Evening journal., 1899-01-18
ROSS AND THE BANK.

ing his lnjunctions relative to the dis
position to be made Of the slate funds
entrusted to their keeping. The joint
committee appointed by the Genera
Assembly has made thorough exami-
nation OF the matter, and it finds that
the discrepancy OF about $4,000 be.
tween the books Of the state treasurer |
and those Of the bank was due to the
bank paying out to school districts
that amount without warrant from
either the state treasurer in that Ca
pacity, or as trustee Of the school
fund, those being his offices in rela-
tion to the State Of Delaware. State
Treasurer Ross has been an exemplary
official. No blame whatever attaches
to him. Members of the legislative
committee, regardless Of party, declare
that they have never. in all their ex-
perience seen books better kept. They
are correct In every particular and bal
ance TO the penny. Every dollar Of the
state money is accounted for by him,
and not one OF his vouchers is miss
ing. His bank book shows what he
has deposited and his check book
shows what he has drawn out. Those
checks, and the vouchers accompany.
ing them, demonstrate clearly the pur
poses for which they were given. Com
pairing the two it is found that about
s20, 900 which should be IN the bank 10
the states credit is not there. II
has not been stolen, or anything OF
that kind, but transferred from the
credit Of the state to the credit Of the
school districts without warrant from
the state treasurer or trustee Of the
school fund. This Is what has caused
all this fuss and feather and placed
State Treasurer Ross before the people
as man who did not know how to
administer the affairs Of his office. II
the Farmers Bank officials had not
been 50 officious; II they had attend
ed to their own business; II
their eagerness to reap discounts
from school district moneys; II they
had obeyed the express orders Of State
Treasurer Ross. there would have been
none of this trouble. They, and they
alone, are 10 blame, and they will be
fortunate, indeed. II they escape cen.
sure at the hands of the committee.
The people OF the STATE own two
thirds OF the stock OF the Farmers
Bank and its several branches. and
they are interested in seeing that ifs
affairs are properly conducted and fol
the best interest OF the state There
is nothing in either the OLD or the new
Constitution which makes the Farm
ers' Bank either the state treasurer OF
the trustee Of the school fund. II is
merely one Of the places OF deposit for
The states funds. and holds To the state
treasurer and trustee Of the school
fund the same relation that it does tC
an Individual deposltor. The bank Is
not responsible fer the fidelity Of the
state treasurer. He and his sureties
bear the sole burden OF responsibility
Nothing but officiousnees could have
led the bank officials 10 make
such a blunder. They evidently forgol
for a time their relation TO the state
treasurer and came to believe thai
they were the custodians OF the state
funds, and that Treasurer Ross was
merely sort cf a financial agent. OF
connecting link between the two. They
have discovered their mistake. Stat,
Treasurer Ross knows his duties ant
his prerogatives much better than they
know theirs, and il is to his credit thaf
he has refused to be either browbeateI
or cajoled into acknowledging a blum
der to which he was not party.
When he ordered the bank to place
so much money to the credit Of thl
schools Of New Castle county; so mucl
to the credit Of the schools Of Ken
county, and SO much to the credit O
the schools Of Sussex county, Il wai
their business to do 1t. and to ask n,
questions. When they followed his in
structione their work was done It wa
his TO dictate to them; not theirs &
dictate to him or TO disregard his or
dens, whether express OF implied. The.
were the favored parties. While tn
skRte owns two-thirds of the stock o
the bank, 1t must not be forgottel
that the remaining one-third is owEe
BY private individuals. and that the
are the direct bsnehciaries Of at leas
one-third OF the earnings Of the stat
funds placed there on deposit. If W
are not mistaken, a critical examina
tion OF the motives which impelled III
bank officials to overstep the bound
cf decency and safety will disclose tha
this private interest was their main
spring
We advise State Treasurer Bal
whom We know and respect, while nc
IN poMtical sympathy with him, I