The Sedalia weekly bazoo. [volume] (Sedalia, Mo.) 187?-1904, 1885-01-13


progress, without regard to the preju-
dlces OF the past or present. and with a
wise administration of public affairs,
the state will continue to advance
towards that eminent position among
the sisterhoOd of states for which il is so
well adapted. and is so certain TO attain.
sooner or later.
The governing idea of this admins
tratiOn has been TO preserve and protect
| the credit of this state. Subordinating,
TO certain extent. all other administra-
tive views in the accomplishment of that
end. and holding THAT the central pillar
that uphOlds good government. i'm any
country. must be good financial sys-
tenn. honestly and economically admin
istered."
STATE TREASURY.
The finances of the state have never
been more judiciOusly managed than
within the last four years, which is evil
denced by the high credit of the state at
the present time. No matured obliga-
tons OF the state, excepting those of a
class OF bonds known as the Hannibal &
st. Joseph bonds. of which shall speak
hereafter. remain unhOnOred; and. as
said In my previous message, not a war
rant of the state is outstanding. The
bank of commerce, of st. Ions. con-
tinues TO receive the public deposits of |
the state. it paying mouthly the highest |
compensation on the average daily bal |
ances. as required by the statutes. MOL
other bank in the state offers, nor has |
offered. as great bonus for the money. |
The money deposited i'm that bank is so |
absolutely secured by United States and
Missouri State bonds pledged |
as security. i'm exchange |
of the deposits. that if the deposit
DRY should meet with severe reverses.
the State would be subjected to no loss
of money. and only delayed ten DAYS in
the collections of its deposits. The Nat
ional Bank Of Commerce. of New York,
is the trustee IL charge Of the hyp0tiie-
Gated bonds. Both of these banks have
attended TO the business of the state
with prOmptness and great fidelity; at
times being the channels through which
millions of dollars have passed belonging
TO the state. The accompanying tables
show the amount of deposits monthly i'm
the Bank of Commerce of st. Louis.
how secured, and interest paid monthly
to the state on deposits.
JANUARY /, 1883.
Cash i'm vault s11.11l 30
Bank of Commerce S49,352 20
Bonds held $4,000 90
Interest received on deposits 40 81
JANUARY 1, 1885.
Cash in vault SI1.696 So [
Bank of Commerce 1.402. l9S %
Bonds held 100000 90 !
Total amount of interest paid
in 1883 and 1854 Sl7.972 "a
The interestreceivedb by the State upon 1
Is deposits since this administration
,ame into power is So, 633.37. This {
'esult shows the wisdom of the present 8
aw upon this subject. q
| refer with pride, as a Missourian. {
md especially as the Executive. to the
management of the State for
he last four years. fully believing that I
t Will compare favOrably with any pre- {
TiOus administration. and will firmly
InchOr the State i'm the confidence of the {
business world. No step has been taken
" the Treasurer or the Fund Commits c
toners which has not elevated the credit :
# the State, and given it firmer hold {
IpOn the stock markets of the world.
all your attention TO the accompanying I
etter from the cashier of the Bank of q
Commerce of New York. {
This bank has been the fiscal agent of {
Missouri for quarter of a century. {
NATIONAL BANK OF COMMERCE. o
NEW YORK. December s, 1884. { c
the Governor, State Audi ;
tor and Acknowledgement, Fund Com IL
missioners. State of Missouri l;
GENTLEMEN We have received with Ii
pleasure the letter of State Auditor e
Walker expressing the approval of the b
'und Commissioners of the manner i'm d
which this bank has performed its duty. il
n the large transactions with the finan- II
ial department of your State: and. C
While assuring you of our qualification ;
( the thorough business methods which t
ave characterized all the operations of Ii
he Fund Commissioners. we would take Il
he opportunity TO congratulate YOU e
pom the result of your administration fl
s shown in the solid and satisfactory
onditiOn of the State finances.
Yours respectfully, Fl
w. W. SHERMAN. Cashier. i
Wise constitutional and legislative Ii
nactments and rigid honesty upon the
art of the officers of the counties and
tate. have placed the credit of the
|
lost States. United States 4 per cent. u
Onds are now selling in the stock ex- Il
hanges at 20-l00. which price yields Il
le investor 2 75-l00 per cent. interest t.
er annum.
Missouri 6 per cent. eleven year bonds. =
he longest bonds are now outstanding. :.
I'll readily at 30, yielding the investor -
per cent. per annum, showing differ ~
nee i'm the value of the two securities of ~
My One-fOurth of one per cent. per =
mum. These figures show the credit of i
ne government to be on a q per cent. =
asis and Missouri on per cent. basis. - -
he former bonds are non-taxsble. those q q
this State are. which may account for ;;
ne fractional difference. This high :,
landing of the State is not the result - -
any one administration, of any one "
effort, but is the outgrowth of