The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1859-01-12
cure it as far as it can be secured in any


mode.
In a former communication thought
it my duty to recommend to your consid-
Grafton plan for the safe keeping and
of the public moneys, which
seemed to me to combine security with
convenience. That plan failed to COM
mend itself to your approval; but you
did not omit to establish by law q
system of regulations, intended to accom-
plish the same general purpose. Few
measures fulfil perfectly the designs of
their authors; and some defects have be-
come apparent in the practical workings
of the act of last session to which think
proper to direct your attention.
The act itself was doubtless designed
to incorporate into the administrative
system of Ohio, the leading provisions
of federal legislation on the same subject.
There are, however, among other differ
ences between the Federal system and
that which has been thus inaugurated in
our own State, two which seem to me
especially worthy Of consideration Un-
der the Federal laws all officers having
custody of public money are appointed by
the Federal Government, and are reuuir-
ed, from time to time to give such bonds,
with such securities as the Federal au
thorities' may require. Under the act
of last session the County Treasurers
throughout the State are made deposit
| ta ries of the State as well as the County
revenues; of the revenues derived from
canal tolls and other sources as we'll as
those derived from taxation. They are
also constituted agents for the transfer
of public funds and fiscal agents of the
State, under the law. Yet these officers
are not appointed by the State Govern
ment; are not required to give bonds to
the satisfaction Of any State officer; no
State officer is authorized to ascertain
the sufficiency of the bonds actually Civ
en-, or to require, in proper cases, new
bonds or additional securities. The
whole matter of these bonds is left where
former laws placed it, under the snpervis-
ion of County Commissioners, ond it NAV
well be doubted whether the conditions
of those heretofore given apply to oil the
dnties required by the recent treasury
law
This is matter which deserves, ant
will, doubt not, receive your attention
While you will probably think it best tc
adhere to the plan of constituting tht
County Treasurers State depositaries
rather than recur to the plan, whicl
seems to ne preferable, of directing tn,
selection of depcsitaries by the Stat,
Treasurer, you cannot fail to appreciate
the Importance Of throwing around th
public deposits, in whatever hands, q!
practicable guards and securities.
The other point of difference betweel
the Federal and State systems whicl
: seems to me most important in this:-
+ The Federal system prescribes the me
| dunn in which payments may be mad
into the Treasury. 1t directs that al
q such payments shall be made in gold o
q silver or Treasury notes A correspond
h ing provision in State Legislation
a would require such payment in gold o
;. silver, or the notes of specie payin
!. banks organized and regulated by Stat
A laws The act Of last session makes n
e provision in rslation to this very import
It ant matter; and, by the omission, seem
g virtually to require the receipt, for take
IS and other State dues, of whatever ma
$ be current as money in the several loca
. tiles where payments are made. Sue
!. has, I understand, been in fact the ger
% eral il not universal construction of th
n act by the County Treesurers and othe
Il public officers.
Ie Thus construed; the act fails wholly
.e its iutent. 1t allows the Treasurers I
II receive, and under it the Treasurers hay
is actually received, large proportion
l. the taxes in the notes of numerous banl
,r of other States. II has thus virtual
= encouraged the circulation within OF
S. limits of currency subject in no respct
to the control of our legislation, and, ,
Of this extent, has promoted deterioratio
in rather than improvement of the circula
L. ing medium The paper thus paid I'M
,e the different Treasures is, at best, on
le Representative of money in the po
al session of the banks which issue is; ar
D. thus, to the extent of it's reception, 70
l. eign banks and not the Treasurers ha,
<. been the real repositories of the publ
re funds. Iustead of increasing the securi
D. it has thus increased the insecurity
of custody.
IS respectfully recommend the correctit
er of these defects. If it shall be decid
es that the, County Treasurers shall be co
OF tinIed as depositaries and agents for t
H. transfer of State revenues, they shoold
in subjected, at least in respect to these funt
llf to the supervision of State officers. oil
OF required to give ample bonds, to be depo
e. tied with the State Treasurer. for the pc
i'll formance of these duties. Nor is it lc
Mt important that the medium in which ia
e. es may be paid. be aseeriained by positi
y, legislation. Aprovision requiring such p
re ments to be made in coin or specie payi
G. notes of our own Banks would, in my OPT
ne lion, be safe, usefu, and not inconvenier