The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1920-06-25


"He's the Governor who saved Mis-
souri, from bankruptcy through pro-
viding a plan to pay the big state
debt, and he did it without materially
increasing the taxation burden of the
people,"
Hundreds of Republicans with the
best welfare of Missouri upermonst
in their thoughts and not partisan
enough to disparage and refuse to ap-
preciate big coup for the common
good, unite with Democrats in prais-
ing Gov Gardner for saving the cred
it and reputation of the common
wealth when the outlook was so dark
and gloomy that no one thought the
deed possible.
Saved the Fair Name of Missouri
The achievements of Gov. Gardner
since he was inaugurated Missouri's
Chief Executive on January 8, 1917,
are many and the larger ones will
long be remembered as strokes in pub
lie affairs which established nation
wide progressive and otherwise en-
viable record for the state. But the
real coup d 'etat, the one which will
always be referred to with pride by
Missourians of future generations,
was the payment of $2,300,0OO the
state owed to many small creditors
when the State Treasury was empty
and there was no visible means IN
sight to meet this huge obligation.
The debt was there and the amount
was continually increasing in proper
. -
rated. He was elected Governor in
November, 1916, on solemn promise
to the people that he would introduce
modern business methods into the
management of executive and finan-
cial affairs of Missouri and not seek
further political honors at the expira-
ton of his term. The day after he
took his oath of office he started the
reform program he had carefully
drafted. The creditors Of Missouri
were informed through the public
! press that every dollar due would be
paid within thirty days. On his word
of honor that means would be pTovid-
ed through legislative acts to pay back
the loan with interest, Gov. Gardner
who, in private life, is leading st
Louis manufacturer, borrowed the bic
sum needed, without further security
from the banks of that Mississippi
river metropolis and turned the gold
into the State Treasury. Creditor af'
ter creditor presented his claim, was
paid the amount due, and went his
way fully satisfied, with words Of
praise for the state official who hat
performed the miracle.
First Million Repaid the Banks in 1911
The next big move in this financia
game, larger in proportion than th'
first one, was to devise the means b.
which the st. Louis banks were to b'
: fully reimbursed. Day after day il
February of 1917 Gov. Gardner con
suited with leading members of thu
Forty-ninth General Assembly, plan
ing, drafting and furthering the meas
ures which were to increase the state'
, revenue without making the addition
al taxation burden which could no
,, safely and easily be carried. The tasl
T was finally accomplished. The emer
! gency clause was attached to som
of the new laws and therethrougl
, they went into effect Immediately at
ter receiving the signature of ap
proval of Missouri's Governor. Ono
:. more real money began flowing int
! the State Treasury and in a strear
!, steady, fast and large enough to eS
! ceed the drain at the other end. b
! the close of 1917 the first million dol
:, lars of the debt of $2,300,000 whic
. had been piling up year after yea
since 1907, was paid. The close of tn
second year of the Gardner admins
tration saw the entire amount paid an
: Missouri once more clear OF indebted
4 ness. But the stream of gold whic
Gov. Gardner had started, continue
to flow into the state Golfers unabat
ed. June /, 1920, saw balance
the State Treasury of $11,000,00
: with all regular accounts up to tn
l. close of the day before paid in full
s A special session of the legislator
e has become necessary to stop the il
II flow of money through repealin
s some of the revenue-producing law
: The call will be issued for an earl
d day in August, not long after til
o state primary. 1t is planned then a
II so to enact measure which will a
IS low tne sIate W use the eAioCihB gu
q plus in the treasury to redeem r,
v manning capitol building bonds to tt
' amount Of 81 100000, some of whit
If are not due for seven years, and say
q further interest totaling about 5000
i. 900. AS these obligations only NJ
If three per cent interest, it is thougl
" the holders will cheerfully turn the
d in to get the amount due in gold az
A. re-invest it in higher interest-bearir