Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1884-10-25

No. 81.
Fletchcr's administration, toward the
reduction of the debt of the state OF
Missouri than has ever been done since
that time by any administration, or all
OF them combined. Now let us see
whether that is true or not. II do
not prove to you that it is absolutely
false from Dan to Beersheba, and
from ga" to lizard, in the language of
the school boy, then l am ready for you
to pronounce me the biggest liar in
your community. l risk my character
upon ii.
MONEY LOANED TO RAILROADS.
The debt that exists upon the state to-
day was created originally by the dem
Ocratic party. Now understand what
Ihave stated-that it was created by
the democratic party in loaning its
credit to certain branch and trunk line
railroads within the state to aid i'll the
construction OF those roads. For i'll
stance, the Missouri Pacific railway
was loaned bv the state $ll ,OOO,0 900,
the North Missouri, 81 200, 900, the
Iron Mountain, $3, 900 600, making the
aggregate 1921 100000. That is, the
democratic party, then the dominant
party in the state, In order to build up
system of railway Improvements,
provided for the construction of five
grand trunk railroads, t'by loaning
them the credit of the state, to the
amount of $4,000, 900, the state prom
ising and guaranteeing to pay the
bonds with interest, provided the rail-
roads defaulted in SO doing. As securi-
ty, the state took and held a first statu-
tory mortgage Oh the roads. The
roads defaulted in the payment OF the
principal and interest on the bonds,
and were at that time of the value of at
least S25, 100000. Under republican
legislation and management the roads
" ere fraudulently disposed of to rings
and favorites of the Fletcher admins
tration for $4,000, 600, one-fourth of
their value, thus entailing upon the
state the beginning and bulk of the
great debt, which has remained. in
whole or in part, as great weight up
on the state from that time to the pres
ent date. In the language of another,
ga splendid legacy bequethed to the
people of Missouri by republican ad-
ministration." Had it not been for
this corrupt proceeding the state
would not be in debt one dollar to- day
and would not have been required to
pay an amount of interest equal to the
original debt. And still this republi-
can party claims that it is the party OF
great moral ideas, and it alone gave
Missouri its prominence rs state dur
ing its short reign from 1865 to 1872
The debt resting on the state when thai
party came into power had not ont
dollar which was not amply secured by
first mortgage lien, as before stated
on every mile of road constructed
: together with all the appurtenance
. and machinery Of the several corpora
tons, and when the republican part.
, went out of power it left all indebted
,, ness according TO Auditor Thompson o
$36, ,O94,9O8. This included all tn
railroad indebtedness,th the old state deb
!, proper, outstanding defense warrant
.. and union military bonds. In order t
. break the force of this charge the re
y publican leaders say:
Dnring the four years OF Governo
,, Fletcher's administration this debt q
. $34 ,O0O, 900 was reduced by $14 Al, ,OUl
= still leaving debt of 81 ,675, 600. Th
, is the milk in the cocoanut. Not on
: dollar OF this deduction was made frol
:, the revenue of the state. Not one do
:. lar did Governor Fletcher pay ont {
- the revenues of the state. That part
claimed to have reduced the debt /
! ! $14 4,OOO,O but not one dollar W,
:, paid ont of the revenues of the stat
7 Then how was it paid2 Did the revt
. nues bring the money? Did none
- rain like mamma down upon the peopl
q and did they pay it? No sir; it Wi
\ paid IN this way:
m 1. Sale OF bank stock held by the
.. @ Frem sale Of railroads. .ss 8, ,ocs @ ooS
It 3. From indemnify COLLECTED
m from :hc go' ernnient by Colo
ID From taxation Of and bonus
,e paid by the banks......... -. ISL 300
" This makes in the aggregate the 81,
It of 4,4l9,87O, which left us the sta
IL debt on January /, 1869, $21 ,675 900.
Mt During McClurg's administratio
rs from January l, 1869, to January
Ir 1870, the state debt was reduced $7St
L. COO. There is tue first item we ha
n struck where there was really Il redr
e. ton Of the state debt by any of the
at publican governors of the state. Dr
n. ing Governor Browns administrati
ny this debt was reduced 1922 900. ID,
,n ing Governor Woodsom's administl
at ton it was reduced $90S,0OO Tht
ed reductions under democratic gOvernl
, a were made out of the revenues prOI
re of state from taxes collected from "
lat the people. 1t was reduced by mon
ed that you have wrung out of the will
NJ soil of this state. During Govern
'ly Hardin's administration your debt v
ais reduced further by $590,00O. d
OF ing Governor Phelps administ
lse ton OF four years the debt was redu'
lr- S99O,OOO. During the present adm
tor is,ration of four years, the one VIII
he shall expire on the first day of Janua
my 1885, the debt will have been redu
ov- 81, 1000 paid out of the reven
n a proper of the state. Cheers
Itic l again assert that there has
ted been an administration i'm which tn
ate has been as great q reduction, by ab
Or one-half, of the public debts Of y
sis. state, that were entailed upon you
the republican party, as during Il
the four years of the Crittenden admi
be tration. [Cheers. Still, some
,art these orators say Crittenden has n
, or ed the state and cry out, "Poor
,ers Missouri. [Cheers.l
fall Let me call your attention to an
tant er important fact, which shows
@ TO honesty of democratic rule in Misso
red AT the time the state loaned its CT
SSH to the Missouri Pacific for the stat
Dry Missouri, or the state of Missouri
he sued to that road about 81 100000
0 in bonds to construct it. 1t issuct
this the old North Missouri railroad,
mil 900, 900 more; that makes $4,000
ring in round numbers. 1t issued to
1red Iron Mountain railroad S3,6OO,0O0
and makes S2l 600, 900 for those three rC
J or At the time of the issuance of
ID, bonds it was enacted into statute
per the state should hold and retain Il
debt mortgage upon the road as sec1
com for the repayment of the money loa
took The railroads were built and all
,ves- appurtenances and everything CONF
ties. In 1865 these same roads were co
Sc Of cred to be worth SSO,O0o, 900. Al
time the act was passed by a Ia
J do legislature during the winter of
nix it and 1865 don't remember the
any date-auth0rizing these roads
ould sold and they were sold under sta