Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1891-01-22

formed, from two to three per cent. and it
is obvious that the deposit of these funds,
under proper restrictions, might therefore
not only subserve the useful purposes in
dictated, but rightfullv and properly af-
ford to the state moderate source of rev
enue, which would be to that extent
relief to the people from taxation. To
secure the safe operation of such policy
careful legislation is necessary. Among
other things it should require abundant
security from every bank admitted to the
list of public repositories; it should make
the state preferred creditor, aud provide
every other reasonable safeguard to pro-
tect the funds from loss and insure pay
ment to the treasury of all interest arts
ing from them. This implies, of course,
a radical change of policy from that here
tofore prevailing IN our law. There ap-
pears to me, however, no reason why that
change should not be made. Even larger
sums than the state would be likely to de-
poslt IN any one Institution are often en-
trusted to banks By private parties, and it
need not be said that loss, more especially
among the we'll established and approved
banking institutions of the state, is
thing of very rare occurrence. Properly
guarded | cannot think any risk will
be encountered which the state cannot
wisely accept. The practice prevails with
authority of law in some other states, and
more often still With municipalities, and
has favorable experience to commend
In the public discussions preceding the
recent general election the right of the
state to all the interest which has been
heretofore collected by the state treasurers,
or others under their direction, was earn
estly maintained among the people, and it
IS believed has the support of sound prin-
ciples Of law. The attorney general will,
therefore in due time, institute such pro-
ceedings in the courts as he shall regard
proper to recover such interest moneys.
The amount at stake is considerable. The
Iabors involved are likely to be great, and
it may be desirable that a moderate sum
for contingent expenses should be provided
to further the prosecution of these proceed
ings.
Investment of Trust Funds.
The state holds large amounts of money
belonging to what are known as the trust
funds, and the sole rightful purpose to
which these funds can be applied is to
gain interest. Necessarily, in order best
to promote this end there should be as
wide an opportunity for investment as can
be safely left open to the officers charged
with this duty. At present loans can be
made only upon the bonds of this state, of
which none exist, upon the bonds of the
United States and certain specified states,
Of which few or none are practically avail
able, or upon loans to school districts or
municipalities within the state, which do
not require so much. An unfortunate
experience has shown that the state cannot
safely undertake to make loans on these
funds to individuals. but | believe that
there are other securities to be obtained
in which the funds of the state may safely
tie placed so that all may be made avail
able to the ends for which they were pro-
vided, if not better rates Of interest gained
Your attention is respectfully invited to
this subject.
Selni-Annual Payment of Taxes.
The taxes which are annually exacted
from the people are not needed at a par
ticular time, but are expended from time
to time throughout the entire year, not
only by the state but by the counties and
subordinate municipalities. Itappears to
me plain that all the public needs would
be as well subserved by payment of these
taxes semi-annually instead of annually,
as at present required and that a con-
siderable relief would insue to the tax
payers of the state by thus leaving in their
hands for six months one-half the total an
nual levies for all public purposes. This
would require some changes in the present
statutes for the collection of taxes and for
the sale of lands delinquent for non-pay-
Tnent of taxes-a change not difficult to
make in entire harmony with the present
system. Another advantage whichmight be
gained, would be the relief of the treasury
from the congestion annually experienced
under the present system during the earlier
months of the year.
The mill tax for the support of the COM
mon schools, amounting to nearly SIX hun
dred thousand dollars, is now
collected more than six months before the
period for its distribution, and necessarily
remains not only without benefit to the
taxpayer. but also at certain risk.
These various advantages seem to me so
important that | respectfully commend
this reform to your careful attention, and
recommend the proper changes In the
statutes to afford this relief to the people.
The Public Schools.
The high rank which our public schools
have attained is matter Of just pride to
all our people. For twenty years tie
progress of Wisconsin in educational mat
tiers has been remarkable, and much more
rapid than in many older states. Every
thing within the power Of the legislature
necessary to advance the standing and
increase the usefulness of our public
schools, should be done promptly
care and prudence, but with liberality.
Legislation in that direction will meet
with my warm approval. In many parts
of the state complaints are being made
that large numbers of children are denied
the benefit OF our free schools because of
lack of accommodation for all who desire
to attend This condition is one which
should not be tolerated. The number of
children in the state who do not attend
school is in fact much smaller than has
been represented in some quarters, and the
actual percentage would be greatly re-
duced if all of those desiring to attend
could find room in our school houses.
Factory Labor.
The employment of children of tender
age in factories, or other places of bust
ness, should be strictly prohibited, and a
careful examination of existing laws
on this subject with a view to their