The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1904-09-07
W. ULd1L'
So reads the Platform.

So reads the Platform.
One Kelly, sometimes hailing from
Boston. at other times from Kansas City.
and then from New York. made his ap-
pearanoe In Carson duiing the last ses-
sion of the legislature. Soon thereafter
thorizing the State Board of Education
to swap the Uni. ed States bonds held IN
the state treasury and belonging to the
state school fund, for Massachusetts
bonds. Some opposition BEND made by
some members of the legislative COM
mittee having the matter under consid-
Grafton, the proposed legislation was
abandoned. and it was discovered by the
legislative lobbyists that a legislative
Board of Education to swap U. s. bonds
bearing 4 per cent interest for Massa-
chusetts bonds bearing 3 per cent inter-
est. After the addition, division and
silence Nevada syndicate had hood
winked the board as to the market val
ne of our u. S. As and Massachusetts, Is,
the ubiquitous Kelly, seemingly a gen.
tleman of leisure. ostensibly the owner
of the Massachusetts bonded indebted
ness and presumably in Carson simply
for his health, was called in, and a deal
consummated as follows: Hundreds OF
thousands of United Sta es bonds, calie
United States As, were exchanged fc
Massachusetts bonds. called Massachu-
sets IS.
At that time u. S. As were selling at a
great demand while Massachusetts 81
were selling at par and the demand was
Light.
Mr.. Kelly in the trade got our u. 5.
bonds. allowing 10 per cent premium in
stead of 11b; our school fund got Massa-
chuse,ts IS, a premium OF 8 per cent be-
ing allowed, when they were only at
par in the market and are now 8 per
cent below par.
4hC "a PSA (Nhh Oh WV - ~ oNANf
or $500. and the 8 per cent premium oil
Massachusetts bonds. or SIS, 900, gave Mr..
Kelly the little sum of So. 500 with which
to purchase Carter $ little liver pills for
his health.
But his is not all. The Z. S. bonds
had four years to run on which the
school fur would draw as interest $780,
600 IL the bonds had remained in our
state treasury. In the same length ut
time our school fund will uraw only &c.,
000 interest on the Massachusetts, bonds,
making another graft of $4,000 at the ex-
pense of the fund set apart under the
constitution for the benefit of the pub,ic
schools.
1t seems that the sum total of si2,5O o
has been diverted from our state schooi
through the gross ignorance on the par
of some of our state officials. or theii
eckless criminality.
And yet. the Democratic platform
reads: I'VE congratulate the people OF
Nevada upon the impartial and able ao-
ministration of Governor John Sparks.
and upon the faithful and efficient per-
Torrance of duty by every Fusion state
official"
Perhaps Sam Davis. the state. control
Ter. whose peculiar duty is to guard the
state treasury and James Sweeney. the
attorney general. whose special duty is
to prosecute grafters. or Gov. Sparks,
whose highest official duty is to execute
the law. can by vigorous work and with
a determination to let no guilty man es-
cape. recover this money for the scnoo.
fund. We are advised that the BONA
deal was made without authority of law
and that there will be music in the next
session Of the legislature. in opera and
rag time. with respect thereto.
JAMES A. YERINGTON no OREI