The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1858-04-26
EVANSVILLE, IND.
Chic sub.Treasury Law.

ohio Sub.Treasury Law.
The Legislature Of Ohis, at its recent
session passed an act providing for a
State Sub-Treasury, similar to that Of
the United States. The State Treas
urer's office, is made tho State Treasury,
and the County Treasurers are to be
6ub-Treasurers of the State. All public
moneys are to be kept in the State Treas
ury, and all loans and deposits in banks
are strictly prohibited. No moneys are
to DO paid or transferred from the State
Treasury, except as appropriated by
law, and upon the warrant of the Audit
or drawn On the Treasurer and counter
signed by the Comptroller. Quarterly
settlements are to be made by the State
Auditor and Comptroller with the Treas
urer, with full exhibit of the condition
of the Treasury, which is to be reported
to the Governor. A system of checks is
also provided for all the payments to and
disbursements from county Treasures;
and all receivers Of public funds, other
than the State and County Treasures, are
to deposit in the County Treasury or else
in the State Treasury. The State Treas
ury is to be inspected by legislative COM
mitees and the Auditor and Commits
sioners OF each county are directed to ex-
anime its Treasury once in three months.
Fraud and embezzlement are to be
punished by Imprisonment in the PEN
itentiary for not less than one, nor more
than twenty years, and by q fine OF
double the amount taken. A failure to
account for or pay over the public mon
ey, andthe books Of the State Audito rand
Comptroller, and the county Auditor, and
Commissioners to be taken as prima facia
evidence Of smbezzlement. An unau-
thorized use OF the public money in any
way, is to subject the offender to fine
not exceeding $500. The act provides
that after July, 1858, all sums Of $40 OIL
less paid from the treasury, shall be il
specie; after July, 1859, all sums les:
than $50; in 1860, all less than 500
after 1861, all less than 5000, and 81
till 1865, when all sums paid from The
State Treasury shall be in gold and sill
yer. W.
This is the first instance Of tho adop
ton by State of the national treasury
system. The heavy frauds practiced by
Breslin upon the State, have aroused
the people Of Ohio to sense of the ne
cesSity Of new guards and checks for thu
protection of the public funds. There, O
in this State, the treasurer has had tn
full control Of the public money, depos
iting it where he chose, or leaving it, o
using it in private speculations, as suites
his interest or convenience. The salar
OF the treasurer in both States are a
inadequate compensation for the dutie
and responsibilities Of the office, and j
both, the private use of the funds of tn
State has been the chief inducement I
accept or retain the office. A final SCI
Element Of the accounts of our treasur
will disclose some serious losses tha
have been incurred by the State in loan
to individuals, and by the purchase {
private bills Of exchange to effect th
necessary transfers of the public money!
If the system is found to work we'll i
Ohio-of which there can be no misgi,
ings-we hope to see o similar one in
susurated in this State. Tho paymer
ofspecic by the treasury, will involve th
necessity of collecting all taxes an
dues to the State in specie; but the pee
pie will cheeriully meet this requisite
to secure the soundness and safety Of ii
public deposits. In time the large tru,
funds now in possession of the bank wi
be brought nto the State treasury, whC
new guards for their security will be
manded. and some system like that
Ohio will be more necessary than
present.