Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1901-02-14
THE STATE SCHOOL FUND.
S1acial Message Sent to the Legs
1ature by Gov. Dockery Arent
the School Fund.
is aP.lT OF The STATE PUBLIC FUSD.

~ OVGfno Expresses ~
That the Present Investment is sare'
Business-Like. and should be Perpetu
ated by ~ Constitutional Amendment
Submitteai to the People.
jefferson City, Mo-, Feb. Gov.
Dockery to-day sent to the legislature
the following message:
To the Senate and House of Representa-
tives: The permanent school and seminary
funds of the state, are invested in school
fund certificates, issued under various
acts of the general assembly. They are a
part of the public debt OF the state, and
| amounted to 1883, $780, AZ on the first day or
the present year.
These certificates bear interest at the
rates of five and six per cent, involving
an annual interest charge of $3.50, N1.9I, OF
which $IS6, 99e is distributed for the pur-
pose of educating our children in the pub
lie schools. and S~6o,0i1.97 to maintain the
state university.
Under the wise and economic policy of
the state during the last three decades
the bonded debt OF the safe has been
steadily reduced, and will be entirely eN-
tinguished within a short period of time.
After the retirement of the outstanding
bonds the only remaining DEBT OF the
state will be the school fund certihcates.
This being a debt due to the pubic
schools, it is not desirable to e~Xtinguish
1t, because at the present rate of interest
1t brings to the treasury a handsome IN
come to maintain our splendid edu-
cational system. The constitution pro-
vides that the school fund shall be IN
vested either in bones of the state of Mis-
souri, or of the United states. and 1t fur
: Their requires tina at least SIS, 900 of the
1 public debt shall be retired annually.
Draws CONCLUSION
With the rauidly approaching iiQuida-
ton of the bonds of the safe, the con-
7 stitutional provision requiring the re-
duction of the public debt by at least
$780, GO yearly, will OF necessity Apply to
the school fund certificates. The conclu-
sion, therefore, is inevitable, that the only
]. remaining opportunity for the investment
Of the certificates thus retired, Will be III
bonds of the United States, unless some
provision is made by the people to perpet-
uate the certificates, which by the terms
: of the act authorizing their issue are de-
clared to be sacred and irreVocaole
: obligations of the state, u"nconVertioie
! and untransferable from the purpose OF
y their issue"
The issue confronting us is clear anc
, distinct. 1t rises above any question ol
=, mere party advantage or disadvantage. u
should be net in that broad pubic splrl
Il which actuated ana guided those falthfu
representatives of the people, who, ire
spectivc of party, established the pohcA
which for thirty years has materially con
X tributed to the growth and development
of this sacred fund.
n CDO 1uhuF ~ " IA 49,
more than a quarter of a million dollar
annually for educational purposes. Shal
this system be continued, or shouio III
state pay off the certificates and lnves
the proceeds in bonds OF the Unite
N States. which will yield an average IN
- come of perhaps not more than two pc
III cent? Is an investment in oondS Oh III
r United States, which will thus nlaterlal
reduce the annual income for the schoolS
a sound business policy? Do the securitie
- -. IT. Stnfac offer a more Gel
o. tain guarantee OF safety than the secur1
4 ties of this resourceful state?
or Makes Recommendation.
I unhesitatingly express the conVlctlo
- that the present inv eStment is safe, puS
es ness-like, and should be perpetuateu .
to a constitutional amendment, to be SUI
as mitted at the next general electloh.
The existing system of issuing scho'
fund certificates has the sancuoh OF Suc
ce illustrfous chief executives as BROW
RS Woodson. Hardin, Phelps. Crittenden, al
n all their successors. 1t has been approve
by the general assembly, under the col
troll of all political parties.
IT. It ORIGINATED in the senate by the pa
sage of senate bill number S64, March
~ 1872. The bill was introduced by Senat
Morse. a distinguished Missourlan, al
&c passed by a vote Of Is to only nay.
.ry was sustained at the time by such en-
Mt nent senators as Birch, Blodgett, Broc
noever Gottschalk. Headley, Morrlso
Vandiver. and by the father of our sta
university, the gifted and iamenteo ~
lty Tins. The bill passed the house on mar
,ur Is, 1873, by a vote OK 20 yeas y % hc
ed. 1t was hearuls suppod. p;+tineer 10
% Moore. O'Bannon and others. 90
The policy was again approved IN u
re- nv the enactment into law Oh senate l
all number q: every se mamber of t
teo house voting on the proposition exec
two. sustaining it upon a call OF the II
be Further Reasons.
on = Again in 1855 the policy OF issui
school FUND certH Hatea bitI No 52S. un,
Oy tha leadership of Hon. John L. Biting
Hon. T.. +. Russell at the time De
cen sneaker of the house. L note with mt
on pleasure that among those supporting
bill were Bittinger, Quincy, HARRIS
Pettiiohn, Tatum, Tubs and others ECU
rlv- ly earnest in support of our pupiic sen
TIN system 49,,
1896. also emphasized the hearty ana c
J. dial approval of the people OF Nlissol
every senator VINO voted RECORDING n
lea self for the bill. Among the senat
u then advocating the issue of school II
certificates were Brewster FuSche,
yisson. kennfsh, Mott, O'Bannon, Wur
I'M man and others OF equal uiSalhc'loh
in our legislative annals.
ross finder the requirements Of the con
= :. tuition, as 1 see it, the path OF dut!
= alain. This sacred funu, the ihteACSe
which goes to the maintenance OF our
ted. ucational system, should continue 70
-. de6icaIed to the cause OF edocation-
MS ToIicy should be irrevocably lmpeuuet
nd" ppur constitution by a unanimous votf
ern. ire people, SO that for all coh1lns 6.
tho interest upon this II
Tbich in amount SurpasSeS that OF
ops, other state OF ea nns ,io oni of our ehildre
ding apd' A. NJ. DOCKER
executive Office, City of Jefferson, 1
ruary Z, 1891.
elyn Golden wedding Anniversary
ther P~inckneyville, ILL.,, Feb. s.-Mr.
Mrs. Philip Gruner celebrated ii
v so Golden wedding anniversary, Wedl
y q 6av. surrounded by their child
grandchildren and great-grande
dren. They ave lived in Pinckl
Vile since 1854.
n of Japanese Dehcit.
de a Yokohama. Japan, Jan. 20, via
e ex. toria. B. c., Feb. s.-The japan
Iowa, toria, r. C., Feb. The Japal
the finance minister has issued a st
ment showing an nate
deficit of e9,00o.oOO yen.
~ nNmanH nm PRrn