The state republican. (Jefferson City, Mo.) 1871-1896, 1891-01-15
GOVERNORS MESSAGE.
Mlssouri's Executive Pleased with.
tho Rapid Growth of the State.
The Great Resources Of tho Common wealth
The State Flnances--Thc schools and
Textbook Qucstions--t!cnerai
Recomm en,lations Made.


Recommendations Made.
JEPFERsoN CITY, Mo, Jan. 10.-Gov-
ernor Francis sent his message to the
Legislature yesterday. In the intro
duction he says
"Mlssourl retains her place ns the NTH
State In the American Union. The people OF
the Commonwealth are to DO congratulated
on the large Increase In population and tho
rapid growth In wealth and Importance
which marks the closing OF another decade.
Under any equitable apportionment OF rep
resentnton, Missouri will be given mt least
one additional member in the National Con.
grcss. Ghc assessed taxable wealth Of tho
State has increased S}Oi 1000 or atty four
per cent, In tho last ten years, whilat the real
value OF lts property has grown In II much
more rapid ratio, and its native wealth. NJ
its development has progressed, more than
fulnls Its first glowing promise. In snlubri.
~ of climate, fertility of soil, wealth Of min
eral and abundance and variety of natural
resources, the state is without II superior.
II has happy people and II diffusion of plcn-
ty of which II may well he proud. That one,
II not the principal class of our wealth pro.
ducinR people. has not prospcred ~ they de.
ecrvc, In n source of regret and cause for
deep reflection. Tho widespread discomfort
whiah pcrvndrs the ngrlculturlsts of the
country IN II natural result Of the class leg.
islntion which has been enacted ut wash
ington during the past thirty years. Tn"
limited supply Of money by which the
commerce of the country " moved and
tho values Of the products regulated, ~
to be attributed to the policy Of the
National Government, and the state Irris.
laturcs are powcrcss to provide "A remedy.
The farmers of the country, who have SUI.
fcrcd most in consequence OF these unjust
determinations, seem to have become thor.
ouRhly aroused by IA realization of their bur
dens, and are making concerted and intrli.
gent effort to correct the evils from which
thcy suffer Their cndcavors. So long as
they lie within their limitations of the or.
gnnlc law of the Commonwealth and the Nh.
tun, merit the encouragement und assist.
nncc of all fair.mnded men. To the cx.
tent that the state can mid, without vlolnt.
ing the rights Of others, in bcttCring the con
| dition OF those who contribute go materially
| toward her wealth end Importance, all wise
| measures will meet my APPROVAL
| FISANCIAL
The Governor reviews the action taken by
| him in connection with the holland dCfalca-
| tion, stating that the discovery Of the short.
age wHs made March I, 1880, and the deficit
of s32,7t5.G9 was made good by the bonds.
| men by May 81 following; that Lon V. Ste
| phcns had been appointed for the un"Nprcd
| term and his administration of the depart.
| mcnt had been faithful and efficient, and
that hollands cas-" had been taken into the
| courts under an indictment charging him
| with cmbcZ2lrmcnt
| The restoration OF the Board of Fund Com.
missoncrs, which organization was nbol.
| ishrd by the Thirty NTH General Assembly,
| IL recommended. - was in grave doubt
as to the ndvisahility OF the adoption
of the present law mt the time Of its cnnct
mcnt," Governor Francis says, "nnd should
| have withheld my approval thrrcfrOm had
| mot il,.t oh ul I,lt ,tu la
corporntcd provided for the reduction of
state taxes for interest fund aud sinking
| fund from 20 cents to ~ cents ON the 500.
| There will he offices for the board to per
| form until the state debt IL entirely
| liuuidntpd. und the additional safeguards
thrown around the Treasury Department by
| the restoration Of this board will he rcnssur-
| ing to the people of the state ns wcll as n
relief to the Treasurer aud Auditor. Under
| "A provision of tho Con stitution mt least
s25O,NN Of state Indebtedness must
| be retired annually, and the Board
of Fund Commissioners should he
| authorized to purchase bonds Of the state
| to that amount in the event mOturitiCs ARE
not sufficient to reduce the debt mt the rate
| specified. During the year 1890 but SlS,0OO
of the State bonds mnturcd and in order to
comply with the requirements of the Con-
stitution, the state Treasurer, with the mp.
| provnl of the Governor and the Attorney
| General purchased t32, 600 of state bonds on
| the market There will be no mnturitcs
during the year 1891, and only tlsh 900 win ma
turc during 1872 but N,3jO,OOO ot $50 3l2 per
cent interest funding bonds. issued In 1856
win be subject to call during 1891 and 81,
1I3Oo0, issued In 1887, will he subject to call
during 1892. recommend that the Board Of
Fund Commissioners, II re established, after
retiring whatever portion of these bonds the
balances in sinking fund will justify, be au
thorzcd to refund the remainder at a rate Of
| int nnt
the present state of the money market II
might he difficult to float n three per. cent.
bond, but II may he that ere another Lcgis-
lnturc convrncs Missouri bonds, running 10 70
years and bearing three per cent, interest
can be sold at "A good premium, and II so, nn
annual saving OF sIs,7iO can be effected, after
reducing the state indebtedness by S25O,OOC
each year"
TURTIC pEpT.
| Tho following synopsis of the condition oi
the public debt IN given; Tho public debt
has been reduced Sihl 900 during the past tive
years. The total outstanding bonded debt
OF the State ON the lst of January, 1921, was
but 81 5a3, ,OO, of which ST. l533,OOO bears interest
mt the rate of sN per cent ana the remaining
s7,O0O,OOO at 3l2 per cent. The schoo
and seminary fund, represented by
State certificates of indebtedness on Jnnu
l. 1891, was 1853 OJO, Of which S3Oi2,OO0 bears
six per cent interest and the re
mnindcr, SGil,DNo, bears Ave per cent
OF this indebtedness S,ii30m belongs
to the State school fund and $4,000 &c
the State seminary fund. Tho total an
nual interest of the State amounts to 1851 $50
There was n balance to the credit OF sink inl
fund ON January |, 1891, of S53, ,lGsi9, and 4
nntlclpVtlons OF receipts are realized there
will be sufficient money to the credit ~
sinking fund and interest fund on March 10
1891, TO retire tho S5O,OOO of Bis per cent
bonds subject TO call ON that date, and inter
est fund will still yield sufficient during ls9
to pay the interest on the remainder of thu
debt. recommend, therefore, that you mp
proprinte, at as early a date W. practicable
SGbO,OO0 from interest and sink ing fund to re
tire the aforesaid bonds"
Tho revenue derived under the rate o
taxation for interest and sinking fund hNct
by the last Lcgisaturc-lO cents instead Of o.
ccnts-has been sufficient to pay the ox
pcnses of the state Government and the In
terest ON the public debt, while the constitu
tIonal requirement OF reducing the bonded
debt of the state by at least S250OOO per an
mum has been complied with, and one. thlrt
of state revenue has been given to the pub
lie schools, instead Of one fourth, which Il
the minimum fixed by the Constitution.
ASSESSMENT FOR REVENUE.
"The assessed valuation of the taxable
property of the State, which was Ss9,b92,
2lb.ss In 1883, was increased by the Stat
Board of Equalization to 1865 O9l ,sO3.ii In 1890
Tho Constitution provides that when tn
assessed valuation OF the taxable propert!