The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-02-05
WARREN @. SAVER.
HIRAM BRowNLEEs
JOHN LINDLEY.
w. d. FoULKE.
The Debate ON the Reports.

The Debate on the Reports.
The discussion in the House upon the com
mittee reports was spirited. Mr.. Sayre, in sup
port of the minority report. opened the discus
sion of the question of the necessity of an in
vestigation. II say without being influenced
Mr. Sayre said. by party consideration or party
bias believe that not only l. but every repre-
sentative on this floor is interested in the safe
keeping of the funds of the State. believe,
too that every member On this floor has the
same duty imposed upon him, and that is to see
to it that the funds of the State
shall be faithfully applied to the pur-
pose for which they were raised pre-
sumo that every person here is familiar
with the law pertaining to the State Treasury
They know that any kind of orders and certif-
Gates of deposit or supposed deposits in banks
aud drafts upon banks. and all things of that
kind are not the kind of money required to be
paid by the people of the State The funds that
go into the State Treasury go there in the shape
of money, aud the law requires that the Treas
urer Of State should be at all times ready to ac-
count TO the people and the General Assembly,
or to those to whom investigation should be re-
ferred. for the kind of money he receives and
the kind of funds he should have on hand. The
majority report, as signed, does not give in de-
tail as | remember their report the; assets that
] the Treasurer of State has shown this commit
tee. The minority of the committee have under
taken to give to this Legislature in detail what
the Treasurer of State pretends 70 hold in the
vaults as assests Now Thank for moment. Is
it such money as the law requiresl Iwant to call
the attention of this Legislature to the facts set
out in the minority report. On the 10th of last
November, which was on Sunday, certificates of
deposits were issued by the cashier of the Mer-
chants National Bank. of Indianapolis. to the
amount of $40 e00 payable to himself. When it
was brought up before the committee that these
deposits were made the Sabbath day,
and that this was out of the ordinary
and usual of business. inquiry was
not permitted to be made. Does any man
here believe that the Merchants National
Bank was open on the 10th day of last November,
which was on Sundayg The report of the mi
norty shows that there should have been in
the Treasury on the 9th day of January. 1885,
$486OOO There is no pretense of the Treasurer.
or ary of his friends on the majority of this
committee that such money on hands, or on
special deposit There is pretense that the
money is placed where it will be absolutely safe.
/ presume that the banks of indianapolis.
now existing here are perfectly sound.
l have not heard any intimation to the
contrary. But last summer everybody thought
Harrison's bank safe-everybody thought
that Fletcher & Sharpe's bank was in safe condi
ton. and yet to-day they are in ruins and their
ordinary depositors are deprived of thousands
and thousands Of dollars. The members of this
committee in the minority asked this General
Assembly for authority to send for persons and
papers so they could make an investigation. IL
WAS not allowed. Now, John j. Cooper has
loaned large sums of rooney TO the Meridian
National Bank, and to his bondsnlen or a part of
his bondsmen for the purpose of carrying
on ordinary business to engage in
speculation. We were further informed and so
the committee was informed by the minority
that money was borrowed and not given for a
certi6cate-that the money was not in the vaults
of that bank. There is 500 900 that the major
ity. committee reported to this House as better
than cash; that it is worth more than one hun
dred cents on the dollar / speak Of the orders
on the treasury of Marion county. The commits
soners of Marion county on the 1st os last June
made temporary loan for six months, and on
the 10Th day of January they. had been due
twenty nine days, and they were not paid |
want to say TO the gentlemen of this General AS
sembly. want to see complete and thorough
investigation of the affairs of the State Treasury
Dir Adams: What shall say upon this ques-
ton shall not say because | am Republican
and the State Treasurer is Democrat but be-
cause | believe the people of Indiana as they
have right to. desire to know how the money is
being used The law is very plain. AMI it en-
powers the General Assembly to enforce its pro
visions or stop the penal violation OF it, The
law expressly prohibits every loan or deposit in
any bank with any person or persons. The
Treasurer of State is expressv prohibited from
receiving any interest gratuity or honns upon the
funds of the State. The State Treasurer has
of interest. gratuity and bonuses upon the funds
10 his hands. l am told that the amount of IN
tercst he has so received amounts TO the sum of
80 600. This money belongs to the State 1t is
is not the Treasurers money. 1t is the money
OF the people of the tax payers that have paid it
into the Treasury. The Treasurer is prohibited
from receiving that money. The gentlemen of the
majority report say it is doubtful question. Is
it a doubtful question: Can it read any
plainerl The statute says he shall re-
eeiye no interest except for the use
OF the State Mr. Lame asked Mr. Cooper
"What Is your mode of taking care of the States
moneys" II keep it in the bank, Dir. Cooper re
piled, ION special or ordinary deposit What
interest gratuity benefit do you receiver was
asked by Mr. Sayre, and the Democratic mem
bers of the committee refused to permit the
Treasurer to answer the question. Then the
question was asked. Have you received any in,
terest on United States bonds2' and that was
not permitted to be answered. / want to ask
you if this thing was all right if Mr. Cooper would
have had any objection to going into an investiga
toni There can be no harm in having fair in
yestigation of this matter. IF Mr. Cooper stands
square with the State, he can not be injured by
an investigatiOn--his bondsmen can not be in
lpred by an investigation. nobody can be injured