Mexico weekly ledger., 1902-10-02

1t Is charged by the reckless lead
ers of the Republican party that the
pending school fund amendment is
submitted to validate" the alleged
unconstltutionality Of the school certi-
ticates. Such a claim is false and
wholly at variance with the facts.
Even If the Legislature thought at the
time the amendment was submitted
1t was necessary to validate" the I'M
challenged action of all the Legisla-
lures during the last three decades, it
would now be unnecessary because
the Republican party has nominated
Judges Whybark and Higbee who de-
clare that the school certificates are
constitutional. The attitude of Mes
srs. Whybark and Higbee is not the
occasion of surprise, inasmuch as these
gentlemen could not In honor hold
otherwise, because while members Of
the Legislature they voted for the
issue of school certificates.
The school fund amendment is sub.
lnitted solely because Of the fact that
with the extinguishment of the less
than half million dollars outstanding,
bonds at the beginning of the coming
year, the Constitution will then re-
quire the State to pay the school GER
tiflcates, as heretofore stated, are a
part Of the public bonded debt, and
the Constitution says that "there shall
be levied and collected an annual tax
sufficient to pay the aecruing interest
upon the bonded debt Of the State and
to reduce the principal thereof each
year by a sum no5 less than two hun
dread and fifty thousand dollars" etc.
Nearly three hundred thousand dol
lars Of school certificates mature dur
ing the coming year. The State must
either pay or renew. There is no es-
cape, under the present Constitution,
unless amended by the pending amend
ment from the payment OF at least
s25O,0O0 OF these certificates yearly.
The Legislature has, therefore, wisely
submitted to the people an amend
ment providing for the investment Of
the school moneys which may here
after come into the treasury sin reg
istered county, municipal or school
district bonds Of this State Of not less
than par value" The amendment
also provides for the renewal Of the
existing certificates and the reduction
Of the State interest tax from "ten
cents on the hundred dollars valua-
tion, now provided for by the statutes,
to an annual tax not to exceed three
cents on the hundred dollars valua- |
tion." A three-cent levy will not be
necessary, as levy of q cents on the
hundred dollars valuation will be
ample, under the present asscssment,
to meet the annual interest on the
school certificates.
1t is not true, as alleged by reckless
Republican partisan newspapers and
speakers, that this amendment will
create perpetual debt" j most
earnestly favor the adoption of the
school fund amendment, but If by any |
reasonable construction it could be
held to authorize perpetual debt"
should oppose it. This debt, sacred
though it is, should be renewed in
such form that the people may have |
the opportunity to pay it at any time
they so desire. The amendment, to |
quote its exact language, simply pro-
vides that the Legislature ''may renew
the certificates of indebtedness as they
mature, for such perion of time and at
such rates Of interest as may be pro-
vided for by law"
Itfollows, therefore, that the school
fund amendment does not create a |
perpetual debit and it is not sub
mitted to validate" any alleged un-
constitutional action involved in the
issue of school certificates. 1t does,
however, continue in the discretion of
the people and Of the Legislature the
existing investment of school moneys
in our own securities, thus operating |
to reduce at once State taxation from
25 cents on the hundred dollars valua-
tion to not more than III cents on the |
hundred dollars valuation.
The consideration OF this question
should be freed from partisanship. The
educational interests OF the State are
too lofty and too sacred to be in
volved in the meshes of mere partisan
controversy. l have full faith that
the people, without regard to party
Affiliations, will continue the existing
system Of investing our school moneys
under which the educational interests
of Missouri have kept pace with the
wonderful development of all our pro-
ductive industries.
For thirty years our splendid educa-
tional system has grown, expanded
and developed nightly. We now
stand upon the Threshold of the
twentieth century. The hum of busy
and profitable industry is heard on
every hand. 1t is no time for a change
Of aggressive and progressive policies.
Missouri will take no backward step.
From Governor Dockery'S speech at
| California,