Highways and Highway TransportationChatburn, George R.
History
Highways and Highway Transportation
Chatburn, George R.
Roads; Transportation
Such disputes as the two nation-wide industrial strikes of 1922, the
coal miners and the railway craftsmen, are rapidly forcing those not
directly connected with the “operators” or the “strikers” to the
opinion that government ownership is the remedy for industrial ailments
of this character. They point to the Post Office Department as an
argument in favor. While it is a fact there has been no trouble so
far with postoffice employees, it does not follow that the same would
be true with the railway, coal mining, and cotton industries. And if
the Government should begin taking over industrial and commercial
enterprises, where would be the end of such paternalism, and would it
lead to sovietism? It is barely possible that governmental regulation
has already gone too far.
But, nevertheless, from some such sources as have been mentioned or
from a sales tax on gasoline may eventually come a relief to the burden
of taxation which now and increasingly so in the future must otherwise
be borne by the land.
=Bonds.=--It is not always possible to raise by taxes sufficient
money to make public improvements on a pay-as-you-go basis. It would
not be economical to attempt to pave one-tenth the width of a street
each year. One patch would be worn out before the next is put down.
The whole must be done at the same time in order not to be vastly
wasteful. And, in order to enjoy the improvement while money is
being collected for its payment, the municipality must resort to
borrowing. It is also argued that since future generations will enjoy
the improvement they should be required to help pay for the same.
The indebtedness represented by the bonds become a lien against the
assessed property in the state, county, township, or district over
which they have been laid. The taxes to pay off the bonds will be
levied uniformly over all property or specially in proportion to
accruing benefits according to conditions prescribed at the time the
improvements were made.
=Kinds of Bonds.=--Bonds are certificates of indebtedness by means
of which the repayment of borrowed money may be spread over a series
of years. They are classified as Sinking Fund, Annuity and Serial,
depending on their manner of payment.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account