Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1891-01-15
GOVERNORS MESSAGE.
M'ssouri's Executive Pleased with
the Rapid Growth of the State.
The Great Resources of the Commonwealth
The state Finances-The schools and
Textbook Questions-General
Recomme ndations Made.


State IN the American Union. The people of
the Commonwealth are to be congratulated
on the large Increase in population and the
rapid growth in wealth and Importance
which marks the closing of another decade.
Under any equitable appOrtionment of rep
resentation, Missouri VIII be given at least
one additional member in the National Con-
greSs. The assessed taxable wealth of the
State has increased Ss0i.00) 900. or fifty four
per cent. in the last ten years, whilst the real
value of its property has grown in a much
more rapid ratio, ard its native wealth, as
its development has progressed, more than
fulnls its first glowing promise In salubri-
~ OF climate, fertility of soil, wealth of min
eral and abundance and variety of natural
resources. the state Is without Il superior.
1t has happy people and 4 diffusion OF plen-
~ of which il may well be proud. That one,
if not the principal class OF our wealth pro-
ducing people, has not proSpcTed a. they de-
serve. is Il source of regret and Il cause for
deep reelection. The widespread discomfort
which pCrvades the agriculturists of the
country is a natural result of the class leg
islatiOn which has been enacted ut Wash
ington during the past thirty years. The
limited supply of money by which the
commerce OF the country is moved and
the values OF the products regulated, is
to be attributed TO the policy of the
National Government, and the state Legis-
latures are powerless to provide remedy.
The farmers of the country, who have suf-
tered most in consequence of these unjust
Oughiy aroused by realization OF their bur
denS, and are making concerted and intelli-
gent effort &c correct the evils from which
they suffer. Their endeavors. long as
they lie within their limitations of the
gauic law OF the Commonwealth and the Ma
ton, merit the encouragement and assist
ance of all fair-minded men. To the ex-
tent that the State can aid, without viOlat
ing the rights of others, in bctterng the con
dtion of those who contribute 50 materially
F9 h.aT oil -iSa
measures viii meet my approval"
FINANCIAL.
The Governor reviews the action taken by
him in connection with the holland dcfdlca-
ton, stating that the discovery of the short
age " as made March 4, lHSp, and the deficit
of So 745.69 was made good by the bonds
men by May 81 following: that Lon V. Ste
phens had been appointed for the unexpired
term and his administration of the depart
nent had been faithful and efficient. and
<lat hollands case had been taken into the
courts under an indictment charging him
with embeZzlement.
The restoration OF the Board OF Fund Com
miss.oncrs. which organization was abol-
ished by the Thirty fifth GEN raj Assembly
Is recommended. Il was in grave doubt
As to the ACCESSIBILITY of the adoption
of the present law at the time of its enact
ment." Governor Francis says. and should
have withheld my approval therefrom had
not the revised chapter in which il was in
cOrporated provided for the reduction of
State taxes for interest fund and sinking
fund from 20 cents to 70 cents on the 500.
There Will be offices for the board to per
form until the State debt is entirely
lquidated, and the additional safeguards
thrown around the Treasury Department by
the restoration of this board will be reaSSur-
Ing tn the people of the State. as well as a
relief to the Treasurer and Auditor. Under
u provision of the Constitution at least
S250,g9 of State indebtedness must
be retired annually, and the Board
of Fund Commissioners should be
authorized to purchase bonds of the State
to tiE>.t amount in the event maturities are
not sufficient to reduce the debt at the rate
spl Gifted During the year l-tJ but $2lS.0G1
Of the state bonds matured, and in order to
comply with the requirements of the Con
stitUtion. the state Treasurer. with the APP
proval of the Governor and the Attorney
General. purchased So, gO2 of State bonds on
the market. There Will he mdturitics
during the year 1871. ana only $le5,oJ0 viii ma
turc during 1892: but 81 $4,000 of go 3Ia per
cent. interest funding bonds. issued i'll 1856,
will be subject to call during 1891. and 81
1I3OJD. issued in lSS7, will be subject to call
during 1892 l recommend that the Board of
Fund CommisSi toner's. if re established. after
retiring whatever portion of these bonds the
balances in sinking fund will justify, be au-
thorized to refund the remainder at a rate of
interts st not exceeding three per cent. In
the present state of the money market it
might be difficult TO float Il three per cent.
bond. but il may be that IRE another Legs
lature conycnes Missouri bonds running lO-20
years. and bearing three per cent interest,
Can be sold at j good premium, and if so,
annual saving OF SIS, sac can be effected. after
reducing the State Indebtedness by S25OO0O
each year
PUBLIC DEBT
The following synopsis of the condition of
the public debt, is given: The public debt
has been reduced SO. 600 during the past two
years. The total outstanding bonded debt
of the state on the LIST of January. 1891. was
but s. 5S3 OcO of which 81 55 900 bears interest
at the rate of six per cent. and the remaining
s5,0OO,oo0 1T 3ia per cent. The school
and seminary fund represented by
State certificates OF Indebtedness. Janu-
1, 1881 was $3.6SS,0D0. of which Si-042.0OO bears
six per cent. interest and the re
maiuder. S54I,O)0. bear. fve per cent.
OF this indebtedness S3Ii3OJD belongs
to the state school fund and $4,000 to
the state seminary fund The total an
nuaI interest of the state amounts 70 SOL so.
There was balance to the credit OF sinking
fund on January l, 1891 OF <45S,lsS.i9. and If
anticipations of receipts are realized there
will be sufficient money 20 the credit OF
sinking fund and interest fund on March 10
1891 - retire the $4,000 OF zIz- percent
bonds subject to call on that date. and inter
est fund Will still yield sufficient during ISL
to pay She interest on the remainder OF the
debt recommend therefore that you ap-
propriate, at early date practicable,
S650.O0o from interest ard sinking fund to re-
tire the aforesaid bonds
The revenue derived under the rate of
taxation for interest and sinking fund fixed
by the last Legislature-I0 cents instead OF 30
cents-has been sufficient to pay the eN-
pen>eS of the State Government and the in
terest on the public debt, while the con>titu-
tional requirement of reducing the bonded
debt of the StIte by at least $4,000 per an
mum has been complied with, and one Glird
OF State revenue has been given to the pub
lie schools, instead Of one-fourth, which IS
the minimum fixed BY the Constitution
ASSESSMENT OR REVENUE.
THE assessed valuation of the taxable
property of the State, which was S1S9,t%2--
PASS in 1873. was increased by the state
The Constitution provides that when the
nsscssed valuation of the taxable property
pT the State shall amount To sSn0, 100000. the
rate of taxation for State revenue shall not
exceed Is cents on the SlOo- II the valuation
of taxable property should increase in the
same ratio in the next two years as in
the last two, the rate OF taxation prescribed
by the Constitution will not furnish
,u f1icfrnt revenue {, dciray the expenses
of th. state Government, and provide
for the maintenance OF ltS educational anu
.rice,naaynnry institutions The interest and
.inkfns fund tax of 10 cents ON the 500 should
.rntizr from the taxes of lNs0 about SspSup-
.rhs tf,+srnt annual interest uf the public
1ri,. ,tnnunta To- Saat .aSa There will c"nse-
,,t,,e,ttY la left a balance of about SSiiOoo tn
-. "a t,,s credit of the sinking fund. This
-, az "a atinn of TO cents ON the 500 for tn-
tat,fs, and sink ing fund will therefore be sur
E,.it,, H., enable compliance with tue con
st;i,,itfnaI requirement. for the annual re-
a....i,... ,,f s1sp debt. to meet the bonded IN
,.,t.gt.,.ss ~ tI,p stats ia u natures. andthe