The Mena weekly star., 1906-11-01

l 1OAitOliC Q OVEyOtDsNN bonds 9,0O0.00 per cent Fayetteville
 bonds coupons . 7,200.OO
 $2, ,237, ,748.69
 ''The county scrip, $3, ,73424, be- longs to various counties, and the city scrip, $4, to various cities in the state.
 The auditors certificates, $549.50, are simply notes of the state that the state has redeemed. These cer- 1 tificates should have been burned long ago. If Governor Davis were to borrow S549.50 from bank for one year and at the end of the year should pay the bank $549.50 and take up his note, he surely would not Try that cancelled debt as an asset.
 Governor Jones' notes, $103, ,915.95 are not cash or convertible funds; they are debt of the state. When the state needed money to settle with the Federal government the state borrowed $103, ,915. 95 from the swamp land and improvement funds and gave the notes of the governor. But these notes must be paid, and therefore the state taxes us all every year for the sinking fund to pay these notes.
 The 3 per cent funding bouds, S1 ,260, 800, are likewise a debt of the state and not leash or convertible funds" Being in dire need of money after inc passing of the Republican regime in 1874, the state took the permanent school fund arising from the sale of school lands and gave the school fund Arkansas bonds in return. But can Governor Davis maintain for a moment that the state does not now owe the school fund $1, ,250, 300 money which the state took from the school fund and spent? Can Governor Davis main tain for moment that the $1 ,250,- 800 of bonds in the school fund are convertible funds? ?" In what sense are these bonds convertible? If the state were to convert them into cash and spend the money the state would simply be robbing the school fund, for certain lands were given by the Federal government for school purposes, the lands were sold for money and the money thus raised the state borrowed, giving it's notes (bonds) in return. But hav- ing gotten the school children's money the state surely cannot also get the bonds she gave in return for that money. You remember, Gov ernor Davis, that when you went to Dallas you found Texas hard up; you found her treasury depleted. Now Texas has a school fund of mil lions of dollars, but the governor of Texas did not, when the state treas ury was depleted count this school fund as leash or convertible funds"
 "The 8 per cent funding bonds coupons, 1862, ,845, are the interest which the state must pay to the permanent school fund between now and the year 1929, when the $1, 250,- 500 of bonds owned by the school [ fund will mature. But if Governor Davis had given his note for $1, 1000 | at 6 per cent to Little Rock bank he would not count the interest, $60, which he would have to pay at | the end of the year as an asset; he would not count it as a liability | Then how can this $862rS45 of inter- est that the state owes on money borrowed from the school fund be counted as an asset, be counted as cash or convertible funds?' Of l course it is debt of the state, and | to pay that debt the people of Ar kansas are taxed every year.
 "The per cent Fayetteville bonds, $6,000, and the coupons on those bonds, S7.200, are the remains of the bonus the city of Fayetteville gave to secure the location of the University of Arkansas, and belong to the university.
 But the foregoing items are not all that must be subtracted from the total of more than $3,000, 900 of cash and convertible funds that Governor Davis maintained were in the treasury. For instance, on October l there was an item Tax Due Counties $9, ,337. 20 and Tax Due Cities, $527.29. These moneys belong to the counties and cities and not to the state.
 siamese Woman Dead in Washington.