The Montgomery tribune. (Montgomery City, Mo.) 1892-1910, 1907-11-22

DEFICIT IN STATE TREASURY INEVITABLE

. It has hash been many years since tn: treasury Of the state as short ;, OF of money honey.
men The revenues Of the state tor the biennial period covered by the appropr-
The de%l, isl likely to exceed d" a milton mGi on do oi%%" Tits big deficit Comes during
the most prosperous era in the history o Missouri
% 1s%ss,r rspT %s 10 mn, maxi. sa ,ns n Srs ts pns .a ,sr ama T WAR sa, m %s wns os ne ed
ed, perhaps because it ws thought good policy tr the Democrats to place the
Republican auditor and treasurer in an embarrassing position toward the insti-
tutons AM objects for which money was appropriated,
the appropriations the auditor has had a friendly suit instituted in thesupreme
appropriations oteer than those to which preference is given by III cons,itu-
available o pay these preferred appropriations, andto make all others wait TIL
the revenues become sufficient, If they ever do to pay them.
Under the provision Of the constitution relating to appropriations by tn
1 0S ,n,Srs., he IS ssvs a0s spe Sas 1 OBJ sS%s, is , (which , "o p pnvnon on % it be , mSac
deb the public les schools rsam. the e.. assessment ss. n. and collection lee %ott the revenues Ies, s the civil
and the pay Of the members and expenses f the esueralAssemOly. II the eve
Assembly to set aside money for other PURPOSES
for the seven purposes contemplated by the constitution, yet the Legislature
ations include charges sums for e normal school buildings for The ehemosynary
pro asass ST S" "s sSss d srt S iF j 5nSs"sn urR Exposition som SaS s s%sss p snse''' "'-
csodo Srs to mvsu unas en- @ sacrsS r m"ns wte m0 St "ss sou aa preparation @so TX
amounting in the aggregate to nearly 100000 were drawnon to meet the de-
pay current demands and to retire state bonds placing certificates Of indebted
and interest.oearins securities This coursewa vas lot legal-was not even moral
the citizens that the Democratic leaders were u OF the defensive, and fooled
the people into voting an amendment to the constitution making the transfer
active, win stand when % put to the test in the courts. The interest, o these
erunaates t Oh hae apenn 10 mount TO an mormon mo pm sum sum, annually. which
i provide sad a q by pp,op lat, y as Interest Int nemo c" nj public public .ha IN eeai di Gates
the public debt and that thu state has n o bonded indebtedness. The interest
thus paid comes out o the seneralr revenues an goes mt thu school and semi
nary funds which had always drawn interest from state and sovernment bonds.
r rnSss n GS%as s sSr ss cenvsry'd's SO as to free the money invested in 'A" for us cir"
Asthe millions sin these funds "a been exhausted through that scheme of
the Democratic leaders here is now n fund under charge of the Board o Fund
Commissioners witty which to take careo treasury deficits, IL the members OF
the board we're disposed to resort to such a doubtful scheme. The Republican
audhora and treasurer can only meet appropriations ron the current revenues.
These revenues proving insufficient, II treasury deficit s. inevitable. and must be
taken careo by the legislature in extra session. else the credit of the state will
missones not to issue certificates of indebtedness Dr. to convert any part of
the school and seminary funds into money t DC used to meet legislative appro-
priations, but to invests all moneys coming into those permanent funds sins Sc
cuhties IN whichth people do o pay the interest.
This extraordinary situation arises purely through the action o. IA majority
in the legislature elected by the Democrats o n u platform which boosted of
Democratic hnancienng, and which promised rigid economy and conservatism
in handling the finances Of the state. The Republicans are n nowse responsible
for the situation, the Republican auditor has to appeal tothe constitutional
provlonst to avoid personal responsibility. He must do what the legislature is
directed by the constitution ito o-muS curtait the expenditures 81 IS Il pro-
vide first Tor the appropriations authorizedb by the constitution, ant given pre-
ference overa III others. This he is determined to do and II not permitted tt
follow the constitution by the supreme court lie will pay the claims asf r as the
money go and let the Den ocrauc administration take care Of The results,