The Farmington times. [volume] (Farmington, Mo.) 1874-1902, 1901-02-14
THE STATE SCHOOL FUND.
Special Message Sent to the Legis-
lature by Gov. Dockery Anent
the School Fund.
isA PART or THE STATE PUBLIC FUND.
Tho Governor Expresses tho caavlctIep
That the Pressat IsssstmsnI % safe,
basinsss-Lihs. aHd shsu;d be Psrpsta-
atsd by - Constitutional Amendments
sabaiitisd To the People.


Jefferson City. NO, Feb. 7.--Gov.
Dockery to-day sent 20 the legislature
The following message;
To The Senate and House Of Representa-
uves The permanent school aud seminary
funds Of the state, nrv Invested IN school
fund certificates. iasucd under various
acts Of the general assembly,. They are a
pars Of the public debt Of the state. and
amounted 10 N19, 90 on the FIRST day Of
the present year.
These certificates bear interest at tho
ratca OF hVo and siN per cent. involving
an annual interest charge OF i150.agig7. ~
which fss,ee u distributed for the pur-
pose OF educating our children in the pub.
lie schools. and ts,,o,lG 60 maintain the
state university.
Under the wise and economic policy OF
the state during the last three decades
tho bonded debt OF the safe sas been
steadily reduced and viii be- entirely ex-
tinguishcd within q short period Of time
After the retirement OF the outstanding
bonds tho only remaining debt of the
state will be the school fund certificates.
This being o debt due ia the public
schools. u f. not dctlTuhie to extlnEaiBh
u, because at the present rate Of interest
II brings 90 the treasury q handsome In
cational system. Tho constitution pro-
vidcs that the school fund shall be in
vested either IN bonds Of the state OF Mis-
souri, or uf thv United states. ana II fur
Their Requires that az least - co nf she
public debt shall be retired annually.
Draws Conclusion.
With the rapidly approaching liquida-
lion ~ the bonds o. the satc, the con-
sutuiipnal provision requiring tho TO-
Of Is rtHtf.t .Hs.t.s -
$1,000 ysasiy. uiu nI necessity apply to
the school fund certificates. The conciu-
sion, thvrt fore. r. inevitable, that the only
ryfnaininE opportunity for thu Investment
81 the certificates thus retired viii be ia
bonds 81 the United States unless some
provision h made by the people 10 prrpet-
unto the C,riinrattF. which hy the terms
OF the act authorizing their issue are de-
clarcd 60 be sacred and irrcvocable
obligations ol tho state uuconyrrtibln,
and untraurtorable from the purpose Of
thyiT irsD,"
Tn" issue confronting US IL clear and
distinct u rises above any question ~
mere party adyAutuE, or disadvantage II
should b, met In that broad public spirit
which artuatvd ana guided those faithful
representatives. ~ the people, who, ire
sp"rtit" of party, established the policy
which Tor thirty yrur- has materially con-
OF this sacred fund.
The school fund. a. now invested. Yields
NOR" than 60 quarter ~ million dollars
annually Tor educational purposes Shall
this system bo continued. or should the
state uly un the orrtiHgatrs ana invest
the proceeds In bonds of the United
States, which win yield an average In
come ~ perhaps uul more than two per
cent? j. uu investment IN bonds uf the
United States. which viii thus materially
rndugv the annual income for the schools.
a sound business policy pu the securities
OF the United States offer q moro cer-
tain EuHriutc, %! safety than tho srCurl.
ties Of this TruUuTcpful state
MNk-A Recommendation.
I unhesltatinEly express the conviction
that the present I'M 18TH ont 10 safe bust
uess-Iike. and Fhould be- psrpetuatcd by
a constitutional amendment. to be- sub
mijted at the next general election.
The existing system Of Issuing school
fund ccrtirCalcs has the sanction Of such
illustriJun chief executives as Brown.
Wood lon, Hardin, PheIps Crittcndeu, and
all their successors II has been approved
By the general assembly under the ron
troll Of all political parties.
II originated IN the senate by the pas
sage OF senate bill number a5i, March p.
ls2 Tho bill was introduced by Senator
passed by "a vote - >, 10 only 1 nay II
WAS sustained AT the time by such emit.
uont FeTators as Birch Blodgctt. brock
meyer, Gutisrhnlk. licadiey, Morrison.
Naniiycr, and by the father ~ our State
univssriy. the gifted and lamentcd Rol-
lins. rho bill passed the house on March
= $50. by vote of IS yeas tu IS nays.
II was heartily supported In that body
by such Mlssuuraus AZ Rittinger. kCsL
Moore. OBaHnou and others
The policy was again approved In 1881.
by the enactment into NV 81 senate blu
number ~. every senator present voting
FOR the hill. and every member of the
house voting on the proposition except
two sustaining Il upon call OF the roll.
Further Reasons.
Again IN 1886 the policy Of issuing
schoJ, fund certificates was approved by
the enactment o, house bill No. ~, under
the leadership ot Hon. John l.. Bittingcr,
Hon. d. p. Russell at the time being
speaker n tho house ! note with much
pleasure that among those supporting the
I'LL were Bittingcr Quincy, Harrison.
peitii3hn. Tatum. Tubs and others equal
~ earnest In support OF our public school
system.
The vote In the senate on March 2.
1855 also emphasized the hearty and cor
dial approval Of the people 81 Missouri.
every senator VINO voted recording MN
self for the bill Among the senators
then advocating the issue OF school fund
certificates were Brewster. Busche Da-
vlsson Kcunlsh. Mott. O'Bannon. wurce-
man and others Of equal distinction in
our legislative annals,
Under the requirements " the cunsti-
tuition, hH I sec II. the path OF duty il
plain. This sacred fund the interest OF
which goes to the maintenance OF our cd
ucational system. should continue 90 be
dedicated to the cause Of education. This
policy should ba irrgyUcahly Embedded In
our constitution by unanimous vote Of
the people. 10 that for all coming time
the Interest upon this endowment fund.
which In amount Eurpasses that Of any
other state of the Union. shall be set
apart for the education Of our children.
A. NJ. DOCKERY.
Executive Oftce. city OF Jefferson, Feb
ruary I. isgi.
Golden wedding Anniversary.