Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1886-09-30
MISSOURI FINANCES.
statement of the States Fiscal Affairs
The Various Funds, Taxable Wealth,
Etc.-A History of the Railroad Indebt-
edness of the State-The High License

Statement of the States Fiscal Affairs
The Various Funds, Taxable Wealth,
Efc.-A History of the Railroad Indebt-
edness of the State-The High License
System.
In reply to requests for certain informa
ton regarding the fiscal affairs of Missouri,
Major John T. Clarke, Chief Clerk in the
state Auditors office, recently compiled the
following statement which can not fail to
De OF interest to many OF our readers:
On January ], 1885, our total bonded debt
amounted to S1l ,306,000 Since January !
ponds amounting to S717,00) have been re-
deemed. PROVISION has also been made for
the retirement of bonds maturing November
10. 1856. and amounting to 500 900, so that on
January l, 1887. the bonded debt will be re-
Within the year 1886 six per cent State
ponds aggregating 600 will have been
premium so large to virtually reduce
the interest rate to three per cent. per an
mum In 1SS1 six per cent bonds amounting
TO -, coo Will mature. In 1888 bonds aggre-
eating s3,33s coo also mature. The surplus
revenue in these years will enable the fund
commissioners to redeem at least Slf52 .0G0
OF THESE bonds. Thus. in the years I>S;;, 1897
and 1888 bonds amounting to s., 49, eco will be
redeemed, while $3.50. 000 six per cent bonds
will have been funded with a like amount oil
5i- per cents. This large reduction of inter
est will so increase our surplus revenue as to
insure the speedy redemption OF the entire
ueht. If eXtrava9ant legislation is avoided
and the present rate of State tax alton main
tanned, the bonded debt of Missouri will be
Wholly eXtlnGniSheG on or before the eXDir
alton OF ten years from this date.
Missourans have just cause to he proud
of the credit and standing of their state
abroad as evinced in the sale of her 3H per
cent. bonds. On the 18th of last January
S650.000 OF these bonds sold Tor 1862 53S. 81, or
at premium OF $l253S. 80, while another lot
OF $i00,0U0 sold August l. for Sis, 225.G7, a
a premium of si3, z2367
Contrasted with the value of Missouri
bonds but a few years ago, this result is all
the mole gratifying. in 1870 six per cent.
Missouri bonds We're worth only 81 cents
the dollar. and that without reference to
date of maturity. In ISL they sold high
S9is cents. In 1878 the Fund Commission
trs sold bonds at 94l< cents. In 1879 at 9S. IS
cents In lS76 Mt 1.0}9. In 1879 the market
103s4. In 1881 they were quoted OF no. In
1882 they were worth l20.9i. In lSS4-5 a SIX
per cent. Missouri bond, having ten years to
run, was worth l25iI. In August, 1856, $780,
TOO III 3 < per cent. $40 bonds sold for S7l9,-
223.67, as efore stated. On the LIST day OF
January, 1868. the bonded debt amounted to
S2f,2l5.0O9. On January !, 1871, to S20,ssa, 900.
Guiding s. ON bonds issued TO the Iianni-
bal st. Joseph Railroad Company, ana
school fund certificates of indebtedness for
$500. 600
Bonds amounting to '701 nO1 were issued
to aid in the construction of railroads as toll
lows:
Pacific railroad. ............ S7,o07 zoo
Pacific railroad-sOuthwcstb branch $500 06o
North NJ tSSpuri ia lroad. 1850 0C0
st. Louis x Iron Mountain railroad 1901 60
Hannibal & st. Joseph railroad.... 1000, 00i
Cain o x Fulton railroad $1,000
Platte County railroad. 100000