The Holt County sentinel., 1900-11-02

That to say that the state school
money was used to pay s,ais bonds. is
an admission that the school money was
used for other than school purpo ses-in.
dirsct violation OF the Constitution. To
say that the boLds ere cancelled. ia Il
cay they d,d not secure The ate s,noul
fund with state buHds-anuiher viola
tion of the constitution. To say c-rtiii-
Gates OF indebtedness wer- issued IN lieu
of bonds is TO admit thai nnnthar form
Of debt VAS created. Tn new form o.
debt bears 6 and D per cent irt-re: t
whereas the state bonds Le .r but 3IS
per cent.
That The people # he stale of MIS-
sonri pay this increased rate Of interest
upon this new form of debit, whereas
formerly they derived sIlG.OOO year
from government bonds alnne.
That it looks very much like "sly
deal" was on when the bonds we're re-
deemed ~; that the ring bought the
bonds from the fund commissioners at
1888 each, aud than pr. $40 change, sold
them back to the state at little over
81 600 piece then, you know, the
money came out OF the state school fund
and it WAS Of no consequence. Only a
neat little profit OF about si2 on the
81 900 for the ring.
, That il the position OF the Demo-
cratic administrations rs correct. and
bueiBess-like in its management nf the
state echool fund, then the county court
OF Holt county would be jusiIiiable in
using the county school fnnd, Ifor 1t
was created and is in all respects similar
to the state school fund.- for purposes
other than for schools. Spend the whole
OF the Sl0O, 900. and replacs this amouat
with the county's notes, bearing Z per
cent interest. At present the county
receives HI income OF 5000 On her
slO0, 600 school fund, which lessons the
taxee jast that amount. Under the ex-
ample set 10y the state house ring. the
people Of Holt county woul.i la called
upon for the 1900 interest increasing
their taxes just that amount. What we
have here supposed might ba done with
the Holt county school fund has ac-
tually been done with the nearly S5,OCO,-
600 Of state school money.
That the state sold her tobacco ware.
house for Sl32, 900, and put ths mon. y
into United States Dor ds The Demo
cratic management s1id the bonds ar 4
used the cash for other than school pur-
posee, and Issued it's note upon which
the people pay five per cent interest
Taxpayers, think Of it; paying interest
on the mo ney derived from the sale OF
your own property.
That the present state management
took the S646, 900 government war tax
refunded to the state; the $4,000 de-
rived from fines assessed against the in
surance companies, and used it for
other than school purpoos, in direct
violation OF the state constitution. That
they have failed 10 app,riion the 1922,
900 derived from the 2 per cent insur-
ance tax, that under the law belongs to
the school fund.
That since the Democrats were re-.
stored to power in state management
the entire school fnnd has disappeared
as ''fund", and appears az debt
against the taxpayers of the st,ie.
That this is the whole story, and no
amount Of Democratic wrigglIng and
can change it,
That bonds # the state uf Missouri
are negotiable; payable to bearer. Ger
liticates Of indebtedness" are not bank.
able security because they read upon
their face. This Certificate is non.
negotiable. non convertible and non
Yet the Missouri spell |
binder would have you bel,eye that they
are the came as state bond. What
would you think Of taking n mans note
to whom you had loaned $1,000, that
'ead This cote Ia non negotiable. nor
and non- convertible.
That nowhere does the constitution
permit the use Of the school funds for |
OF state bonds.
That the people would like tc know
what became Of the money that was in |
he sinking fund. or should have been
here, flor It surely had been collected
rom the taxpsyersl with which to pay
III and discharge these bonds.
That the children of the state has
'een given millions by the government
4 the United States to help educate
hem, from which money they received
handsome sum in the wa, ,rf interest,
without any taxation wha'-r.r. That
he state house gang ss iru. toe has
pent their money, and nov compel
heir parents to pay the il teresl by a
ak levy.