Hot Springs weekly star. (Hot Springs, S.D.) 1892-1917, 1896-10-02
PHILLIPS GIVES THE FACTS.


In "a speech delivered at the court
house in this city some weeks ago
Freeman Knowles. populist candidate
for congress, and editor of the Dead
wood Independent, stated in substance
that Kirk Phillips, present state treas
urer and candidate for reelection to
! that office on the republican ticket,
! had unnecessarily issued aud sold fund
ing warrants for the purpose of're-
plenishing the state treasury after the
defalcation of Taylor; that the warrants
were sold to certain banks in Deadwood
and elsewhere and that the proceeds
from such sales we're deposited in the
said banks and allowed to remain
there. mother words, Knowles claimed
that the state, through the criminal
Vaccinations of Mr.. Phillips with the
banks, had been paying interest on
money for which it had no use and of
which it was getting no benefit. In
answer to these slanderous charges Mr..
Phillips has sent out the following
circular letter:
PIERRE, Sept. 17.-C. E. Hayward.
Esq Garden City, Clark county, South
Dakota: Dear Sir-Replying to yours
of the 18th. in which you ask for in
formation as to q statement made by
Freeman Knowles in his speech made
in your city, in which he stated that at
the time of the issue of s3OOOO0of state
funding warrants deposited $4,000 in
the banks of Deadwood, and that be.
fore the state had received one solitary
cent of benefit from the above warrants
(s75,OOW l had paid $1,000 interest
money.
There is not Il word of truth in the
statement. The facts of the matter
are as follows: On February 8, 1895,
this office negotiated the sale of s25, 600
OF funding warrants with the American
National bank of Deadwood, S. d., and
the funds were placed to my credit as
state st, treasurer on February ii, 1895.
There were warrants registered and
not paid for want of funds at that time.
s46.S35.7S On receipt of the above
funds registered warrants to the
amount of $4,000 were Immediately
called for payment, at which time inter
est ceased.
On February Ia. 1885, this Office me-
gotiated the sale of $4,000 of state
funding warrants with the First Nation
al bank of Deadwood, s. d. The funds
were placed to our credit February %.
1895. At that time the total amount
of warrants registered and not paid for
want of funds was S63.O6S.O9. On Feb
ruary 2G, all registered warrants were
called for payment.
On March IL. 1895, l negotiated the
sale of s225O0O of revenue warrants
with Messrs: Masons, Lewis Is Co., of
Chicago The funds were placed to our
credit March l6. 1895, since which time
the state has been on a cash basis.
On April !. 1895. 100000 of funding
warrants were paid from the proceeds
OF the last named sale which were
issued and outstandingat the time be-
came state treasurer. The total amount
of funding warrants outstanding at the
time assume the duties OF this office
was s22o,Coo. The total umounto of fund
ing warrants outstanding at the present
time is s250.0tD. which become payable
on December 81, 1886, and on
April 1.lS97. for the payment of which
ample provision has been made This
will leave the state without auy float
ing debt whatever.
All statements herein made can be
verified by the records of this office by
anyone who wishes to do so.
Very Truly Yours.
KIRK G. PHILLIPS,
Treasurer of South Dntn+a