Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1892-09-15

yond all doubt or cayil. that whatever
was received into, should. until lawfully
paid ont of, continue constantly to re- |
main within. the states strong box, or |
the vaults of the treasury?
The treasurer is required to bind him. |
self and his successors in no terms of |
absolute responsibility, but strictly in
accordance with the nature of his du-
ties as so fixed by law. The condition
is only for the faithful discharge Of the
duties" etc, by himself, and for the
faithful performance by all persons APP
pointed or employed by him in his office
of their duties and trusts therein; the
obligation only which every bailee of
property for hire is under with respect
to himself and his servants; and then,
that he will deliver to his successor in
| office, or to any OthCrperSOn authorized
by law to receive the same, all moneys,
books, records, papers and other arti-
cles and effects belonging to his said
office
Everything here, continued Senator
Villas, COMFORTS with his character of a
mere custodian. He does not engage,
for and pay over, according to law, all
moneys which shall come into his hands
as such treasurer but only to deliver
| all moneys at the end of his term be
longing to his office. He is no more the
| owner Of the money Ian of the furni-
| ture in his office, or the key of the
| treasury vaults.
| does the state hold the funds in the
treasury, or does his executor or adj
mniStrator take them and list the
state as q creditor? Suppose the adj
ministratOr found quantity of gold
| coin which, as during many years not
, long ago, was worth a large premium
in legal tender; could he sell the coin,
! discharge the treasury claim with le-
! gal tenders and take the AMOUNT of
the premium? Or could Il treasurer Go
the like, who had received gold coin
! from Il predecessor, or otherwise?
Counsel say, 1t is settled doctrine
! that "the treasurer was made insurer
! of the funds committed to his charge"
which is "Strong, and we judge con-
! trolling ground for our contention that
! the moneys in dispute were not
! moneys belonging to the treasurer's
! office" if it were true that the state
had made it one of the responsibilities
| of the treasurer that he should ab.
! aolutely answer the loss Of any of the
! states money committed to his cust0
| dy, this would not transfer the title to
! him. The state had power to pre-
! scribe any duties or obligations to the
| Office to entrust its money to the
| keeping of its officer on any conditions
! or terms the legislature saw fit, and
! the treasurer who accepts the office
with its hOnOrs and lawful compensa-
! ton, takes it also cum Onere; he can
! not claim the states money rs his be-
j cause he has been required and has
! agreed to be responsible for its safety
| If the inquiry be further pressed, it
! is confidently submitted no Slch eN-
| IRENE responsibility is imposed ON the
| state treasurer. He is anSWerablC for
no loss, not attributable to his nr mis-
| servants fault or neglect. lie is no
insurer of the safety Of the moneys
! of the state
Senator Villas quoted many cases to
demonstrate the freedom from a0so-
lutte liability of the state treasurer i'll
! Wisconsin. He declared that were
! this court now called upon to deter
mine whether the state treasurer
should be held ansWerable absolutely
for all moneys paid into the state
treasury whether from their ,1eprecia-
ton i'll value by any cause happening
| during his term, by tire, by robbery,
or other cause not in any degree
chargeablc to the fault OF neglect of
himself or his servants, it would be-
forced to answer that he was only re-
quired by law to have charge of the
specific moneys paid into tie state
treasury and not paid out and to faith
fully care for them i'll the appointed
place.
Senator Villas then dwelt Oh the du-
ties of the state land commissioners,
the governor, secretary of state and
treasurer, and their duty, which he
said they neglected. of properly in
vesting the funds Of the state. The
sum of their dereliction said ne, is.
that during the entire terms of both
the Sc officers there was of public
moneys continually available for III,
vestmcnt, an average balance of about
1000, or over; that it might readily
have been invested according to law
to al excellent profit, much greater
than they derived by the course they |
took; but, instead of so employing it |
as their duty required, they loaned it |
to various banking corporations and
firms in the state, nearly forty in nun,-
Der, in the form of deposits, but with
agreement to pay interest; they col
lected interest amounting altogether to
above quarter of a million of dol
lars, and put it, not into the treasury,
but into their own pockets!
The defendants have taken the !
ground that no interest was received |
by the defendants, the ex-treasurers |
from the banks for the use Of the |
states money. It was a "cOmpensa-
ton or gratuity to the treasurer; the
payments were ''gratIGtous and volun-
taly, and were made to the treasurer
Individually for his own personal use,
and not to him officially for the use
Of the state" Mr.. Felker dareS to say
the money was not paid as interest.
or understood by anybody to be such.
1t was "a perquisite OF gratuity to the
defendant personally" And, ''the
court below took the liberty Of assum-
ing that the fund sued for was interest
which had accrued for the uSa of +hn