Should California Municipalities Own Their Own Water Works And If So How Shall
The book Should California Municipalities Own Their Own Water Works And If So How Shall was written by author Arthur L Arthur Lincoln Adams Here you can read free online of Should California Municipalities Own Their Own Water Works And If So How Shall book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Should California Municipalities Own Their Own Water Works And If So How Shall a good or bad book?
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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.
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