The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1900-11-03
Judas Not 50 Badly on.

The learned ex-senator Oliver said
last night in his long address that
a certain man whom he called Judas
had said to a boy in town that the
money received for the State School
fund had been spent as general
revenue. While it is true that certain
bonds were Cancelled at the time when
the certificates of indebtedness we're
issued the wise lawyer forgot in his
careful details to tell US that two-fifths
of all the State revenue is set aside
by the constitution to pay the interest
on the State bonds and to pay off the
face of the bonds as they become due.
True the bonds were cancelled, but
the money set apart by tine constitu-
ton for the purpose of paying bonds
was spent as general revenue-to
pay clerks probably-and the bonds
were cancelled by these peculiar some
things called bonds, by Mr.. Oliver.
If these certificates be bonds, the
State has done something snre enough.
According to the Democratic platform
We are to get out of debt in two years
under Democratic rule. According to
the State Constitution we are to be
relieved of two-fifths of our State
taxes as soon as we are out of debt.
But according to Senator Oliver and
our new bond system-certiticates of
indebtedness-it will he forty years
before we are out of debt, and we
must go on paying s1,050, $50 every
year that our public schools may re-
ceive Sl66, $50 and hat our State
University may receive S62, 911.95
every year. You see the State will
have a large balance to repair and
furnish that old mansion, and to pay
clerk hire.
According to Senator Oliver we have
no State School monies except the
interest, Sl66, 800, on these certificates
of indebtedness. Let me call his at
tention to the fact that one-third OF
the general revenue fund-which is
fifteen cents on the one hundred dol
lars valuation of property in the
State-is set apart for public school
purposes. This amounts to S525, 46S.
This is how the city of Cape Girar-
deau gets its ST, 800 from the State and
only a small part of it comes from
muniiicent school fund which is moth
ing more than a something-produced
by juggling-on which the Taxpayer
has 10 pay a rate of interes: almost
double the rate paid on regular State
bonds.
Let Us see how these certificates Of
Indebtedness originated and why they
were created and by whom they were
schemed through the Legislature.
This question is answered in one
wOrd-UniversIty. The friends and
promoters of our State University
under the guise OF trying to help our
common public schools have so manip-
ulated the school funds as to increase
and extend for fifty years their income
You will notice that only Seminary
fund certificates run fifty years. These
Seminary fund certificates we're mis-
named. They ought to have been
named University fund certificates.
Some of my readers will remember
that in 1895 these University schemers
undertook to get a bill through tho
creating several millions
more of these certificates of indebted
ness, but the Legislature sat down on
it. Yes s62, 81. 90 is a right handsome
sum for our University to get from the
81, 057 ,OsSO collected to pay interest on
our debls and to create a sinking
fund to pay the principal-some of
which does not come due till the
of fifty years from the
time of the issue.
The old prostitute, the Globe Demo-
crat, and these old turn coats like
Dick Dalton, Webster Davis, and
Judge Rombauer will do some good
after all. This school fund juggling
IS crooked and is going to be straight
ened, whatever else may be left un-
lone. We must not and We will not
pc. petuate our Indebtedness for the
great privilege OF paying into the
State Treasury s1,05O, $500 every
year to be transferred and retransfer-
ed and spent at the will of the Treas
lrer and Auditor. Our State debt
must be paid and III schools provid-
ID for in some legitimat, and business
ike way.
Respectfully,
j. S. MCGHEE.
w Carman how from 10