The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-12-08
A SCATHING REBUKE.
Council Cauterized by One Of
the Charter Committee.
THE BANKING OF CITY MONEY.
Amendments Adopted Requiring Inter-
est Upon Deposits Of Cisy Fasds-
Cissins sessesos.

q member of the charter revision commit
tee for the reason, as he stated. that the
city council ignored all measure Of public
welfare His letter is as follows:
Owing to the fact that the council has
refused 10 present various propositions TO
the people as presented by your commit
tee. among them being three which would
receive the Endorsement of ~ least ID per
cent of the voters at the coming election,
and il appearing TO me that various men,
bers of the council have decided TO ignore
all measures OF public welfare, il seems
utterly useless TO devote any more time to
the discussion of other proposed amend
rnents, and !, therefore. tender you my
resignation as . member OF the revision
committee. Thanking the members OF
the committee for their individual assist
rectiy on the interests OF the working
classes. remain, etc.
The res ignation was accepted, but As the
labors of the committee areobout over no
successor was elected.
The members present were Chairman
Drew, Mayor Ronald. Corporation Coun-
sci Donworth. ex-Judge Wood, Alderman
Cram and Dr. Crichton. Alderman Jor-
dan was present for time, but lett the
room looking very weary. The absentees
IL
man Ingram and w. g. Armstrong.
An amendment was passed providing
that street grade assessments made upon
the deferred payment plan may be paid in
full prior to the issue Of local Improvement
bonds. This will not take the place of the
ten-year bond system. but modifies il 90
that property owners can. if they desire,
have their property cleared Immediately
of the lien.
The committee then took up the finan-
cial scheme, which provides that city
money deposited with banks shall draw
interest at the rate of per cent. upon bal
ances and per cent. upon time deposits.
1t also requires deposit of all money re-
ceived by the treasurer in the repositories
designated by the city council, except that
he may keep on hand not to exceed 5000
for current disbursements. Accounts with
the banks must be kept in the name Of
the city. The comptroller must counter
sign all drafts made by the treasurer.
Considerable discussion took place over
the details, and IN the end Mayor Ronald
said that at first he had been in favor of
the plan. bat after listening to the argu-
ments he had come TO the conclusion to
oppose the whole scheme. Banks may
not be dishonest, but they are subject to
the selfishness Of human nature. The
proposed plan would open the doors to
corruption. If, for instance, three men,
bers Of the council were in favor of one
bride two more. The city has been
burned, and for some time the city gov
eminent will be very watchful. He be-
lieved they had better make the treas
urer's bond $500, 900 and even more, but
place the power with the council TO hold
the treasurer more directly responsible
and subject to supervision.
Mr.. Donworth said there was consider
able force in what the mayor had said, but
it seemed to him that he would sooner
trust the city council TO select the deposit
tories than the city treasurer He had
reasoned that the council should lave a
concrete proposition before il and give that
body a chance to consider all sides of the
question. For that reason he would sup
port the amendment.
DIR. Crichton said the paramount idea
was to require the banks to paw interest
for the use of public money. He had con-
suited many charters. especially of wide
awake cities, and they had all adopted the
plan.
Mr.. Donworth suggested that money
should be drawn from the banks rs needed
for payment of warrants on checks to be
countersigned by the comptroller. He
also moved to amend so that the interest
should be 8 and 4 per cent. and not leave
the way open for weak banks to bid a high
rate of interest and SO keep out strong
banks. The time deposits would be repre-
scented by demand certificates, but If money
was left for three months the higher rate
of interest should be paid. He also sug.
gested that all warrants for sums over
800 and for salaries or wages should be
paid by check.
The amendments were adopted.
The remainder of the amendments to
the financial article. while of importance,
were mainly relating TO routine, and con.
siderable time was devoted to formulating
q system of checking, so that the city
comptroller and finance committee should
be always kept on the alert as to the in
vestigstion of the correctness of the treas.
urer's reports.
7 On motion of Mr. Wood q provision was
added requiring the treasurer to daily re-
port the balances at the several banks
and the comptroller TO certify to the bank
balances and the amount of cash in the
treasury.
Mayor Ronald renewed his objection to
the bank scheme. He warned the CON-
mittee taat the policy of competing banks
TO back candidates for city treasurer
would DO removed to the backing of mem
bers of the city council. The experience
of the past satisfied him that il would only
pave the way for corruption. He op-
posed it.
Mr.. Donworth said he would vote for il
in order to bring il before the council.
The amendment was then adopted.
A proposition was submitted which re.
quired the board of health TO aid the
necessitous. but Mayor Ronald said Mr..
ponworsh's written opinion disposed OF
that matter. and Mr.. Douworth added
that there Was ample provision made by
the state law. IL vas accordingly voted
down.
The repor; of the finance committee
adversely 10 the proposition to abolish the
Office of city comptroller was adopted.
On motion of Mr.. Wood lt was resolved
TO amend the charter so that hereafter
amendments will only need majority Of
the council. and not two-thirds, as now,
The council will meet on Saturday night
tor the last time.