Semi-weekly register. (Brookings, Brookings Co., S.D.) 1894-1898, 1898-10-28


sent several republican rogues to the
penltentiary-all cone under the
blight" of populism Washington state
tells the same story, decreasing her pub
lie debt S587,271.47 in the last eighteen
months under complete populst con-
troll Her warrants are now ut q pre-
MUM, her public servants are paid in
cash and her'public treasury is increas-
ing its surplus. The last fourteen
months of republican management in
that state increased the state debt S91S,-
213.l2, or little more than 81, ,22O per
day. The first eighteen months of pop
ulist rule reduced the state debt 81 900
per day. This record is one to be
proud of.
In very large number of South Da-
kota counties warrants were at a dis
count and debt increasing when the
populist party was organized. Gradual
ly we gained control of county boards
The result was magical. Debts were
paid, expenses reduced and warrants
brought back to par. What is the rea-
son for this universal record? 1t lies in
the fact that republicans have been
taught that debts are a BLESSING and
that expansion Of credits and payment
or interest are necessary ingredients in
the production of prosperity, whereas
the popuiist policy and creed is that
debts shall not be incurred if possible
TO avoid it. and that If incurred they
should be promptly paid. the sooner to
get rid Of the usury scourge.
TWENTY YEAR BONDS.
The republican legislature of 1890 af-
ficted with the party delirium to get in
debt for as long a term as possible pro-
vided for the issuing of 100000 in
bonds, making them run for twenty
years in fiat violation Of the constitu-
tional provision which limits the term
of all bend issues to ten years. At the
last meeting of the board of equaliza-
tion the governor brought the subject
up and suggested that as the bonds were
clearly unconstitutional and as there
was more than enough money in the
treasury available to pay the bonds il
would be to the credit of the state to
take them up. and save about eight
thousand dollars in interest. The
treasurer agreed to negotiate for the
bonds but has not yet reported the re-
suit Of his negotiations. The selling of
longtime bonds and the accumulation
of vast sums of money in the sinking
'und is a great temptation to treasurers
to profit from their deposits. The pres
sent treasurer has been accused and has
not yet denied receiving interest on
state funds, but has attempted to evade
the charge by declaring that he has not
loaned the money. He makes fine
distinction between loan and deposit
which draws interest. but he will not
deny that he has profited largely. prob
ably to the extent OF $50, 900 during the
last four years, on the peoples money
under his control.
The treasurer last statement shows
that he now has on hand in banks the
following sums of money:
Illinois Trust & Savings
Bank Chicago, Ill. ...... $255, ,254 IA
First National Bank, Pierre,
S. D. Observation-Disclosures. 24,621.33
First National Bank, Dead
wood, s. D. .............. 21,5OS.72
American National Bank,
Deadwood, S. d. ....... 6S,7S296
National Bank of Commerce.
Pierre, S. D. ............ 19,9O492
Pierre National Bank,
Pierre, S. d. ............. 1884 90
First National Bank, Lead,
S. D. ...................../ 100000
Bank of Spearfish, Spearfish,
S. D. ....................... 100000
Bank of Weare &c Allison,
Sioux City, Iowa. ...r..... 10000 90
Total cash .............. S441 ,467. 90
For two years prior to July 1st, 1898,
the treasurer had on deposit in the
Bank of Weare & Allison $20.112.79.
During this time the amount of the de-
posit did not change penny. See treas
urer's official reports to the governor.
His bank balances are seldom less
than this, and the worst feature of the
practice of keeping such vast sums of
money on hand is that it is constant
temptation to any treasurer to defer the
payment of matured obligations in Or
der to draw interest on accumulated