The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1903-05-26
M,G. Foster of Eureka Co.,
Knew Nothing About the
Bond Exchange
HE DEMANDS A STATEMENT
Writes q Letter to the Silver
State Giving His Views
On the Matter
Eureka, Nevada, May 25.

Editor Silver State-A few days ago
my attention was called to the fact
that the state board of education had
exchanged 100000 in United States
per cent bonds for s500,O0 in 8 per
cent Massachusetts state bonds. To
say l was surprised is putting it
mild.
had arrived at the conclusion, after
the lobbyists and other "feelers" of
the pulse of not a small majority of
the members of both branches of the
legislature had ascertained that the
scheme was unpopular and would not
be sanctioned or endorsed by either
house, that the matter had been drop
ped But from the statements al
ready published 1t appears the state
board of education consummated the
deal nevertheless.
Although was not a member of the
assembly committee on education. my
colleague, Hon. J. P McElroy. was,
and after a meeting of the senate and
house committees on education. which
took place in the governors once,
had adjourned I asked Mr.. McElroy
what was the nature of the meeting.
He informed me that a scheme was
on foot to exchange United States
bonds owned by the Nevada state
school fund for Massachusetts state
bonds. He and l then discussed the
matter and neither of us favored the
exchange.
From the beginning l was opposed
to the whole transaction, and express
ed myself in like manner to number
of the members of both houses.
l never saw Mr.. Kelly, tie neg
ator of the Kansas City syndicate. i
had heard he was in Carson during
the time this bond exchange matter
was being considered; neither had
any member Of either body that l
talked with met him. I believe l
once remarked that II the proposition
was all right Mr.. Kelly should visit
the senate and assembly, explain the
matter to the members and show
them II the exchange was made how
the Nevada state school fund would
be benefited thereby.
This is a matter the taxpayers
throughout the state are directly in
terested in. and the state board OF
education should thoroughly explain
the details of the transaction. 1t Is
also the duty Of the taxpayers to hnd
out how the deal was made and by
what authority Of law the state board
Of education took 1t upon themselves
to consummate 1t.
The Nevada state board Of educa.-
ton is composed of representative
men, who are honored and respected
throughout the state, and they owe
1t to themselves and the taxpayers
OF Nevada to give the people OF TINS
commonwealth the facts of the case.
Now. Mr. Editor. it strikes me that
the most practical way to get more
light on this. at present. rather obs
cure subject would be for the gentle
men who were members of the senate
and house committees on education
at the late session to petition the state
board of education requesting that
body to publish officially in some
newspaper at the capital the details
regarding this bond exchange. AS
nearly all the newspapers in the state
exchange with those In Carson the
Official statement of the state educa-
uonal board would most likely be re-
printed In all the local newspapers Of