The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1910-10-26
BUILDING
A STATE
WHAT WAS DONE, why, AND
WHAT lT COATS.
cHAPrER b
stats ctsalt ana STATE pspt. }


credit is 40 bad that tho current ex'
pcnse warrants OF the state do not
bring the state Quo hundred cents on
she dollar and that there Ia funded
debts of the atate to the amount of
three million dollars. NAa w'
l.say that the State OF Oklahoma
has never, failed to realize one huns
drcd centa ON tho dollar out OF every
current expense warrant that the
state has ever issued. and that no
other state admitted % the union
since the year eighteen hundred sixty
(exocpt Oklahoma) has ever kept its
state warrants at par through the hrst
three years of state government, and
In connection with this Y is fair for
tho people to realize that maintaining
the state credit has been a difiicult
Job. requiring the moet constant at
tentlon on the part Of the Governor
and often requiring emphatic and Wig
orous action. ! behave that every
honest man, Democrat, Republican or
Hociaiist. will agree that the Cover.
nor OF the state had the right to ex.
pect that every loyal citizen would
be patriotic enough TO use every pos
aible effort TO aiu the Governor in
maintaining the credit and good aAme
OF the state. and we are pleased to
sAy that many Republicans Al we'll a.
Democrats have proven their good cit
ixsnship by assisting ths Governor
on many such occasions, but we re-
gret to say that Joe w. MoNsal has
not proven himself worthy OF the
rank Of good citisenship - tbs fol.
lowing instance will plainly show:
State government was proclaimed
November sixteenth. ninsteen hun
dred seven. The legislaturs Assem-
bled about two weeks later. The nrst
appropriation OF money for state pur-
poses was made by the logislature n
couple Of days before the adjourn
ment for the Christmas and New
Years holidays. The state warrants
would be prepared under this appro'
priation the following day and the
next day the warrants would be dis
tribuied to the members of the legis'
lature. state officers and others who
had served the aats or furnished II
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 hmei
driven the price offwarrants down "
low as slxtyseven cents on the dollal
l deemed Il my duty as Governor a
be watchful and use eyerv effort 4
preserve the credit of this b,Ate papel
at par value. learned during th'
day the warrants were being pre-
pared for issue that the Guthrie bank
ers had agreed among thembelyes tina
none should pay over ninety-nve cent
on tho dollar for these warrants
Immediately called one Of the, hani
ers on the telephone and learned, fron
him that the report was true. an
when | asked for q meeting With q
n the bankers ! was told that a con
I mittee OF three had been selecie'
\ which would represent the banker
on this question ! then had the con
mlttee invited to my ONCE. and Will
u awaiting their arrival 4 cailsd on IN
gtats Treasurer and the 6eorntar
OF the School Land Board 10 fuSnia
me statement Of how much publ
building money and state scho<
, money there was being kept ordina
| lly IN each Of the three hanks fFoI
! which the three members n TIL
committees came, and having obtaine
! this Information ! awaited the asrivI
, OF the committee which soon Al
pesred and Joe w. MckeaIl came Z
/ spokeaman. 1 stated 70 him what
/ had learned as to the combination
4 trust. or whatever thoy might call
+ agreement 10 cut the state warran
l down TO ninetysavs cents on IN" DC
, inr. He sald. yes. that - correct ar
! We see no reason why tho Goyern'
3 should butt into this matter ~ Il
4 Governor has no duty 10 perform
. connection with the issue and sale
!. such state warrants. Why. said 10
|. I have lived In new states ever SIM
!, I was a boy and we always expect
make A profit out OF the warrants,
Z reply TO which ! said to him the
state warrants bear SIX per cent
terest and are good collateral
II your banks TO deposit TO secure 4
deposit OF other permanent sta
funds like public building money 81
school money In your banks and up
! which deposits you only pay the sta
, three per cent ! said the diferen
between elk per cent on the state WI
rants ana the three per cent you p
d on these deposits is . aufiicient FRO
n for you. McNeal again rspested. y
e have no ofiioial duty to perform, "
y do you butt into these matters,
, which 1 replied the Constitution
Oklahoma makes II the duty "
]. (,overnor 10 see that all laws Of |
q state arc enforced and to conduct 4
,e bne,ness OF the state - . abnsin'
N man should to the bes, interest ~ !
Ia taxpayers. Some further protes.
"A Joe w. MeNeal so angered me tha
7. thought the conversation might ]
= a we'll terminate right then
y there, shsursI took the alp of pa
y showing their bank deposits and q
d Mr.. NcNeai, your bank h favored
~ the state with about ono hund
o. thlrty.four Thousand dollars of at
l. 4 dSposits: 10 another nlsmber of
n / con,uittse, your bank Il similarly
~ yored to the amount Of about sixty
>. thousand dollars; TO the third m
~ bpr yours About .twenty-fwo n
lg ssnd dollars, and "lf yauri harksi
~ -sksts sswssranSs stAia lsiDs's IpffS'
to dlscount I Will have every dollar
ID state monsy you hsId drawn out "
he In thirty .minutss. Qood day. ~
rnsn.r They left. Being uncer