The Middleburgh post. [volume] (Middleburgh, Snyder Co., Pa.) 1883-1916, 1897-10-28

wants on the state treasurer IN Ger.
t,.u matters. II Ia the duty OF the
ctd'. treasurer to receive and pay with
out delay all warrants presented to
him
ANNUAL REVENUES ACCOUNTED
FOR.
Fourth.-There was paid into the
state treasury from all sources during
the fiscal year 1896. 3l2,s3s.i 1879, OF
this amount there was transferred to
the sinking fund. Al provided by law.
336s,s1l.5o. There was returned to the
counties three -fourths of the state tax
on personal property received. amount
ing to $2,0SS, $500. thus leaving . bal
ance for general appropriation pur-
poses OF $40. .226, ,S2o.05. According to tho
testimony OF the state treasurer the
appropriation exceeded the revenues
OF the last fiscal year about $2.eoo, ,0o0
Although a large amount OF money has
been received and paid out by the pres
ent treasurer. there has not been any
loss TO the state. The Chester County
Guarantee. Trust and Safe Deposit
company at the time II went into the
hands OF . receiver had a deposit Of
state funds amounting to 100000, but
the persons who had given a bond for
the security Of this fund paid into the
state treasury the fun amount OF money
held by said trust company, and thus
relieved the treasurer Of any further re-
sponsibility in connection Herewith.
So far as your committee is advised
this is the only banking institution
having a deposit OF state funds that has
become financially embarrassed during
the incumbency OF the present treas
urer. According to the testimony OF
the state treasurer there was in the
general fund on Jan. 20 last, in the 81
repositories named by him, S2,sStloiSS
A list OF the banks and amounts de-
posted with each will be found in the
notes OF testimony, which Is made a
part OF this report This statement
does not include the sinking fund,
IN FIFTY SIN YEARS ENTIRE LOSS
TO STATE FROM ALL SOURCES
2s 10000 OF PER CENTUM
Fifth.-At the request OF the COM
mittee the state treasurer submitte1
a statement showing the annual re-
ceipts and expenditures Of the COM
monwealth from lS40 10 1896, inclusive
In this period, SS years the state has
received from all sources $fo,s7+s6l.1 g.
During the same period IL paid out
s407, ,lSl, 1855. The loss TO the state In
this time has been very small. So far
as the committee was able to ascer-
tain no loss has ever occurred by
reason OF the default OF a state treas
urer or his hondsmen. Several years
ago an item OF 81, <s26l. which had been
carried along in the sinking fund ac-
count, was dropped In pursuance Of a
resolution OF the board Of sinking fund
commissioners. This was done on the
opinion OF the attorney general, who
reported the item uncollectable. This
loss was the result of the old system
which allowed county officers TO de-
posit fees belonging 70 the state In such
home banks as were designated by the
state treasurer. Prior to 1880 the Bank
OF Commerce, OF Erie, was designated
as such q depository. The county offi-
GERS deposited TO the credit OF the state
certain fees Of ONCE. The hank failed,
and the state treasurer took the posi-
ton that inasmuch as the depository
was fixed under authority Of law he
was relieved Of personal responsibility
by reason OF any loss that might oc-
cur The claim was submitted TO the
court Of common pleas OF Dauphin
county, No. 309, August term, 1881, and
Il was decided that the treasurer was
not personally responsible, yet the fac;
remained that the state lost the sum OF
So, 4a26l, but this Is the only loss OF
any kind the state has suffered since
1870 Prior to that time the commit
tee could not obtain records giving the
exact data In reference to our finances.
The loss expressed in a fraction is about
% 10000 OF per centum OF the amount
received. II is very doubtful II any
banking institution in this or any other
country can show so small q percent
age OF loss In the handling OF money,
and Il will be seen that the recorls
made by the commonwealth and her
state treasurers, beginning with Almon
H Reed in 1910, and continuing down
to and including the term Of B. J. Hay
wood In 1896, is one in which every
Pennsylvanian may feel q just degree
OF pride.
NO INTEREST PAID TO THE STATE
TREASURER FOR USE OF
FUNDS.
Sixth.-Under the law neither the
commonwealth nor the state treasurer
are authorized to receive interest on
deposits lnasmuch as II has been al
legged that interest has been paid on
these deposits the committee deemed
II advisable TO investigate this ques-
ton The state treasurer cashier, as
sistant cashier and corporation clerk
all testified that no interest had been
paid TO them or any OF them on so-
count OF state moneys deposited in any
banking institution. The testimony OF
these officers refutes the charges that
state money mad been loaned for politI-
cal or campaign purposes that money
had been paid out OF the treasury to
persons who did not render service TO
the state, and that persons were re-
quired TO receipt for d larger sum than
they were entitled to receive. AL these
questions were directly asked by the
committee, and the answers were posi-
tive and unequivocal oeniais OF the
several allegations. In order TO keep
down expenses the committee deemed
Il inexpedient to subpoena officers Of
banking institutions TO appear In per
Ill -