The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1907-04-18
Withholding Deposit Fund.


refusing to repay the United States
deposit money, or turn over the in
come thereof 10 the state, under the
new permanent school fund law, that
they are justified by the wording Of
the ACT Of 1896. by which the surplus
fund was divided among the towns
The act provided that towns that shall
appoint trustees Of public money, whose
Office was created by this act, and re-
ceiye by them such deposit money,
shall be accountable for the return of
said money, or any part thereof TO the
state treasury, whenever called for by
the state treasurer upon the requistion
OF the United States, or for the pur.
poses OF new apportlonment, in the
sAme manner as towns are now ac-
countsble for the state taxes The
argument ~ that until the state IL
called upon by the United States gov.
eminent 10 refund the money, il can.
not demand IL OF the towns, or apply
she income in any different way than
originally provided.
The courts will have to decide this
question Of law. but undoubtedly the
Encouragement will try TO establish
that this fund was not conditional
Rift, but loan 10 the several towns
subject 10 the provisions Of the act ere.
ating II as long AS that act remained,
but open 10 such changes as the sn.
preme power of the state might make
through legislative enactment at any
Zine. The provision requiring the
immediate return of the fund by the
towns to the state whenever called for
hy The government was necessary
one, creating an automatic method for
assembling the fund in case il should
be demanded when the legislature was
not in session. Ii cannot well be ex.
tended 10 mean that the towns shall
never refund unless the United States
makes It's requlsitlon. 1t may be well
Tor towns disposed to fight 10 note the
forfeiture they incur IL the new law il
sustained. They lose their share OF
The division Of the entire permanent
school fund income, aud also OF the
state school tax, until such time As
thoy cash ln, with six per cent
interest on the money withheld. lnas.
much as the great majority, and quite
likely all, OF the towns would be gain
eers, rather than losers, under the new
uispenshtlon, rs it not short-sighied
policy 10 bold out from mere stuff
ness"'-tHerald and News, April u.
Regarding the forfeiture clause in
The new law. II is very sure that the
trainers Of this law had a pretty good
idea tina, there was likely to be trouble
In the collecting Of this deposit money,
else they would never have added the
forfeiture clause 10 il any more than
shcy would think OF amending the laws
regarding the payment Of the state
school or the state highway tax, and
fixing forfeiture clause on them. II
she law was a just one there would
be no need Of worrying that the vari.
Gus towns that had been beniiciaries |
under the old nc, would have refused |
70 conform 10 the requirements OF the
new. II there was no flaw in the law,
The state would have no trouble in col.
lccting this deposit money from the
towns, same A. they could collect n
state highway tax, and threats Of for.
fixture would no, be necessary.
We do no, think that anything is to
be gained by any Of the state papers
making slurring remarks about some
towns who do no, wish 10 pay in the
money until they arc sure that they
should and mus, do 30. Ii il the sworn
duty Of the officers Of the town 10 look
out for the hes, interests Of their re-
spectiye towns, and II they see in this
Act ~ blow aimed n, The hes, inter.
ests Of their town why should they be
ecnsured for Withholding the money!
In the last sentence Of the article
quoted above il will be noticed thai
ME statement is made that most all
81 the towns Will be gamers. rather
IhAn loser, under The new dispense
hon. : and thai such towns A have
withheld the payment sv doing 20
IRON feeling Of STIFFNESS" is il
pure ''siuainess" 10 iii idly by and see
your town in position 10 lose money
and DO, have word TO say in protest.
II NO. all right. Thai the towns wall
be losers and moi gamers il is only
necessary 10 do a little careful "ag.
germ Of il" 10 see for yourself.
Aci o. ssys. Trustees shall invest
permanent school fund only in United ,
States bonds, siaie bonds, bonds oi
riiies and school districts IN ihe United
States having population over twenty
Ihcassnd, and boD1s o. towns, cities I
md villages ia ihls static with inacbi. !
,iaess aot exceeding Eve ilaes tic