The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1858-04-28
The Sub-TreaSury Law.

VIC suu-tTedSuTy INV tndt IL WOuiu iuetI
with no opposition from the Republican
party, or that it would at first view strike
every Democrat as being entirely unob-
1t makes radical change in the method
of safe keeping and disbursing the public
and nowadays every innovation
upon the old fashioned way of doing busi-
ness is looked upon with suspicion. Its
defects, whether real or imaginary, are
exaggerated by ignorant and designing
men.
The sub-treasury law of the federal
government had to 60 through severe
ordeal, but it came out triumphant. 1t
was rdiculed without mercy by the Wings
upon its first passage, and was repealed
by them when it had been in operation
but a few months. 1t was re-enacted
shortly afterwards by the Democrats, and
since it has been fairly tested no member
of Congress has had the hardihood to
propose its repeal. The same law with
the exception of the specie paying pro-
vision is passed for this State so far as it
is applicable, and there is no doubt but
when thoroughly tested it will be as uni
versally acquiesced in.
It provides that the public money shall
be kept in the public treasury until paid
out in pursuance of law. Under the old
system one-half of the money belonging
to the State treasury never reached the
city of Columbus. County treasurers
were authorized to deposit it in some con-
venient bank or brokers Office, where it
was allowed to remain until drawn out for
use. If the bank did not blow up, or the
broker did not close doors, the money was
not lost.
But the chief objection to the old sys-
tenn was, that under it State treasurer
loaned the money of the State to bankers
brokers, or others, getting for it hand.
some interest which he put in his own
pocket. If these bankers, brokers, or
others for any reason failed to pay the
money over when called for, the experience
of our State is, that the loss fell upon the
taxpayers. Within the last five years the
people of Ohio have lost near one million
of dollars by this system OF loaning.
When Mr.. Bliss, the predecessor of Bres.
lin, was treasurer, he caused the State TO
lose over two hundred thousand dollars in
this way Breslin aud Gibson between
| them caused loss to the State of about
seven hundred and City thousand dollars
This alone is more money than would be
required for the entire expenses of the
State government for year. There is nc
doubt that if the present sub-treasury
law had been in operation during the las
five years the whole of this money woult
have been saved.
The law creates a comptroller Of th'
treasury whose duty it is to make diligen
inuuirv after all claims in favor of tn
State and require prompt payment l
is furthermore his duty to keep strict ac
80 ko ,,Is
Of State, and to sign all warrants for tn
payment of money out of the treasury
Thus making the fullest provision 70
accuracy in the accounts of the treasury
and leaving nothing undone for the safet
of the peoples money.
Another, and one of the most commen
dable features of the law is the provisio
which it makes for examinations into Stat
and county treasures. Besides the reg
ular examinations to be made every thre
months, the Probate Judge is authorize
, to appoint an accountant to examine tn
county treasury, and the Governor to ar
point an accountant to examine the Stat
treasury whenever it may be thought ne
cessary. In neither case is the treasure
to have any notice or intimation Of tn
appointment of such accountant. Th
treasurer dare not suffer any of the pub
, lie money Go be out of his possession a sin
gle day, for he knows not what hour tn
accountant may appear to examine hi
t books and count the public money.
: the full amount Of money be cot found, Q
if the treasurer refuse to permit the &C
countant to do his duty, it is prima faci
evidence of embezzlement, which is pun
ishable by Imprisonment in the peniten
: tiary.
If with all these guards around tn
peoples money, and these penalties fo
unlawfully usirg it, it shall not be safe
then we may well despair of the compe
Itency of laws for its protection.
An attempt is made by the Republica