Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1898-09-22
IRONTON MO. THURSDAY. SEPTEMBER % 1893

present belongs. The debt was created
between the years 1851 aud 1857. In
1851 there was not foot of railroad
in the State of Missouri. and subse-
quently the State lent its credit to the
extent of S23, ,701, 900 to aid in the con-
struction of seven lines of railroad.
To secure itself, the State held a first
mortgage on all the railroad property,
estimated to be worth SAT 900, 900, and
On nearly 1000. 900, acres of land. In
one way or another the Republicans
disposed of these liens held by the
State so as to realize but a little over
Sc, 900. 900, and thus when all the costs
are counted, it cost the taxpayers of
the State more than $25, 900 on
this score alone for the time the Re-
publican party was in power.
More than this, taxation was high,
the States securities were worth but
about 60 cents on the dollar and the
school fund had been pIundered in the
meantime by the same party. The
story of mismanagement is a very long
one, but few samples will suffice to
show beyond argument just how reck-
less the Republicans were in loading
debts on the public.
Mr.. Russell says that the railroads
were sold for all they were worth. and
that the State could not have realized
any more than it did. The only rail-
road that the Republicans did not sell
was the Hannibal and St. Joseph The
State had lent this road So, 900, 900,
and every cent Of this was collected,
as well as the interest, after the Dem
ocrats came in power.
How does this contrast with the Pa
clfic Railroad debt? G. A. Finkeln-
burg, the Republican nominee for the
long term Judgeship of the Supreme
Court, can give the party Information
on this subject. He was a member of
the Legislature in 1868, and also
member of special committee of that
body to examine into some of the trans
actions bearing on that debt. This
road owed the State so, 100000, and
this entire debt was released by the
company paying into the treasury $5,-
600, 900 in bonds purchased at % per
cent. and 80 per ceut. discount.
By this transaction the State lost $5,-
100000. The property of the road, on
which the State held a mortgage, was
said to be worth S13, 100000 and the
committee, of which Judge Finkeln-
burg was member, reported that it
was worth over $12,70O.O00.
Mr.. Keller is evidently not we'll post
ed with regard. to the cost of Legisla-
lures; otherwise he would not have
opened this matter for investigation.
In the eight years that the Republi-
cans had control of the Legislatures,
the total expense was 81, ,514,024 This
includes four General Assemblies. For
the next 20 years 10 Democratic Gen
eral Assemblies cost 1881, ,101, or but
a little over s417, 900 more than four
Republican Assemblies.
During the same period the Repub-
licans spent $134, ,02O for printing the
laws and journals of the Legislature,
and for the next 20 years the Demo
Gratis spent but $102,014.
1t is probable that Mr.. Keller will
not pursue this line of discourse fur
ther, and Mr.. Russell should hold a
consultation with Judge Finkelnburg
and learn something about the danger
Gus ground he has ventured upon. If
Mr.. Russell is right now, Judge Fink
elnburg was wrong 80 years ago
ST. Louis Republic.