The Butler weekly times. (Butler, Mo.) 1881-1918, 1906-03-29

WVcStou--ncpuul HuW
State Officers, voted to Issue
Certificates Of Indebtedness
While Serving In the State
Legislature Journal Tell Tale
GIobe- Democrat and other Re.
publican Papers now SIander.
ing Members Of Their Own
Party.
From LaGrange Indicator.
A dispatch sent from Topeka,
Kansas, stated that 1t had just been
discovered that the Kansas state
school fund had been "looted" TO
the extent of 100000. The dispatch
further stated the "looting" was due
to the removal OF coupons from
bonds owned by the state school
fund. 1t appears that the Kansas
state schoolfund isinvested in bonds
OF some kind instead OF being invest.
ed in Certificates of indebtedness
as Missouri's school fund is invested.
This calls to mind the fact that
just now We hear considerable said
by number Of republican newspa-
pers throughout Missouri regarding
our "looted schooliund," "and worth
less certificates OF indebtedness.
The leader in this discussion, II
such 1t may be termed, Is the Globe
Democrat, and 1t is followed by q
number of lesser lights. 1t is not
supposed that any OF these papers
wouldintentionally publish anything
which would reflect upon the bust.
ness judgment or integrity OF state
officials belonging to their politica |
faith; but since the charges made by
those papers Of a ''looted school
fund" and worthless certificates OF
indebtedness" do reflect upon some
OF our state officials, and no papers
throughout the state 80 far having
shown courage sufficient to come to
their defense, the writer will endeav.
or in his feeble way 10 say a few
words In defense Of the public actions
OF these distinguished republicans.
First let US examine Missouri g
Certificates OF Indebtedness" often
spoken OF by these newspapers as
being worthless" Last year the
children OF this state received the
benefit of about one-quarter million
dollars expended for educational
purposes, which was derived from in
terest paid on our Certificates OF
indebtedness >" These certificates
draw five and six per cent interest,
whereas had the school fund been
invested In government bonds as is
the case probably in Kansas, the
children OF Missouri would have re.
ceived the benefit of not more than
two-fi'ths the amount paid from the
schooliund. Furthermore Mlssouri's
Certificates OF Indebtedness" are
worthless in one way, and in this the
state has the advantage OF Kansas
In the investment OF her school fund.
MissOuri's school fund is invested In
non-negotiable, non. transferable cer-
tifcates, and the interest is payable
only to the Public School Commis.
sion; consequently, should these GER.
tifcates be stolen they would be
worthless" to the holder. Had
Kansas school fund been invested
In. this kind OF securities It would
have been impossible to have "loot.
ed" It Of that 100000.
The above should vindicate such
republications as Hon. John E.
Swanger, now Secretary Of State,
Hon. Jacob F. Gmelich, now State
Treasurer, Ex.StAte Senator Seaber, 4
now Commissioner of Permanens
Seat Of Government, Major John LII
Bittinger, who has at various time
ably represented Buchanan Count y
In the legislature, and who was dur.
ing McKinlsy's administration
American Consul to Montreal, DR.. |
Tubbs, who has for almost q quar-
ter century represented Usage Coun-
tym ths lower house Of our General
'4pgsmbly, DR.. A. G. 'Petsiiohn, III
q @lngulshed rsprsssntstlys f0f |
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