The record-union., 1895-11-14
CARE OF THE CITY FUNDS.


The question of the custody of the
city funds has now pretty nearly mar
rowed to this one objection, namely,
that the city cannot afford to construct
a vault upon the property of another,
and 1t is not prepared to build one upon
its own property. This is stated upon
the assumption that the city, in order
to have a proper vault, must have it
within City Hall.
The error of this objection is two-fold.
The city may care for its funds without
a vault, and it may provide such care
without first building a City Hall. That
until City Hall is constructed the
funds may be well kept and safely in a
movable vault or safe that thereafter
may be utilized fully in City Hall.
goes without saying. That establish
ments and businesses handling more
money than does the city of Sacra-
mento, conduct their business and care
for their money upon such a basis is
true
There is in all this demand that the
law shall be complied with, no assault
made upon banking institutions, and
no one who has carefully pursued the
argument can come to any other con-
clusion. Our local banking institu-
lions are remarkable examples of con-
sentative and safe financial concerns.
They are not surpassed in the country
for integrity. They conserve and keep
at home capital that would otherwise
seek foreign investment; they conserve
home industries and home savings; they
are conducted and managed by men of
high ability and mistaken credit. For
anyone therefore to attempt to take
this important question out of principle
and comfort it into an assault upon local
institutions, is unwarranted by any
thing that has been said, or will be said,
in the course of the debate so far as the
Record Union is concerned.
The law requires that the city funds
be kept separate and apart from all
other funds; that they shall be and re-
main in the actual custody of the City
Treasurer, and that they shall be
handled by him alone. That law should
be complied with.
There is another consideration. not
one touching the principle involved ex-
cept incidentally, namely, that there are
funds reserved for possible calls by an
cient claims, which the city might use
to it's profit, and which are only re-
motely liable to call These, therefore,
are susceptible of being made banking
capital, and as such may just as well
be banked upon by the city for imme-
date necessities. Thus, there are re-
serves in the treasury which may he
safely used for the purchase of a proper
and ample safe for the keeping of the
funds. and the city viii be ready to re-
spond to calls upon the fund when the
call, if ever, is made upon it,
Rather than that the law should con
SlUue 70 De eNdueus lil6 L unueQ Dent
Commission might better furnish the
city with the sum necessary to procure
q suitable safe. But it is said that when
sole custody of the funds is taken by
the Treasurer, a Waterman will be
necessary. To this we reply that there
should be a watchman now That the
city records, documents and archives
should now have the protection Of
special watchfulness, and that the fail
ure to provide the necessary watch may
at any time visit upon the city loss
that cannot be repaired and that viii
be of infinite injury to the municipality
is undeniable. The city offices, with
their store of valuable documents and
records are now put at risk to which
no private business concern with equal
interests at stake would permit their
records to be exposed