Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1885-01-19

In place OF the several different laws and
methods for paying out money belonging TO the
State for the support of different institutions
would recommend that some general system for
that purpose be formulated and enacted by your
honorable body. All moneys belonging 10 the
State should be paid into the State Treasury Us
soon as they come into the possession of State
oa1cers and should be disbursed only anon war
rants from the Controller. BY no other method
can proper record be kept of the expenditure
of State moneys. / would therefore suggest that
F., Section of the law relating TO the government
of the State Prisons be amended so as to require
the WardenS to pay into the State Treasury all
moneys collected by them, said moneys to be
placed TO the credit of the State Prison fund
Also should you find that the aSylumns or other
institutions are collecting State moneys, that the
same rule be applied to them. Whether or not
the Harbor Commission should be made an eX-
ception to this ger era and apparently necessary
plan, your own wisdom and investigation can
best determine
INVESTMENT OF THE SCHOOL LAND FUND,
BY virtue of the power granted in Sections
ESQ and 6S2 of the Political Code as amended
March s. 1883, the State Board of Examiners, on
the 24th day of November, 1881, bought one
hundred and twentySiX bonds. of the par value
of 81 900 each, issued on that day by the county
OF Sacramento, and maturing on the LIST day Of
January. 1895, paying therefor the sum of $l26.-
coo. These bonds bear interest at the rate of
~ per centum per annum, interest payable
semi-annually. The Board of Examiners iii
the exercise of the power conferred as above
stated, have experienced considerable difficulty.
owing to the terms of the law and the active
competition OF private capital, in investing the
school fund prOtitably The Board is limited
by the law to the investment of the school fund
in bonds of the United States, and bonds of the
State and of the counties. The bonds of the
United States command a nigh premium, and
bear low rate of interest Iii consequence of
this the Board have not considered
it profitable or advisable TO buy
such bonds. The bonds of the State
i'll the hands of individuals have not been
offered for sale to the State by their owners.
| The Board, further. encounter competition from
private individuals in the purchase of county
bonds. which are issued by the counties in only
limited quantities. Meanwhile the school
fund from the sale of State school lands and
other sources is accumulating ut the rate of
about S125 600 per annum. II viii. therefore, be
well for your honorable body TO consider the
adyisability of extending the power of the Board
of Examiners to the investment of this fund in
other securities than those now mentioned in
the law in some of the States the Commission
charged with investing the school fund are
authorized to loan such moneys TO private indi-
viduals and take as security for the repayment
thereof mortgage upon real estate. \ law,
! properly framed and carefully guarded, author
! fling the Board OF Examiners to loan such
moneys upon mortgage would, no doubt, facili-
| tate the investment OF this fund, and the State
would at the same time be amply secured in its
recovery should the principal not be paid when
due The Regents OF the University adopted
the above plan many years since, and ii has
been found 10 facilitate the loaning of the funds
Of that institution in safe and profitable
manner.
FEDERAL CLAIMS.
In reference to the several claims of the State
alleged to exist against the United States. beg
~ 'ii1' tG a7eitt 4o4 ttila e'l'e d. "
heretofore conferred upon him ana duly ratified
pa tIie lesISiI,it, t mas p,o5iit 10 lng Vllclai
tttentlp!. % tiG PIoi'eI utAoI .its a'iG utPaIt-
Gss % w HiSeu s'''..S s'.''i! IliIts ~ VI
time to time i'll regard thereto show consider
% itpG alu lakotNoie W PIoSIess S.ll, ul!! iMo VI
9!ICii Cittilis ma ryti "a, a'e pau ~ .IlG
- " 80! ID ~ ~ * az IN
" VI ~ -, - - - .It 80 - -! =! ~ - - - -. ~ ~
!c'i loI- loi .le luz W 5l4nS |" tllc
nolthcln coun.IcS ustItus e the Nouoc lhti!Yn NJ !
WIZ anu iliat % 800, iPo %, oL tCt i u tIle
rebate oI tnc nIteeh per cOHtuih oi tile diiecl
wal taX lctleu upon ana assesseu 70 ttlls ntate
@uiiQeI @ tle Att ol C0hS-GSs aPPioNeu aug us' .
109l M . = '''tILe, VI VI - T. ~
ne iot'i amount ~ ol tiie fGS'Gi9l ui'ecl SaI
taA icy lcu upon 'hG Statc Oh talIofli!ii' uhuer
aiie aioFesilu Act OF congress, was S-'4,poN %.
llllS tlc ott'c as>'1lleu anu Lduc PROVISION lof
lls Payment m thc -acl OF tile Legislature ap-
PtoNcu APIl -, Joo-' anu ol tle sum, up 20
february, leo1 nad pald S24'4l9 IL. 1hlS lett
the amount, stlL que from the state TO the
tIIted states = VSo 70.
II was GAINED Dy the agent OF the state that
thouSn me STATE ialIed 70 make aef payment ol
tills direct war TAX Wlthm the tlme prescribed
IN sad feoeTal statute; ana t1ough sne was III
| consequence no! legally ehtitled TO the rebate
seclloh % Oh Salu Act tils State 1eNertheieSs,
wa III equity ChlitIe 10 sald iIleeIl per ceuIuh
rebate, since ne collection and payment had
peelI ll'lde "!thouI an! GHPeiise " %HaIcNtf 70
the hlteu states. by eSt9OilshInS lh!s rlght III
equ4I! the agent succeeded Ill receiving ana
coAectlhg the IcptIc III lhe per cclltuh heli-
TONED.
g. II the ssttIclnent hau bet"eeh the United
claims mentioned, the proper United states au-
thorltles deducted sald sum OF Shg95 . then
dcllnqHelt ana tlue tle Ohiteu states, ana
VI 4ss'ie' ~ tle " die vi tIle NoSeIllor
oi Sailioilila' Il oid!l ioI thc IelhGIiiueI, VIZ
T1I1N' %, uIpu liit IIieu Htates oup- ItdSIIcr
at san FRANCISCO ms amount aIter uSuucllilG
eIIe t"lillII>SlVu loi coiloClIoh a. IAeu y! tllS
J1lnt JJ IesUtuCioh ot tiie i.GSlSlatiie auoPitu
q, I' VIZ y! IilS pd%,l ci ~ l4le 2'a'e
IredSu!ei III Ihe sum OF S=2'1ii 9o
-, - 'Iis 'eS 81, " Ielot 'V uIlIei
.AC pclIel lll d iiiopei cIlo! ii.t!t u! COM it
!? '1liGt I'm ttic ite't ot'tSgs te
oIu @ @I Siti5lIiiiIt .1 lIiulau war ueptS No4p: pG
Cion Si Heu TIth sutJGss HaNe uu!s apPoIi'e'l
t i ~. t - ~ P ~ a. a.
i Tsflit a1G Ioi SUI! Use, t.ie
10 %i t SSt ~ ~ tia i1 -
ti ;.f ~ y ~ ~ - ~ -, 80 ~ O. ~ il! - -.
~, i,trt ia ~. o',T 10, ~ ~ St+ 5
t rilo P1u y! "ti c'tE " tis 3t'tSe uIi
1 f iin
SO ti y! tiit ~ CeT.I " .u.Ill IN
r,,lor T.,,itni Sttcs ,,tbnrftis nv w + 'lr
KIM in,,, 70 fLo f,nraiI rooitin ,,ili i
49, " M ~" b ~ I GIi,' ;
Kay iiiea i VI ~, tLn ~ !: PltSet'loI
nerr thron@h his einrts an cyrnt,sII fntGrsGI
ctio in tinaI ',,f aSinr4rnt m
M ;.-+iI;rJJo - % ~ go - f1ol;,,. l;1, -,
=. d. ~, 80 ao., g i a. @ - @ ~, y -; - ~ -:
io 80 &c c. lI -, 'ii s c ms
,J ,o "a ~ li W. n; 1lr,u ~
TIi IL ~
~ me- for ~ rrss oa nsr
y! ---0 'Vi '''' ''P''O' "''' No7o'i
THE NE-,u oprr r,>-s COrTIN 1-,pnsrTt1N