The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1946-09-19

titftt*s FtoftAo taApdNeiS. dWOke
% the find that they had mort
gagged the future by issuing 500
millions. IS follows: About $50
millions IN road bonds, about so
millions in school bonds, and
about 500 millions in city and
special district bonds. Florida
started 90 stagger under theslarg-
est per person debt in the nation.
Soon thereafter. half of the
land area In Florida was in debt
for taxes and the general bust
ness and economic situation was
muddled. Then the long struggle
fOr recovery set in. Many coun-
ties and cities with a normally
sound basis for continuous prog
ress and development found theiS
future prospects blocked by ex-
eessive bonded debt. Some strug-
aled for ten wears or more to re-
cover from the wild spending
spfee-sune have not yet recov-
ered.
FLORIDA as state was able TO
recover only as result of a pro-
vision 81 the State Constitution of
1885. which prohibits the state
from issuing bonds. Therefore.
the State was able GO Bail the
counties out" Of their $50 mil
lions boom-time road bonds by
lexyina q : cents Gasoline Tax
also the highest in the nation
thereby relieving the property
taxpayers 81 the burden which
made il possible for the taxpay-
ers to gradually bail out" the
cities, schools and special dis
tricts. Also. the Federal Debt at
that time was comparatively low.
n billions was being constantly
reduced and federal income taxes
we're only q fraction of the pres
ent rate.
But Now--the federal debt Is
about go Billion, about equal to
the total assessed value of all real
and personal property in the ma
ton.
About rs per cent of Florida's
~B0ofn-tirne" debt is still unpaid.
Taxes are excessively high
now enc tire dollars are rolling
into the Federal, State and Local
Treasures Al the highest rate in
History and are rolling out
just as rapidly in the widest
government spending spree in
peace-tine History.
Fi0ridians are paying federal
taxes totaIling about 400 million
dollars per year and the State
and local tax bin is around 200
million more.
But still the spenders are not
satisfied. state officials. coun-
ties. schools and cities are talk
ing glibly about Improvements
that are Necessary improve
ments. Bond sharks, as before,
are promoting more and bigger
bond issues.
And % make bad matters
worse. The so-called Florida State
Improvement Commission, also
aided and Allotted by bond
schemers with an eye on personal
profits. is getting ready to issue
millions Of so-called revenue
ceertiiicates" which is actually
nothing more nor less than an
unlawful scheme to evade the
plain constitutional provision
stopping the State from issuing
bonds and prohibiting the local
units Of government from issuing
bonds except by approval of
voters.
Those favoring the state in
debtedness argue that the State is
not obligated-But-the money
from which these certificates is
90 be- paid Is from public revenue
authorized by the State and fig
ured on the basis of boom-time
collections. When they fail to pay
IL will be argued these revenue
certificates are a moral obliga-
ton Of the State" and the legis-
lature will be "high-pressured"
for new or additional revenue TO
pay them.
1.-THE plain citizens of Florida,
who. in the end. must pay the
bills--if they are paid-allOw our
elected officials 10 continue this
wild spending spree" instead Of
projecting the public interest. as
they so freely promised. when
running for office. then Florida
viii face real State bankruptcy
in q few years-not Just almost
as we did following the Roar
inc Twcnties. l."
In the next "bust" the State
win not be able to bail the coIn-
ties out" and indirectly the
schools and cities. as the Florida
state Improvement Commission
viii have bankrupted the State
along with the counties. Will
Florida Citizens be able to pro-
duce enough to pay their share
Of the federal debt and bail