The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-08-20

all right, but if hard times shoulds strike
Comanche county the chances are that
they would have to be compromised.
There are bonds now held by the school,
fund that are not worth the paper they
are written on. Others have been COM
promised by throwing off thousands oi
dollars of accumulated interest and the
ISSUANCE OF new bonds bearing as low
as two per cent interest. There is a
strong elemen of speculation in buy
ing bonds of that character, and it is
against public policy to purchase bonds
for public funds which are not abso-
llutely safe. Public funds are generally
left uninvested rather than let them
out on speculation.
In buying bonds of this character it
would also seem hat the commission
: would take into consideration the past
delinquencies of Comanche county. A
part of the school district bonds of that
county are held in the state school
fund. The school districts owed a total
of $29,432, according to the last publish
ed report of the state auditor, and the
same report shows that the permanent
school fund held s12. $50 of those bonds
which were delinquent, and the univer-
sity fund had another 81, 900 of the same
kind of bonds delinquent. The exam
ination which showed that Delinquency
was made on August 4, 1902. That is
the latest record to which the State
Journal has access.
Has the State Redress?
There is a possibility that the
dCllOII VI tic OOllo COMMISSIONER
in carrying out the conspiracy by
which the school fund is looted. may
be declared invalid. They may posi-
bly, not have raised the valuation of
Comanche county quite high enough
For instance: Mr. odard con-
tract with the county by which he re-
ceives his Commission" calls for So
900 cash and the balance in INSTALL
ments of 50. 600 each, as near as the
State Journal has been able to n
out. Comanche county therefore owes
at least $4,000 to Mr.. GODDARD. or his
assigns, if the deal was valid In that
case this $4,000 should be added to
the $156.000 bonded indebtedness of
the county to find the total indebted
ness. This would make a total of
$~162,000. and this is considerably in
excess of Is per cent of $1s041s771, the
amount to which the state board of
equalization arbitrarily raised the as
sessed of Comanche county
To make good" the board should
have raised the assessment to at least
$1,0S0,0 900.
It would look as though Governor
Bailey should now have the state ac-
countant find out all the facts in con-
nection with this deal, and then try
to find some sort of way to make the
co~nspirators undo the deal it
is illegal. 1t is quite possible that the
state accountant may know something
about it.
Whether the governor has any pow
e III lAC llldLICA ID q -
might instruct Attorney General Cole
man to proceed in the matter, but as
Mr.. Coleman appear to be in the con-
spiracy such action would be a farce.
1t would also be a farce to go to Mr..
Coleman for legal advice
The state board of valuation would
undoubtedly have been justified in
raising the assessed valuation of Co
manche county Is or 20 per cent, but
the tremendous raise which was given
it, amounting to nearly 100 per cent,
seems to have been solely for the pur-
pose of getting through this bond deal.
1t was given a big raise last ear,
along with many other counties, and
this furnished an Reuse for the in
crease this year. The average raise
this year was only about one-third
what it was last year, however. while
Comanche count boosted more than
last year. The net raise in the entire
state last veal vas about $25,00O.000
and only about 100000 this year.
Last year Comanch county was
raised S4O3.O13; this year $4O9,21S.