Iron County register., 1890-10-16
NATTER OF HISTORY.
How the Party of Progress" Mon
keyed with the State Debt.
1he School Children of the State De-
frauded of Over Half n Million
Doiiars-Comparison with DEM
ocratic Methods.

1t has heretofore been shown from
the records of the State Auditors Office
how the Republican party during the
brief period in which the government
OF Missouri was intrusted to il compro-
missed the railroad indebtedness SO as
TO leave instead of a handsome surplus
a debt of S2l, 1855 900. In this article
another phase of its mismanagement is
treated The party of progr ress- is
shown by the records to have violated
the school law, misappropriated the
school funds, and to have defrauded
the school children of the State of more
than s600,0 Facts are also presented
to show how. under Democratic admin
istrations. the State Indebtedness has
been reduced from s2I, 16S, 900 to
S12, 25S, 900.
The aggregate State Indebtedness on
January l, 1865, as reported by State
Auditor Thompson, was as follows:
Old State debt . ey2o-n
Interest on railroad debt (bonds) 4<I0OI
Past due interest on railroad debt. 5,92S 320
ar debt OF 1852 reported at I50.0g0
Interest on same. ........... 2I0OI
Defense warrants outstanding -.... 2J2 Lg9
Union military bonds outstanding. l,25D, is9
Interest on same estimated =. :. l23, COZ
Unpaid military claims (paid in
le61-61 )----.---- Observation-Disclosures 360I. .0J1
Total debt sss uy4. .sy8
Under the act of March II. 1867, s., 1000 of
consolidated bonds were issued, bearing 6
per cent interest, dated January l. 1863 to
redeem matureG coupons railroad bonds.
The debt on january l. 1869 (tour years
later, was s2l67o. coo. reduction OF sli.4I9.
Gus
HOW THE REDUCTION WAS MADE
General John Ii. Gray, as agent for the
State, collected from the United States for
war expenses s6.472. 2s9 s5, and of this sum
81, S63,9 ,92i 81 was used for reduction of the
debt. The Republicans sold the stock held
by the State in the Bank of the State of Mis-
souri, to J. Il. Eads for 81, ,l7s, ,635.5I which was
pald In railroad bonds and matured coupons
from the same. and the net proceeds from
the sale OF the railroads, S6,0O6,03S. was also
applied to the reduction of the debt. Inter
est taxes were collected 40 cents on the SI0I
valuation of property for the year ending
September 80. 1865, amounting to the sum OF
SI,529. 52s Al Interest taxes were also col
lected during October, November and De-
cember. 1858 amounting to $3.50 742.O7; the
state school moneys, amounting to $40,
2s5.S1. that should have been distributed TO
the school children in 1886 and 1867 were
withheld and applied to the reduction of the
debt
The State school moneys.withheld and not
distributed to the children in 1861 = -3-i ),
during the war, not included in this
statcment-only such as were withheld after
the close of the war and during Governor
Fietcher'S administration.
To recapituIate: The money at the com
mand of the Republican Officials from Jan
uary l. l56j, to January l, 1863. which could
be properly and improperly used for the
reduction of the State debt, follows
War indemnity money (amount
used. .........-... ......S 4s5s, ,92i 80
Interest taxes collected for the
year ending September 81, 1873. l529,52S "a
Interest taxes collected in Oc-
tOber, November and Decem-
Der, 1865 ...... .......... ......- 35O.7i3 o.
Net amount received by the State
from the sale of S35. GOO OOg of
railroad property on which the
state had a first mortgage for
ssI, 73a, ,OoO, 6OO6,o5s 90
Sale. of bank stock to j. L Eads
h' longing to State school
funds --c:-..-.......-........... I,I7s,6s5 81
Stat" sci ooi moneys withheld in
X j-1---..-.-...-..-. .....-........ 969,379 IL