Courier Democrat. (Langdon, N.D.) 1891-1920, 1896-10-29
SITE FINANCES.

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! FARGO, N. D., October 27th.-
Elk. Public Examiner Peabody yes
ierday returned from Bismarck,
where he has been to look up the
much boosted "brilliant financier-
ing" of this administration, and
reports that Treasurer Nichols fiat
ly refused to allow him to examine
or see the books in reference to
the $4,000, of revenue and fund
ing warrants illegally issued when
this administration came into
office. This is the first time that
any Treasurer ever refused to al
low n citizen and tax payer to see
the books. The cause Of IT all is
that it has leaked out that the state
is in worse condition financially
than it was two years ago, and their
refusal to show the books is tohide
the facts until after election. -
It will be remembered that when
the Republicans took Office there
was q deficit of about 100000. To
meet this deficit funding warrants
to that amount were issued. An
other batch of $4,000, revenue
warrants was also issued to- meet
the expenses Of the Legislature.
The funding warrants could not Se
foated in the east because they
were i'll excess Of the debt limit, so
a deal was made with the state
bankers to discount them ut from
Z to Is per cent, on the personal
guarantee of the officers to pay
them before they retired from Of
fee The July statement Of the
Treasurer showed that they had
fallen $4,000 short Of paying the
$4,000 of revenue bonds and not
a dollar of the funding warrants
had been paid in the first eighteen
months of the administration.
They had thus fallen SIS, 900 short
of paying running expenses, SO
that it seemed physical inpossi-
bility to pay the. Sl30,000 of the
funding warrants as guaranteed,
because it would take almost all
the revenue Of the state, and so
leave nothing for running expens-
es. If this was so, the state was
in worse shape financially than it
had ever been and there would be
bigger deficit than ever: Failing
to'get any authentic statement, this
investigation was set on foot, re-
sulting in. a point blank refusal to
let the public know anything about
it, though any citizen has the legal
night to,see these books on de-
mand.. This. has created great
sensation.
Mr.. Peabody was; guaasted access
to the Auditors books, before 60
ing to'the 'rreasurers office, and
got some figures that show up the
present administration in anything:
but favorable light. Instead Of
an apparent balance. ON hand July
first, last. Qthe books bad not been
posted since then OF 1926, 1874. ~
the general fund of the state was
overdrawn S2,53Z6S The $780,
534.27 belonged to the funds that
are not available for the state. It
was found that OH June 30th the
permanent school fund was allow
ed to accumulate, to the uDreason-
able sum of; S105, 1852, though
the law requires it to be invested.
1t was shown that there were ap-
plications toinvest 800, $50 but they
only invested $4,000, while the
preceding Populist administration
invested SlS3, $4,000.
Mr.. Peabody also gathered
figures for comparison of IT,
ceipts and disbursements of the
two administrations so far as could
be under the change il the begin
ming OF the fiscal year. On the
fgeneral fund it is as follows:
Paid out in 81 months OF &
/ Alliu administration Jan