The Farmington times. [volume] (Farmington, Mo.) 1874-1902, 1901-11-14

fgft'hcstrs OF ihu"hl"dheH' '"thh'"""
ing January 4, 1901. Owen Al sA,5oa,.
sap.4s.
Jefferson City. Mo-. Nov. auditor
Allrn has transmitted 90 the governor
that part ot his report In reference to
the state school 'uad, from which the
following 10 taken;
TO It's EScyllrRcy. A. NJ. Dockory, Gov.
slr-In addition 10 the exhibits cover.
luR the receipts and expenditures by the
state from January I, lslJ. 10 December
II, 100, inclusive THIS day delivered 70
YOU have the honor 10 hand you here
with a table showing the condition ot the
ltate school ana seminary funds on jan
uary l. l.pl duly sworn to by me, IN he-
Cordaucg with section =. 81 article ?
nj the constitution. In doing this. ! deem
10 pruppt 10 briefly review the manhNr-
moui 10 these funds since January J,
STATE SCHOOL FUND.
This fund WIS created by an act " ~"
rrn"rul assembly, approved fohruty =.
lS,. entitled. AN act 60 establish per.
rauynt fund for the use and support ot
m" common schools. and thu tyrripis
INTO the fund have been derived frum thr
sales % the 'r1lIDr lends. the surplus
revenues Of the United states d~ppslird
with our state treasurer. etc. etc The
moneys VI the fund were Invested IN
stock ~ thu Hank ~ the State % Ms
squirt from time "a time. uutii IN lNT.
the stock held Tor the fund amounted 10
iGl. 90 ~. and remained unchanged nv "a
l"A As the constitution 81 1873 required
this fund To- bC Invested in United StaiyT
bonds the republican Erneral asSefnlnll
passed an act q. sell the stock, which
was approved Match @. l1G. and Il Was
sui1 90 capt j o. Eudg Tor GiA.J5 . tnt
il'e.o per 500 shtrl ana payment ihcr,.
for was made l1 bonds and maiurcd
'uapDuH ~ the stat, Tho bonds and gnu-
rous were Cancelled and the state debt
was reduced by ylk, Ei.sA, and there ihv
matter stepped Tor SIX years. The tund
consisted at cancelled bDudn aud coupons,
which ylsldrd no Income for the common
srhuols II will bC uNs,ryvd that the taw
under which .hc bauk stock was sold WAS
not complied with. because the proceeds
ff1ls - 81 wrrr used in tho payment oi
the public debt instead ~ bsine Invested
DO United States bonds for the benefit Of
the school funi
~ aci II the general assembly, ap-
proved March n iSfl entitled, AN act
creating q permanent school fund tttt
original school fund having bean wiped
out "a reducing tho state debit, the sum
% 81 5000 % the war indemnity money
duc this state BY the federal goNtrnmeni
Tor enrolling. spuippiug and provisioning
militia forces to nii in HuprrCps.Hg the
rebellion" vaa appropriated. ITO b. held
md s8rTrfiy preserved us "a public school
fund when Gen John Il. Gray the
states agent. collected the war indemnity
money. ID" 81 '"'t'u Was placed Co thf
credit ~ tho school fund and Invested IN
United States bonds md u has been
hold .r,rrhly and urrsrrv-d' Tor the
school children down 10 this day.
The republicans dil not st ABIDE an
distribute tho state school moneys durluu
md after tho uiyll war. but used ali II
tho revenue fax not required fur support
80 the state government IN cuuirpiuf
GIH m7iUtIluiuH troops rr they wcrH per-
f'.tiN eiail'ol On H''nEi. and when Cd,
federal government rSlWburgrd the state
ln lsFi. II wla right and proper that The
school moneys, su expended. should b.
refunded t. the school children. Tho do
nation ~ 81 'DuN has been referred :,
fs evidence ~ the good faith ~ tho ru
uuhlIeaHE IN doing Hu tn. facts are that
fHr receipts into The rvy'Hu" fund duriul
ih, years lstl. iNG. 49,, l'6t Is-a issf uu,
SO tvh'n no part NJ tho rrtrnuc fun
we rJf nsidf for ih" common schools
amounted Ca ti..sjqlgs g. and the chutrti
urT, entitled under tine lIS thru exist
trr. to uuc-fuurth. viz 81 s55. ~ . u wl
Goo ersu that the republicans did not full5
reimburse the schools, but held out 80
INN
ON January l. i.5l. when the republican
party went out Of power and The iibcu
republicans took control. the school fun,
consisted Of
per cent T. E bonds .....-. 81. GO IN =
cash awaiting Investment .-.. f,,f Z
p"r cent Missouri bonds ...... snep 4
Total ............ ................u .s7ia,' I
THE First CERTIFICATE ISSUED
Ia tS54 tho constitution ~ 1865 WA
amended to- permit the investment ~ ~,
rChrnl fund IN the bonds Of this state
ami ir that year senator John q More
~ Jefferson county. Introduced I'm no
-EN ln the senate then latHeiy republican
directing the issue - q per cont
sfHto rrrtiHCnt" NJ indcbtrdur-r Tor rIi
He. lu reimburse Nv school fund fHr 'hl
proceeds ~ the sale ~ the bank -tpcl
no lFcE principal ana interest (which m,
been Improperly used frr the reduction
~ the state iehD. On ~ passage in IN
senate the vote riuud Ayes. q noes
tSpuunhorst- dtmuorau. Among tn r.
ubhliydu senators who voted In the ~
nrfuitivC were. &. e. Allen tTf JtFpsrl
Iuuis Hrnakc. Wells u. Hl1dEpft Wlhar
" HrHwnc TAumpr A. Bupklan1 lIrtrl
ion Davis John NJ Fuller. William Fullr
uius Louis GuttSrhnik & " UtrIlre
Authou' ifin,r. william n Rogers "
o. ItnStbtrry, James SouthBrd u u
N7udiyert David 4. Waters. G. $. Brown
note mat James q Rollins. ut Columbia
wire lsft sf,t10 by will to be invested n
a certificate NJ Indebtedness for q grhOl
grphip in the unl~rsliy, WAS then senator
and voted for the Issue 81 this. the mrs
permanent stutC certificate ~ indebted
ness Among the distinguished democrat
who supported the measure WIS HDur,
o. TTukmeyor of St Lcuis N'aEy 81
senate Journal iS7sl. The vote on the III
in the house Ftnhd: Ayes. - noes "A
among the republican Representative
Who voted IN the afflrmstiN" were. Al
hs~ 81 Polk: Alsup. Of Howell. Asher. q
CLARK; Auer. Of st Louis: Bittinrsr. o
buchanan: Rohn, o. Benton: buckley, o
q 20. cloud ~ JsEpcr; Culeurd, NJ 81,
'sl Crockett. Of Andrew. Dent, u
Hickory George. 90 Camden Ilckman
~ Warren; Hickman, Of ST LON. Ilar
mon, Of N"inway: Hooper. q AdaIr
Eurt uf piv!esr. l.amEnn Of Mcdonald
i.nnrston. NJ Greene; Leach, af Gascon
ode: Martin Of Caldwell. McAlllstcr. o
Scotland: McMillrn. NJ Cooper. Miller q
Douglas; Norris. ~ ozark: O'Uanunn o
Dallas: Pnpc. Of 81. Louis Robinson. o
Holt Rolsion, NJ johnson, Sharp o
echuyler and Steel Of Cooper page iitf
House Journal. 18Th. The bill was np
proved March - 1879 ~. 10. Laws 18Th
ard the per cent. certificate Of indebted
ness for gan an was issued on July l. 1871
under the iibcrni republican adnilnlstra
tlcn If Gov. II, Dratz Brown.
INVESTMENT IN MISSOURI BONDS
on January I. is1h the fund cousistei
n the following;
6 per ceai u. =. bonds ........ 81. 81, 900 q
per cent. Missouri bonds .... so,eo 3
per cent Missouri certificates
81 Indebtedness ......s..r-...... snAo0o 0
Gosh awaiting investment 800. eth i
Tctal ..,...... .............sssa. =. {
In December 1876. under the wise nd
r,snistsation OF Gov. Charles ~. Hardin
the state board Of education rofd M
si,sfis coo Of United At.teE bonds for 81.
ai1.sas and with the proceeds Of the sale
other receipts End the cash a.ait!ng IN
ycstnCnt. siPif.nni Of the s per cent Mis-
Enuu bonds were purchased for the rum
nj cpat ~ si.sJs. sig co. Including q.
paid for brokers commissions. The ~
eiiit WIS that the state school fund wa
Increased faore than t-noaep without cost
ing the taxpayers a cent
on January l. isSi. the fund conslstel
of.