The intelligencer. [volume] (Lexington, Mo.) 1887-1891, 1888-10-27

cred from time to time, were to be actually
expended in the building of the roads before
another InStalmcnt of bonds were to be loaned
to said companies.
In this manner bonds of the State amount
ing to 523, 7Ol ,OG0 were delivered to the rail
road companies, the proceeds of the sale of
which, together with Il like amount invested
by the companies themselves, aggregated
Sill, 40, coo as the amount expended by said
companies in tGC construction OF these main
line of railroads through the State. The
United States government also gave these
companies, rs an indurement to have these
great thOrOu@nfarCs built, 1,S2l,i3l acres of
government land located in Missouri. To re
Capitulate, the Democratic party loaned S23,-
T0i 600 Of our q per cent. State bonds to the
various railroad companies for the purpose OF
developing the resources of the State, and AT
the same time secured this loan by taking Il
first mortgage on railroad property that cost
S41, 402, 900: also on l.S2l, 434 acres of land.
II was the agreement with these companies
that they should pay the interest upon these
bonds and the principal when it became due.
THE SELL-OUT.
The war came along. All business prac-
tically ceased. All of the railroad companies,
except the Hannibal and St. Joseph. defaultCd
in the payment OF the interest on these State
bonds. When the war was over large account
ulations of interest had accrued upon said
bonds. The Republican party, in power at
that time, by its mismanagement sold out or
rather gave away all of these roads except
the Hannibal and St. Joseph. The default
ing roads cost over S4l 900, 600 in their con-
struction and were sold for the pitiful sum
of ST, l3l ,49G. thereby losing to the tax payers
of the State $l4, 569, 504 of our 6 per cent.
State bonds, Il part of which you are paying
interest upon to-day.
Thu Hannibal and st. Joseph Railroad Com
pauy never dclaulted in the payment of in
tercst, and in accordance with Il provision of
the law they paid into the treasury of the
State 50, II, S42 ~ in order to ave the State
release its mortgage on the road for So ,0OO,-
00O; this being done the State assumed the
payment of the bonds loaned this company.
This transaction was closed up under a
Democratic administration and not one dol
lar was lost TO the State.
The Republican party, a party which is
largely controlled by these holding the Offices
OF the State permitted its officers to enrich
gone into your State Treasury. | refer es-
and that of State Treasurer. 1t is a fact
that during their reign the fees of the Sccre-
tary of State, outside of the regular salary,
for some years amounted to over $4,000 per
annum, all of which went into the pockets of
the Secretary. When the Democratic party
took charge of the affairs of
State it at once put u stop to this
method by enacting a law requiring all
money for fees of Secretary of State to be
paid into the treasury before the services are
rendered, and the result of which is there
has been received into the treasury of the
State since January l, 1875, the date n Dem
! ocrat took charge of that Office, fees and i'll,
corporation tax amounting TO the following