Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1870-01-14

To the liquidation of these loans the
surplus funds in the Treasury could,
with great propriety, be applied. This
indebtedness is held in bonds bearing
interest; and it will readily be per-
ceived that this interest will be saved
to the State upon whatever amount Of
these bonds may be redeemed, aud the
State be saved from all risks of loss by
the accumulation of large amounts Of
surplus funds in the Treasury.
a few Illustrations will show the
beneficial workings of this plan. At
the termination Of the fiscal year end
ing November 80, 1868, there was an
uuexpended balance in the Treasury OF
81 ,0l2, ,9l5.3S. IL the suggestions here
tOfoie made had been carried out, by
the investment Of one million of dol
lars, at that time, in the five per cent.
/ bonds that will fall due July /, 1870,
and which I am credibly informed
could then have been purchased at
something less than their par value,
the interest on the same, from NoVem-
Der 30, 1868, to July !, 1869, would be
seventy-nine thousand, one hundred
and sixty seven dollars and siXty-seven
cents. which has been lost to the
! State. Again, on the Both OF No
vember, 1869, there was in the Treas
/ ury an unexpended balance of 81 ,4OO,-
1 S62.49. If one million, four hundred
/ thousand dollars Of this sum had been
! invested in the same kind Of bonds at
I par, on the 1st day of December, 1869,
I the interest for the seven remaining
months, ending July 1, 1870, would be
i $40, 1885, but which, in consequence
! Of non-coHfOrmity TO this plan. will be
/ lost to the Commonwealth. / cannot
reiterate too strongly my recommend
atiOns on this subject, and would,
therefore. recommend that a law be
passed making it the duty Of the Com
! missioners of the Sinking Fund to in
vest all surplus funds as rapidly asthey
accrue in the Treasury, in the pug-
chase Of the bonds of the Common
wealth next falling due.
l beg, once more, tOremind the Leg
/ islature that the salary of the State
Treasurer should at least be equal to
that of the Governor. 1t is only seven
teen hundred dollars, a sum entirely
insufficient 10 command the services oi
any responsible man, who Is required
to furnish a bond with good and APP
/ proved sureties, for eighty thousand
dollars, and TO run the risk Of hand
! ling at least five or six million of dol
lars per aunum, without the uniawfu
use of the State funds, and subsidie;
from sources that dare not be revealed
to the public because they are posi-
lively prohibited by law, under penal
ties of no ordinary magnitude. Yet
there are but few men who have held
this Office, however poor they may have
been when they took charge OF il, who
] ri. fnlpra 90 .1.r
tainly some advantages to be gained
by the holding of the position of State
! Treasurer, unknown to the public, bu
which readily accounts for the disgrac
full scramble, and for the political anG
moral debauchery which the people O
this State seem 10 be doomed annually
to witness, in the election of that officer
and because of the disgrace it bring
upon their representatives, the peopli
, hang their heads in indignation an,
shame. Then, in the name of the goOt
people of Pennsylvania, / call upoi
the members of the Legislature, with
out distinction of party, to rise abov
the Eourkyness of the polluted atmOs
phere of the past, to the true dignit.
of manhood and exalted patriotism
and purify the election of Treasurer
we'll rs that of every other officer wit
! in this Common wealth, and punish ey
cry one who tampers with the purit
of elections, whatever may be his pos
tionor pretensions. And then every on
: who shall have performed his who'll
/ duty to sustain the true interests Of tn
State aud to maintain the high dign
~ OF her character, may return unpo
; luted and with clear conscience
) his eOnstituen s. who will receive hir
Z with open arms, and with the joyfl
exclamation of well done good an
faithful servant"
Liberal appropriations are made Al
J nually to our penitentiaries, lunatie
i sylr ms, ond other charitable and bel