Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-01-25

Il The highway budget is defined
as the total annual expenditures in
each State for highway purposes.
80. The annual highway budget should
be adjusted to the relative needs for
other public purposes.
80 No road should be improved by
expenditure of public funds in excess
of its earning capacity. The return
to the public in the form of economic
transportation is the sole measure of
the justification for the degree of i'm
provement-
-. Broad surveys made by the
United States Bureau OF Public Roads
have determined conclusively that
from 40 to so per cent of the aver
age costs of highway construction
is expended in permanent improve
ments, such as grading, draining,
structures, engineering and rights of
way. OF the remaining cost, all but
a small percentage of the surface can
be salvaged in reconstruction and
constitutes a definite addition to the
capital facilities of the Community,
" hich is passed on to the succee ding
generations From all these studies
1t thus appears that highway bond
Tissues are justified where the pay
as-you-go" plan does not promptly
provide the highways economically
necessary, ana WneTe duequdle SA-
cheering and economic control is
assured.
Uniformity Prevented.
20 The wide variance in the present
status of highway development in the
several states prevents the adoption
of uniform policies for securing the
funds necessary for the annual bud
get Generally speaking, however,
! - 10. 6a cat W
"ta) States in the initial stage OF
highway development should issue
bonds to defer that portion of the an
nual charge for construction which
would overburden either property or the
road user.
"Cb) States where original construc-
ton programs are well under way
can in the main finance normal new
construction from current funds, util-
izing bond issue funds to defer the
cost of special projects.
"(c) States where original construc
ton is largely completed are con-
cerned chiefly with maintenance and
reconstruction, and should depend on
current funds, save in cases of emer
gency.
80. States highway bond issues should
be serial in form and should mature
over a period not exceeding thirty years
'7. Highway bonds issued by polit-
ical subdivision of state should be
serial in form and should mature
over period not exceeding twenty
years.
Pleads for Uniformity.
IS. Serial maturities should be ar
ranged SO that the annual require
ments of principal and interest VIII
be as nearly uniform as practicable.
80. Sound public financing requires
that where motor vehicle or other
special levies are allocated to defray
the costs OF state highway bond is
sues the full taxing power also of
the State shall be authorized to guar
antee principal and interest in event
of failure Of such special levies to
provide sufficient revenue.
I'VE now have $4,000 miles of sur
faced highways. Every ten years the
total. including country roads, will
be around 100000 miles, which will
constitute a marvellous basic system
excelling that Of any nation in the
world.
I'm contemplating this investment
we may realize It's value to us by re-
calling that julius Caesar, probably
the greatest figure in the history of
Rome, built the success of that en-
pire on a system of highways which
are in use even today.
1--WE do well also to remember the
experience OF England, which has
founded its international system of
communication on the groundwork
which the Roman invasion laid down.
In view of the enormous extent of
this country, totaling 100000 square
miles, there is no other public work
which is more deserving of our at
tention."