Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1864-01-22

OF ordinary revenue In tne treasury nO'
needed for ordinary expenses, and the Audi
tor and Treasurer, upon consultation with me-
d eide to apply the ordinary revenue to the
payment of the War and Defense Fund War
rants, so far as it could be done without in.
terfering with the payment Of ordinary reve-
nue. warrants as presented. This was done
to the amount Of $4,000, and thereby a
considerable amount in interest vas saved to
the State. As some doubt exists as to the
strict legality of this course, the matter is
laid before you that you my take such action
as may be necessary. Ii the amount due
rom the United States could be recovere it
would, probably, be sufficient to reimburse
the revenue fund and redeem all outstanding
warrants and claims on the War and Defense
Fund. la.gs B..
In my Judgment, all real estate should be
carried on the tax books in the name Of the
true owners; and this result can be effected
with very little labor and expense, by requir-
ing the Treasurers to furnish the Assessors
with complete lists Of the names Of all real
estate owners, a. shown by the last tax book !;
to correct the names enormously entered,
whenever such error is shown upon the pay
ment Of taxes, and by requiring all deeds to
be presented to the Treasurer for the transfer
of the real estate therein described to the
new owner, before the same can be recorded.
I recommend the enactment of o law for
receiving the new national currency, and a
modification of the present law for receiv-
ing the notes of branches of the State Bank,
that both may be available in payment Of
taxes. As the law now stands the notes
of said branches cannot, legally, be received
after any cne of them shall have suspended
specie payment. 4 change of the law SO as
to authorize the receipt Of these notes, SO
long as they shall be redeemed in legal tender
notes of the United States, would, in my
judgment be wise and proper. s'
I cannot leave this subject without special
mention of the Board of Auditing Commits
sioners. l am well satisfied, that, to their
faithful and impartial discharge of their du-
ties, the State is largely indebted for its pro-
lection against improper claims, and, conse-
THE SCHOOL AND UNIVERSITY FUNDS.
| The situation of these funds demands your
earnest attention. You are their guardians
and custodians. Upon their management
depends, to great degree, the edacationa
interests of the State and upon the proper
education of our youth depends the welfare
and safety of our Government.
| l cannot approve the system by which
these funds are now managed The princi-
pal, received by the State in cash, has been
distributed among the counties, to be loaned
one time by the School Fund Commissioners,
at another by the County Judges, and now
by the County Clerk, subject to a limited
control by the Board Of Supervisors. Would
any of you, having a large amount Of money
to lend, lend it through those agencies? II
not, is it right to do so with the public mon
ey? Is it not right and proper that you
should do, in regard to these funds, just what
you would were they your own property p
The present system is, in my judgment, q
bad one, for two reasons. In the first place
it must happen in many cases that the Coun
ty Clerk is not fitted, by previous business
training, to make safe and judicious invest.
ments especially, he may not have the nee.
essary legal knowledge to enable him to
determine, accurately, the sufficiency of the
title to real estate offered as security for 9
loan. In the second place, the money may
be used to promote personal or political OBJ
ljects. A corrupt Clerk will use, and an hon
est but weak one, will be sorely tempted tc
use his power to lend these moneys to secure
his own political interest or that of his party
friends. The system, in my opinion, is
wrong in theory, and that it is unsafe in prac
tice is clearly shown by the large amount o.
insuficiently secured principal and delinquent
interest. l therefore earnestly recommend
that the lending of any portion of the princi
pal of said fucds, as heretofore, be prohibited
and the enactment of law that will reqair,
the investment, by the Treasurer of State, o
} such primo pal, as the same may be paid in
in stocks of the United States, or of thi'
State. -.
In this connection 1 request your specia
attention to the Report of the Auditor o
State on this subject.
SCHOOL AND UNIVERSITY LANDS.
: The School Lands consist of the five hun
dred thousand acres grant, and the Six
teenth Section. Large quantities of thes
Lands have, Fl ON time to time, been sold BY
county officers, authorized by law to maxi
such sales. These sales have been generally
, made upon time, the purchaser paying il
hand portion of the purchase money, ant
, taking 3 contract emitting him to paten
! from the State upon the payment of the bal
ance with annual interest. Many of thes
+ sales were made at high prices, before tn
r monetary revulsion of 1857, and many of tn
purchasers have, since that revulsion, failet
. to pay either principal or interest. Portion
of the lands have thus become fortified to tn
f State for non-payment Of purchase money
, and have been re-sold to other parties. Blu
, there is no sufficient provision Of law requir
, ing such forfeitures and re.sales to be report
: ed TO any State officer, and the result is tha
l it is now impossible to ascertain, from an,
record at the Capitol, the number Of acres 0
/. the particular description of the several par
|, GELS of the School Lands yet unsold.
i This condition of affairs should not be per
mitted to continue, and / recommend tn
/ enactment of such laws as will remove th
\ difficulty.
The Saline Lands and Funds are now "
s part of the Permanent FUND.- of the st t
d University. call your attention to that par
/ Of the Report Of the Register of the Stat
a Land Office, which shows the necessity "a
e further legislation in regard to the issuanc
# of certificates Of full payment for the porto
;. of these lands already sold, and recommen
Il that the Treasurer Of the University be al
d thorized to issue such certificates, and tbs
d the power to sell the unsold portion of th
Q lands be vested in the Trustees.
III In may cases School Lands were sold, prit
j. to 1857, at such high prices that, after thu
% date, they were not worth the amour
Q due on them. The purchasers have ceased
J. pay either principal or interest woul
d therefore suggest the inquiry, whetht
d it would not be well to provide for the SUI
e render Of these lands to the State, the pul
,, chaser being relieved from further liability
le by forfeiting payments already made, withol
:. resort to legal proceedings. -;
10 I call your particular attention to the fu
It and able report Of the Register Of the Sta
. Land Office. It contains much valuable il
% formation touching the various land gran
.. made to the State, and suggests several poin
le upon which further legislation is needed