The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1893-07-11
Public Money in Private Use.

There is q rumor to the effect that a
large amount of public money, that ought
to DE in circulation, is being held for the
benefit of a private banking institution
which has the use Of it without interest,
to the general disadvantage. 1t is stated
that hundreds of thousands of dollars
paid to the territorial treasurer from the
taxes are deposited in bank and people
who hold auditors warrants cannot OBJ
tain a dollar of the money which is their
due.
II has been asserted that the bank which
failed at Provo could have held up its
head and tided over the food which
engulpted it, if it had been able
10 cash the territorial warrants it
held and had advanced money upon. But
while payment was denied, it is claimed
there were vast amounts belonging to the
public held at the bank where the treas
urer makes his deposits.
These reports do not help to establish
good feeling nor 30 promote confidence.
1t is proL.-ble that there is some founda-
ton for the rumors, but not to the extent
supposed. And we do not know how the
matter can be helped if the law is COM
piled with, as we presume it is.
All warrants drawn by the auditor OF
public accounts on the territorial treas
urer are to be paid in the order OF their
presentation and registry. When a war
rant is presented to the treasurer and there
is no money in the treasury that
officer is required to endorse on the war
rant, ssnot paid for want of funds, - with
the date of application. He must also
register the particulars in book. These
warrants must then be paid in the order
of their registration. This is provided in
section q OF the act in relation TO terrific
rial offices, page 254, vol. one, compiled
laws.
II there is q large amount of money in
the territorial treasury unused except by
the bank where it is deposited, that is
wrong. especially In these times of finan-
ciai stringency. But under the law it is
possible that such a condition may exist.
There may be applications for money
which have been registered and when re-
fused for lack of funds the applicants
may think there is no use in ap-
plying for Q long time. Their
applications viii then stand in the way
of those who applied later, and money
may thus accumulate which cannot be
paid out except in the order OF the applica-
tions.
The registry hook is or ought to be &
public record. As such it should be oper
to inspection at reasonable hours. The
applications should appear therein in
their order. It ought not to be difficult
TO find out how they stand nor how much
money has been paid into the treasury
The public have a right &c this informa-
tiou and we presume it can be readily
obtained. And this should be clearly
understood: Early applicants for the
payment OF territorial warrants should
get their money If there is any in the
treasury, and then they will no.
stand in the way of later ap.
pIicants as long as the money lasts
Il is very clear that what money is il
the territorial treasury should be dis.
bursed. 1t is proper that it should b,
banked, but not that any banker shoulc
have the use of large amounts, while peo.
pie to whom money is due are pressed t
the wall Tor want of it. The HERALI
does not say that anything improper il
being done in the matter, but the publ,
should understand their rights and at tn,
same time there should be no blame at
tached where it is undeserved.