The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-10-17

To ,he Editor or The Republic.
Warrensburg, Mo. oct. l5.-The statement
of State Auditor Seib. IT in reference TO the
management OF the State School Fund. the
editorials of The Republic on the same
topic. and the article of Colonel William r.
Switzler upon Certificates of indebtedness,
are absolute proof of the wisdom and
soundness of Democratic management OF
this sacred fund. ami furnish complete
and crushing reply to the stupidity reckless
attack OF the Globe-Democrat.
But the Ciobe-Dsmocrat. I'm short edi'o-
rial paragraph. makes an u'quaihed raise
hood the basis of a new attack. Since | haG
more Ia do with the conversion OF the STAT
School Fund in 1875. am more responsible
than any , q else. in fact. virtually made
it, receiving the formal Endorsement OF the
State Board of Education after all prelim-
inares were concluded, l am directly IN.
volved in this serious charge OF oincia'
stealing.
think what follows will demonstrate
clearly that the Globe Democrat has uttered
deliberate faisehoods. or Is sirprisinsF'
stupidly. ignorant of State afairs. Iatchins
II on either horn of this dilemma snouid W
terly discredit it with all honest and intel
lgent readers. ,;,o-,,,
10 which II is desired to make speciiic ana
full response is the following:
Democratic officials is this state nav
had at least two methods OF Sluahueii'ie
the public school and seminary cas!l en-
downment" falsstocd No. ], as VII,
demonstrates directly: not dollar OF either
fund was ..sauandere,i." lost. mi-appned. OF
,sed .or any purpose whatever, except as Il
nermanent. irreducihle fund for puo.ic
schools and the university, as r'qI'ea ~
the Cnnstitution) land replacing " WI"
,ner. certificates of debt that nave h''
Constitutional standiEs. lF'alsehcod No. :
IA
standing" IN one case Democratic .ih-
miris;ration sold United States bonds pc
Icnoies TO the schools amounting To si'o''.
aO. spent the money as Eehef'i rcIe""
dalsehood No. 3. having not the shsh'est
conceivable basis OF TACT as 10 sPeiu'is 80
which ever happenep a
ce, titicate OF debt. ,.,.
The remainder OF the mendacious az ~
follows but when We are through w.'n
foresoing II will not be necessary 10 ueat
with this further than TO char'''ei'~e u "
above-false: a ,,n tho
mt coming from the sale of college iands
,a , Government war indemnify. amount
a., IN all TO 81 229 sSe.ic. and left no trace Oh
either except State certificate OF hep'
n,vers are carrying the whole pufoeh AT
a,d : per cent and must pay the prlieipa. pa.
ir q, issever to he changed back from oeo'
to assets. r. h;,h tho
c-iob.-Damocrat well kncws, or Is iieN-
,.,.,bl, irnoraDt Of If IL knew them "n
;, ,,t,cEs were made, IL has been Suii'S
~ deliberate. malicious falsehooH.
constitutional Requirements.
.,,,. CONSTITUTION Of 1866. as amended before
tho Democratic party came INTO po"er'
- Az. School Fund TO be invested III
~. of The United States or in bonds Oh
~ c,a,e of Missouri. This was the Consul
- 80, In force whsn the CONVERSION or the
- ,ras made. The Constitution OF ls''.
-, vas soon after declarc adopted ana
or.r,tiop retained this requirement
Doth Constitutions also lett the tuhd IN ''e
a,,s,ody of the State Board of Educatioh.
The board that came INTO eAiS'ehce III
,s-z ATTORNEY General Hockaday, Secretary
r i9'S s,a,a NcC;rath and the Superintendent; OF
u,,tI;c schools, the writeD found that
n,ro.IIv all the bonds in the fund were
fn;,od states bonds. In October. 1919. the
- having sufficient cash. purchased
S,,so,ri bonds to the amount oil SioVo.
Soon after this nearly every caii OF Lhi'fu
states bonds for redemption. made by Sec
rat.ry Rristow, included some of the bonds
held ny our board.
7, hecame evident that before long all our
,,,,,ss would be called and redeemed-as, In
d.,ad they were. The board. If il did nos
ch,osa i,a own time for disposing or its
I-rit.d States bonds. and at premium tas
:, ,lido would, # knew not how soon. be
compelled to take par. In cash. and lheh
rcinyest In other United States bonds. or
bonds OF missouri
Al The time both gold and United States
bonds commanded high premium and Mis-
souri, bonds only premium of one-haff to
l per cent The United States bonds were
constantly declining in value. and the state
bonds were steadily appreciatng. The dis