The Denison review. [volume] (Denison, Iowa) 1867-current, 1906-10-04
STATE TICKET.
A MATTER OF INTEREST.

One of our readers has asked US to
explain more about the treasurer and
the interest on public funds. The
matter is in this wise. Throughout
the year, and principally in the spring
and fall the people pay their taxes.
These monies are not kept in the
treasurer vault but are placed on
deposit in different banks. Some
times the deposits are large and some
times smaller, but experience shows
that the average amount of idle mon
ey held by the county is $4,000.
This is in usual times. At present with
the court house tax added the average
amount will probably be S75. 600.
Now the use of this money is worth
something to any bank. They know
it and are willing to pay for it. The
question is-shall the people, from
whom the money comes. receive the
benefit. or shall it be paid on the
quiet to the county treasurer who re-
ceives this in addition to the $500.
salary paid him by the people?
Taxes are based upon the expenses
of the county and any income will re-
duce the taxes.
IL the interest on public funds
were paid to the couny it would mean
from $1,000 to $500 less in taxes to
be paid each year.
The question is not only one OF
economy and good government but OF
Justice and fair play.
What moral or legal right has the
treasurer to receive interest on mon
ey which you have earned by the
sweat of your brow? He is paid 70,
his services. This system simply
pays him double. The republicans in
their platform, and by their candid
ate, U. G. johnson, have pledged
themselves to this reform. That il
elected the interest on public funds
shall go to the county. That means
an annual saving of from $1,000 t,
$500 year to the people. The de.
mocratic platform is silent on this
question as is also the candidate.
The question then is, would YOU
rather pay Louie Evers from S2500 tt
$4,000 year to act as treasurer OF
secure the services of U. G. johnson
at $500 year? Both men are com.
petent, both men could furnish suffi-
cient bond to secure the county. but
are Louie Evers services worth from
$1,000 to $500 more year?
When treasurer receives. secretly,
interest or ''presents" from different
banks.he is bound to show favoritism.
If one bank pays at the rate of pei
cent and the other at 2 per cent, the
per cent bank is sure to receive the
larger deposit. This is human nature
This has lead in some instances to de-
posits in banks which were not safe.
The higher rate of interest tempting
the treasurer.
The system as proposed by tbs
ACPOp1ASolio 10 oPCA duo dUOVe
board. The banks can bid for the
county deposits and they must give
sufficient bond to cover all deposits.
Thus the county is absolutely secure
and gets the benefit Of any interes,
acrueing.
Such ruling would tend also tt
the even distribution of the money
We remember at one time when 6
certain town was Disseminated ag.
ainst by the treasurer and the people
made protest. They saw no reason why
the taxes of their community should
go at once to Denison to be deposited
in Denison banks while the money
was needed and could be used to advant
age in their community.
Again the present system give {
treasurer undue influence and "pull'
to perpetuate himself in Office. liz
can go to bank and say that unless
he receives support the deposits vii
go to another bank. All this i bad
1t leads to graft, and is graft
There are no two ways about it. thu
interest on public funds belongs to tn.
public. not to the public's we'll pai'
servant.
We have no reflections to make o,
Mr.. Evers' honesty. Undoubtedly TIN
public funds would be SAFE unde