, 1907-01-09

NY DiiNIltkt III
communicate 10 you, in conformity
with law and custom, such informa
ton pertaining to the state and its af
fairs, as seems 10 be Of greatest i'm,
portrnce, accompanied ny such recon.
mendations and suggestions, as appear
TO me TO be wise and salutary.
In addition to this message. which.
owing 10 the many subjects requiring
attention. must necessarily be con.
densed, yon will have before Won for
further consideration, detailed reports
from officials in every department and
state institution. These carefully pre-
pared reports, containing facts, figures
and recommendations of vital impor-
lance, should be freely consulted, in
framing legislation pertaining TO the
various departments. This message
Is presented in four separate groups:
First-lmportant matters for general
consideration.
Second-Work of state officials and
reports from various departments.
Third-State boards and commits
sions.
Fonrth-State institutions.
United States Senator.
Among the many duties devolVing
upon he members of this Legislature,
n of the first and most important.
and | am sure one of the most pleas.
ant. will be the election of a United
States senator for the full term, begin
ming March the 4th, 1907. BY popular
vote the people of Wyoming have over
whelmingly selected the Hon. Francis
r.. Warren to succeed himself for this
most important and distinguished posi-
ton, the highest in the gift of a state.
During his long years of service in the
state and nation, he has ever been
true and faithful to his trust, and,
while foremost in the councils of the
statesmen of our nation, has rendered
services of international importance,
rejecting great credit upon himself,
and honor upon this young common
wealth.
State Depository Law.
III members of this legislature are
bound by party pledges, and authoriZ.
ed by the Constitution, to enact a law
relative TO the deposit of public funds.
Our State Constitution declares, "All
moneys belonging to the state, or to
any county, city, town, village or other
subdivision therein, except as herein
otherwise provided for, shall whenever
practicable be deposited in National
banks, or banks incorporated under the
law of this state; provided that the
bank or banks, in which such money
is deposited, shall furnish security to
be approved as provided by law; and
snail also pay a reasonable rate of in
terest thereon. Such interest shall
accrue to the fund, from which it is
derived The making of profit di.
rectly or indirectly out of state, coun.
ty, city, town or school district money,
or other public fund, or using the
same for any purpose not authorized
by law. by a public officer. shall be
deemed a felony. and shall be punish
ed as provided by law"
Undoubtedly the wise trainers of our
Constitution intended that the state
legislature should enact suitable legis-
lation to carry out these provisions.
The general features of similar laws
in other states are in substance as
follows: A board of deposits, compos-
ed of at least three of the regular state
officers, is charged with the duty of re-
ceiving applications from banks for
appointment as stale repositories.
Such banks as are selected, are as a
rule authorized to receive deposits OF
state funds, not in excess of one-half
t.e amount of their capital stock. They
are also required to execute a bond,
in form as prescribed by law, n TO
pay interest on public funds so de
posted. The minimum interest rate
is fixed by the board at least once
each year, and is TO be credited quar-
terly to the particular fund. upon
which ii is computed. A separate ac-
count is to be kept of the different
funds, or portions of such funds, as
may be placed in the state depository.
The deposit is made subject to the de-
mand of the state treasurer, and the
e of shipping currency or specie
by express, also the expense of a
surety bond, furnished by h bank,
is to be paid by the ban While
banks are not to engage in competi-
tive bidding as to the rate of interest,
1t Is usually made the duty of sucn
boards to use all reasonable and
proper means to secure the best terms
for money. so deposited, consistent
with s~afe-keeping, and the prompt pay
ment of such funds when demanded.
A severe penalty for the violation Of
\ u1lN oH INC Pdll - VIZ
urer. or the officers of any such bank,
or the making of profit out of public
funds in any manner, is usually pre-
scribed.
As 10 county funds. the board OF
county commissioners of each coantV
is made, ex-oficio, a board of deposits
for county funds, and likewise school
boards, and the common councils Oh
towns and cities are required by orui-
nance to provide for the deposits, SAFE
keeping and collection of interest on
the funds of their respective munich
palities, all to be governed by the
same general principles, as are pre-
scribed by law in the case OF state
boards OF deposits. .
A state depository law to be just
and satisfactory to the people must
include all public moneys.
Re-Apportionment.
Another measure, also guaranteed
in party platforms, and provided by
the Constitution, is the enactment vi
n just re-apportlonment law. The
census of Wyoming, taken in 1900, by
authority of law, shows some marked