The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-07-12
Those Territorial Funds.

When there is 2 public rumor that
causes distrust and mlsapprehension the
best way to bring the matter to head is
to give it vent and find out what there is
10 it, so that if there is anything really
bad that ought to be cured it may be seen,
and if not that the rumor may be dissi-
pated.
1t was for this reason that The HERALD
made editorial comments on the current
report that large amount of money, re-
ceiVed by the territorial treasurer, was
withheld from persons holding territorial
warrants, and used by a banking institu-
ton where the money was deposited. At
the same time we explained the law in re-
lation to payments in the order of appli-
cation and registry, and showed the
possibility of some money being on hand
without any violation of the law.
The territorial treasurer has placed his
accounts at our inspection, SO that the
facts may be made known to the public
and ali misunderstanding concerning the
territorial funds may be removed. From
these it is evident that the reports in cir
culation are incorrect, There are no
funds in hand Tor general territorial pur-
poses. Every warrant for which there
has been money to meet it has been paid.
The register is complete and is open to
any one who wishes to examine it. 1t is
tabulated and easy to comprehend.
On July 1st there was in the territorial
treasury the sum of $40, 1908. But none
OF this is available for general purposes.
1t is all held for schools, court funds,
court salaries, ETC., under provisions of
the law. The first warrant registered
and unpaid is No. 1874, in favor of the
Utah Sugar Works for S5,5S3. Under the
law, as we have previously explained,
that is the first warrant to be paid. The
rest must come in their turn. There viii
be no considerable amount of money paid
into the treasury until the taxes for 1893
come in.
Last November, when the taxes for 1902
were flowing into the treasury, there was
S2l2, 751. 60 on hand. That has ali been
paid out in proper order except the
amount we have named, which must be
held and disbursed tor the purposes
specified. The money in care OF the
treasurer is not deposited in one bank,
but distributed among several. The
rumor, therefore, to which we drew at
tention is incorrect, both as to the
amount on hand and to the place OF
deposit. No bank has monopoly of the
use or care of the public funds and there
is no large amount for anybody to use OF
hold. The treasurer is under heavy
bonds and may place the money where
he thinks best.
AS to the Provo bank which failed, its
application is duly registered. But there
We're sums aggregating more than $50, 00C
ahead of 1t and which must be paid under
the law, when there are funds to do it,
IL their registered order. Thus no blame
can be attached to the treasurer or other
public officer for the failure OF that bank
10 obtain payment OF the warrants held
by it and unavailable.
These explanations are due to the
treasurer, whose accounts are Kept in ad-
mirable shape up to date, and to the pub
lie who ought not TO be misinformed on
such matters and made to believe that
public money in large amounts is kept
Tor private use, az a time when every
body is pinched for funds, aud is there
fore ready to resent anything like I'M
fairness in the distribution of territorial
means.