Should California Municipalities Own Their Own Water Works And If So How Shall
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Interest rates for a given time and place, other things being equal, are determined by the security offered. Municipal bonds pledging the property of every citizen in payment will sell at a lower interest rate than bonds pledging only the works which their proceeds are designed to create, although this difference would not exceed one-half to three- fourths of one per cent, if the rate-fixing power were certain to be exercised always with rectitude and intelligence. For the saving of one-half to... three-fourths of one per cent in interest rate, the municipal- ity exacts of the taxpayers the loan of their credit. Can anything be regarded as a saving for which the equivalent is paid either in money or credit? Certainly not.
Cost of insurance is an element of expense in determining the cost of producing any commodity where risks are involved, which can not be omitted if results are to be made certain and secure. It is evident that this item need not be to any large degree affected by the question of ownership.
What to read after Should California Municipalities Own Their Own Water Works And If So How Shall?
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To quickly assess the difficulty of the text, read a short excerpt:
Interest rates for a given time and place, other things being equal, are determined by the security offered. Municipal bonds pledging the property of every citizen in payment will sell at a lower interest rate than bonds pledging only the works which their proceeds are designed to create, although this difference would not exceed one-half to three- fourths of one per cent, if the rate-fixing power were certain to be exercised always with rectitude and intelligence. For the saving of one-half to... three-fourths of one per cent in interest rate, the municipal- ity exacts of the taxpayers the loan of their credit. Can anything be regarded as a saving for which the equivalent is paid either in money or credit? Certainly not.
Cost of insurance is an element of expense in determining the cost of producing any commodity where risks are involved, which can not be omitted if results are to be made certain and secure. It is evident that this item need not be to any large degree affected by the question of ownership.
What to read after Should California Municipalities Own Their Own Water Works And If So How Shall?
You can find similar books in the "Read Also" column, or choose other free books by Arthur L Arthur Lincoln Adams to read onlineMoreLess
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