People's voice., 1899-09-28

conclusive to show that the permanent
school fund, which aggregates st, oo,ooc
is being invested Trough and by pull
exerted by scheming agents" OF which
Andy Richards is a bright example: Ihe
state board of school fund commissioners
is composed Of the attorney general, sec
retary of state and superintendent oil III
struction.
Thus the republican boss holds up q
city in his own county for $500 for doing
what a postal card written by the clerk
could accomplish Just as well. Thl:
is patriotism; but it should be excused
because in the days when he ran
wheel of fortune here in Well
ington the habit of holding people up
was so thoroughly formed that he can
not stop and does not want to. What
lucrative business, what green pastures,
what an opportunity for craftsmanship in
holding up other cities in the state when
only the favored few, the bosses, can get
next the throne and borrow money from
the state at 4 per cent and all Others
must pay AZ or 5 per cent?
This and other pulls with the state and
national administration is what enables
the boss to run a 25c newspaper filled
with gold standard and trust literature,
and furnished by the republican state
central committee, and send it
indefinitely especially to populists and
democrats whether they want it or not.
This is reciprocity.
The people of school district No. 90
and all other rural districts with security
just as good as the cities can offer will be
pleased to know that they are discrimin-
ated against by the state and must pay
5 per cent upon the money they borrow
while the cities get it at 4 per cent and
this while bond clerk is drawing his
5000 per year in the office of the state
superintendent for attending to Just such
matters. During all the year 1898 this
fund was not allowed to accumulate. 1t
was loaned at percent to city and county
alike without commissions to any ore. Sa-
lima, Abilene Wichita, and many others
borrowed at this rate. 1t is the duty Of
he commission having this fund in
charge to get the highest rate of interest
possible. Over three-fourths of million
dollars was invested at 5 per cent in 1895
nd every dollar of the bonds good.
these loans are made for from 10 to &C
ears and .ho loss of per cent on sin
~ ears investment means loss to the
:chools Of the state Of more than 10 pei
,eIt of the investment. If all these in
raa' mentS ma lie directly from mu.
inequalities in the state it would not be SC
bad even tho favored bosses did gel
their rake-off; BIT much will be invested
in bonds held tie east and which car
be bought on the open market at dis
count. If low * lie rate on the in.
vestments of the school fund would low.
er the rate of inte-cst int state il might
be excused but it will not. The only ef
feet is to rob the school children of the
state of what is due them and give &
chance for such deals as the above anC
also to buy bonds on the eastern marke
at discount and II them at par. HaC
there not been a desire to favor Topeka
banks and republican bosses like Rich
ards at the expense OF the public school.
of the state this money would not havt
been allowed to accumulate and it would
not now be loaned through pets at les
than the market rate.
During 1898 the demand for this funC
was greater than could be supplied anC
that at 5 per cent. No other money i
now being loaned at per cent. II is be
low tie m aet rate and is due to lack o
.ood business sense or worse. This i
ia rcl lii,ion of the scandals of til,
Isl republican administration in plund
ring this fund when in one deal alon,
Kingman county bonds, middlemei
made SI6. ZOO.