The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1911-02-09
Tax For New Missouri State House
viii Cost the City over TWO
Millions Of
Dollars.
$4,000, 900 AMOUNT NEEDED
II City is to Pay Half of the Expense
it Would Like to Get The
Capitol Removed
There.

Under the provisions of the bill which
will be introduced in the legislature
today, appropriating s5,oO0.00O for
new state capitol. the taxpayers of st
Louis will be compelled to pay s2,221,
342, or nearly half the amount needed
to build the statehouse
The measure provides bond issue
of s5,000,000, to draw az per cent in
terest. Under the emergency clause
of the constitution authorizing the
legislature to make this bond issue.
! the taxpayers are required to redeem
these bonds within thirteen years.
| The act merely permits the legislature
to authorize loan for the erection or
capitol, and the redemption of the
/ money can be made only by increasing
the taxes of every citizen of Missouri.
The present taxation is II cents on
8 the 500 valuation. In order to redeem
the $5,000,000, with the interest the
bonds will draw, an increase of cents
on the 500 valuation will be neces-
sary, making the total tax assessment
i 20 cents,
The taxes paid into the state treas
ury by the city of ST. Louis for the
year 1910 totaled s571,141,570. The
amount paid by the state was $1,639,-
ASSESS. The increase the capitol
bond issue will saddle upon st. Louis
will be $171,334.35 each year for thir-
teen years. or s2,2a7 ,SA2 for that per-
iod over the amount II now pays The
increase for the state as d whole viii
!. he $401. .S46.65 annually, or s6,393,99S
for thirteen years. IN addition to pay
ing. s5,000,000 for the capitol build
ing. the state will pay $1,S9S.99S in
interest, for which it will get moth
II ing but the privilege OF making the
: loau.
Those members Of the legislature
. who are in favor of permitting the var
ious cities to bid for the capitol and
awarding it to the place that makes
the best offer. say it would be treason
to the people to compel them to pay
the necessary increase in taxes If it
can be avoided The sentiment
against hastv action in building new
l capitol is growing RAPIDLY, and every
member OF the legislature is receiving
, communications daily from his con
stituents urging him to make haste
slowly
As St ouis is going 10 be the losel
d whether it donates the money te
build the capitol or not the members
OF the legislature from, Missouri
metropolis are eager for the business
men TO act Many legislators believe
should ST Louis subscribe now TIE
additional taxation win impose on tllt
city. the statehouse would be erected
:. within the borders of that munlcipa'
I ity. Others believe ST Louis woui'
have 10 donate the fun amount neces
sarv to build the capitol.
No other city in the state is s.
I'd vitally Interested in the erection
a statehouse as is st Louis. becaus
none is to pay the fiddler SO lnuc
regardless of where the building is
be erected and by what means.
ST Louis were to subscribe s5,OOo,0o
10 land the prize, it would pay sma
amount more than double the sum
j. viii be required to hand out if tn
~ capitol is erected in Jefferson City,
;. whether ii goes to some other city.
-, If ii We're possible to rake the a
=, nropriation out Of the state funds Wit
out saddlng $4,000 i'll interest on q
~ taxpayers, there is no doubt the yo
on ers would approve it without prote
But the fact that The taxpayers Al
!, going to be compelled 10 donate $
393.9eS as interest, is going to eau
a. t-tt