The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1876-06-07
OPEN LETTER No. ID

chair. GENERAL FUND.
kDIANAPoLfs, May 81, 1876. -
OPEN LETTER No. Is
To The EDITOR OF THE INDIANAPOLIS
JOURNAL. -al- ~
The peculiar method with which your
auditors of state have commingled the
several funds in the state treasury has
been. a fruitful source of annoyance and
vexslion TO thousands of public debtors and
creditors in this s.ate, and has given OBJ
portunity, az least, for mary gross viols-
lions of official duty by those To whom ven
enSrust ID the management of the import
ant transactions of the treasury depart
ment, involving, as they do, the receipt
and disbursements of millions of dollars
each year "As one of your own poets
has said. 1t enabled them all TO
watch for chance EQUATION"
The report OF your auditor of state for
the year ending October 81, 1873. shows
| that there was in the treasury at that date
belonging tn Surplus r. Fund.-" the sum
of S20O7 81 Your auditor seems
not TO nave known its origin or
destination, and when he retired
left the amount in the hands
of your Repu blicsn treasurer of state.
WI o in turn leit it TO his successor, per-
haps, hoping that he, being a Democrat,
would either read little law or get some
one to read it for him. Surplus Revenue
Fund was companion of mine In the
treasury. Before leaving us TO. enjoy the
pleasures of country lite, to which he had
long been destined, but which be had
been fordbly prevented from reaching,
ne imposed upon me the sacred duty, as q
friend, of making known to the people
OF the state his sad history. / cite you to
the authority which be left with me.
Lest you msy not have it at hand, quote:
THE SURPLUS REVENUE FUND.
"Under the administration of President
Jackson, the national debt contracted by
the revolutionary war and the purchase of
louisiana was entirely discharged, and a
large surplus remained in the United
States treasury. To June, 1886, Congress
authorized the distribution of this money
among the states in the ratio of their repre-
sentstion in Congress. The Legislature, by
an act approved December 81, 1886, au-
thorzsd the treasurer of state to receive
from the treasurer of the United States,
and receipt therefor by certificate of de-
post, the amount of surplus revenue of
the United States to which the state of
Indiana was entitled by an act of Con-
gress approved June %, 1886. By the
same act IL was further provided, That
the state Of Indiana hereby irrevokably
pledges her faith to the Unite States that
she will safely keep and repay the said
moneys, and every part thereof, from
time 10 time, whenever the same shall be
required by the secretary of the tressurery,
Tor the purpose mentioned in said act OF
Congress-, add upon the conditions therein
named By subsequent act, approved
February 6, 1887, it was provided, That
one-hslf OF said revenue shall he funded in
the respective organized counties, in
Il
its taxable polls that paid tax fer the year
1885, Section IL of this act directs the
treasurer OF state, upon eceiyipg said sur
plus revenue, or any part thereof, 10 ad-
vertise the same in two newspapers. pub
lished at toe seat of government, and Of
general circulation throughout the state,
tor three weeks successfully, stat
ing in such advertisement what
amount such county shall receive: and il
any county, through its agent, fails or
neglects to make legal application for it's
portion OF said revenue allotted in this
bill, within ninety days alter such notice
shall have been given, then the treasurer
shall loan it out, as at present he is author
lied to loan the college fund, and the in
terest accruiDg thereon shall be distribu-
ted, according TO the provisions OF this
act, among the townships of said county
Tor the purpose of CO mmon schools
WHAT THE TREASURER SAYS.
The treasurer of state, in his re-
port for the fiscal year ending
November 80, 1887, says in reference
to this fund: There has been received from
the United States, on deposit, the sum of
SS60,24 A. or this amount / have dis
bursed TO the losniug agents Of the several
counties the sum OF 1851, 126 Is, being the
entire amount of the two tirst INSTALL
ments, except the sum Of s. $40 50, not
called for by the counties OF Lake, DeKalb
and Wells, and which has been loaned
sgreesblv to law. The third instsll-hent,
being $3.50 ISL As, has been paid
over to the commissioners Of the
sinking fund.- This amount, 1886 So,
of the first and second installments, repre-
sents the principal of the surplus revenue
loans, carried on the auditors and treas
urer's books for the past iorty years. The
interest sccruing, and the principal coll
lec.ed from tiEae to time, has been dis
tributed to the counties named. The last
of these loans was collected November 10,
1872, since which time there has been
balance OF $2,007 81 to the credit OF this
fund, which amount belongs TO these
counties in equal portions, and remains
subject to their order" -att .s. 10
49,, THE PROPER AUTHORITIES
of the counties entitled TO the custody Of
our late companion, upon receiving notice
of their good fortune, came to the treasury
with 10y and took our friend to his proper
aud more comfortable home in the rural
districts. In parting with him, we all
recognized that our loss was his eternal
gain. His name no more appears
in the. list of the claimants upon
the General Treasury" 1 under
stand That .-tbes general governments,