Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-09-29
The Republican Record IN Missouri

form adopted by the Republican State
convention this year asserts that the
State debt on January l. 1865. at which
| date that party secured control of our
State government, ''was a Democratic
| debt, entailed by Democratic legisla-
tion and Democratic mismanagement;
that the Republican party in
eight years reduced it over
$14, 900, 900, \ and since that
time, in period of twenty-five years,
the debt has been reduced little oyer
SIP. 900, ,O00."
If there should be a doubt whether
Chauncey I. Filley was eliminated"
from the management of his party, it
will be removed by reading the above
quoted plank of the Republican plat
form. Mr.. Filley led the Republican
hosts for many years, and set up every
possible and impossible claim for his
party to attract voters to his standard,
but he was never so lost to shame as
to invite attention of the people to the
record made by his party in managing
the financial affairs of Missouri while
it was in power. In all the platforms
written by him within the last quarter
of a century no mention was made OF
the period when a Republican admin
istration looted the treasury and divid-
ed out millions and millions of the
peoples money among those 'thigh in
the faith The gang who relegated
the old man to the rear now proclaim
their unqualified approval of Gov.
Flether's administration, and the tax
payers are given to understand, If that
party should be restored to power,
there will be repetition of the ''debt
paying record"
The great debt of $36,094,908 on
January 1, 1865, consisted very large
ly of bonds which had been loaned to
certain companies in 1851 to 1857 to
aid in building railroads to the ex-
tent of one-half of the actual cost of
construction, the State taking first
mortgage on the entire property as Sc
curity. All of the companies, except
the Hannibal and st. Joseph. defaulted
on the interest about the time the civil
war broke out. The stockholders of
the defaulted companies had $40, ,701,-
900 of their money invested in the
property, and it was deemed unfair to
them to forclose the mortgages while
the war was going on, especially as it
was known that the State was fully
protected against loss. The Republi-
can party secured control of our State
on January 1, 1865, just as the war
was closing, and Gov. Fletcher in his
inaugural address declared the mortg-
aged roads ample security for the
amounts advanced to them respectively.
Then the Republicans proceeded to
less boodling never equaled, except,
perhaps, by the carpet-bag govern
ments of Gov. Bullock in Georgia and
Gov. Moses in South Carolina. At first
the policy was to sell the property
through commissioners appointed by
Gov. Fletcher to the lowest and worst
bidders on condition that the roads be
extended, and turn around and, by
special act of the Legislature, release
the purchasers from paying the sums
bid. This method proved too slow and
unsatisfactory; SO, in March, 1868,
they passed series OF special acts dis
posing of the States lien to leading
Republican statesmen named in the
acts.
The Platte country road was sold In
1865 for 1868, 900, and after $214,880
had been paid on it, in State bonds
worth 60 to 65 cents on the dollar, the
balance due was released by special
act.
The Iron Mountain and Cairo q Full
ton roads were sold in 1866 for $780, |
900 under Mortgage for s6,47S, ,070.
and after 1891. .616 had been paid the
balance was released by special act.
The Southwest Branch Pacific road.
now known as the Frisco line, mort
gagged for $6,523.770, was sold for
81, 500, 900, and after 1925. 900 had
been paid a special act aunulled the
sale and gave away the road, with
/ .040, 900 acres land grant, for nothing.
The States lien for Sc. $50. 900 on
the North Missouri, now known as the