Weekly graphic. [volume] (Kirksville, Adair Co., Missouri) 1880-1949, 1884-10-24

it, and pocketed the money and ran
away with it.
When the Republican party came
into power January I. 1865, there was
practically no school fund whatever.
There was $66I $1,000 invested in
Democratic bank which was paying 8
per cent dividends, and the stock Of
which was worth about IS cents on the
dollar. There were thirty-flve counties
of the State without organization. DESC
lated by war against the national au-
thority in which Democrats were alone
engaged. There was no revenue from
which to open the school-houses. BY
the effort of Republicans alone, in
which we had the assistance Of not one
Democrat in Congress, We obtained
the sum of over S6,ooo,ooo from the
United States to indemnify US for ex-
penditures in the war.
We wanted to restore cur credit as
State; we wanted every dollar OF that
sum to pay the overdue interest on our
bonds, but we want school fund a
good deal worse. drafted an act set
ting apart 81, 100000 for scnool fund.
DAVID Bonham republican Senator
and grand old man, introduced ii and
in thirty minutes the republican Sem
ate passed it. The House passed it at
once. approved it on the 18th of
March, 1867. and thereby made school
fund for the children of the State. We
invested it in United STATES registered
$40 gold bonds and drew the interest
in COLO and sold it for a premium and
distributed the greenbacks TO the
schools. These bonds remained in the
Treasury till the Democracy came into
power. They sold the United States
bonds and invested the proceeds in
State bonds and are now parading up
and down the state claiming great
credit for improving the school fund
to the extent of the premium they re-
ceived on the United States bonds.
We did not stop there. On the 18Th
of March, 1867. we passed an act giving
the proceeds of all lands granted to
the State and net proceeds of the sale
OF the state tobacco warhouse and the
road and canal fund and % per cent
of the State revenue to the school and
university fund. We sold the tobac-
co warehouse for 12S.O00 and put it in
to the school fund. We sold the bank
stock for us, 235 26-over 235, 1000 more
than its confessed value-and took the
pay IN Missouri per cent bonds and
put them in the Treasury, and there
they should have remained and the in
terest on them should have been paid
to school fund and distributed to the
schools. But the Democracy conclud-
ed to cancel the bonds and give certi.
fcate of Indebtedness for the amount
and now their orators shout the praise
of their party over their wonderful
achievement of giving a certificate of in.
debtness IN place of the bonds, and
claim thereby to have saved the FUND
some 100000.
| We found no school fund, and in
years we had made a permanent schoo
! fund amounting to 2, 405, S06.26 and ex'
cept the interest on the State bonds in
Guided in the certificate Of indebted
ness, and the accretlons by reason o.
the laws made by Republicans, thu
Democratic party IN fourteen years ha;
not increased it one dollar.
REDUCING THE STATE DEBT.
They delight, it seems, In comparl
sons of the republican administration
with theirs. Let US see hew they fart
upon a truthful statement.
We found the state in debt $4,000,
, 900, every cent of which except abou
i$s,ooo,ooo for union military bond
and defense variants was made by thu
democratic party as party by its leg
, islation and management. In fou
years the republican party paid $a3,
. 145,14o.So of the debt including con
j solidahon bonds issued for over du,
e interest, so that the total bonded deb
e of the state was only $iS,655 900, ane
: l challenge the democratic party t.
show If, in these fourteen years the
i have reduced the debt one dollar, ev
cept in meeting maturing Indebtedness
e The bonds OF the state were worth
about 40 cents on the dollar when th'
}. republicans came into power. Tit
4 credit of the state was gone, war wa
: going on, war prices prevailed, revenue
Y was uncollectable in many counties
Remember that the sum of 23,7oI ,ooe
!. of our debt had been made by thu
/ the democratic party for building rail
E roads, and all they had to show for i
was one finished road-the Hanniba
: and St. Joe road to which they hac
. loaned 100000. Twenty millior
dollars had been spent in building
several pieces of road, not one of which
, was finished to an objective point, o.
: a possibly paying point. These were
r the assets they had to turn over /; tht
S rails worn out, the ties rotten, rolling
stock dilapidated. and almost all TIT
: station houses and bridges burned by
. Mr.. Marmaduke's democrats witt
whom he raided the state In 1864
+ We wanted finished roads and we die
: not need to build them with the money
of the people of the state. Capita
, was willing to build roads in a ,epubli
: can state and we sold them for wha
we could get reduced the state debt
, stopped accumulating interest, secured
! the repid completion of the roads
, thereby bringing to the state capita
: immigration and unprecedented devel
, opement and prosperity. 1t would
: have been democratic policy to hav,
kept the roads until they became i'm
, passable and were abandoned and tn,
whole state reverted to the democratic