Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1900-01-17

much needed, ana should be provided at an
early date. ! recommend that the two blocks
mediately purchased, or obtained under con-
domination proceedings. Nothing viii be
saved by delay, and the erection Of substan.
erty may materially add to the expense.
Building and Loan Associations.
insufficient protection for the people Of
our state against reckless investments by
nonresident building and loan associations
repeatedly been brought to my attention
where the holders of stock In these foreign
associations have paid all their contracts
require, and thereafter assessments have
been made of more than % per cent. of the
withdrawal value. think 1t would be well
10 safeguard our people by somewhat more
advanced legislation on the subject.
Expert Examination of Books.
The statutes of tile State contemplate an
annual examination of the books of the vnri-
GUS State offices and departments, but fail
10 provide fund from which the services
incident to such examination can be paid,
AT the beginning of the yenr 1899 com.
Petent accountants were employed and the
fk Of several 1f the State offices care
amlnations amounted to $3.50, which has not
been paid for reasons above stated AS a
matter OF business protection. similar ex.
aminations ohght to be made annually, and
should be provided for by necessary nppro-
priations, l recommend an appropriation
sufficient to pay the expense already incur.
red. and that authority lie given the Execu.
tive Council 20 discharge similar bills In the
future
Interest on Endowment Fund.
BY the terms of the Federal grant of
mechanic arts the proceeds Of these lands
were made perpetual fund. and the State
Is required to make good any losses, and is
charged with an annual income thereon of
not less than 5 per cent. per annum The
statutes of the State require that this mon
ey shall be loaned upon mortgages bearing
exampled prosperity of the country, and the
Incident surplus of capital, have rendered 1t
Impossible to obtain the rate of Interest
treasury more than 100000 which the stat
ntory restriction as TO rates renders 1t I'M
possible to invest. and on which the State
of the Federal statute. recommend that
permission be granted to invest this fund
at current rates of interest.
Official Bonds.
The question of official bonds mpresses
me as worthy OF your consideration. The
operation OF guarantee companies within
this State Is authorized by law, and persons
charged with the responsibility thereof are
empowered to accept the obligation of these
associations and companies The facilities
for obtaining surety, without asking lndivid.
u ia, friends, being thus within the reach of
those elected to official position. renders II
more embarrassing to pursue the course
previously necessary. recommend that
snreties upon official bonds be procured at
pality served. maximum rate should be
fixed; and this maximum which the public
should be called upon to pay should be the
minimum at which any reputable company
VIII furnish bond of like amount under
the most favorable circumstances.
Governors Salary.
The salary fixed by law for the Chief Ex-
ecutiye of the State Is now $1,000. In add.
ton 1t has been customary for the General
Assembly to specially appropriate $500 per
annum for work on the Executive Council,
and $50 per month for room rent. This Is
mnnlfestly below the necessary expenses
of n family in the city of Des Moines main.
talned amid surroundings becoming the
office. Most of the States of the United
States have executive residences, furnished
and maintained largely mt State expense.
II this shall not be the policy of Iowa, SUI
tcient should be provided, | think, TO pay
the rent of a suitable residence.
recommend that the salary of the Chief
Executive of Iowa be increased, and that
such provision for suitable residence be
made ms may seem to comport with the dig
nifty of the State. This Increase of salary,
however, should begin Jan. 1902. 1t would
be Inappropriate to increase the salary OF
any officer during the term of Office for
which he has been elected.
In the confidence that the Twenty eighth
General Assembly will sustain the reputa-
tlon enjoyed by Its predecessors and as JUS
titled by the legislative history of Iowa the
foregoing observations are respectfully SUBJ
mitted,