Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1892-01-22

owner, 1t is all inconsistent with the
idea that the legislature contemplated
that, as against the state, it was the state
treasurer money. In contemplation of
the law, the treasurer Is simnIv
the custodian of the sta.e's
money. Il is, strictly, bailmentE
Commonwealth VS.. Godshaw; snnra
Periey vs.. Muskegon, supra: Z. w
Thomas, supra. No decision to the con.
trary Is known, where there we're statutes
directing the mode and place of keeping
the funds.
But, ii is objected that the state canl,ot
recover this interest because it must trace
It's title to it, if at all, through a series .;
unlawful transactions. If it is established
that the principal fund which earned the
interest was the property of the STATE,
this objection does not seem to be insuper
able. The disposition of the money in
TIE banks by the treasurer for his own
gam was forbidden and unlawful. On its
clVll side at least the unlawful act was a
10rt--2 conversation OF the states money.
Ihe conversion did not displace the state S
title. The fund was still the states money.
The accessory followed its principal. the
accret on was the states money-The U
Mosby, 1873; U. s. 273-296. But the treas
urer can trace title to the interest only
through his own wrongful act. This be
cannot be allowed to do. That would be
violation Of that most ancient and wide
ly applied maxim of the law, no man
shall profit by his own wrong. The de.
PENDANT has not even plausible claim of
legal title to this interest. 1t would, in,
deed be startling legal paradox, if the
treasurer, being forbidden by law to de-
poslt the public funds for his own gain,
could set do the very thing forbidden and
get away with his gains, according TO
law. This interest was, also, received in
to the state easury. 1t was paid to the
treasury without restriction. There was
no way for the banks to pay the money
into the treasury but to put il into the
hand of the treasurer. Any subtle dis
tinction between paying to the treasurer
and paying into the treasury is specious
and Elusive. 1t is not certain
that any of this money came
into the vaults. No money is paid into
the vaults Of the treasury. It is paid to
the treasurer. 1t is then, in legal com
template IN, in the treasury. People VS..
Mckinney, 10 Mich, "a 1t is then d
treasurer's duty to put it into the vaults
Whether he does so does not effect the
ownership OF the money. It is the treas
urer s duty to deliver to his successor in
office all moneys, books, records, papers,
furniture and other effects belonging to or
preserved in his office. Section 1856.
Th~>" Interest moneys belong to his Office
II has not faithfully DISCHARGED thr du
ties f his office until he HIS t..av.r-,
them to his successor In office. IL is lu'
considered that i7rg continued p~a"'ir.
OF state treasure"S "a ue rDSit public money
III banks for their own gain Is such Il
practical construction Of the statute, by of
ticPrs charged With the Xecution of the law.
as TO be- ct any controlling inAuence. It Is
only in cases Of rel Go1ht that the con-
struCtion is allowable. Wrether til, law
contemplated that the treasurer might
deposit publ C moneys Il the banks
for his ON gain l. not per, we'd
TO have been doubtful siuce chapter 340 of
the laws Of 1876 came in force, however.
1t may have been before. Nor is it con
sldered that the delay of the state to claim
this money acts III ANY way rs Il bar TO its
right or cloud upon us good faith rhp
law Is the standard OF the treasrror's duIy
aUd ihA me i>urc OF his right. il all the
wh-.e armed Il. II hat this was u his
mCrCv.
Judgment should be for the state for
amount of moneys detained by ,hA treas.
urers with interest from the time when it
should have been paid to their Successors.
Dakota Bank Goes Under.
ABERDEEN, S. D., Jan. !6.-The
Northwestern National bank Of this
city, organized in 1888, went into vol
untary liquidation by the action of the
stockholders yesterday. The loss, j.