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About The independent. (Lincoln, Neb.) 1902-1907 | View Entire Issue (Dec. 4, 1902)
12 THE NEBRASKA INDEPENDENT, DECEMBER 4. 190iJ THE STATE DEBT tidJLt rj Wtoi' Export Show It Greater , Than When Hartley La I K ported The Independent is inclined to com pliment Auditor Weston upon his promptness in preparing his biennial j report or, more specifically, upon his wise choice of George Anthes as dep uty auditor, for it devolves upon the ' deputy to do the things for which his chief gets credit But The Independent cannot say 1 many complimentary things about the showing made. Neither can it look lack to the campaign just closed and recount the numerous lies which were told by republican candidates regard ing the financial condition and history of Nebraska, without a pessimistic feeling. That is to say, the old adage, . "Honesty is the best policy," must have been written by some "gezebu" ( who never mixed up in Nebraska poli tics. The floating indebtedness of Ne i braska is today $53,000 greater than it was six years ago. It is $417,000 greate rthan it was four years ago. And it is $241,000 greater than it was two years ago. Yet the republican governor-elect went before the people of Nebraska and told them that the fusionists had run the state in debt numerous thousands of dollars the amount varied at different places; and they turned around and elected him because he played the double-cross on the brewers and prohibitionists and drew support from both sides. The following shows the size of the floating debt at the close of biennial periods (which end November 30 of the even-numbered years) back far enough so the unbiased reader can see who fastened the floating debt up on the state, who made any reduction, and who again increased it: FLOATING DEBT OF NEBRASKA. Warrants Outstanding. November 30, 1886 $ 11,943.46 November 30, 1838 106,265.66 November 30, 1890 582,946.08 November 30, 1892 788,795.62 November 30, 1894 577,825.75 November 30, 1896 1,936,273.47 November 30, 1898 1.571,684.01 November 30, 100... 1,727,447.72 November 30, 1902 1,989,328.63 Correctly speaking there was no floating debt in 1886, because the treasurer had something like $22,000 of general funds on hand to meet the outstanding warrants when they were presented. None of them were reg istered and drawing interest. Ten years of republican administration saw the debt grow to almost two millions. Four years of fusion government re sulted in a decrease of nearly $209 000. And two years of the rule of the "redeemers" sees an increase of near ly $262,000. God only knows what two years of administration by the "rescuers" will show. The debt to- day is only $53,000 greater than it was after Bartley had looted the treasury but that is net; the republicans have swallowed up all the reduction made in four years of fusion government, and some besides. The Independent takes a little grim pleasure in quoting from the ready print side of the Wilber Republican of October 31, 1902, "boiler-plate" matter under a Lincoln date line, headed "A Splendid Record." "The fusionists expended the large amount appropriated by the legislature and at the close of their two years' term had unpaid bills outstanding amounting to the enormous sum of $149,000. . . . The republicans have made a saving to the taxpayers dur ing the last year and ten months of $189,000 and at this rate of saving the total saving for the two years will be more than $200,000. : . . The difference in favor of the republicans as compared with the fusionists, who owed $149,000 at the end of their term, is therefore $349,000." This is the same sort of slush that was made use of by the republican governor-elect in his campaign ,that the "redeemers" could save $200, 000 to the taxpayers and yet run the speeches. Very peculiar circumstance state in debt $262,000, while the fu sionists actually cut down the debt $209,000. yet increased it $149,000. Consistency is not one of the gems in the republican collection. The Independent has commented upon the "deficiency" matter fully in previous issues, but in this it ex pects to make an accounting of the floating debt in connection with de ficiency appropriations and see what the facts are. The legislature of 1901 appropriated $149,112.05 for so-called "deficiency" claims, and $33,623.92 for "miscellaneous claims not deficien cies.'' In both cases the consideration had passed before the appropriation was made, so practically there is no difference. Accordingly, $182,735.97 of warrants issued by the present auditor were for commodities and services rendered during the fusion administra tion, taking no account of the time be tween the time the republicans took charge and March 31, 1901. The leg islature of 1897 appropriated $114, 643.40 for deficiency and miscellaneous claims; and these were not a proper charge against the fusion 'administra tion, because they were incurred by the preceding republican officers. Now to our calculation: FUSION. Floating debt, Nov. 30, '96. $1,936,273.47 Add deficiency claims 114,643.40 Act'I debt to begin with. $2,050,916.87 Floating debt, Nov. 30, '00. 1,727,447.72 Apparent reduction $ 323,469.15 Deduct deficiency claims.. 182,735.97 Absolute reduction $ 140,733.18 In other words, after eliminating the question of deficiencies by charging them to the administrations where they properly belong, the four years of fusion administration resulted in a 'net reduction in the floating debt of over $140,000. Now let us see the republican account: REPUBLICAN. Floating debt. Nov 30. '00. $1,727,447.72 Add deficiency claims.... 182,735.97 Act'I debt to begin with. $1,910,183.69 Floating debt, Nov. 30, '02. 1,989,328.63 Apparent increase $ 79,144.94 Add dene, claims, about. 75,000.00 Absolute increase, about. $ 154,144.94 Auditor Weston estimates about $75,000 of d?uciencv claims tn trn hp- fore the next legislature, and The Inde pendent accepts his figures. Four years of business administra tion by fusion officials cut down the debt M0,000. Two years of "business" administration bv the "rfidpomprs" in creased it $154,000. Who can tell what win De the result at thp end nf two years "work" by the "rescuers"? School Fund Problem The management of the trust funds held by the state as an pnHnwmont for it3 public schools and educational institutions has for years constituted the most perplexina Droblem rnnfrnnt- ing the people of Nebraska. Up to mis iime every effort to deal with this subject in a rational manner has failed, notwithstanding the fart that tn tho temptation to use this money for pri vate speculation is traceable all the treasury scandals with which Nebras ka has been so grievously afflicted. While the chief obstacle unniiestirm- ably lies in the constitutional provi sions restricting school fund invest ments to a narrow list of securities, tnese limitations promise to prove more troublesome in the future even than in the past. The bonds the school moneys have been invested are gradually becoming payable and wnen tney are taken up by the coun ties issuing them the nrorperls mnt be added to the uninvested balance, swelling more and more the idle mon ey in the hands of the state trpnsnror To amend the constitution, granting mai is possiDie, will require not less than three years, and in the interval the conditions would te settinc rnn- stantly more aggravating unless meas ures or renet are introduced by the legislature or by the new treasurer on his own account. The Bee maintains now, as it has in the past, that there is nothing to pre vent the state treasurer from deposit ing the school fund balances together with the other moneys in his posses sion and crediting the interest earned to the school fund, the same as if it were paid on investments in state war rants. The present treasurer has his school funds on deposit in various banks, some of them without the pro tection of depository bond. This mon ey is earning interest which the treas urer asserts has all been turned into the treasury, but instead of being cred ited to the school fund the interest on the school fund deposits has been lumped in with the interest on cur rent funds and poured into the gen eral fund, out of which the ordinary expenses of the state government are paid. This amounts to a diversion of money belonging to the school fund into the general fund, which is certain ly as much a violation of the consti tution as is the deposi1. of the school funds in depository banks. If we must disregard constitutional provisions, which all admit cannot possibly be strictly observed, there is no reason whatever why the school funds should not bp managed from now on on lines of sound business prin ciples, without any more specious juggling to cover up notorious facts. Omaha Bee. The Bee has read into Treasurer Stnefr's assertions something The In dependent has never been able to see. Treasurer Stuefer has never said, or if he has The Independent has seen no mention of it in public prints, that the uninvested balances of the educational o o o o o o o The Holiday Spirit o prevails all through, the Big Clothing O Store. From the swellest suit and O overcoat down to the daintiest little O handkerchiefs. There are thousands of articles suitable for holiflriv nr-PSAntn J t - - Not only suitable but eminentlysuit-O able. Thev uossess beautv and Rtvlp. O J J sufficient for anv nresent and in addi-V tion have the qualities of service and wear that commend them to every in telligent shopper. We write this mes sage for the purpose of having you make a personal visit to this store. Should the. di 8ta.nrA bp tnr errant fVtan . . . u glVUV i on. vim juan uiuti uc mi tmcut iii;uiiL anvin ncr m rMntninrr nnn w jj furnishings that you may wish. & T There are splendid suits and overcoats that vy. . " ; r: j 1 l 7 I f i . v n i v.vuj VJ tXLLVA. TP L U JJ q T il. T.l 1 1 a. iu uie r urnisnmcs npnarrmpnts arp nn prolines gciAmnnf q holiday goods. Some idea of what this store offers may be gained k from the fact that in ladies' handkerchiefs alone we show values 1? . f from 5c up to $15.00. a. Armstrong's is wpstprn hparlnnnrtorB f VaIM o - " xj.viiuijr guuuo are both useful and beautiful. i V A A. si j - ' A Armstrong ciotHing to. i-zzi, iwd, ivvo, rz-n u &t., Lincoln, JNeb. trust funds are earning interest or tnat he has been turning such interest into the treasury. He has made state ments which would lead the uninit iated to believe that these uninvested funds are earning interest and that he is turning it into the treasury but he has not said so. None of the uninvested trust funds have "the protection of depository bonds," no matter where Treasurer Stuefer has them deposited. A deposi tory bond covers lawful deposits of state current funds; but a deposit of trust funds in any bank is unlawful, making both the treasurer and the banker alike embezzlers, and the de pository bond would not protect it in case the bank should fail. It is probable that the legislature might enact a law providing that the state treasurer may lawfully deposit the trust funds in banks for safe keep ing temporarily, and thus relieve him and the bank of the odium of being embezzlers whether they like it or not, and that the supreme court would not set the law aside for unconstitu tionality; but if it is attempted to specify in the law that a certain rate of interest must be paid on such de posits, or that an indemnifying bond must be given, it is doubtful if the law would stand. The principle that a deposit in bank is a loan to the bank, cannot be lightly set aside; and if it applies to the deposit of A it must apply to the deposit Of B. Refrigerator Cars The State Journal is a constant and persistent knocker against government ownership of any public service util ity, and is fulsome in its praise of in dividual effort in such lines. The Independent would ask the Jour nal if any municipal-owned street car line would be likely to run its cars up into the dead of winter, even into zero weather, without any attempt at heating them? During the cool weather it was re garded as a sort of joke that the Lincoln Traction company was run ning "refrigerator cars," but now, with the thermometer at zero, it ceases to be funny. Perhaps a company that can defy an ordinance to fix rates; that can spend thousands of dollars in putting a heat ing plant (God grant it can be con nected up with the company's refrig erators!), could defy any attempt to regulate its action as to heating its cars. The coal strike is even now being felt. Because of the high price of an thracite, the traction company is econ omizing by letting its passengers freeze. Rudge & Guenzel are giving away prize packages of hard coal with every purchase of a base burner. Won't some philanthropic citizen do nate one of these prize packages to the Lincoln Traction Co.? Do You Want a Ganuine Bargain Hundred of Upright Piano returned from reutinjc to bo disposed of at one. They Include Steinwryt, Knb, Pisrhen, Bterllngf and other well kbowa Eial. Kany eaaoot be di lingQidied from new nag am CJ 7' " r offered at a great ditcmnt. fT' Bji a Ksiwl UprijhU at low aa 100. Also bean- 9 EpK H 9 BvSj tiful New Up rlehtat. 125,1135, g 9. W& III t50nd tl65. A fin instrument at ti'JO, f ally equal to many ttOO pianos. Monthly payment accepted. Frei(ht only about $6. Write for lilt and partiectara. Yn make a great earing. Piano warranted a represented. Illustrated Piano (took Pre. lOO Adams St.. CHICAGO. World's largest music house; sell everything knowv in Knsi CURED BY NEW METHOD & safe and painless home treatment that has com pletely cured cases In from ten to twenty daystijat noted physicians refused to treat, declaring thorn fatal and hopeless. Snd name and address If tou are aeuff erer or If yon know of any one who is.and wa will send all necessary information and hundreds of convincing testimonials absolutely free. DEL CURRY CANCER CURE CO., Box 865 LEBANON. 0. Lincoln Hide Market Wu Ting Fang, former Chinese min ister to the United States, sailed for China from San Francisco on Novem- The Lincoln Hide & Fur Company, 920 R street, Lincoln, Nebraska, suc cessors to S. J. Dobson & Co., quote the following prices, f. o. b. Lincoln, until further notice: No. 1 green salted hides, per lb., 7 3-4c; No. 2, 6 3-4c; bulls and side branded, 6 3-4c; horse and mule hides, large, each, $2.35; small, 75c-$1.50; green sheep, pelts, each 40-75c; dry pelts. 5-8c per lb.; dry flint butchered hides, per lb., 12-13c; dry fallen, weather beaten and murrain hides .per lb., 5-10c. Our clas sified fur list, together with little booklet telling how to trap, skin, stretch and handle furs and hides to obtain the best r ults, will be mailed free to all upon request, also write for tags and general information any time. All correspondence promptly attend ed to.