Mexico Missouri message. (Mexico, Audrain County, Mo.) 1899-1918, 1902-09-04

cans DypnOtiZcd Tor three decades by
some unseen influence, and inveigled
into the support of improper meas
ures7 The people demand frank
response.
The change in the form Of invest
ment OF our school moneys from the
bonded form" of Indebtedness to the
certificate form" of Indebtedness,
made upon the recommendation of
Governors Hardin and Phelps, was
simply a change from the negotiable
to the non-negotiable form of bond.
This action was taken in order to more
perfectly safeguard this sacred fund.
The negotiable bonds were transfer
able from hama to hand. while the
non-negotiable bonds are made to the
State Board of Education. in trust for
the schools, and can not be trans
fcrrcd. This change, therefore. OBJ
viatos the possibility Of the loss of a
single dollar of school money.
Management school Funds In Republican
States.
In view OF tho opposition of the
present leadership of the Republican
party TO the investment OF school
moneys in our own securities, II may
bo well to note tho position Of other
states in respect to the Investment OF
school moneys.
It seems that the Republican state
of Ohio maintains similar system OF
investment. A letter from Hon. LOUIS
ID. Bonebrake. State Commissioner Of
Schools in that state, to Superintend-
ent Darlington. under date of March
% OF. the present year. says
"The investment of the school funds
in this state derived from the sale OF
public lands, has been conducted by
dcposlting said money in the state
treasury, this to constitute an IRE
ducihle state debt on which the state
pays & per cent interest. and such in
tcrest Is distributed annually to the
counties of the state for the benefit of
the school dstriCts. This plan has
given entire satisfaction and there has
been no agitation in regard to chang
ing the same"
Tho following extracts from n letter
from Hon. Alfred Bayliss. Superin-
tcndcnt of SchoolH, of the great state
of Illinois. 10 superintendent Caring
ton, under Same date. also says:
I'm reply 10 yours Of tho 26th inst,
! send You Ivy express. prepaid. to-day,
copies Cf the XIV and XXllI. Bicn-
Illbl IA'INlIl| " lIlS ufItI lIlltH|. VII
page 100 To l43 of the XIV Report
you will find sketch of the pCrma
ncnt school lund of Illinois On page
"a of the MIL. Biennial Report you
will find Il statement in regard To the
permanent school fund.
"Tho school fund proper. the
uurplus revenue. the college fund and
the seminary fund amount to 81 1885,
IN ptu i. mi
said to be ont of debt. by its own
laws. It il held for that sum. and 1t
pays tho interest on the same yearly.
which amounts to $40. 924.44. This
El,1G5.40732 represents not fund
hold by this state, but an amount of
money which the state has received
In trust and used for its own purposes
and upon which it has pledged itself
by public act to pay interest at the
rate of per cent until It refunds tho
money. The art providing for such
disposition of these funds was UNI
doubleday bcnctcent. for it has prob
ably been the means of saving many
losses which otherwise would have oC-
Cured"
also quote from the Superintend-
ent of Public instruction for the
state OF Michigan. Hon. Delos Fall
in letter to Superintendent Caring
ton:
in reply TO your letter of March 26
will say that by the ordinance of 1881
the sixteenth section OF each town
ship was reserved and the proceeds OF
the sale OF the same was TO so to the
primary school fund. Besides these
lands the government also coded &c
the state certain so-Called swamp
lands and other reservations for the
same purpose These lands have praC-
tlcally all been sold and the money
has gone into the state treasury and
been used by the state. but the state
pays on about one-third OF the sum
z per cent interest and on the balance
per cent
Again, quote from tho letter OF
Hon. l.. II, Harvey, Superintendent
of Public Schools for the state of Wis
cOnsin:
"Your favor of March &c was re-
Ceivcd this morning. The matter &c
which you refer has never, | believe
been the subject of any serious discus.
sion I'm this state The certificates OF
indebtedness in Wisconsin amount &c
81 5G3, 700. IT appears that this state
borrowed from the sChoOl funds very
nearly this amount in 1866, Al the rate
of per cent per nnnum. This is
practically the only permanent schoo
fund In this state and yields us eacf
year $lO9,i59 Although the state
might now borrow this money or {
largo amount of it from these same
trust funds at the rae OF three anC
half per cent per annum, no one %
tho state officers nor any member %
the legislature has ever brought thu
question up for discussion or legisla
tive enactment"
1t appears. therefore, from the let
ters from which ! have quoted that thu
Rnnmhlirnn EIntns Of Ohm Mirhi SaI