Marble Hill press. (Marbel [sic] Hill, Mo.) 1881-1923, 1902-03-12
Marble Hin. Missouri Wednesday

llor Allen and Treasurer Williams,
met late yesterday eflernoon and
ordered the payment Of 100000 Of
the outstanding bonds Of tho state.
ny this action Of the Board OF
Fund Commissioners the bonded
debt exclusive Of the school eortlf.
lcaies, Is reduced 10 s7s700O--ev.
cry dollar Of which will be paid
dor'ng the ensuing year, notwith.
standing sl,000,0O0 has been appro.
priatod from this fund for the
Worlds FAIR.
Governor Dookery was seen
Thursday by a representative Of
the Tribune, and was in ,he best OF
hnmor because Of tho rapid exun.
gulshment Of tho bonded debt. Re.
ierring 10 the action OF the board,
the Governor said:
at has been o long, weary road
for The tax payers Of Missouri, but
we are now nearing the period
when the last yssiige Of the puhlie
debt, exclusive OF The school ceftid
Gates, will have been fully paid.
! most heartily congratulate the
people Of Missouri.
hThe public debt had lis origin
ln The riotous waste Of the seeuri.
ties Of the state. Prior to the civil
war, the state had loaned its credit
In aid Of The construction OF rail.
ways, and had taken first lien
upon tho railroads TO secure the IN.
debledness. The value of these
roads was fully sufficient TO secure
the state from loss. Governor
Fletcher, 10 his inaugural address,
stated that they (the railroadS) are
ample security for the amounts ad.
vanced TO them respectively
"Despite this fact stated by the
Governor, in 1868 the roads were
sold for s6,13l,49G. although the
bonds and interest ut that time
amounted to s3l, ,73j, j,S40. The state
was loser by these TRANSACTIONS
which extinguished its liens in the
exact amount of s25,604, 4,3l4.
"This enormous loss TO the peo.
pie and this great burden they have
been carrying for more than thirty
years, was the direct result, IN part
ut least, of the corrupt use Of mon
ey TO debauch the slate Legislature,
Us Is clearly shown by the records
Of the United States court ut ST.
Louis. These records show that
sl93, 1850 was expended Dy the
Missoari Pacific railway alone to
secure the release OF the states lien
upon that railroad.
The democratic pruty eame into
power on the first day Of January,
1873. At that time the bonded in
debtedness was s2l,76S.000. This
debt was increased Sl45,4l0 by the
issue of u bank stock reiunding
bond and bond TO meet the liabiI
tiles Of the penltentiary. The total
bonded liability, therefore, at the
beginning of democratic control
was $21,918,4l0.
during the period of democrat
ic ascendency, S40,756,997 "a have
been expended, exclusive ofrefund-
ing bonds, in the reduction of the
bonded debt and the payment of
interest.
In view, therefore, of the rapid
approach of the auspicious time
when the last of our bonds will be
paid, 1t may be well, when that pc.
riod arrives, to adopt the sagges.
ton Of a distinguished Missourian
and call the people Of Missouri to-
getber ut the state capital to spend
a day of rejoicing. The republican
state administrations, in dealing
with the public debt were very
costly TO Missouri taxpayers. The
load of debt they imposed by pro
figate legislation has been Il griev
Gus burden upon the productive in
dustrles Of our state, but the people
may well rejoice that the hour OF
from state debt is near
at hand"