Herald of the times. [volume] (Newport, R.I.) 1849-1856, 1851-11-27
a Deficiency SOsnewherc.'

Ilc ltlc NtllcIul ho NV"
est and upright man as ever breaihed
tie air of Rhode Island, found. on the
final settlement Of his accounts from Tie
immediate sapeginendencc oil which.
severe illness had Ter several months
disqualified him, that The sum Of 5000
WAS IN bis hands, above lhaI, which, by
his books appeared to he due to the
State. He had been unable from the
condition of his health after lie discov,-
~ of this error 10 make thorough eX.
animation within the remaining term Vi
his office, and the books and papers oi
the Treasury passed out OF his hands
with the error undetected. Like the
honest man that he was, he communica-
ted the facts 10 the General Assembly,
frankly stating the discrepancy III Ills
accounts, and surrendered the surplus
$1,000 with the other moneys belonging
10 the State. A feeble attempt WAS
made by some OF the more rapid of the
( Democratic party, 10 assaiI the repuia-
ton OF the General Treasurer OIL this
account; but the balance was not on
the right side Tor the success of tina.
game, and those who had lived in the
State long enough 10 understand the
public feeling, were not long III d!scov-
crlng that 10 make the people OF Rhode
Island doubt the inie! rlry Of Stephen
Cahoonc, would be desperate under
/ taking. and that the only persons who
would be- likely TO be injured by that
operation, would be the men who should
attempt II.
But 1t was necessary to do something;
and, accordingly, the Senate, acting
sepdy Gieiy upon a matter which was
communicated to the General Assembly,
appointed committee TO examine into
the expenditures since lS4l, TO inquire
into the surplus for which The late Trea.
surer had been unable to account, and
to report upon amy other matter IN
connection with the Treasury Of the
State, which may be deemed important
10 he communicated 10 the Legislature"
Although the House was not invited TO
participate in the inquiry, the improprl
ely OF the separate action OF the Senate,
is admitted by the instruction OF the
committee 10 report 10 the Legislature"
The mover of the resolution should have
written General Assembly" but we
believe Legislature" is the term in New
York. This committee appointed
Democratic lawyer in Newport 10 make
/ the investigation, and 10 draw up the
report, ana left the affair mainly in his
hands. His report was presented at
! the Octohef session of the General As
/ scmbly, heralded by terrible surmises
and mysterious whlsperings, WI ich fl
: Iaily took the shape OF IA deialchtlon oil
$4,000, detected by Democratic vigi-
lance"
We have examined this report. Ii
commences by narrating the provision
made by the General Assembly for the
establishment and increase of the per-
manent schoo, fund. This was TO be
accomplished by an original appropria-
ton OF S5000 and by adding thereto
certain revenues, derived from lotteries,
auctions, and the dividends on the mo-
neys previously invested. But from
time to time, the necessities OF the State
invaded this law, which had no greater
b nding force than any other act oi the
GeLeral Assembly, and which was con-
stanlly repealed or suspended by the
acts which were repeatedly passed at
subsequent sessions, directing the mo-
nry IN the Treasury 10 be paid out for
other purposes. 1t is settled principle,
that you cannot cat your cake and have
it too, and when the General Assembly
passed accounts which took every dol
lar in the Treasury, ard not only this
but directed the Treasurer TO borrow
more. from time 10 time, to meet the d.-
mands which they continually made ur-
=, ell, lln N h.a
could not invest The money which the
General Assembly did not permit TO re-
main in his hands. This process went
on ulder all administrations, Wing and
Democratic, and amounted 10 nothing
more than q practical refusal to levy
tax--ior there was no other mode oi ac-
complishing ito maintain the increase
of the school fund at the rate Of prog
ress originally proposed. The whole
amount which the school fund would
have received, if the plan had been car.
ried out, and the property oi the State
had been taxed accordingly, would be
according TO the report ol the coamlitee
S62. is7 go greater than IL now is
(This is not precisely correct, hccotuihg
TO the committees own showing, u. We
shall presently see. The exact dill'r-
encc, ii the writer oi'the report has made
no other blunder than the one TO wNich
we shall presently refer, is $50, $50 '6.)
1t is not pretended that single dollar
has been Incorporated, that Il single
dollar has been paid, except by due
course oil law, and by order of The Gen
eral Assembly; IT is not denied that the
flies OF the Treasury exhibit the proper
vouchers tor the whole it is crly stated
that the school fund is not 50 great tie 1t
would have been II the General Assem-
bly, had adjCd 10 it the sum originally
, intended. To constitute lts annual mere
: meni. And THE famous report may be
summed mp ,hus--that the school fund
is 10, 50 great by the exact sum OF So2,-
4S7 96, as it would be If 1t we're SS2,-
4S7 50 greater than II is.
As a specimen of the deep sagacity
aud the business capacity manifested ~
this report, we copy the following table
winch exhibits the investment oi tie
/ permanent school fund:
4 RECAPirULATioN.
] Mechanics Dant, 81 sh., cost ss,oss 81
i vi " ASIA 90
\ 100 &" i,AoO 90