The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-12-30
about state Deposits.
N the Charleston Courier.

trying to produce an impression that
the State funds have been applied to
improper uses by the Auditor and
Treasurer. That paper affects to be-
ieve that there is some collusion be-
tween these officers and the Charles
ton Banks, by which both parties are
supposed to profit.
The sole fact upon which the editor
relies is that at recent date the sum
OF $llS,000 was on deposit in these
Charleston banks, while much less
sum was deposited in the Wheeling
banks, although the latter pay a larger
rate OF interest on State fuGds than the
former. The editor declares such q
transaction" to be "a suspicious cir
cumstance," and wants "a searching
examination into the relations between
the State Treasury Gnd the Charleston
banks"
We have reason TO believe that the
editor OF the LntelLigencer knows we'll
that "the examination" he pretends to
want will show nothing to the discredit
either O! our city banks or the State
officers; that both are willing to SUBJ
NIT to the fullest scrutiny. His desire
is simply to bring upon them the odium
o. dirty suspicion which he is ready
to hint, but unable to put in tangible
form. II the editor of the Mtslfgsncsr
has mastered the subject which he un-
dertakes to discuss he must be aware
that no State officer can handle or con"
troll one dollar OF Slate money In sec-
tons one and two, chapter XVII ofthe
Code, it is provided that all payments
into the treasury must be made into
the State repositories, rot to the AUDI
,tor or Treasurer, and that the person
laking the payment takes his certif-
ta,e Of the fact from the bank
t the Auditor and upon his
g.. ection receives from the Treas
..r:r the credits to which he is entitled.
ne question Of paying money into this
or that bank, is entirely at the discre-
ton OF the person making the payment,
and is usually determined by his con-
venience to a depository. So with dis
bursements. The party receiving mon.
ey from the treasury usually gets
check upon some convenient depository.
And as long as the bulk OF the appro-
priations are made for the benefit OF
the upper end OF the State, it would
seem probable that the Stale balances
in banks up there would not accumu
late. Local convenience as well
as the right of the case
Will require them to be
drawn upon TO pay the appropriations
OF which their neighboring institutions
get the benefit. On the other hand,
while the present policy lie pursued aud
no appropriations are made TO be spent
in the third district, the taxes collected
here will not be drawn upon, except or
money to be taken from here for some
institution in the upper end. This has
occurred repeatedly within the past lev
weeks.
And now about the interest question.
The Wheeling banks, in whose behalf
this clatter is raised, are rotoriouslY in
favor of getting all they can, and pay
ing as little for it as possible. 1t has
occurred during the present admins
tration that deposits in Wheeling have
go largely exceeded the security given
that transfers had to be made, as
matter OF precautior. For more than q
year after the deposit law passed, the
Wheeling banks paid no interest at all,
and the State officers then in power,
Republicans all, connived at the failure
Was their bargain any corruption in
that suspicious circumstance For
eight years prior to that term, they had
nearly all the deposits and paid no, one
dollar therefor. So rich was this
patronage then regarded, that the Fret
National Bank OF Wheeling subscribed
to certain fund to be used in a certain
way for the retention OF the Capital at
Wheeling, the sum OF $1,000, and other
banks in Wheeling subscribed in like
proportion. We do not remember that
the Iate!ligencsr ever had single OBJ
lection 10 urge, when the banks in its
vicinity had full monopoly OF State
funds, without any interest. The
present Board OF Public Works has
caused TO be paid into the treasury
more than twenty thousand dollars in
teres: on State deposits. The InlsiH7cn.
Ger, which never commended their pre-
decessora for failing to enforce the de-
posit law while Wheeling banks got
the benefit Of the failure, is now running
over with filthy .insinuations and CEN
d-e.
We have said that the State officers
have 20 control OF State money. We
mean that they can exercise no such
control iu accordance with Law. A Vi.
olatioo OF the law was never contem-
plated but once. That Was when Ste
venson, Bosgess and the rest Of the last
Radical crew OF State officers, obtained
in Washington charter for National
Bank, with the intention OF banking
upor State funds. They were defeated
for re- election before they got tleir
project under way, were compelled to
reliuquish their charter, and i! passed
into other and more respectable hands.
It is somewhat suggestive that the talk
OF mismaDsging State funds, which the
M!c!igcncer is now repeating, originated
with parties il this city, who were con-
uec,ed With the iisrepuiable scheme
that fell through when Stevenson was