Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1879-01-18
bonds than they might deem advisable.
At the time named IN the advertisement

me in the presence of the fund commls-
sioners, such bidders as chose to be
present and other persons. The legls-
lature having adjourned without making
provision for the redemption OF the
bonds which fell due in 1873. which were
IN excess of the amount required by the
constitution to be redeemed, the fund
commissioners did, by my advice and
consent. direct that 1888, 900 OF bonds
should be issued, that number having
been found necessary to pay maturing
bonds OF the state. 1t was found that
one party proposed to pay S4.O66 pre-
MUM per hundred for 800, 900 OF bonds,
and his bid was accepted. The bids for
the other bonds, being at the rate OF
about % per cent. premium only, were'
by the commissioners, on my advice, re-
iected. 1t was deemed not advisable at
that time to readvertise, but to await
proposals tor private sale. Such pro-
posals were made shortly thereafter. and
accepted by the commissioners. with my
approval; $738, 900 bonds. were sold at
a premium of So, ,235 per 800. that be-
ing the highest and best offer. The
total premium received upon.the sale OF
all those bonds was S28, ,051, which was
carried to the sinking fund, and was at
the rate of more than Ia per cent.
premium. I was convinced it was the
best price which could then be obtained.
ADDITIONAL REVENUE NEEDED.
At the last session OF the legislature.
when the temporary loan of $3.50, 900
was recommended by me. advised
steps should then be taken to increase
the revenues so that the loan should be
paid at its maturity from such increase.
For this purpose l recommended a poll
tax of one dollar be imposed on every
male person over the age OF twenty
one, and if this had been done. the
loan then authorized would have been
paid, principal and interest, by the rev.
enue from that source. 1t poll-tax OF
one dollar shall be imposed, and the
same authority to collect it which the
collector now has for the collection OF
the tax on personal property, ! estl.
mate $500. 900 would be collected, and
the poll-tax. if authorized, can be added
to the assessment list, and placed on the
tax-book for this year. More revenue
must be raised and expenses must be
reduced But little revenue is derived
from dram shop licenses, and l am sat-
isfied the quantity of spirits used as q
beverage has not been diminished much,
if any, within the last few years. l
recommend the minimum tax to be lev
led upon each dram shop, for state pur-
poses, be not less than $50 for every
period OF six months Qhe minimum tax
is now S25) and that no county, city or
town shall impose greater tax than
the state imposes for aram-shop
license. There are dram. shop keepers
who pay only from $50 to 800 per year
for state purposes, and who pay severa
hundred dollars to the city or town
treasures for dram shop license. Yor
are as we'll able to estimate as l am,
} whether the property OF the state vii
be valued as hlgh tor the collection o
, taxes this year as for the preceding
years. The state is slowly increasing
, in population, but the value of propert.
has been greatly depressed for the pas
, few years. There are good reasons t.
believe this period OF depression of val
t ues has ceased, and that we now shall
: have prosperous times. Within thi
3 state, in the last year. nearly 200 mile
: of railroad have been put In operation
e and means are now being raise
g to speedily build other roads in ou
j. state. Such Improvements increase tn
!, value of property, add wealth to th
q country and invite and induce immigrs
n Lion. 1t is not pleasant task to invit
It you to increase the taxes to be borne b
l the people of the state. But when "
q consider that the amount OF taxes PAL
% to the state is only 40 cents on the $1O(
e 1t shows the taxation for state purpose
i. is light The onerous taxes which tt
people OF this state pay are the count
taxes, and taxes for the erection
sf splendid edif1ces for school houses an
IN interest on county or school indebte
1T ness, recklesslv created several yea
Of ago. before the great shrinkage of va
lie ues. The old maxim for all COVER
10 ments. national, state or municipal,
le sto pay as you CO." and this has be-
I'd signally disregarded.
SO The expenditures for the first 8
re months of this year will be very larg
.. year. The pay of the general assemb
I'd expenses. $4,000; paper for printil
ir reports and documents ordered by t
ell general assembly, printing journals q
OF printing and binding tho revised CO
er and session acts, $50, 900. "a total of$21
lis OOO) the temporary loan, $3.50, 900. a
er the 25 per cent. of the revenue fund
u- be paid to the public school fund.-"
al state school moneys, in the month
ay March, and the interest on the sts
ed bonds and certificates OF indebtednt
he held by the state as trustee for this fur
an will all amount to about $537 900, whi
ID will be drawn from the treasury, prin
lst pally in the month OF April. The amor
IN paid out OF the public school fund" !"
INT state school moneys. for the correspt
ere ding period of time last year, S53
of BOG AZ. These sums will aggregate
he OO1, ,3O6, which the state may be cal
he on to pay on or before the first OF Jl
ra- next. The receipts of the revenue
lm ing the first six months Of this year,
nal gether with the balance OF the rever
ad. fund, If all of it shall be available, '
eil be insufficient to meet these deman
no The temporary loan of S250, 900 must
to renewed or extended for a longer per
an of time. The important duty devol'
on. on you to diminish the expenses OF
the state, to increase its revenues, and
Ids provide for the renewal of the temper
ich loan. In such measures as you may
ne wise to accomplish these objects. or
'ro- any other measure tor the welfare
the the people of the state. you will h
The my concurrence and cordial co-operat
de- PUBLIC SCHOOL FUND.
bs The public school fund is invested
,nd the bonds and certificates of indebted
.rs w of this state, all bearing six per C
On. interest, the income OF which, with
, h. per cent. of the general revenue of
~ % state. is applied to the support OF pu
IN schools. This fund is invested as folio
Bonds of this state. 80, COS, on
llm Certificate of indebtedness ...--... 800, o
to Cash in treasury.
um To,,, 81 gOe 1.
the The bonds of the state belonging
in this fund are in the custody of the tr
to urer There is nothing to show u
'ads their face that the bonds belong to
at state. All OF them are coupon bo
the title to which passes by delivery
these bonds should be improperly
, 600 in circulation, and come into the hi
), 600 Of an innocent holder. suggest for ,
: '0oO 0oO consideration whether the state W.
) 900 not be morally bound for their paym
|; : 0oo 0oo Let us obviate all such questions "
-.ooo it can be SO easily done. Direct tha
900 OF the coupons shall be destroyed.
bonds cancelled by defacins them,
{ 600 that fact be made of record in the Of
i i, 600 Gao of the state auditor and state treas
4 mn nv :, 5aScription ot tho hnotS and