Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1903-08-17
SUGGESTS SPECIAL SESSION.
CasheI Of Grafton Thinks q
Special Session Of the Legislature
Could Relieve Institution Strin.

Grafton News AMI Times: The recent
'eci ion of the Supreme Court. invalidat-
Ing the Institution bonds passed by the last
legislature. Il a very important one to
the state at large. and especially so TO
the in>titrtions having buildings under
process OF construction. and there is a
great deal of speculation on the probable
outcome. y representative of the News
and Times recently called on Senator ]. |
l.. Cashel. of this city. and asked him TO
state his views on how to overcome the
existing conditions. The senator said:
THE decision is a positive and sweeping
one that invalidates all the Institution
bonds. This certainly creates an emergen-
cy which. in my opinion. can be overcome
hy prompt action and careful legislation.
The institutions that have buildings in
process of erection, and others that have
contracted debts in anticipation of floating
these bonds. are in bad condition and
should receive speedy relief in order not
10 impair their progress, and also to pro-
tect the credit of the state. We have
plerty of resources If only resorted to
through the proper channel-lcgislation.
BY converting the legislature in extraordi-
nary session we could make available this
year. over the appropriation made last ses-
sion. s2o0. 000-from which appropriations
could be made TO relieve the institutions.
especially those that have building under
way.
Prior to the converting of the next
regular session of the legislature the fund
conl1 be increased from $500. 600 to prob
ably 100000 more. according to legislation.
outside of the tax levy. thus practically
covering the invalitr1ted bonds. excepting
the capitol bonds. which can he taken care
of in another way. The extra session
could pass. the first time. a Constitutional
Amendment extending the debt limit.
which could be passed the second time at
the regular session. when it could he sub
nitted to the people IL an early election.
thus saving two years in accomplishing
this purpose.
II notice an item going the rounds of
the press that there is some talk of calling
a Constitutional Convention. I am at a
loss to know just how that can be done.
The constitution is silent on that point,
while section POP provides for amendments
to the constitution.
another very important matter. it
seems to me. tina should be looked into
carefully. is the protection Of the common
school and Institution funds on hand.
January list. 1873. according to the gov
errors message, there were in these funds
$SGl, 500 81. awaiting Investments. Section
us of the 80 code provides for the state
treasurer's bond, $780, coo. Section 237 pto-
vi9es for state repositories. which says.
"All the funds of the state shall be depos-
tied by the treasurer in one or more desig-
mated national or state banks in the state"
Funds so deposited bear interest and the
treasurer and his bondsmen are relieved
from liability should any of these banks
fail. OF course. each bank gives Il bond
to the state TO indemnify it in case of fall
re. The question arises. are the common
school and institution funds state funds?
If not, can interest be collected on them
in these repositories and will the bonds
given by the banks to the state protect the
funds
"A session lasting not 10 exceed six days
should give ample time in which to pass
all needed legislation by having the neces-
Sary bills prepared in advance