The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1910-10-26
BUILDING
A STATE
WHAT WAS DONE, WY, AND
WHAT IT COSTS.

80 fftNAH'ei says AIaA NHE niNiF
credit ia so bad ihat the current es.
pense warrants OF the state do nor
bring the STATE one hundred cents on
he dollar and that there 10 funded
debts OF the state to the amount *
three million dollars.
say that the State OF Oklahoma
has never failed TO realize one hun.
dred cents on the dollar our of every
current expense warrant that the
state has ever issued. and that no
other state admitted to the union
since the year eighteen hundred sixty
(except Oklahoma) has ever kept its
state warrants at par through the first
three years or state government, and
In connection with this IL is fair for
the people 10 realize that maintaining
the state credit has been a difficult
job, requiring the most constant at
tention on the part or The Governor
and often requiring emphatic and Wig
Or0us action. ! believe that every
honest man, Democrat. Republican or
Socialist. will agree that the Cover
nor OF the state had the right to ex-
pect that every loyal citizen would
be patriotic enough 10 use every pos
sible effort TO aid the Governor IN
luhliAlHlHinE liiC tlcuil anu AOOu .udfhC
OF the state, and we are pleased 10
say that many Republicans az well as
Democrats have proven their good cit
izenship by assisting the Governor
on many such occasions, but we re-
gret TO say that Joe w. McNeal has
not proven himself worthy OF the
rank or good citizenship as the fol-
lowing instance will plainly show
State government was proclaimed
November sixteenth, nineteen hum
dred seven The legislature assem-
bled about two weeks later. The first
appropriation of money for stale pui-
poses Was made by the legislature a
couple OF days before the adjourn
meni for the Christmas and New
Years holidays. The state warrants
would be prepared under this appro-
piiation the following day and the
next day the warrants would be dis
tiibuted to the members OF the legis.
lature, state officers and others who
had served the State or furnished IL
supplies or material. About one hun
dred thousand dollars would be the
total amount Of the warrants issued
under that appropriation. Knowing
that in Territorial days the warrant
buyers combination had at times
driven the price Of warrants down as
low as sixfy-seven cents OH the dollar
| deemed IT my duty as Governor to
be watchful and use every effort TO
preserve The credit OF this state paper
at par value learned during the
day the warrants were being pre-
pared Tor issue that the Guthrie bank
eis had agreed among themselves that
none should pay over ninety-hye cents
Oh The dollar for these warrants
Immediately called one OF the bank
ers on the telephone and learned from
him that the report Was true, and
when asked for a meeting with all
the bankers ! was told that a com
mittee OF three had been selected
which would represent the bankers
on this question ! then had the COM
mittee invited TO my O&ce, and while
awaiting their arrival | called on the
State Treasurer and the Secretary
of the School Land Board TO furnish
me a statement OF how much public
building money and gtate school
money there was being kept ordinar
lily in each OF the three banks from
which the three members OF this
committee came. and having obtained
this information | awaited the arrival
of the committee which soon ap
peared and Joe w. McNeal came as
spokesman / stated TO him what
had learned as 10 the combination or
trust. or whatever they might call it,
agreement TO cut the state warrants
down to ninety-fve cents on the dol
lar. He said, yes, that is correct, aud
we see no reason why the Governor
should butt into this matter as Inc
Governor has no duty to perform ~
connection with the issue and sale ot
such state warrants. Why, said joe
! have lived In new states ever since
was boy and we always expect 10
make q profit out Of the warrants, IN
reply 10 which said to him these
state warrants bear six per cent in
terest and are good collateral lori
your banks to deposit to secure the
deposit OF other permanent state
funds ike public building money and
school money in your banks and upon
which deposits you only pay the state
three per cent said the difference
between six per cent on the state war
rants and the three per cent YOU nay
on these deposits Is q sufiicient rroht
for YOU McNeal again repeated, YOU
have no official duty 10 perform. Why
do you butt into these matters, to|
which | replied the Constitution of
Oklahoma makes it the duty Of fhe
Governor 10 see that all laws Of he
state are enforced and to conduct lie
business OF the state as business
man should to the best interest 81 the
taxpavers. Some further protest by
Joe w MeNeal so angered me that
thought the COW ersation might Just
as we'll terminate right then and
there. hence took the slip OF paper
showing their bank deposits aud said,
Mr.. MeNeal your bank Is favored by
the state with about one hundred
thirtyfour thousand dollars OF state
deposits. to another member OF the
committee, your bank is similarly "a
yored to the amount OF about slxty-six
thousand dollars TO the third mem
her. Yours about twenty-five thou
sand collars. and ~ your banks buy
state Warrants At > single penny's
discount will have avery dollar Of
state money you held drawn out With
In thirty minutes. Good day. sentie.
enen.v They left Being uncertain
as 10 what policy they might pursue,
~arua.to1 iarfauauf Govern Geo