The river press. [volume] (Fort Benton, Mont.) 1880-current, 1906-05-02
WEDNESDAY. MAY 2. 1906.
THE TAXPAYERS INTEREST.

VVlul slll4Otit vi puDAAN liz Nv
by the state. county and municipal
treasurers is about $4,000. 600 a year.
The proper disbursement of these
public funds is a matter of concern
to every citizen of Montana: the use
Of such funds while they remain in
the public treasury is also a matter
in which every owner of the money is
personally affected.
a portion of these public funds is
paid out very soon after it is collected:
some OF the money remains in the
public treasury for three months. some
for six months Or more. and some of
it for a whole year from the date of
its collection. There are some items,
such as the bond Or sinking funds.
that may remain in the public treas
ury for several years before they are
applied to the purpose for which they
Were collected. The aggregate of the
balances in the state. county and mu-
nicipal treasures at any time of the
year mounts 10 millions OF dollars.
These balances are on deposit in
banks located at various points in
Montana. and are regarded as desir-
able ~business,by financial institutions.
1t is such desirable business that every
bank wants some Of it. for the reason
that there is profit in the use of the
money between the time it is received
and the date o. which it is paid out.
In many of the states there is a law
regarding the deposit Of public funds.
which requires that a certain rate of
interest shall be paid upon the month
ly balances. such interest to be paid
into the public treasury. The state of
Idaho has such a law, the minimum
rate of interest being , per cent. per
annum.
II there We're such a law in effect in
Montana. to what extent would the
taxpayers of this state benefit from
their deposit of So, 0O0, 900 in the course
Of a year: No definite answer can be
given to this question; but assuming
that o%ne-third of it was paid out i'm
mediately after collection, and that
the remainder was disbursed in in
stallments of One-fourth every three
months, the interest at > per cent. per
annum would amount to the handsome
sum of about $50, 600.
But there is no such law in opera.
ton in Montana: the politicians prom.
ised to enact legislation that would
provide for the proper deposit of pub
lie funds, but they failed to redeem
that promise.
II there is profit in the handling of
public funds, the owners of the money
are entitled to it. There is q popular
belief that the banks pay something
upon deposits of the taxpayers money.
and that the payments are considered
by the public officials as IA perquisite
of their Office. AS to the truth of this
suspicion. the River Press disclaims
any knowledge whatever. |, is APP
parent. however, that if the banks
have the use of large amounts of pub
lie funds without paying for it, they
enjoy a privilege at the expense of the
taxpayers: If they pay interest upon
deposits OF the taxpayers money. no
o of such payments appears in
the reports OF public officials.
This matter should be remedied by
Legislative enactment, but in the alb
sence of such a law the taxpayers have
been comparatively helpless. The
people OF Chouteau county, however.
by adopting the direct primary law,
have provided themselves with power
to require proper and efficient service
from their public officials. and pro-
pose to exercise it. Every candidate
for the nomination for county treas
urer will be given an opportunity to
enter into this agreement:
This is to certify, that in the event
of my nomination and election as
treasurer of Chouteau county. all
public funds entrusted to my care will
be deposited in such banks as will
pay a reasonable ate of interest
tlClCou. CuCI4 VI Sulu DIukS 10 pro-
tect me with good and sufficient Sc
curity for the safe keeping of such
funds: that the interest upon these
funds will be covered into the county
treasury and be accounted for in my
official reports to the county commits
siOners: and that | will not solicit or
accept, directly or indirectly. any
compensation or gratuity to intluenc,
the deposit of public funds. | further
certify that a signed copy of this
pledge will be filed with my nomina.
ton papers in the county clerks of.
flee. thus making it a matter of public
record.
AS one of the employers of the pros.
pective county treasurer, any Chou.
teau county taxpayer is entitled to the
assurance of proper service given in
this pledge, and should not hesitate
to ask for it. The candidate himself
is no more entitled to the interest o,