Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1859-01-12

actual rrc-ipts aud of expenditures tnappIUIri-
atiOns. will restrain. the former, legislative. aud
the lalt r, administrative extrayaglnee. These
in my Judgment. are the essentials OF good f.
naneial systrm.
Und,r such a system the custody of the public
revenue would involve far less hazard than here
tnfU'e. Still. under any system. while eOllrc-
tI"ns ON taxes for all purposes. State and To-
cal, cannut he expected spUn tO fall below four
millions and may exceed as in 1854 and in the
present year four milli M aud halt semi annu-
ally. of which Il mnIrty will I br required for
dishurs, mrut until sumetime afer collection and
Il portion will remain for six months or more.
the point Of custody will remain Que of great
inI Ustanee
The safe keeping of he public money. there
for {. property engaged large shure of the at
trntIo~ Your immediate predecessors. as we'll
us of your own. Th- chic essential point OF diff
terence between the mudrs adopted Seems to be
that the latter. while requiring ample securities
| from deIuSilarIes fur payment ON demand, dId
not Contemplate the withdrawal of the moneys
dep slte'l tom the transactions O busin' IS. un-
| tIl wanted Iur puhlc purposes, while the latter
| sr-ms To intend the aciual kerping at all public
nOn,ys in the hands oi State and County rra-
surrrs until required for dishu s. ent in dis
charge OF puhllc obligations. Ii the safety "f
4 the pu 'lic mIn, ys Is equrly Insured by either
/
erencr; for money IS machinery, whose w rk is
exchange AMI it Is Obvious that the wi hdra wal
irnn u>e of consil,rIoe sums tor considerable
pero,ls must III some measure interrupt and I'm
4 banlss tie Operations q business But sairty
/ is the paramuunt consideration, and no mode of
| eustody IS aimissli,le which does not secure it
rs fer rs 1t can he secured in any mo.le.
| In Il lUrnrr eoulmu- Icatinn | thought it nv
duty r,c"rnnIrnd Ia your consideration plan
/ FIR the safe Keeping and disbursement ut the
puhlIc m'nrys, which seemed to me to combine
security with convenience That plan faIled to
| commend itself to your approval; hut yuu did
not omit to establish 10y la~' a system Of rrguia-
/ tiuns intended tn umI.lish the same general
| purpose. Few assures fulfil perfectly The 'is-
/ signs of their authors; and son= dele, "a have
/ becuine APPARENT in the Iraciirai wOiA AIng- 0I
| the aet'of last session 10 winch | think pIOIei
4 t, dir, ct yuuI attention
Thraci rs.i: was doubtless designed to me,
porlte into the administrative system al OiiIo.
the le.ldng provisions If federal legislation on
the sam- subj ct. Thsra ar. hnwrvrr, among
Other differences brtwe-n the Federal Systrm and
that which has been thus inaugurated in ourown
| State. two Of which seem to me osT' cially wur-
thy ct CONSIDERATION. Under the Federal laws
all uffic,rs having custody Of public m"n-y are
apl oInted by the F. deral Guvrrnmrnt. and are
r-guIr d, from time to time. TO give such bonds
| wHh Slch eurlties the Federal auihurIIirs
nlay r,t;uire. Under the aet of last session the
County Trasur rs Throughout the Si ate are made
| driusitarIrs ui the State as well as th- County
/ r-yrnurs: of the reyruu, 5 derived frUm small
tolls and other sources well as thuse derived
fiUm iaxnt OIL hey arr also constituted agents
of the Stat-. under the law. Yet these officers
are not aIuointed 10y the State Gov mm nj: ART
not rtquire tO give h'n'ls tu the Satisfaction of
any State otfic, r: State officer IL authorized
| t. ascertain the suticIency OF the huhds actual
| " given, or 10 pquire. In proper cases. new
bou,is or additional SECURITIES The whole mat
t-r of these bombs is 1t where former laws I,la-
crd t. under the supervision Of Cuun ' Curnns-
sioners and it may we'll lie doubted whether the
conditions of those heretofore given apply iO all
the iutes required by the recent treasury law
This is n matter which deserves. and will. |
luui.t not receive your attention. While you
wall probably think it lst To adhere to the plan
of constituting the County Treasures State de-
pusittrirs. rather than rycur to the plan, which
srerns to me preferable. of dir, eting the sslee-
tim of ,lrTositaries 10y the State Treasurer. vou
cannot fail to apl rcialr the Importance Of thruw
ing ar.und th.. public drIpsIts. in whatever
hands all practicable guards aud s,curii's
| The other IuInt OF dIiFrr-ne- between tine Fe,l-
eral and Stat- systems which seems to me- most
mp rtant isthis: The Federal system Irescril es
thr mrdinm in which Payments may be made
into ,h. Treasury II iIr. els that ii sucb Iray-
r,..,,s sl,,iI Ls n,5a in s,nJ or s,Iver ar Tr.s.
60. .,-- s,,,nti,,,, ,,,,v;s;,r ,, ali in
ST.. Ia,,,sIs,in, mia r ouife sub novrn.nt in
/ Iii or s,I,.r ar ,h,. nui.. ,f sD.c,, n,vir,,
-, ,rr,n;z, I aud r.,,,,I,tsJ L,, S,,,l l,ws
/ The act of last session makes Dr VISION in
I,I,n t ih,. very matt r and bv lbe
umss on. ssms virtually tD require the receipt.
! TAR tax and "ihrr State dues Of whatever may
-. ,,..,.n,..,,,s .r- nd Sr.b L.s un,i.r-
s,.rJ be.n in ,,rt ,I,,. g,n,r,I If not nniv.rs,I
ar ,b. NC. -, ,b. Cunt, T,css.,.
90. onJ ,,,b,.r r,uI,I,,. of;...r,
| ~ -, ,,,.,,,,I ,L ,,,, f;Is ,A,lI,, Of =, IN,
-. /, IT,, H.. Tr.os,.y,.rs q, r.,.;y. o,,3
,,j.- :, ,J,.. Tr,sy,,a,, b,,. .,.,u.IIv r,.,,v.I
-, r,.,r.,r,i,n of ,y,. ,,x. in tL,. ro,.s Of
-, 80 > - ,f 81 S,at.s !, b., ,L,,,
.',,r,'I ,I ,.;,,I,,; ,y,,Li, ,,,,
:, s,,rr.,. snl,;. q, i, ~, -Te, D, ~ a
- -; - IL >, n, -,
III ,bsn ;r,I,r,,, .
"s ~, .is,'i,,,''r. -, IN, -, :
~ l " 3, Tr'.a-,,r; 4, =.
Of 80. ~ th..
81, -, oil ,.L -. =. ,rI ,I,,,. >,
| a. ,,..,t ,e o. r..,..,,,i. N f,-s;or bsnts and
'"e eN''TO ~ " y r - So a..
H. I TIE treasures "",S "ee" u" 'sni uei 0St'A
| rIes OF the public funds Instead OF Increasing g
80 s.cutitv IL has thus increased the insecurity
/ 5 -,
VI S"S" ny /.
| L respectfully recommend the correction oi
/ these defects. IL it shall be Dc cided that The
| C,un,, Tr..surar. abaiI b. enntiuurd IA d.nosi-
| -, = 4 -, g H.. ~. - g. -,
IrleS ahd agents loF toe u""SieI Va S'A'e iN'e-
| nurs, they should be subj et~d ut least IN RS
It.,t to these funds To the sup rVisiOn of State
g., ,,1 r.c,,;r,.i ~, AZ; ,r,,,la bonds IN ba
| en-
delOslleu Win the o'ate iIc"eUENE' iN' TIC fe'-
/ turmance at these duties Nor IS II less lnpor-
| t,nt that the medium in which taxes may be
81 T. .;.I H., ,.s,,;,,a I,,sI.,;, A
PN"' oe 's1e''ai" " Po''
i;Uvision requiring such payments 10 Oe uade
| il cuIn or sVrcir notes of our own Banks would,
Il, NJ, ,,,,;,,,,n ha a,f, us-luI and n,, inenn-
" - r. -, - -. g.. -. al. =,
VvhiehI IL ""u'u pe e"'e' iVt es'iy uoiia' D"
the Treasury. would either lie specie or the equiv
aI,nt of sreie mad silch nat merely bv the
. -, :, r. R,I ;.s,,;,,, :, Ln, H., tb .,,,,.
e'5 y, e 80 - ~ -
amy OF AL the Dranches OF the otate Dahk' OF
bV State and FetIt raj Stocks IN the actual Gus
toIv r.ud r.d aIso utriv seeur. by vuur iudi
80 I.i.,;, 80 a., So .,;...r,. !, ,.,,,Il
e"uS FS'Sia'""' VI ,"e N' ''
be useful, Tor lt wonld IroIiote souhu elreuia-