cams_benton_b028_f011_001_022

21 [centered]

and those in its employ – particu-
-larly in the construction of the Levee.
It paid itself, each one, $200 a month,
and its employees from $30 to $50 per
day. It borrowed all the money it
could at 10 per cent [percent] a month; and
then went to issuing warrants on
the treasury. When these would be
taken no longer, it lumped the debts
and issued bonds for them, at high
rates, then issued new bonds, to
redeem the old ones with, and so
on to the end of their year, when the
debt was $350,000 – with less than a
$100,000 worth of improvements to
show for it all.

21 [centered]

and those in its employ – particu-
-larly in the construction of the Levee.
It paid itself, each one, $200 a month,
and its employees from $30 to $50 per
day. It borrowed all the money it
could at 10 per cent [percent] a month; and
then went to issuing warrants on
the treasury. When these would be
taken no longer, it lumped the debts
and issued bonds for them, at high
rates, then issued new bonds, to
redeem the old ones with, and so
on to the end of their year, when the
debt was $350,000 – with less than a
$100,000 worth of improvements to
show for it all.