Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1904-03-31

two things, ELMER diio" thc 0o"''.
treasurer to handle the county funds
collecting same and paying them
out as per law and the order OF the
commissioners. in which case the
treasurer is absolutely responsible
for every dollar, giving to the com
missioners an ample and sufficient
bond to protect the county against
any possible loss. In this case the
treasurer will deposit the money as
he sees fit in the various banks in
the county. and the sole C OF
the commissioners is to see that the
treasurer's bonds are kept good. No
interest however is received on daily
balances.
On the other hand the commits
sioners may take the funds out OF
the hands of the treasurer, thereby
relieving him of any responsibility
whatever to the tax payers for the
safe keeping of its money, and place
same by bids in various banks, at an
interest rate of not less than two per
cent on daily balances.
In this case the responsibility
rests with the different banks hold
ing the funds who protect the tax
payer by five surities each. BY this
system the county auditor also gets
a finger in the pie, the funds passing
through his hands before reaching
the banks, and the treasurer becomes
a sort OF an auditors assistant.
Neither the one or the other is, how
ever responsible to the tax payers
for a cent, while the funds are sup
posed to be in safe keeping.
There are in the county twelve
banks, and if each received a por-
tion of the county funds, there
would be sixty bondsmen for the
county commissioners to keep track
Of in a financial way, for it must be
remembered that banks as well as
sureties sometimes 90 bankrupt and
an institution or an individual that
is solvent today may not be SO in a
month, and thus would be placed
upon the county commissioners a
grave and tedious responsibility, far
in excess of the attention and require
ments they are usually able to
devote to the county's interests. II
however they could spare the time,
they would have to be paid for their
services, or hire others to do it.
Now as to the actual gain to the
county should the interest propo-
sition have been accepted.
Assuming the banks bid the mini
mum OF two per cent for the money,
and taking a normal year, say 1902,
when there was no special fund like
that of the court house on hand, the
average daily balance of the treas
urer will probably be from $4,000
to $4,000. This would if all was
bid for, produce an income to the
county of from 5000 to $500 per
year. The Worlds estimate was
$1,000 per year.
Now as against this would come.
First--the extra assistant which
Auditor Egeland stated he would
positively require, at a salary of
from $500 to 5000 per year. Second
the extra time Of the commission
ers or others they might hire, look
ing after the financial condition of
banks and sureties which would
without doubt cost the county sew
eral hundred dollars per year,
besides the cost OF bank drafts.
stationery etc, which the banks uow
furnish the treasurer free of charge,
so that in the end the county would
be just as likely to lose a hundred
or two hundred dollars as to gain
this sum.
The county commissioners by
majority vote saw fit to adopt the
first proposition, thereby allowing
the treasurer, Mr.. Wickre, to be
treasurer instead of a tail to the
auditors office, making him abso-
responsible for the funds, and
allowing him to deposit them in the
various banks in the county to the
convenience OF the office and tax
payers generally.