4 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 
$158,590,000.1. 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 aseparate 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 | Terms of Total amounts 
of issues. | issues. of issues. 
ee || O-VCAleenne peas $442,175 
100)" |) 10-year-2 2-2 22-22 5, 165, 383 
13 PO=ViAt ans. seer 1, 266, 500 
GSig|p20-yiea ree eee 8, 906, 538 
oly |P20-Viealae. -e eee 5, 518, 150 
45) \ 30-year. 22-2 5<2 7,399, 000 
1D) HW SOGIGS soc.ceese 15, 300, 819 
47 | Above 30-year... 7,170, 971 
47 | Other term....-.- 1,816, 541 
1 Including $3,415,000 issued by Connecticut, Massachusetts, and New Hampshire in 1913. Massachusetts 
authorized, in 1912, $5,000,000 to be issued during the years 1913 to 1917, inclusive, which is part of the total 
given. New York’s second $50,000,000 will probably not be entirely issued for several years, 
