Omaha daily bee., 1896-03-08
BREAegRs .,JrEAp.

The decision rendered last week by
the supreme court of Nebraska n the
now famous case Of the State against
cx-State Treasurer I'LL and his
bondsmcn, cnunciatcs some doc
trlncs THAI threaten in the very
near future to jeopardize the
safety of public funds, whether state,
county or city. Under IL former de
cision OF the court the payment of
money In the hands of Il state or county
treasurer at the termination OF his term
of office to his successor, could be
efectuated alone by the delivery of
that which the law OF the land rccog-
nized as money. Tho mere delivery and
acceptance of certificates Of deposit is
sued by n bank. upon which no money
has been realized. was not recognized rs
such II payment us would release the
outgoing officer.
1t is now declared by the court that
this definition OF the law was %abrogated
when the law providing for the deposit
ing OF the state aud county funds in
approved repositories went into effect.
1t is furthermore held that under en-
listing law tho word money may include
not only legal tender coin and currency,
but any other circulating medium, in
struments or tokens in general use in
the commercial world. The acceptance
by a treasurer of certificates of
deposits, checks and drafts, although
they may subsequently, turn out TO be
worthless, il made in good faith by both
parties amounts 10 Il settlement within
the meaning Of the statutes which will,
to the extent of the payment so made,
relieve the retiring treasurer, since the
state is not entitled to concurrent RENE
dies upon the bonds Of successive off
GERS to enforce the same liability and
whatever is in such case sufficient I'm
law TO charge the incumbent, will
operate per Sc to discharge his prede-
ccSsor.
Do the people of Nebraska compre-
bend the full import of this decision?
Do they realize the serious consequences
which are almost certain to follow?
Under this decision. the state treasurer
or county t%reasurers need not turn over
to their successors the money presumed
to be in their custody, providing they
can induce them to accept checks.
drafts. certificates or any other kind of
commercial paper instead of legal ten
der. And If their successors do like
wise there need never to be an actual
cash settlement and therefore nobody
will ever be able to trace up a defalca-
ton or embezzlement until years after
the culprit shall have been out of office
and his bondsmen have gotten beyond
reach of execution. This decision also
makes it easy and safe for treasurers
to farm out public funds to shaky banks
and palm off their cats and dogs as so
| much cash on their successors. The
only condition is that the incoming
treasurer shall be as smooth n rascal as
the outgoing treasurer and that the new
officer is willing to continue to do bust
ness at the same old stand and in the
| same way.
In other words, until some legislature
shall revise the law SO as to require
money and nothing else, Nebraska will
offer most favorable conditions for an
endless chain of defaulters, embezzlers
and INCONSISTENCIES In us state anu
county treasures. This is not an over
drawn picture, but a sober forecast of
what is sure to come unless men of the
highest integrity shall be selected as
%custodians of public funds by all our
political conventions.