The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-10-07
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A BANKRUPT TREASURY.


The last Democratic Legislature made an
appropriation of 500 900 for the building Of
three additional insane hospitals, one at Rich
mond, one at Logansport and one at Evans
vile. Unfortunately the Legislature did not
create special fund for this purpose, as was
| done with the State-house fund; but the tax
levied for the asylums, and which was pro-
vided for in the revenue bill, passed into the
general fund. Some time ago the board Of cor
struction Of the new hospitals was informed
| by the Treasurer of State that there was no
money in the general fund, and warrants
| drawn on estimates for the contractors for the
| new buildings could not be paid. In order to
prevent a cessation Of the work of building,
| and to save the contractors from great loss,
an arrangement was made to 60 on with the
work, the allowances to be made as usual, but
no warrants were to be paid until Jan. !, and
Feb. 90, 1887. Since that time the contract
hypothecated them, and have secured the
money upon them at or 8per cent. discount.
At the meeting Of the board on Tuesday last
allowances to the amount of about $12, 900
were made, all of which must 60 into the
hands of contractors and be hawked about
the streets to find a purchaser, at such
rate of discount as the necessity of the build
ers and the appetite Of the money-lender may
suggest and agree upon. We understand
that there is afoat about $780, 900 Of this class
of paper, while the appropriation made by the
last Legislature is not exhausted by at least
fifty thousand dollars.
This is the sort of business administration
the Democratic party is giving the State of
Indiana. The money ought to be in the State
Treasury, or else the Democratic Legislature
made appropriations largely in excess of the
revenue they provided. Which is true9 Is
it not necessary that there should be turn
ing and an overturning in order that the peo-
pie may know the exact condition of the State
| Treasury and of the State business9
Were ever such wretched 'financiering and
administration known in the history of any
State2 Why should the contractors for the
new asylums be injured by being compelled
to hawk the State warrants about the streets,
and be subjected to shave of or per cent?
The Governor and State officers could have
negotiated temporary loan at 3 1-2 per cent,
at the outside; but in the face of campaign
another loan would not do; and so the con-
tractors and the workingmen who are doing
work for the great State of Indiana must pay
or per cent for money in order to shield
the Democratic party from the just indigna-
ton of the people.
We have had some difficulty in getting hold
of these facts, bat we assure the people of the
State that they are facts, and their main feat
ures will not be denied by the Democrats
There is no money in the treasury; at least,
one hundred and twenty thousand dollars of
the estimate-allowances of the new insane
hospital board are in the hands of the con-
tractors or have been hypothecated because
the State treasury could not or would not pay
them, although the appropriation is not yet
exhausted by at least fifty thousand dollars
viii not this condition OF things arouse the
| people of the State, and compel them to Dust
the Democratic party from powerg
| Open the books and count the money.
i