302 THE FISCAL PROBLEM IN MISSOURI 
State Board of Health and educational institutions recom- 
mended by the State Survey Commission will be granted. 
It is generally recognized that the full state support of 
eleemosynary institutions is desirable. The proper care of 
the persons confined in such institutions is expensive, and the 
charge now made to the counties may have certain unde- 
sirable results, since under the present system patients may 
be kept in local institutions that do not have the proper 
facilities for their care. The state might consider the gradual 
elimination of the charge now made to the counties, but the 
revenue difficulties that are considered later seem to make it 
desirable to defer such a program for at least several years. 
The chief problem that concerns the state at the present time 
is how to obtain a minimum of additional revenue during the 
period when its tax system is undergoing several vital adjust- 
ments. The attempt to raise a large amount of additional 
revenue during such a period might increase greatly the dif- 
ficulties of effecting the changes. 
If it should be decided to limit the capital outlays to be 
financed by a bond issue to $23 million,! and that amount of 
bonds bearing a coupon rate of 425%, were issued so that the 
annual payments for debt service would be uniform throughout 
a period of twenty years, the annual requirement for debt 
service would be approximately $1,768,150. On the other 
hand, if the maximum were forty years, the annual require- 
ment for debt service would be slightly more than $1.25 
million. A total estimate of $3,829,900° for increased ex- 
penditures in the first year can be obtained by assuming that 
the twenty-year bond issue plan is feasible and that the bond 
financing at the outset can be limited to $23 million, and by 
including the following expenditures: $600,000 for state aid 
to public schools on the basis indicated, $944,400%for educa- 
tional institutions, $417,350° for the State Board of Health, 
and $100.000 for the State Tax Commission. v 
_ 1The State Survey Commission recommended expenditures for capital outlays 
and extraordinary repairs amounting to $22,740,600 for the first two biennial 
periods. 
2 If $40 million of bonds should be issued, the annual requirement would be 
$3,075,046. 
3 If $40 million of bonds should be issued, this figure would become $5,136,796. 
One half of the State Survey Commission figure for the first biennium. 
5 One half of the State Survey Commission figure for the first biennium.