The Mena weekly star., 1907-01-31
AN IMPORTANT MEASURE.

AN IMPORTANT MEASURE.
 If the legislature shall be satisfied that ample security could be fur nished, we think that body should pass the bill of Representative Me Collum of Hampstead county pro viding that state funds shall be placed in banks at interest. Of this measure, Mir. McCollum says:
 There are thousands of dollars
 more than six hundred thousand, l understand lin the state treasury and think the funds should be placed in banks upon interest. The state would be benefited by receiving the interest, and the people and busi- ness interests of the state would be benefited by the putting of the money into circulation. There are several special acts providing for Repositories for counties, and am told the law works we'll as to those counties. If the law is good for a county. see no reason why simi- llr law for the state funds would be ,iectionable. Of course the funds must be safeguarded by proper and efficient bonds, and this is provided for in the bill."
 Not only should the state receive interest on her funds, not only should these funds not be withdrawn from the channels of trade and in- dustry, but the actual keeping and custody of the large amount of cur rency that the state often has on hand is a responsibility that should not be put on our officials.
 What man who has hundreds of thousands of dollars would think of locking it up in safe and setting guards over it instead of putting in a bank and getting the interest? :?
 Moreover, under the systems we have in Arkansas a big sum of cur rency is locked up in the treasury at the very time that the people need currency most when the crops must be moved. The sheriffs pay in the taxes in July and in September, when the cotton must be picked and sent to market, the biggest part of this money is lying in the treasury utterly unable to do the work for which money is created. On Octo- Der 1 last the Arkansas treasury contained $998, ,937. 95 in currency.
 On January there was $64S,9l4.- GA in currency in the treasury. And part of this money consists of cer- tain funds that lie absolutely idle and untouched either for years or stated times. These could be put at interest to especial advantage.
 We hope the legislature will care fully consider the McCollum bill in all its bearings. The sum of money that the state has lost through all these years by locking up her funds in a vault instead of getting interest on that money would make an as- founding figure. Arkansas Gazette.
 The bill outlined above seems so practical and so wholesome in it's intent that the wonder is its pro visions have not long ago been adopted. But the measure seems to have one fault the tendency to fol low the system of specializing or localizing in the making of laws. As pointed out in the comments of the Gazette, numerous counties have already asked for and had the legis- lature pass similar laws governing the use of their own funds, and have found these laws good. It would seem that it would very greatly simplify matters and avoid cumber- ing the statute books with many special acts, to say nothing of talk ing up much time and attention of our legislators with the same, to substitute for this proposed measure one not only providing for the use of state funds as outlined, but pro- viding also that all county and municipal funds be similarly put to work for the good of taxpayers and people.
 It would seem that our lawmakers in seeking to promote the interests of the people could find opportunity for much good work in widening the scope of the bill proposed.