Mexico weekly ledger., 1902-10-30
The CONSTITUTIONAL Amsndmsnts.

III ldNoI Vi local TAXATION. a
Eyes" vote viii continue the present
condition Of undiminished State aid.
The amendments Ia detail are as
follows:
The First M is simply a repeal of the
amendment heretofore adopted in re-
gard to taxation Of land mortgages
which the Supreme Court decided
null and void, as being In violation OF
the Federal Constitution.
The Second ~ facilitates township
organization in such counties as shall
desire such organization by making a
majority vote, 1.-THE majority OF those
voting.
The Sd, 4th and 9Th apply only to
tine City OF st. Louis.
The Sd authorizes the citizens to
determine for themselves whether
they will have a new charter or not
The 18th authorizes that city to levy
an increase of tax not to exceed 30
cents on the slOO valuation.
The 9Th empowers the voters OF st.
Louis to authorize by a two-thirds
majority the issuance of city bonds to
the extent of 5000, 600 in addition to
the present bonded debt.
All Of these amendments are neces-
Sary TO enable the City Of st. Louis to
hold the Louisiana Purchase EXPOSE
tion in 1904 with credit to the city
and honor to the State. They in no
way affect for taxation any Others than
the people Of St Louis. But it re-
quires a vote of the people Of the State
to amend the Constitution 50 as to al
low them to act for themselves.
The Fifth t5) amendment affects
cities Of 100000 inhabitants or over
and authorizes an increase Of levy for
school purposes.
Any one outside Of these cities can
safely vote for all these amendments
as they merely empower the large
cities to tax themselves for more
revenue.
The Seventh Cd Amendment is all
important 10 the people of the whole
State and should be adopted in the
interest OF the public schools.
1t provides for the renewal Of some
A million dollars Of certificates, be-
longing to the school and seminary
funds-upon which the State pays 5
and 9 per cent interest, making some
$4,000 distributed annually to the
schools.
II the amendment is rejected, then,
under the provision OF the Constitu-
tion as at present, these certificates
must be paid of and the proceeds in
vested in government bonds at a
greatly reduced rate OF interest, yield
ing only about $4,000. This would
entail a loss to the schools Of 1852, 900
annually.
II the amendment, however, is adopt
ed these school bonds or certificates
are TO be renewed and the tax now
levied Of 10 cents for the Sinking Fund
is abolished and a tax not 10 exceed 3
cents on the sGOo vafunef0n SUBSTITUTE
ed therefor to meet the interest on
these certificates.
This interest, paid by the State to
the schools, is raised by the taxation
Of all property as other taxes are
raised. But if the funds are invested
in government bonds (which would be
the case If the amendment is defeated
the assessed values in the large cities
and OF corporations would be relieved
Of their portion Of the interest tax and
the deficiency would have to be made
up by a heavier levy upon each school
district, or its school terms shortened.
There has been a good deal Of mys-
LITIGATION and cant aboHt-this invest
ment Of school money, when the fact
is: the Legislature simply, in the in
terest Of the schools, changed the in
vestment from government bonds to
State securities yielding a larger in
come issuing the States obligations
payable TO the Board Of Education
and cancelllng an equal amount Of
State bonds. The amount Of the
States Indebtedness remained exactly
the same, only the interest, instead Of
being paid 10 individual holders Of the
bonds, is paid to the schools OF the
State. In other words, paid by the
people TO themselves for the education
Of their own children. As other
school moneys accumulated they we're
paid into the sinking fund and an
equivalent certificate issued.
While other states, adopting this
method OF safe investment Of their
school funds, have made their debt
perpetual-under this amendment the
certificates are made renewable "for
such period" as the Legislature shall
provide.
Thus in Ohio, the governor in his
last message says: 'sThe irreducible
debt Of the State, some five millions OF
dollars, is derived from the sale Of
school lands, the proceeds Of which
were paid into the sinking fund with
the understanding that the State would
forever pay the beneheiaries Of these
lands six per cent interest annually
upon the money received and used by
her, and that the principal Of the debt
shall never be paid
The eighth and last amendment is
in the line Of municipal ownership
Of public utilities and authorizes
cities from 1000 TO 10000 population,
with the assent Of two-thirds Of the
voters, 10 issue bonds for the con
struction or purchase Of water works
and electro or other lighting plants,
provided the amount does not exceed In
addition 10 the already constitutional
limit, five per centum Of the value Of
the taxable property q such city.
G. CLAY.
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