The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-01-12

Nnel i come 10 discuss the SUBJECTS TO which
they respectively relate.
Summarizing the foregoing estimates relat-
ing to receipts into the revenue the revenue
fund and expenditures for lS95-6. the result
may be stated As follows:
Estimated receipts-..... =. ......42Oo.O 900
Ordinary OBSERVATION-DISCLOSURES. go. 4 .5sJ
Remainder 45JO
Final balanc....-..... ............. 1850
ADDITIONAL EvENUE NEEDED.
Thus it will be seen that the estimated rev.
enue, if fully collected. will be barely more
than sufficient To meet the estimated demands
upon it. | do not see how these demands can
be materially reduced. without detrIment TO the
public service. The estimates exceed the last
appropriations by less than 10000. One
third of that will 90 to the public schools. and
the remainder is for the construction of neceS-
SaTy public buildings. and for the special pur-
poses above explained. 1t would not be safe
to have the line OF difference between apprO-
priationS and estimated receipts as small as it
here appears. When appropriations are made
they must be met or the credit Of the state will
suffer. Estimates OF receipts may not be real
lied. Therefore, notwithstanding the import
ance OF the appropriations recommended. 1
would greatly question the wisdom OF making
all Of them without also making some pro-
vision for increasing the revenue: otherwise.
a considerable shortage in collections might
seriously embarraSS the administration. A
number OF the improvements proposed, how
ever important. must be postponed or adGi-
tiOnal sources of state revenue must be pro-
vided. These are questions requiring your
most thoughtful attention. 1t is my purpose
to submit at an early day some additional OBJ
ServatiOns upon this lire for your conSidera-
tion.
INTEREST FUND.
During the biennial period terminating De-
cember 81. 1891. the sum Of 81 -9A5.S6s.Si was paid
into the interest fund. OF that sum 81
o63.s75.1S were appropriated and used to pay in
tereSt on the bonded debt. on the certificates
held by the state in trust for the public school
and seminary funds and the incidental eX-
penSeS of the furd commissioners. The re-
mainder. amounting to SSgl 81. 81. was trans
ferred 10 the sinking fund" for Use in the re-
.demption and retirement Of bonds; In addition
thereto there were S52,l2l1 balance in the
sinking fund on January /. ls93: and 8 1000
were added thereto by a transfer from the
seminary fund. For the redemption OF bonds
the last general assembly appropriated 81 .O01.-
600. In l-93 the board of fund commissioners
purchased $4,000 of unmatured 8 percent.
bonds on the basis of 4 per cent. and called in
for redemption at par s2l4.OO OF 3is-per-cent.
option bonds. making a total of S5O.IOO paid on
the principal of the bond debt. During the year
1894. namely. in the months Of April and July. the
fCnd commissioner paid AlioO0 of maturing 6
per cent. bonds. This makes a total Of 5000
OF bonds actually retired between January /.
1898. and December 81. 1894. This leaves a bal
ance of $4,000 of the 81 .OOO.O 900 appropriated for
the redemption Ct bonds. The fund commits
Sioners did not see proper to use that sun. or
any part thereof. for the reason that on Jaru-
AIRY /. 1858. S409,0O06 per cent. bonds matured.
in addition thereto. the sum OF sliS.000 of 8 per
cent. bonds will mature in April and July OF the
present year. In view OF this large amount OF
bonds maturing in 1895, the fund commissioners
deemed it imprudent to use the balance re-
in the sinking fund for the retirement
of bonds during the last year. but thought it
wiser to leave the same to the credit OF the
for use during the current year. That
balance nov amounts to S2S6.53s.4S. | nm graf
flied to say that the state treasurer. with the
approval of the fund commissioners, was able
to make an arrangement to meet the $1,000 of
bonds maturing on the LIST inst, thus fully pro-
tecIing the public credit. This sum the treas
urer will carry as q cash item until an appro-
is made to meet it.
For the next biennial period. 1895 90. il Is eS-
that the total receipts into the inter-
fund will aggregate $50 O!0O0. OF this it is
estimated that $3.50. s55 will be required to pay
interest accruing during that period. That
will leave 4 balance of 81 zoos to be trans
ferred to the sinking fund and made available
for the payment OF bonds
DEBT.
On January /. 1895. the bonded debt of the state
to sj.0l6.000. 1t consisted OF Sa30,OOO
Of 6 per cent. bonds. and $685. 600 of 81. per
cent. option bonds. Of the 8 per cents. the en-
amount will mature during 1886. except
SIl 900. which will mature July |. 1897. Includ-
in the sinking fund. as above stated,
il is estimated that the total sum available for
bond redemption during the ensuing two years
will aggregate Sl.556.Js3. Subtracting this
amount from the total debt outstanding Jane-
ary I. 1885. there will remain the sum Of Si.a59.-
AZ. which will represent the total bonded debt
remaining unpaid at the close OF this admins
on January /. 1897: and that entire
debt. except SII 900. will consist of bonds bear
ing only 81 per cent.
II the interest tax of ten cents on the hundred
dollars shall be continued during the next ad-
miniStrat;on. even on the present basis OF val
uation. the entire bonded debt will be COM
pletelv extinguiShed by the end of the admin
Of my successor IN office. But, in
view Of an eyer-growing decrease in the annual
interest charge. resulting from the retirement
OF bonds and in view also OF the rapid develop
ment of the state and the consequent constant
OF property valuations. / believe il
safe TO predict that the state will be wholly
free from bonded Indebtedness within five
wears from this date. II this prediction shall
be realized. then within the next five years the
interest tax will cease and the entire state gov
eminent can be administered by 4 property tax
not exceeding fifteen cents on the hundred val
uation. The practical certainty OF realizing
this expectation l am sure should afford occa-
sion for general congratulation-
PUBLIC TUT
pass now to the consideration OF the public
Of the state. and. among other
things. as already indicated. will briefly dis
russ their respective financial necessities and
requirements. These institutions are educa-
tional. eleemosynary and penal.
EDUCATIONAL
Although a little out Of the line of my pres
ent purpose. il may not prove uninteresting,
on the subject OF educational inStitu-
tons. to say a word about the common schools.
The public educational system of the state
consists OF district schools. high schools. nor
schools. institutes and the university. The
or common schools are those whose
courses of instruction range from the elements
Of the common branches to an efRht-years'
course in primary and grammar grades. There
are about 10000 OF these district schools in the
state. The high schools. so called. are
a part of the common school system, but the
OF their work is not well defined. What
are called high schools. however. are main
considerable Importance. In a general way.
the curriculum embraces more advanced
and English than is taught in
the common schools. together with elementary
Latin. civil government. physiology. ct
system was constructed
view to calculating the university ur live
those of the high schools, although a.
ranization and practical operation of re ullS
is not vet as complete as could
sired. For the support Of the conn dilhoH
high schools. permanent funds have bdy fo..
vided, aggregatIng sl0.s6i.Jp. OF this
5S are represented in certificates Of intleSt u
ness issued by the state, and the rems
represented In county, township and seen.
funds. loaned out by the county courts on
both real and personal security. The interest
arising from these several funds. aggre-
eating nearly sil .O0e, 900. is annually distribut-
e. for the support OF the public schools In
thereto. one-third Of the state reye-
nue. is devoted to the same purpose, and local
taxes are also levied by the district directors.
During the year 1894 the sum Of E.il7.0i! was