Southern good roads . lt;in as to ihi collateral which the state is no (luestion as to the saving to the the issuing of these bonds affeit the cicdit dthe state: The reply to this woulil be that it Wollblnot affect the stales i-rcdit any iimri than the issuingof any other bonds. In fact it would have the tiiiden-cy to add to the ocdit of the stall, rallier llian injureit for the reasim that there would be ;i certainty of Ie- delliptioll. Full lierm ire. Illere IS a me;ins of paying both interest as well as principal. \,\ the en-act miHil ol a strict r
Southern good roads . lt;in as to ihi collateral which the state is no (luestion as to the saving to the the issuing of these bonds affeit the cicdit dthe state: The reply to this woulil be that it Wollblnot affect the stales i-rcdit any iimri than the issuingof any other bonds. In fact it would have the tiiiden-cy to add to the ocdit of the stall, rallier llian injureit for the reasim that there would be ;i certainty of Ie- delliptioll. Full lierm ire. Illere IS a me;ins of paying both interest as well as principal. \,\ the en-act miHil ol a strict rci|uiiang that I he surjilus Ilindshould at all tunes be ic-iii\-esteil in county bonds orreturned to till coiuilies lllldel- Ibis method, and thaithe interesl oil Ilic couiily Icmds should only be usedfor this purpiise and Ior redemption d slate bonds,tlie ceitaint\ ol tilt ir redemption ami the paymeiil ofthe interesl Would make Ibis idass of bonds moredesirable lliaii other state bonds. It \\ould be possible. ^^^M^?-;,?? /if -r^ ^ -\ Poorly Drained Road Near Allendale, South Carolina SOUTHERN GOOD ROADS August, 1911 to set forth iii the state bond the fact that it carriedthe additional security, and this would tend towards abetter price being realized on this bond than otherbonds and in that way improve the salabilitj of what-ever other of the states securities it was desired toHoat. If there is any criticism of this plan, it is certainlynot against the principle, but against the issuing 0!anj bonds on the part of the state, and, if such a prin-ciple is improper, then it would naturally follow thata countys credit would be injured by the issuing ofbonds, and this would prevent all bond issues for roadconstruction, Avhich even the worst enemies of goodroads would not contend. So, if it is proper for a coun-ty to issue bonds for good roads, where is the impro-priety in allowing the state to assist it by its endorse-ment I The objection miglit be raised that the outstand
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Keywords: ., bookauthorvarnerhe, bookcentury1900, bookdecade1910, bookyear1910
