The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-10-22
TO KEEP THE MONEY AT HOME.
Land Commission Asks That State
Marranta ne Presented.

Special Dispatch 10 the Post-IntailIgencer
OLYMPIA, Oct. 2i.-The following ap-
peal TO the patriotic instincts of the state
offers and employees was yesterday
adopted BIZ the state board of land COM
missioners.
ITO State Officers and Other State En-
ployes: The laws Of the state provide that
this permanent school fund. as Il accumu-
lates tn the hands OF the state treasurer.
may be invested In state warrants at par.
This is an excellent provision for many
reasons State warrants are the very best
OF securities: the interest which they draw
Is greater return for the investment.
taking into consideration the absolute Sc
curity OF such investment than can be
realized from other sources. and provides
a good income for the current school funds
of the state. And tho further excellent
reasonable greater the income from the
permanent school fund, the proportionate-
ly less sum is required from general tax
alton for the support OF the common
schools Of the state.
The continual investment of this and
other state funds in state warrants tends
20 retain this money within the state. But
when such warrants are sold to the banks
and others who deal in such securities,
they viii soon thereafter find their way
East, and then the principal as well as the
interest which accumulates must. when
paid, be sent out of the state.
Every employe OF the state should con-
slider IL A duty. as well as a privilege. to
do his part towards keeping the several
luuGs OF the STATE wei invested. w men ne
receives par for the salary he has agreed
70 accept from the state the latter has per
formed all Of the contract that can be
reasonably expected from It In this par
ticular. Besides Il should not be forgotten
that IL the last legislature had not made
provision for the investment of the tide
land fund as well as the permanent school
fund, state warrants would not have COM
manded he premium that has since pre-
vailed.
commissioner of public lands. the attor-
ney general filed an opinion 10 the effect
that the treasurer should pay warrants out
OF moneys In these funds whenever they
were presented TO him for Endorsement or
payment This method Of payment was
not such "a the banks desired. so a test
case was made up and taken to the su-
preme court. In the opinions filed In this
Justice Scott and Judge Reavis sustain
the attorney general. while the other mem
bers hold that II Is optional with the hold
Invested BY receiving cash for it or
whether he shall require the treasurer 70
indorse Il Not paid for want OF funds. Il
viii n keia With they the yasinissfaton and in
dorse Its efforts to carry out the will of
the last legislature. and thus keep the per-
manent school as well as other state
home.
This may be done by the employees of
the state forwarding their warrants direct
10 the state treasurer, c. w. Young. with
the request that they be invested as above
suggested. This the state treasurer Will
do and remit his check for the amount of
the warrant direct 20 the holder thereof.
or otherwise. as the latter may advise.
The undersigned appeal to every en-
ploye OF the state 10 be loyal 10 It's best in
terests. Prove by your acts that you do
not propose 10 be party 10 the conspiracy
In the attempt to defeat a Just provision
OF iaw--thSt the paltry / per cent or any
other premium which IL offered by the
banks and other dealers In state warrants
can not induce you 20 become a partner
IL the crime OF filching the state in any
amount whatsoever. Do not forget the
taxpayer. Have an interest In his welfare
and 30 your utmost 70 tighten his burdens
which you can DO very materially by as
sisiing the state n - effort 10 keep tho
permanent school and other state funds
continuously invested IN state warrants
THE BOARD OF STATE LAND COM
NISSTONERS.
olympia WASH Oct Is 1877