The Carbon advocate. [volume] (Lehighton, Pa.) 1872-1924, 1875-07-24

Yet, on page 80 Of the report OF the state Treas
urer. for 1915, viii be found this entry
by cred authorized to be made un
der q resolution OF the COmmis-
siOners OF the Sinking Fund, date
Nav 9th. 1874, being the whole
amount of funds used for general
purposes since the creation OF the
nn rst : q; 3; ;b ,nT
revenues for other purposes than the payment
of the public Cebt appears TO have been made
about 1868. From that time TO 1874 the large
sum of nearly three millions OF dollars was with
drawn. Had tins money been applied to the
uses Contemplated by the Constitution, the
state debt would have been that much less,
The Committee ara aware that an act was ap.
proved Aprl H. iS7e authorizing the commls-
siOners of the sinking fund. IN certain cOnting
ency, to permit the state Treasury TO use n part
of the sinking fund revenues for tue current ex-
penses or tne c With tss 20 S atidty
provisions above quoted, the committee will not
now express anv opinion. But trey do calf at
| tentlou TO tlis fact:-Ihe public accounts show
| that more than one.half'of the S2.s07,Sl732 was
withdrawn from the fund before the act of ADrn
| 4, 1870, was passed And withdrawn SO far as
| shadow OF legal sanction. Such open disre-
gard of the plainest constitutional provisions
ia'ity and pr6bity Of public officers,
| During the period OF twelve years beginning
with December lsa2, the COMMITTEE are unable
| 10 find that one dollar has been paid into the
| State Treasury on account OF interest received
| on the public m6nevs, All that t'ihe, however,
|
1reasurer's control and by him deposited with
| various banks and bankers throughout the
state For these twelve Years the monthly
| balance In the hands Of the state TreaenrBr. IN
round numbers. averaged S21U0,00, varying
from the highest monthly balance OF 50 s53 1874 co.
aryf 80 1858. at FIVE per cent these balances
would have netted the receiver oyer 81 ,2CQ 900.
The ofIiclal papers proved that bn MAY .. 1874,
SneS @ S IN the he sinking fund OF sI.2s0, ISL and
there was but S4s "a Of TIE debt redeemsd
ON the 3lst of July there was a balance in the
fund 81 SJ26,9183 50, anu there was but SL6s0l. 4s
of the debt redeemed during the month of Au.
on the 3lst Of October, 1914. there was bal.
ance IN tho fund of Sf0,57G2b, aud there Was
but se6,677.50 Of the eDC redeemed during the
on the sIst OF January, 1875, there was bal.
ance in the fund Of 81 15i,155 s5, and there was
but S6J53 VI of the uebt redeoined during the
month Of February.
on the 3Ulh dr April, 1875 there was a balance
in the fund OF ,4f 407!6, ana bat sl3235J OF
May, Ma ''''' '''' -O'ON.,''N N'''' Wv ''N- VI
No excuse eau be offered for slmilar oisre.
gard of The act IN The future The first bust.
ness day of August. 1876, is the next dav of
WINCH according TO the PROVISIONS OF the act,dlL
moneys IN the sinking fund should be applied to
the redemption of an equivalent amount OF The
publlc DEBT. and the commissioners must pub
hsh tu two newspapers i'll Harrls0urg stat
ment OF the amOun0 in the fund at the begin.
nlng OF the month,and another at the end oil che
month, exhibiting the amount of the debt re-
deemed.
1t il ceitainlv important that the act be com.
Piled with. There ls no better guard against
the corrupt use of publlc moneys than an empty
treasury. In TINS instance it is the cOnlilanu
of the law that the sinking tuno balance be ex.
hausted four tunes year. 1t is Tor the pubic
good that the law be complied with, and The
peoples money useu to pay their debts, that the
grinding weight OF interest be | fled and the
temptations VI pletnoric purse be removed
The committee would further menlio1 that
the act direcilug these payments also declares
1t TO be "a msdemeanor III Office for any OF the
commissioners Ot the sinking tund to neglect oI
refuse to perform any OF the duties aujoined
upon them by tins act and for slch neg ect OF
refusal they may be impeacled and lemoyed
from office. But whle the law hitherto has
seemed TO be dead letter, and its penalties de
filed, better things are hoped tor IN the future
The committee feel that they have 1ui just
entered upon the work before them A lull IN
vesupation may not be accomplished until al
iInpedlments interpOsed bv the state Treasurer
are removed. The best effort OF the committee
however, will be given unit, every transaction
has been exposed TO the test OF u searching eX
animation.
o. II. REIGHARD, Chairman.
A. SMITH
MILTON A. EMBICK,
July 10, 1875. M. II WISE,