

K \NSAS, 



Bonds issued in March, 1888, to the amount of 

 $880,000, and - i *'.'-. "'" 



$150,000 of the issu. 



paid from the general-revenue fund. The State 

 debt at the beginning of the year was $6> 



$50,000 of the - t was |aid ami 



$150,000 r 



October H was announced that thegeneral- 

 revenue fund was exhaust^!, and warrants were re- 

 ! mark.^1 "unpaid for want of funds" for 

 theli ti fifteen yean. The deficit is ex- 



plain- fat-Is that I In- tax levy has bo. 



duoed by* ra-h Ix u ""it the valuations 



decreased down to 18M. that the counties are 

 $367,000 behind on their dues to the State, and 

 that bonds to the amount of $50,000 have been 

 taken up ! ii ring the rear. 



,. aggregate valuan ropertv of all 



:* toSSd from IS* to 1807 by *4,024,285. 



JOHJC w. LKEDT, OOVKRNOB or KANSAS. 



Education. The school population, as reported 

 this year, is 493,820. The apportionment in August 

 gave 48 cents per capita. A circular issued by t In 

 Superintendent in November says : "The gr. 

 injustice is in the present method of school taxa- 

 tion. The reports show that 883 districts levy less 

 than 6 mills for school purposes, 3,679 dis 

 levy from 6 to 10 mills, 2,777 districts levy from 

 11 mill*. 546 districts levy from 16 to 19 



mill*, while 879 districts lew the full 'JO mills 

 allowed by law. bonds can only be voted 



to build a scboolhoitse." 



i t rouble and loss have arisen through the 

 investment of x-hool funds in county and munici- 

 pal bonds. Some of these were bought in violation 

 of the law, which forbid* t ho buying of txmds from 

 corporations whose indebtedness exceeds 10 per 

 cent. valuations. Others were bought 



at a time when the debt of the corporations was 

 less than 10 ] ; but later, other bonds have 



been issued until the amount has become excessive 

 and interest payments upon all the issues have been 



The School Fund Commissioners bought bonds 

 this year issued by Graham County. The State 



Treasurer refused to register them and pay for 

 then.. here the bonds were (lei- 



brought suit to compel him to do so. Tin 

 preme Court declared that the sale was invalid, but 

 did i: on the same ground that 



rea>urcr had taken. 



' the county lioards of education made 



niCto for Schoolbdoks before (he Hew la 



uniformity of tr\t -books and a State text-book 

 commission came into operation ; but th< 

 i hat the new boards which came ii 

 ns were not bound by those < The 



validity of the te\t-l k law wa- assjid.-d. a; 



injunction applied for; but the court upheld tin- 

 law and dissolved the restraining order. 

 There was some trouble with the text-lxx 



civil government adopted for the schools. 



mtendent found in it "iai.-in.-n! - \\lm-li In- 

 deemed at war with true principles of finance. 

 The book defined greenbacks as promises to pay 

 money. The-e. it recite*, circulated from I" 1 



without being redeemed by the (iovernment . 

 and were consequently at a discount N'-w that 

 they an- redeemed in gold and silver they ai 

 good as money. The Superintendent ordered t his 

 and other sentences omitted, and the followii 



: in its place: Tin- p. il m-y 



conferred upon Congress by the Con>titutio: 

 rics with it the power to select the monetary mate- 

 rial upon which to coin or stamp the seal of A 



eignty. Money, strictly speaking, ifl not a material 



thing. It is u functicm or quality created by law, 

 and it may be attached to any appropriate material 

 by the sovereign authority.' When the nioi 

 quality has been attached" to the cho-eii material 

 that material becomes tangible money. Various 

 valuable commodities have been used as in 

 but have not been entirely satisfactory, on account 

 of their weight and bulk. "and because of their great 

 fluctuations in value and frequent scarcity. A 

 proper monetary material should (1) be cheap and 

 easily procured, so that society may at all times 

 be able to supply itself with money :"(:i) easily con- 

 cealed, that its possession and transportation 

 not be ditlicult and ha/ardou* : <:{) it >hc.uld be 

 convenient to handle and count in large and small 

 amounts; (4) the tangible money should be well 

 executed and dillicult to counterfeit, otherwise the 

 counterfeiters will inflate its value to the point of 

 worthlesMn-ss. as in the case of American conti- 

 nental currency, the French assignats, and the 

 currency of Argentina. Most of the great paper- 

 money inflations of history have been In counter- 

 !eitei>and ^peculators, anil not by the legislation 

 of responsible governments. In order to maintain 

 the monetary value of paper notes, they should be 

 able in* the revenues of the issuing govern- 

 ment, and lawful money in all payments; and the 

 volume must bi- restricted in reasonable proportion 

 to the annual public revenues. The volume of 

 Mich paper money does not depend upon th. 

 dents of Nature nor the exigencies of conn 

 but it may be definitely controlled bylaw, in ac- 

 cordance with the publ'ic interest and general wel- 



The State Normal School, at Emnoria, graduated 

 a class of over 100 at its thirty-third commence- 

 ment, in June. 



The enrollment at the State University in < ><to- 

 b.-r was 1,000; a class of 150 was graduated in 

 June. The department of electrical engineering 

 has a four years' con r 



Kansas has 15 denominational colleges, and the 

 number of students attending them this year 

 ages 200. 



The thirtieth commencement of the Agricultural 

 College, at Manhattan, was held June 6, and 55 were 



