Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1908-05-07
HASTINGS REPLY.
TO HTS CRITICS
OPEN LETTER PUBLlsHED IN
EVENING CAPITAL NEWS COM
VENTING ON BOISE STATES.
4 NAN EDITORIAL ON REPORT.

Following the report of State
Bank Examiner CLANCY on the in
yestigation of the business affairs of
State Treasurer Hastings, in which
he found the states moneys either
,resent in the safe or properly ac-
counted for in banks under safe
saarantee. the Boise Statesman
made a caustic comment on the re-
port in reply to which Mr.. Has
tings had the following open letter
printed in the Boise Capital News:
/ have read in the Statesman of
May the editorial regarding the
state treasurer. The editor seems to
accuse me of favoritism regarding
state depositaries. To this I will
simply say that when I took ONCE
I found listed 80 depositaries. which
number has been increased until to-
day they number SO. with Is more
granted as soon as they furnish
their bonds and the bonds are ap-
proved by the state board Of control.
which will then make 100 banks.
Does this look like favoritism? Fur
thermore, If there can be one single
instance shown where have turned
down any bank that has offered me
the proper security will donate
1900 to any charitable institution
IN the city of Boise that the editor
Of the Statesman may designate.
The Statesman says: "He is in
ONCE to obey the spirit and letter
Of the law as he finds it, In his
EDITORIAL IN the month of January he
says: ''Mr. Hastings has adminis-
tered the law in it's spirit and is able
to make fine showing" Why this
contradictory statement in the lapse
Of few short weeks?
Regarding the Capital State bank
there Is the supreme court decision
IN the case of State VS.. Thumb,
which can be found on page 323 OF
the Sixth Idaho Reports; also in the
Ffty-fifth Pacific, 858. and the
syllabus reads as follows:
Public money-Trust fund, when
deposited in bank-Belongs to true
owner. Public money deposited by
public officer In a bank becomes a
trust fund, and, in case of the insol-
vency Of the bank, It's receiver must
treat such fund as the property of
the true owner, and not of the
bank"
''Insolvent bank-Creditors Of
The creditors of an insolvent bank
are not entitled to share pro rata in
public money deposited in such
bank"
! have no reason to believe but
what that decision is just as valid
today as 1t was 10 years ago.
Again he states that the state is
unsecured as to the funds in the
Capital State bank. The state of
Idaho has my bond for $4,000 for
the protection of any error may
commit financially, and the bonding
company is responsible therefor;
yet he states it is absolutely unse-
cured. He also states that the state
OF Idaho will have to take its
chances along with the ordinary run
OF depositors, when the supreme
court, in its decision as above quot
ec. says entirely different.
furthermore. he quotes it is the
au'y OF the county treasurers to pay
oser IN cash all funds due to the
..a'e. lthave so letters in my once
als minute regarding payment Of
snecks from bankers and public Of
Hcers all over the state, and the gen.
eiai tenor Is that taxes would be
pala promptly provided the absolute
sasn was not called for, and as we
ulo not insist upon the spot cash we
succeeded in collecting 81 per cent
y. the taxes. Had we insisted upon
.ae spot cash payments, l believe
.aa' not 25 per cent OF the taxes. in
s'ead OF 81 per cent, would have
oeen paid, and I will leave it to any
s sane man to Judge which was the
'e.ter course to pursue.
acoo ossioiy, did carry my collection
vo' Uunt in some other bank, all
u De calm and serene.
ch.ow' one thing more. Examiner
nuh,, s says there is $74,OO0 In the
Viii building endowment fund,
the auditor and tho States-
# = eiaim should be in the safe. II
dia "a an endowment fund, then why
se., tue auditor. within the past
for uraw 100000 on that fund
bui,d,n construction of the public
on and why did the governor
on ~ ~. oiiis to the extent of $780, 900
mat fund. whan ,f a. ..