BULLETIN 136, U. S. DEPARTMENT OF AGRICULTURE. 



The progress of the local highway-bond movement is further indi- 

 cated by the diagram of first issues for the interval 1900-1913. 

 Dates of first issues were reported, however, for only 579 counties. 

 First issues for 1912 and 1913 are practically complete. (PI. I, fig. 1.) 



During the past three years county, district, and township highway 

 and bridge bonds were voted as follows: 1911, $29,200,022; 1912, 

 $32,022,703; 1913, $50,445,756; making a total of $111,668,481. 



There have also been voted State highway bonds which now total 

 $1 58,590,000. x The grand total of all highway bonds voted and 

 reported to the Office of Public Roads to January 1, 1914, is, there- 

 fore, $445,147,073. 



There is given in Appendix A of this publication a list of all the 

 State highway bonds with their dates of issue, terms, and nominal 

 interest rates, together with other pertinent information concerning 

 the issues. 



In Appendix B are given three lists of local highway and bridge 

 bonds. First there is a list of county and district highway and bridge 

 bonds voted to January 1, 1914, with their terms and interest rates 

 where reported. A similar table of township bonds is next presented. 

 In a separate table is a list, by counties, districts, and townships in the 

 several States, of highway and bridge bonds reported voted during 

 each of the years 1912 and 1913. 



The approximate distribution of local highway bonds is shown in the 

 map, Plate II, by counties. State highway bonds are not included. 



In collecting data for this publication the Office of Public Roads 

 corresponded directly with county and township officials and the 

 tables of bonds were submitted to State highway officials and other 

 State officials for corrections and additions. Many county officials 

 failed to state the term of the highway bond issues; it was found, 

 however, that the mean term for approximately $47,000,000 issued 

 prior to 1913 was 24.8 years. For the years 1912 and 1913, the term 

 of issue, the number of issues, and the total amount issued by munici- 

 palities with complete reports are presented in the following table: 



Table 1. — Bond issues during 1912 and 1913 in counties, districts, and townships, with 



complete returns. 



Total number 

 of issues. 



Terms of 

 issues. 



Total amounts 

 of issues. 



17 

 100 

 13 

 68 

 31 

 45 

 129 

 47 

 47 





■S442, 175 

 5, 165, 383 

 1,266,500 

 8, 906, 538 

 5,518,150 

 7,399,000 

 15,300,819 

 7,170,971 

 1,816,541 







20-year 









Above 30-year... 

 Other term 



1 Including $3,415,000 issued by Connecticut, Massachusetts, and New Hampshire in 1913. Massachusetts 

 authorized, in 1912, 35,000,000 to be issued during the years 1913 to 1917, inclusive, which is part of the total 

 given. New York's second 550,000,000 will probably not be entirely issued for several years. 



