Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1908-06-02
Some Historic Facts and Timely
Words of Caution Given by Rob-
ert Z. Park, State Treasurer.
ATLANTA, GA, May %. 1908

ATLANTA, GA, May %, 1908
To the People of Georgia:
Certain Georgia bankers have re-
Gently stated that my opponent has
made promises in the event of his
election to distribute the States mon
ey among the smaller repositories
throughout the State" and | note that
almost this exact language IS used
in his recent card of errors. These
bankers expressed the opinion that
this was intended as a tempting bait
or bride to them to withdraw their
allegiance from myself. If Mr..
Speer was connected with the State
Treasury as Clerk and Assistant Bank
Examiner so many years. as he claims,
and was posted about the duties, he
ought to know that taX-colIectors and
others who deposit taxes are required
by the depository law to place the
money of certain counties assigned to
them in the banks selected for that
purpose by the Governor, who alone
has the right to designate such banks.
To do otherwise, he should know,
would violate the law [ am a stickler
old-fashioned in this respecD, but |
believe in a strict observance of the
Code of Georgia and of the Acts of the
Legislature relating to the State
Treasury and State Banking Depart
ments.
Pardon a recital of some historic
facts connected with State Treasurers
of several Southern States who have
held office during the past thirty
years, and who. by violating the let
ter and the spirit of the law, have
caused financial loss to their States,
and have suffered personal and Off
cial disgrace: A treasurer of Ken
lucky was a defaulter to his State;
a treasurer of Tennessee was punish
ed for abstracting the State, funds;
a treasurer of Alabama was convict
ri - ~laking way with more than
100000 of that States funds;
treasurer of Mississippi spent four
,odrs in the penitentiary for similar
conduct; a treasurer o fLOuisiana is
now a refugee from justice in South
America; a treasurer of Arkansas
was convicted of misrepresentation of
the States funds. this is a mOrtify-
ing exhibit. Let us hope that Georgia
will never entruSt the management
of her finances to any but men of high
ideals, who are of iron integrity, and
of stainless reputation in social and
political life. With such men all
shame in the history of our State will
be avoided
My opponent brazenly stated that
no depOsitOr during his long cOnnec-
ton with the State Treasury ever lost
a dollar This can not be a truthful
statement in view of the fact that w.
G. Hale, President of the State Saw
ings Bank and Union Trust Company
of Atlanta, failed utterly to meet the
obligations to depositors and credi-
tors of those two institutions, and in
cOntinently fed the State and is now
refugee from justice. This event
occurred during Mr.. Speer's connec-
ton with the Treasury Department.
HIS poor memory has also made him
forget the Home Bank and the Mer-
chants Bank of Atlanta and [ might
also mention others, notably, the fail
ure in Athens which caused the dis
appearance of its most trusted officer.
| have painful memories myself of my
inheritance from Mr. Speer of GER
tain banks which | might mention, the
condition of which, to quote his
classic language, was rotten" He
has the effrOntery to charge my adj
mlnlstratiOn with having permitted
the Neal Bank to fail Yet, in the
opinion of Attorney General Hart.
and by the decision of Judge Ellis. as
we'll as the freely-eXpressed views of
many of our most intelligent bankers,
and OF numerous fair-minded people
throughout the State, the official acts
OF myself and assistant in connection
with this bank have been approved,
and we have been fully absolved from
any blame in this affair, now being
feVamped and rehaShed for purely
personal and political reasons by this
desperate candidate. The high-mind
ed and noble bankers and other citi-
zens OF Georgia will resent the sug
gestlons and statements made bv
w, j. Speer
l repeat, that no treasurer has q
right under the law to distribute the
states money among the smaller de-
oositQries throughout the State" At
one time, in 1906, there was onlv 81
10000 of the States money in ali tbe
repositories, very little to distribute.
snail continue to be fair to all
banks and persons of Georgia. The
Governor designates the repositories
oAAu TIC Ia" uOGS nOL permit the Treas
urer to discontinue them or to move
deposits from one bank to another
except, possibly, under order of the
governor. The State of Georgia and
It's officers can not be directors of the
conduct of the financial operations of
the 400 State banks. The law di
reefs, and it has been my pleasure to
warn, to caution, to guide and to
save banks and bankers that are in
trouble. Only two chartered banks in
Georgia have suspended during the
present year, and those two, | am
nappy to say have been restored TO
their former position as active banks
SO | am still able to repeat what il
stated in my annual report, that only
i've banks have failed during the past
eight years. No other State in the
Union can show better record.
L respectfully ask consideration of
che above historic facts and these
words of well-meant caution, believ- |
ing that a generous patriotic and
thoughtful people, realizing the i'm
portant crust and responsibilities of
he office of State Treasurer, are am
ply satisfied with my record, and the
security of the States funds while |
to my care.