North Park union., 1901-07-19
STATE TREASURER CHIPLEY
PRESENTS HIS STATEMENT

by the internal improvement iunu vi
the state, and We're afterwards soiu U!
the state under Il special act OF the Lee G
islature. (see session laws 1881. p. 4o),
in order to place cash In the shid iunu
for Improvement purposes; thus ny III!
action, the state only paid an hones'
and legal debt, which 1t was douDly op-
ligated to pay.
For the payment OF these warrants
there has been In the First Nnuonai
hank OF Denver for the past twelve
years, $4,000, and for part OF ina,
time great deal more. which couia ho'
be used for any other purpose WHIT
ever than the payment of these idehl-
cal warrants, and upon that sum INT
state has never received more thah tw'
and one-half per cent. interest per an,
mum, and from 1880 to 1S!H no lnteres'
mt all, while the warrants We're draw
ing six per cent. per annum all the
time. thus entailing upon the state u
loss Of not less than $1,000 every year,
and for many years $1,000 per year. by
paying these warrants. this loss To inc
state has been stopped.
There was no secrecy about theii
contemplated payment The exnminn-
ton by Mr.. Reed OF each voucher upon
openly and above board in the office OF
the state treasurer. The character Of
the examination as well as the object
to be attained by 1t. to-wit, the hndlne
out of what warrants were legal nnd
valid, and the payment Of the same,
was discussed fully several times be
fore the committee Of the Legislature
by Mr.. Reed. myself and others; the
opinions were obtained from Mr.. Reed.
the attorney generals office and from
Mr.. Richardson without any effort al
secrecy. and after many discussions
with them Of every phase of the case.
During the preparation Of their opin-
ions / also discussed the matter with
Ex-Governor Thomas, and he advised
me that l was safe in following the
directions of Mr.. Reed and the attorney
generals Office In the matter.
'''T'he warrants We're presented nj the
counter of the state treasurer during
business hours and We're paid by my
deputy ns any other warrants are paid
Oh my authorization.
'"I'he internal Improvement and
school fund OF the state held about SlS.'
600 OF these warrants. and were cred
tied with the account they owned, botL
principal and interest in full.
My action in paying these warrants
consider nUt only II legal one. but alec
Il good one for the best interests OF the
state. nnd ] am willing to rest my vim
dication to the Judgment of the tax
payers, who have had TO suffer this loss
for the past twelve years.
II would also state that my bonds
men have informed me that their at
tcFueFs have advised them that said
warrants were legal and valid. and that
my action in paying them was strictly
according TO law. In which opinion they
now concur. and further stated tha1
any opposition which they had felt and
shown at first. had upon careful inves
tigntiOn. been entirely removed.
In all public positions ! have held
either by election or appointment.
have always had the courage to act as
seemed 10 me for the best interests OF
the people regardless of the adverse
criticism that my action might cause
from persons or political enemies. The
path OF duty seemed straight and clear
in this matter. and II would have beer
cowar,ily on my part TO have sliirkeG
the responsibility. and have no apollo
giles to affer. and no regrets to express
for doing my duty TO the taxpayers OF
this state.
81 have given a 81 .OOO.OOO bond to tho
people Of this state for the faithful per
formancc OF my duties. and If any on,
doubts the legality OF any warrant
have paid. let them bring suit in the
courts. and II the illegality is estab
lished stand ready TO make 1t good.
''All Of which is respectfully submit
led.
Very truly yours.
y. y. CHIPLEY.
.'CrCuSurrr"