Iron County register., 1890-10-16

T-tal tvaiiablc means. ........ Sli. So, PAL %
In exp lnation of the last item it is proper
to state inat the reven we taxes collected in
1856. 1866 and 1857 amounted to s3,s77,iss-57,
been distributed in 1886 and 1861 for support
of public schools. but was illegally with
held and used for TIL. reduction of the State
debt.
That the debt was not decreased by the
sum of 5l4 ,sSs, 2il % can only be accounted
for by the probability that :415, 333.0j of the
school moneys withheld had been misap-
Piled for some other purpose and was not
IL the financial affairs of the State during
that period of four years had been managed
fairly and properly the entire debt would
have been extinguisEed and n handsome
surplus left IN the treasury instead of
debt of s21.675,too fastened upon the tax
GOVERNOR M'CLURGEs ADMINGsTRATION-
ls6g-1u
At the beginning of this Republican Ad-
miu istration. January 1lS69 the bonded debt
OF the State footed up S2l.615. go. During 1863
and 1870 consolidation" bonds amount in K
to $1,000 were exchangeu tor inatureu cou-
pons, thereby increasing the bonded debt to
that extent. There were redeemed and can
celed during these two years So52,00I OF the
State bonds. making u net reduction otsiSo.-
GOVERNOR BROWNS OBSERVATION-DISCLOSURES
When Governor Brown. Liberal Republic
an, was inaugurated January /, 1871. the
bonded debt of the State amounted to S20,-
Ss9 900
Under act of March 20. 1872, G per cent
bonds to the amount of >2llO1I were issued
July, 1877. for the State University and School
of Mines and Metallurgy to settle the amount
for bank stock sold to j. Ii. Eads. the pro-
ceeds of which had been used for the reduc-
tiOn of the State debt.
Under same act per cent. certificate in
debtedness issued. same day, to state
school fund to settle for bank stock belong
ing to school fund sold to J. H. Eads, the
proceeds of which had been USED for reduc
fion of State debt.
Under act of March IS, 1872, bonds amount
ing to $1u0, ,000 bearing per cent. interest
were issued July l, Is72 for the establish
ment of Lunatic Asylum No. at ST. Joseph.
The amounts refunded to the seminary
and school funds during this admnistrati tion
for moneys arising from the sale of bank
stock to j. Ii. Eads during Governor Fletch-
er'S administration amounting in the aggre
gate to ST. ,1Ul. .t0J.
In 1872 Pacific railroad bonds amounting z
to Si2I 900 were redeemed aad cancelled De-
ducting this amount from the Sl,30l,0j0 (the
increase of the debt by reason of the issue
of certificates of Indebtedness and bonds in
1S7t) the net increase of the interest bear
{ng debt for IsIl-2 SS79,g00.
GOVERNOR wOoDSoN 5 ADMINIsTRATION-
ls13-74.
When the control OF the Stats Government
passed into the hanls of the Democratic
party January l, 1II3, When Governor
woOdsou was inaugurated, the State debt
amounted to S2l,16S 01J.
U.,der act of March IL, 1874, bonds bearing
6 per cent interest, amounting to $l0i. ilO,
wee issued to refund 10 the stock holders in
the State Bank the dividends on I0.6Sj
shares. formerly owned by the State. de
Fietcher'S administratioul.
Under act of March 81, 1874. State funding
and sold and the proceeds used for paying
bonds falling due.
Daring 1874 the fund commissioners can
cetrd ate bonds amounting to sl,4l3. i1o
Deduct the amount of bonds issued. S5O4 Al ).
shows u net decrease during this admins
tration of SeOS. 0j0
GOVERNOR HARDIN's ADMINISTRATIONS -ls75- {
At the beginning of this Democratic Adj
mInislration of January l, 1915, the State
-dcbs amounted to S2l, SOO,0DJ
There were issued and sold during the
wear 1875 under the act of March 20, 1874
State funding bonds amounting tn S600,00o
and under the act of Ma ch 29. 1873, State re-
newal funding bonds amounting IL the sun
of s, ,0s7 600, and in 1916, under the last named
act state renewal funding bonds amount
ing to s425O0L The proce Ids of these bonds
were applied to the payment OF maturing
Under the act of March %. 1875, there were
issued S4l.0 of pententiary indemnity
bonds.
There were redeemed and cancelled il
1s7S-6 State boads amounting TO ;i,a4i,OOO
De4uct tuta! amount of bonds issued durI NJ
that period, 81. is 5000 shows 4 net deere as
OF the intcTcs. hearing dcDt uurIns& - S"'
-ernor Hardin administration OF So9l,o0o.
GOVERNOR PHELPS ADMINIsTRATIoN-ie'f-s f-s'
At tie commencement OF tnis Democrati'
admin iStTation on January i, lSas, tnc Stat'
Under act of April %, 1877, $4,000 of tenn
porary loan bonds, due IN two years, wer,
issued to meet deficiency in the revenue
In 1s77, under act of March 29. 1873. ther'
were issued Ss3s o0l of State renewal fund
ing bonds. These bonds were sold and ths
proceeds applied to the payment OF matur
ing State bonds.
Cancelled SI.S4S, 600 of State bonds. Deduc
the total amount of bonds issued durlns
that reriod, shows ret decrease OF tue
Stat. debt during the first two years OF Gov
ernor Phelps administration of $3.50 oF
On January /. 1879, ut the beginning OF Va Va
Ia,t half of Gsvernor Phelps admin stra
tion the state debt amounted to .2l o1sooo
Under set of May ., 1879, $4,000 of tempo
rary loan revenue bonds were issuea TO iu'