Potosi journal. (Potosi, Mo.) 1894-1929, 1899-03-29
M:ssouri's Wrecked Treasury.

I MsSSDUtI
| In view of the confidence game
practiccd upon the people of this
state by the Democratic managers
before the election last year it is
highly important, now that the
truth is forcing its way out, to as
certain the exact condition of the
treasury. The Democratic keynote
of the last canpai On was a continu-
ed boast about financial manage
ment. Citizens generally thought
there must lie something in the
claims heard at every Democratic
meeting and which were especially
blatant in every Democratic paper.
But the managers Of that party
knew perfectly well that this brag-
ging rested on absolute f;IsehCod. i.
In less than five months after the
election the fact comes ont that a
deficit of nearly Sl,OOO,oO0s con-
fronts the state. Forgetting what
he said last year about the finances
or perhaps Indifferent now th;lt the
election is over, Gov. Stephens has
just made this unblnshing state
mcnt through 81 Democratic paper:
SIN the preceding administration,
when | was State Treasurer, we
struck the bottom as it were in the
state treasury. l secured for the
state, upon my credit, 100000
and prevented warrants from be-
ing protested or new bonds issued" ;"
Here is a surprising admission
that at the time the people Of Mis-
souri, were gulled with the stcro-
typed vauntings about the ''splcn-
did financial management Of the
statc' the treasurer, in order to
stave off the protest Of state war
rants, was compelled to raise $780,
600 by giving his own note to a
bank. OF course interest had to be
paid, and it is understood that it
came out of the general revenue.
OF course, the Governor will make
his usual plea that this was merely
a technical irregularity. Dcceiving
the people as to the real condition
of the treasury, in his opinion, is
only technical mendacity. In the
Stephens lexicon anything goes if
the word technical is clapped in
front of it.. The states finances
technically were handled with bril-
liant ability ut the very moment
that private credit had to he secret
ly employed to save it from pro-
test.
Once more. to use Gov. Ste
phens' own words in relation to
the period when he was treasurer,
the Democrats in charge have
"struck the bottom as it were in
the state treasury" No election is
pending. The truth is confessed.
With a deficit of 81 900. 600 near at
hand the Governor is not disposed
to repeat his former exploit of
closing the breach with his person
al credit. The amount needed, in
fact, has become inconveniently
large. He urges the Legislature to
come to the rescue by passing laws
for additional revenue. Such laws
ought to be impartial. But the
Stephens idea is to pile the new tax
alton needed on the cities, and most
of all on St. Louis. The new po-
lice law, which was spawned by
him to increase his patronage, en-
larges the expenses of this city
$500, 900 Il year. BY forcing St.
Louis to pay also the big dcfici,
and close. the great leak in the
state treasury the Democratic man
ayers hope to keep themselves sol
i'll with the party in rural sections.
But the honest men of every party
now realize the Democratic ruiz
wrought in the state treasury
Globe Democrat.