her natural
resources, mas capitalized her
water power, is planning a def
mite scheme of aiding her sea-
ports, and has gone far ahead of
Virginia in wealth and progress.
And you intimate that these
results are due in part to the
fact that North Carolina has
issued sixty-fve million dollars
in bonds to improve her roads.
Having been born and reared
in North Carolina and modestly
proud of the fact, l am somewhat
familiar with her development
and the causes which have COLI
tributed thereto, and bv no
stretch of the imagination can
you attribute the industrial de-
velopment of that State to her
bond issue for roads. AS a matter
of fact, North Cardinals de-
veiopment ante-dates even the
talk of a bond issue by many
wears and happened during a
period when her citizens enjoyed
a lou tax rate and the proper en-
courogemenf of capital as we'll as a
cooperative spirit, cheap labor and an
abundance of rap material.
1t will perhaps be of interest
to you to know that the water
power of North Carolina was
developed By ]. B, Duke of Dur
ham, my home town, long before
there was any thought of bonds
her tobacco business was estab-
lished just after the Civil War
by the Dukes, the Reynolds,
Blackwell and Carr, all North
Carolians; her textile Industry
sprang into being because of her
close proximity to raw material
(cotton) and cheap labor, aud
not because of bond issue for
roads; her furniture business at |
high Point and Lexington was
established because of cheap
labor and the nearness to an
abundant supply of the kind of |
material needed in the manu-
facture of furniture, and not be-
cause of bonds for roads; lumber
and Naval Stores contributed
their part in the development of
the Old North State long before
the advent OF the automobile.
No, Mr.. Editor, you will have
to find some other excuse for
a bond issue in this State other
than the example of North Car
olina. Her roads have not even
yet been built while her develop
ment is assured. She has just
to borrow money for
her highways. Payday has not
vet arrived. This much is GER
tain, however, North Carolina
has borrowed sixtv-fve million
dollars which large amount is
,n1y sufficient to complete about
,ne-third of her highways; and
his sum has got to be paid back :
,lus an interest charge of at I
east one hundred million dollars
,r one and a half times the 4
mount of the original loan. lfIl,