The Farmington times and herald. (Farmington, St. Francois Co., Mo.) 1902-1905, 1903-01-15


priatiDns be brought within the limits OF
our estimated revenues.
Stnic Indebtedness.
The outstanding debt OF the state on
January |. lHl, consisted Of N,sN,10
three ana Cnc-half per cent. rctundinI
bonds aud &iGG, N3g.i2 school certificates OF
indebtedness Since January /, 1901, s.
Ub of additional certificates have been
Issued flV1 In favor OF the seminary
fund and sl.CIo added to the endowmen,
OF the school fund. This increase Of
school certificates has been offset by the
retirement of IN equal amount OF bonds
The bonded debt Of tho state has al
ready been reduced $4,000 during this
administration, the outstanding dsbt be-
Ing only 1lslOOO at this time. In addition
TO the reduction OF the principal of tn,
debt, bJ2 I5l,i2 has been applied to meet
the interest upon the bonded debt and
school certificates
The people OF this state are to be con-
graduated upon the Inspiring fact that
the last of the outstanding bonds VIII
very soon be paid. Thirty years ago Slas
Woudspn was inauEurated governor OF
Missouri At that time the bonded debt
was {gl 1Gs go the tax rate being nifty
cents ON the one hundred dollars vaiua-
tipn, Slowly, but certainly, this debt ana
interest has been liquidatcd, while the
tax rate has been reduced just onc-hnlf.
The final aud complete eKtinguishmeut OF
the bonded debt. to be contaminated and
announced AT an early date, will he the
occasion uf great rejoicing among the
taxpayers Of Missouri, In addition 10 the
payment Of the outstanding bonds, Mis-
souri has set apart sl0OOOoO from the
sinking fund to meet the requirements OF
the Worlds iair appropriation,
school Certificates.
The state certificates OF Indebtedness,
commonly known aa school certificates" "
now amount to A,Sgs,S3ii2 The school
fund amendment. recently adopted by the
people, requires the legislature 10 eN-
tend these certificates AZ they mature for
such npflnIN of time and nj Hlph rates
OF interest rs may he provided by law,
II also requires the Legislature, upon the
payment of the state bonded debt. to re-
duuc the rate uf state taxation to meet
the requirements of the public debt from
ten cents on the ono hundred dollars
valuation % not exceeding three centB on
the one hundred dollars valuation. That
is to say. with the cKtingulshmcnt OF the
bonded debit all the requirements Of the
constitution IN respect to the public debt
Will have been fully met when the legis-
lHture provides II sufficient amount anna.
ally 10 pay tn" interest upon the school
c'rtincutos which now constitute an en-
dowm"nt iuud for the benefit Of Missou.
ri.s nagniirrn, educational system,
The Interest charge upon the treasury
on account OF the school certificates VIII
amount, Ia round numbers, to f2jO,0oD an
nuully. lpOn the basis of the present nS'
F"-~mcnt Of the taxable property OF the
rtlt". u levy Of two and Onc-haif cents
on tn" one hundred dollars valuation VIII
hu ample 20 meet this liability However,
iuasmuch as "A fractional levy will lead
to annoyance and confusion recon-
mend that IN lieu Of the ten cents on the
one hundred dollars valuation heretofore
levied, q levy of three Ceuta on the ono
hundred dollars valuation be authorized
for the nsCul year Of 1903, and n levy of
two cents ON the one hundred dollars
valuation for the fiscal year OF l.Ji
The complete payment Of our outstand.
lug bonds together with the reduction Of
state iut"rrs, taxation, VIII constitute a
chapter IN our fiscal affairs most pleasing
tu every taxpayer. Such record speaks
Tor itself II needs no cncomium. II JUS
tlncs the wisdom nud the economy which
hnv" distinguished the management Of
our financial affairs during the last thirty
years. and "a % high tribute tn the hon
rSty and business snpaCity OF MissOurl's 4
officials both living aud dead
Now that Missouri Is soon to hc freed
from tn" restraint uf bonded obligations
It should b" our constant aim, by Tho
continuance uf liberal ana prOgrossv"
policies. 10 promote every Interest Of THIS
great commonwealth. aud keep II fully
In harmony with the advancement OF the
murycluus century In which wa live
white 1t g. true that much hna already
been HcUump'i he'd In IA" development OF
our resources. yet much remains to be
lone We have not yet fully measured
the extent ui our Cvcr-cxpnuding re-
sources. aud the zenith OF wealth and
power h,cknna us TO still greater con
quests We must continue to 40 forward
departments.
The departments Of Insurance, labor,
building ana loan, mines and mining, fac.
tory and beer inspection. ana the Office
of the adm'unt-gcncral which are
branches of the executive department,
are all In charge Of capable officials who
have faithfully performed their duties na
required by law. All Of these brances of
the state government are important, but
lnusmuch rs these officials will submit
reports shall not In detail review their
laburs.
The ingurance department has grown
In recent years to be n very important,
revenue producing branches OF the state
government. annually paying into the state
treasury several hundred thousand dol.
lars more than the cost OF Its mainte-
nance. The receipts from fees paid by In.
suranCc companies amounted to fS3, ,0jJ. 81
during the biennial period ending the first
of the present year. The Insurance de-
partment Is required annually to assess
against every insurance company not or
ganized under the laws OF Missouri Il tax
of two per cent upon all premiums col
lectcd In this state. During the last two
years sG2i u5S rs have been collected under
the provisions of this law. innsmuch as
number of insurance companies retired
from business IN the United States dur,
ing this period, II was feared that the
two per cent tax for the past two years
ury than for the two years preceding.
But 1t seems that this apprehension was
groundlcss. the Income during the last
two years being greater by Si0I, ,5il than
during the years 1889 aud 1900. The hnan.
cial exhibit of this department shows
that It has been faithfully and economic.
ally managed, and It's widely extended
business carefully administered.
state Institutious.
aissouri has twenty-une well equipped
institutions. fully the equals OF theii
kind In any state OF the union. Tho
State university, school of mines and
ma tutl thras normal 4Rhnnl1 In.
coin institute, four hospitals for the In.
sane, school for the deaf and dumb,
school for the blind, colony for the feeble.
minded and cpilcptic. confederate home,
federal home, reform school for boys In.
dustrial home for girls, state fair, fruit
experiment station, and our state pen'
tentiary are all under capable, economic
and humane infringement. The reports OF
the managers OF these various institutions
will be submitted to the Legislature and
I shall not therefore, weary you with
vOluminuus citations from such reports
affecting the scope and extent OF their
work
Missouri appropriated for the biennial
period just closed, nearly sD1,61 to CON
struct ANA equip buildings for state In.
stitutious. These appropriations were all
charge upon the state revenue fund.
except those for the buildings OF the State
university and the Rolla school of mines
which were paid out OF the collateral In.
hertHnce tax.
earnestly urge that provision be madu
for adequate insurance upon all state
buildings. But few OF these structures
carry sufficient Insurance. aud most of
them are wholly uninsured.
stnte uoards,
The state boards OF health, agriculture
pharmacy. dental examiners. embalming
barber examiners, fish commission. char
tiles and correction, geology and media
ton and arbitration are all actively and
efficiently at work In the various fields OF
labor assigned them by the laws under
which they were created.
Where all have done so well II Is per-
haps invldious to discriminate. And yet
| feel constrained to especially commend
to your favorable notice the achievements
Of this state board Of msdiation aad ar
bitraton. Since its establishment this
board has over and over again success
fully adjusted differences between en-
ployers and employees. With ability aud
tact 1t has discharged the important du-
ties committed to IL. However, the law
treating this board requires amendment
to make Il ATM more effective, and I be-
speak for this recommendation the earn
fst and thoughtful consideration of the
general assembly. Arbitration is the
FINAL SETTLEMENT.
Notice Is hereby given that the under,
girnad "a nor ,f fy,o aafat.. nf