Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1894-08-09

much stress was laid upon the fact
that at the close Of the fiscal year end
ing Sept. SO, the statement of the sec
rotary Of state and treasurer showed
! balance in the general fund of the
state of S640, 22S.12, as against bal
! ance ON sept. 80, 1890, republican year,
! of S345,S95.03. This was a fattering
/ showing to go before the toiling
! masses with and it was not without
I its influence upon the voters probably.
The next year there was no election,
and Notwithstanding that there was
an increase in taxes from railway
companies, the interest on the public
funds deposited in banks, the large
payments on treasury judgments, the
tax levy for the year was in excess of
S1,OOO,000 and the atteSted statement
of the secretary of state ard state
treasurer for the fiscal year ending
Sept. 80, 1898, made the following
interesting exhibit for taxpayers:
Amount on hand at last settlement.
Sept. 30, 1892. ......... S640, 2SS.12
year. u,OO9, 81
Total. ................ s., 249, OH. 90
Total disbursements for.
year. OBSERVATION-DISCLOSURES. LIS6, 0Ol.J5
Amount on hand at settle
ment, Sept. 80, 1893. -. S463, 04141
III other words, during the panic
year of 1893 Chairman Wallis honest
and efficient adminiSra ton of public
affairs succeeded in spending S177,-
1861 more than it received, notwith-
standing a large increase in receipts
over those of republican years, and
reduced the balance il the general
fund at the end of the year by that
amount and nearly to what it was in
September, 1890. People who believe
that this same administration has
saved three-quarters of a million dol
lars to the taxpayers of Wisconsin this
year. ont of possible million, must
needs be advocates of that other demo-
cratic theory that 1.-The consumer pays
the tax"
One interesting fact demonstrated
in Chairman Wallis little campaign
story which is not made as conSpicu-
Gus as its importance warrants, is that
the taxpayers of the state have made
enormously greater profits by allow
ing republican treasurers to rob the
state" by taking the interests on the
public funds deposited in banks than
they have by Honest John Runners
system of uepositing the funds in
banks in the states name. To make
it plain, quote the respective sums from
this source under republican and demo-
cratic treaSurerS as given in Chair
man Wallis statement of where the
surplus in the general fund was de-
rived from:
Recovered in judgments
from former state treas
urers to the credit of the
general fund. ....... $321, 9O2. 30
Interest from bank de-.
posts. ................. 46,644.IS
This means simply that the repub-
lican eX-treaSurers and their bonds
men have paid to the general fund as
interest on deposits of public funds
in banks for period of twelve years
about seven times as much as Hon
est John Hummer has returned to the
state general fund during G little less
than four years. Of course, this great
excess comes largely from the fact
that the eX-treaSurers were called upon
to pay interest upon the interest at
the rate of 6 and per cent, although
the state funds in banks never paid
but B per cent. and, under the direc-
ton and Threats of democratic
bankers, the funds are now placed by
the treasurer, with authority of the
administration, to draw only = per
cent. per annum. 1t is well to remem-
Der also, while the organs are calling
the bondsmen who have paid these
great sums, of which they never re-
received any part, something akin 10
thieves and swindlers, that the in
justice Of the state holding them for
a rate of interest more than twice as
great as it receives for its moneys il
banks was so manifest that an effOrL
was made by the last democratic legiS-
lature to authorize a compromise 10
enable them to make good to the state
lost. The measure was of democratic
origin, and was advocated by Chair
man Wall, by his organ, by such demo
Gratis as Col. Woodward of La Crosse
and by many of the most reputable
democratic newspapers in the state.
The act was defeated by Attorney
General O'Connor who had other in
tereSts than those of the taxpayers to
prompt him to oppose taking the cases
out Of court, one of which may or
may not have been that his business
partner was employed as assistant to
try the cases, has already collected in
the neighborhOOd of $4,000 from the
state for the time he has devoted to
the cases, has indicated that his
services might be worth $4,000, and
has not found occasion to press the
matter to final settlement since the
subject was agitated some months
ago. Senator Villas was also assO-
ciated in the cases and although he has
done nothing in the matter for years,
and has presented no bill there ara
plenty of people who are confident that
no will do SO as soon as convenient