Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1902-02-13
IRONTON. Y FEBRUARY 13.19

November. The people do not permit
jocularity on the subject OF their own
honesty in managing school moneys.
Every dollar OF the School Fund rep
resented in the certificates is repre-
sented in the States verified accounts.
Every dollar from the School Fund
which has gone into the redemption
fund is represented by Cancelled bonds.
OF course, since 1881 the school money
has gone into the sinking fund with
other moneys belonging to that fund
and there is not particular cancelled
bond to set off against each particular
sum of school money. As in Ohio, the
school money has become part of the
sinking fund, duly credited to the
School Fund. But in Missouri nom
negotiable bond has been issued to the
Board of Education, while in Ohio the
Republicans simply carry the school
account as an irreducible debt
When sum OF school money is paid
into the fund for the reduction of the
Missouri State debt the non-negotiable
bond at once is issued to the Board of
Education for the full amount.
Thus, instead of going into the mar
ket and buying a State negotiable
bond, as was done by Governor Har-
din, the State issues its non-negotiable
bond and places the school money in
the fund for redeeming negotiable
State bonds. And the amount is ac-
counted for to the last cent.
Though such a question would not
occur to an honest newspaper possess
ing acknowledge of history's elementary
facts" the Globe may ask why the con.
solidated Notwithstanding the
100000 of 1S72-of 1881 should be
represented by specified cancelled
bonds, while the amount of school
money paid since 1881 into the redemp-
tion fund is represented only pro rata
in the general list of Cancelled bonds.
The reason is that when the act ol
1881 was passed the State held certain
of its own negotiable bonds in trust
for the School Fund. Under that ACT
these particular bonds were cancelled
when the non-negotiable bonds, OF
certificates, were issued.
Since that time school moneys have
gone into the fund for redeeming State
bonds and have composed a part o
that fund. Certificates or nou-negoti
able bonds have thereupon beer
promptly issued The School Fund
has been sacredly guarded.
| buV, VI SOuioC, tuSt5 Is uO way "
identifying the particular bond can
celed by that precise part of the re
demption fund.
For example, if $4,000 of schoo
money should be paid into the re
demption fund, certificate for $5, ,00(
would issue for the School Fund. Th,
$4,000 would go, with perhaps
100000 from other sources, to tn
| liquidation of the State debt and tn
cancellation of State bonds. But no
body could tell just which of 105 bond
of 81 200 each the $4,000 liquidated
Nor would anybody be interested il
knowing. The School fund woul
have its full due; the State negotiabl
bonds would be redeemed and Cancelled
the books would show complete an
accurate transaction.
And yet the Globe has the evil
minded impudence to tell the people G
Missouri that this policy, approve
and participated in by Democrats an
Republicans alike-conspicuously by
petted favorite of the Globe, Maio
John L. Blttinger, in the session c
1S95-is ''gross attempt to deceive.
Though the Globe is making exec
lent campaign material for the d.
mocracy, it remains a matter OF RI
gret that these wholesale distortion
of elementary facts of history" al
circulated abroad. Why not tell tn
truth, or at least put on the virtue
silenceP-St. Louis Republic.