Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1879-01-18

treasurer should decline to make fur
ther selection, what would be the result!
There is no requirement OF the constltu-
ton, or of any statute, that the treasu-
rer continue to make such further selec-
ton OF bank or banks until the govern
or and attorney-general shall approve
selection; there is ne statute imposing
any penalty upon the treasurer Ter his
failure to perform his duty in this par
ticular; there would be no solution OF
the difficulty in the law, and the treasu-
rer would retain the funds as IT said con-
stitutional provision had meyer been
adopted. Or, suppose that the governor
and attorney-general should approve the
selection made by the treasurer. OF
bank or banks, and such bank or banks
were unable to give security. satisfacto-
ry to the governor and dattorney-general.
tor the saTe-keeping and payment of the
state deposits, and the treasurer Should
refuse to select any other bank or banks,
how could the selection, in such case,
be made effectual, unless the legislature
provides a statute that shall prescribe
the details fer the carrying into effect OF
this provision, with suitable penalties to
compel the observance of said constitu-
tional provision, and the statutes enac-
ted in pursuance thereof? Again, what
sort of security must the governor and
attorney-general take for the sate-keep-
ing and payment, of such deposisP
Must it be a bond with personal security
thereon, and if so, to whom shall the
bond be given, and what are to be it's
conditions? Must it be given 10 the
state or to the treasurer, or to the gov
ernor and attorney-generalp Must the
| governor and attorney-general take real
estate security, or bonds and chooses in
| action, and if so. who is to have the Gus
tedy and control of these securities?
|! Ought there not to be some statute de-
timing the duties, not only OF the treasu-
rer, but of the governor and attorney
| general, in this matter? Is the treasu-
rer at liberty to select his bank or banks
of deposit for the state funds in any state
or territory that he may select? Or is
he restricted in such selection to the
banks of this state? If the governor and
attorney-general are authorized to take
a boud, with personal security, for the
sate-keeplng and payment OF the state
deposits; must the sureties on the bond
reside in this state, or can they,
in case of selection OF foreign bank
or banks, take nonresident sureties on
the bond OF such bank or banks, given
for the saie-keeping and payment of the
deposits?
These matters ought to be regulated
by statute, because if foreign bank
should fail in the safe-keeping and pay
ment of such state deposits, the state
\ ought not to be required to go into the
courts OF foreign state to recover said
deposits. -..a-.L s-.G ...
These suggestions aud others tina
might be named, demonstrate the prop
ositlon that the said section fifteen of ar
ticle ten cannot be certainly enforced
without the aid of statutory detail pro
viding the manner and means for tina
purpose" ...r
The house of representatives, by res
olutien, requested the treasurer to in
form the house how much money Their
! was in the treasury, and where the sam
was deposited or kept. He replied tn
, money of the state was deposited an
E kept as follows:
, Bank of St Joseph, Mo. 81. o34 1893
Z National Bank State OF Missouri. :. 90, 24s
l National Exchange Bank, Jefferson
In vault t-...-...... -.......... io,ozo,s
III
/, TIE treasurer named the sewers
! FUNDS to which the money belonged
I! He also says:
J, 81 further state that, inasmuch a
8 there is no statutory law giving etfet
k to section IS, article 10 OF the constitl
ton, have not observed the require
9 ments of the same, but have the variou
b funds in my custody so situated that
9 can subject the same to the requirement
o of any legislation that may be adopte
e for the government Of the treasury d.
J.: partment. l may further state tins
p have taken bond from the bank
s. st. Joseph, tor my, own protection. fc
d one million dollars. Believing that tt
" present general assembly would, at 9
y early day, enact laws enforcing II
q COL. .titution, the funds IN my custeo
" have been temporarily deposited in Il
1t foregoing banks tor safe keeping. III
y no interest has been paid for the same
10 Bills to carry into effect the pr
t. visions Of section Is. article 10, we
s. introduced and were passed by ea'
g. house of the general assembly, but th'
a. differed in their provisions. The leg
er lature failed to enact any law to car
or into effect the provisions OF said secti
sp Is, to regulate the deposits and 50
or custody of the public moneys. L
i'd state treasurer was then left to be 20
he erned by the statute law in the dischar
is OF the official duties. -...
st The treasurer gave his official bo
ed as required by law In the sum OF 8
nd million dollars, with eleven sureties.
Ia portion of whom justified to the amou
IN OF 81, $50, 600 winch bond was filed W
he the secretary of state, with my approx
or of the same endorsed thereon. 1t
ot sursties OF the treasurer should becol
re insolvent, or remove from the state,
ps where is the authority given to the &c
in ernor or any other officer. to require
it new bond or additional security to
th given. 1t il true such request might
he made, but there is no power or auth
W. ity to ceerce compliance or pena
We for Noncompliance. Nor has the g
ch ernor the power to remove the treasu
'ut for failure to perform the duties
,le Joined on him. Nor would it be RI!
'te to vest in the governor alone the Pov
en- to remove him, or any other officer,
re- his pleasure. Nor is there any author
ate contained in the constitution, nor in
he law, by which the governor can requ
y | Tile treasurer 10 pcEloEu tue uutleS Ia
ity ed in section Is Of article 10 OF the C,
Dr. stitution, and whatever Is to be done
nd der that provision of the constitution
en- quires the treasurer to take the initiati
at The treasurer never consulted me or
ne vised with me about placing the put
ect funds in the bank of st. Joseph, or
he the Mastin bank, or in any other ba
ate prior to the failure OF the Mastin ba
lcl- During my absence from the state
IN 1876, the treasurer sought to carry
ort the provisions of the constitution VI
the respect to the deposit OF public mon
re- One bank only submitted proposal, ;;
nto that was accepted in July, 1877. T
es- bank was requested to furnish satis
en-. tory security for the safe-keeping
md payment OF such deposits. The reqr
hat was disregarded by the bank, and no
on curity whatever was offered, and cor
red quently no deposits were made by
ms, state in it. This transaction occur
lis. during the time of my absence.
vas whilst Lieut.-Gov. Brockmeyer was
the charging the duties of governor.
'ec- In the month of August, 1878,
xe- Mastin bank failed, and its assets "
Gus placed IN the hands of its assignee.
'as- the date of its failure the state treasr
OF claimed TO his credit in that bank
on sum of $500 1877 80. moneys of the st