Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1906-08-10

/, SIS IN that little thriving commun-
it,, voted 5000 in bonds in further
ace OF such object. The school dis
tIlct, embracing the town, vac led TO
believe and expected the money repre-
>cutcd 10y thee bonds would lee forth.
coming from the State common school
fund, but our County Treasurer, Ir,d.
Schomber, representing the school
board, vas politely Informed 10y the
state officials that there was no m ney
IN that fund applicable to such pur-
pose. The reason of this shortage
seems to be that recently the Board OF
state Land Commissioners purchased
SGUO,C00 of the municipal bonds OF
Seattle from the money on hand in tie
State school fund, which constitutes
the second purchase OF that citys
( bonds for several hundred thousands
Of d"...ar- hy these Land Comm sion
crs. The later purchase was made
/ near the end o! the last State admin
/ istration.
| The question arises under the pres.
ent regime whether the State school
fund exists for the sole purpose of
helping Seattle dispose of its munici.
pal paper that it cannot convenient
ly place in the money markets of
this country? Whether this condi-
ton followed from the depression Of
the market with regard to the sale OF
such paper, or that the bonds might
not pass the scrutiny of competent
lawyers, will remain a problem with
the general public till further en-
lightened.
This fund, if justly and prudently
disbursed, ought to be so administered
as to assist struggling districts in this
State, and thus promote the welfare
OF our common school system.
If those Seattle bonds were legal, it
seems to us that this proud city ought
to experience little trouble in dispos-
ing of its paper to private parties,
where outlying districts are deprived in
a great measure from marketing their
securities advantageously, thus having
right to call on the proper State Of
ficials for help in this respect.
The State general fund, from time
to time, has been making generous
, contributions for the benefit of the
State University at Seattle, with the
promise that this fund shall be REIN
bursed when the university lands
have been sold, with which agreement
the regents of the institution do moi
! propose to comply. If this position
be correct, the members of the Land
1 Commission were fully advised, and
. should have hesitated, if for no Other
. reason, in making this last big bond
, purchase. As we understand the
y matter, this commission consists Of
I the Land Commission, the Secretary
, Of State and the Superintendent oil
, Public Instruction. The law ought
to be amended and the constitution,
, if necessary, should be changed to vest
such authority in the Supreme Court
of the State, in order that the validity
OF the proposed bond purchase may
be settled in advance. This common
school fund is too sacred to be trifled
with. No chances should be taken in
its disbursement. The members OF
this high tribunal could not perform
any nobler or worthier function than
the protection of the educational
interests of the children of this new
commonwealth. If it shall be claimed
the court will be too busy to NEEDLE
in such mattera, it might dispense
with about one.third of the techni.
calities raised by attorneys, and the
cause of justice will not suffer by it,
and the best interests OF the youths
of the State will have been subserved.
1t may be said the matter of the
legality Of such bonds devolves upon
the Attorney General, who is the
legal adviser OF the Land Commission.
If this official should pronounce
such paper valid, the courts might
disagree with his announcement and
annul the securities, while proceeding
in the manner we suggest, this diff
Guilty will not arise.
The DOLLAR CAMPAIGN LIST
lChairman Sherman. of the Conprps