The Daily clarion. [volume] (Jackson, Miss.) 1866-1888, 1875-01-13

the unanimous voice and ballot of those
who voted upon the question at all-the
said amendment failing only from want
of interest on the part of the electors-a
majority of all the votes cast for members
Of the lower house being required to adopt
it. [ knew that the people of the State
were in no condition to take money out of
the Treasury and invest it in United
States Bonds, at a time when they were
impoverished from loss of crops. I knew
that it could be used by the State and
save at least one-tenth of the taxation
of this year for general purposes, and felt
satisfied, and was assured, that the Leg
islature would make such use, of it. If
invested in y. S. Bonds, large premi-
UNI would have to be paid, and to this
would be added the cost of purchasing,
and Of an early sale of the same. This
would more than eat up the interest for
the short time that the investment would
remain. The Legislature, and the peo-
ple--those who voted at all - had expressed
themselves in the most positive manner
in favor Of keeping the money at home;
and knew, from the interest manifested
! by all classes, when the effect of the
| failure of the former amendment was
known, that it would again be submitted
and carried, and that it was better to
have the fund here, and in use by the
State until that was accomplished, es-
pecially when there was no risk what
ever in doing so.
A. soon as learned of the action of
the School Board, | demonstrated with
them against their order; and while those
persons agreed with me that the State
was III no condition to loan money, re-
celved from the taxpayers, to the United
States Government, at a time when it
was so much needed at home, (and in
deed when our people were in condi-
ton of starvation and suffering from
overflow of the Mississippi river,) they
still regarded their duty as imper-
alive.
1t was generally understood by promi-
nent members Of both parties that was
not going to make the investment, I'M
less compelled to do so, before the Legis-
lature could take some action in the mat
ter, and heard no complaints, nor did
| find any person, not interested, who
did not agree with me that it was a wise
thing to keep the fund at home, il it
could be done, until some time in Octo
Der, when it was rumored around that i,
was being used for private speculation
either by myself or those in my offic.
Soon it was stated that the funds was
vested in State warrants, and that -
could not, for that reason, make the ]
vestment ordered by 5ne 5;lp)l B in
and, finding that where [ expected p aise
and commentator for saving to the use
of the State a large sum Of money, and
thereby Wi ping out more than one tenth
Of the tax of 1875, for general purposes,
[ was about to receive censure and accu-
stations of dishonesty. l Immediately
bundled up the money and sent il
through the banking house of Messrs.
j. q I. Green for investment In the
bonds Of the United States. My only
regret in the matter now is, that allow
ed the grumbiing accusations of a few
meddleSome persons to move me from
my original purpose to disregard the
order of the School Board. AS to the
charge that have been receiving in
terest upon that, or any other State fund
VI IlIebC al P0A0OA III lily CHPIoB lbs
been doing so, | refer you to the banks
and an examination of their books
When [ came into the Office of Treas
urer, [ found several thousand dollars o.
currency on deposit in one or bot!
banks, and regarding the security of the
safe and vault of the State Treasury as
:. little better than no safety at all, [ kept
up the practice of keeping more or les;
funds IN the banks, most Of the time or
special deposit. 1t is known that an ex-
perienced burglar could, at the time Of
: my taking charge Of this Office, with the
assistance Of an ordinary nail or piece o.
I wire, have affected an entrance into the
vault and safe Of the Treasury, and tina
they afforded no protection whatever
against depre 1ators. [ found it so mucl
trouble to keep all Of the valuabies in the
= vaults of one of the City Banks, that ]
} ordered, and have now in the Office 8
/ burglar proof chest Of the latest and mos
= improved pattern. Before | received i
[ was compelled to keep all of the bonds
and warrants belonging to the Trus
Funds, and to Insurance Companies, il
= boxes at the banks, and even now have
t no safe place in which to deposit the large
amount of certificates on hand except il
: the vaults Of the banks, where they nov
are, in sealed boxes.
| W ~