The forum. [volume] (Springfield, Ill.) 1904-192?, 1908-10-03

state treasury April % and 30 gave
the ordinary fund Il cash balance, but
the state continued to pay interest on
$4,000 for the next sixty days. On
May l the ordinary fund had bal
ance in the bank of S35, S22.67, but the
state was laying interest on $4,000.
IN the ordinary expense fund the state
used on an average of $15,916.56 for
142 days. and the interest on the sam>
at six per cent was $371.53. However,
the trustees paid $1,27O.S5 tor the use
Of the money.
The trustees of the Central Hospital
for the Insane borrowed between Sept.
30, 1897, and March 81, 1896, $101 ,Sl939,
paying $1,3S019 interest for it at the
rate of six per cent. AS at the other
institutions the reports give no infor-
nation Of tie loan and the bill for IL
terest due was not presented until
after the November election. Wat
money the hospital required to carry
it caltnot be determined for no table
of daily balances could be drawn from
the treasurers report. He kept his
accounts and made his reports by
voucher number only, AMI never by
tie date of payment. This omission
Of dates in his reports, like borrowing
money without the authority of the
geaeral assembly, was declared to be
violation Of law.
Continuing his discussion of the eX
pert handling of finances in the inst
tuition during the Democratic admin
iStration, Governor Tanner said:
Tanner Gave the Record.
In reviewing the Altgeld Democratic
adn' MIST ration, which extended from
January, 1888, to January, 1897. Gov
ernor JOHN il. Tanner, who succee led
Governor Atlgeld, went into the situa-
ton Thoroughly. IN view of the fact
that General" Stevenson is now
pleading for "n9n-partisan" manage
ment Of institution affairs, the voters
should recall the record of the last
Democratic administration. IN a
speech deli, cred Sept. Is, 1893. at
Golc'nda, Governor Tanner reviewed
tie transactions Of that administra-
ton in the charitable institutions.
In order that we may judge fairly
Of the business methods of his admin
istration.' said Governor Tanner, 81
feel 1t my duty TO give you the result
OF my examination of the records of
that administration so far, at least
as its transactions appear of record
To do this it Lecomes necessary to
go somewhat into detail.'
'Overdrafts" at the Blind.
Governor Tanner first referred to
the three institutions at jacksonville.
He called attention to the fact that
the trustees for the Illinois School for
the Blind received their full quarterly
appropriation July 49, 1895, and were
notified from Springfield that they
would receive no more money until
April, 1896, when the tax levy of 1895
would begin TO come in. Between
Sept. 26, 1895, and March %, 1896
the institution borrowed $43,47S.g6,
paying S1f51.43 interest at the rate OF
six per cent. IN this, as in most other
institutions, tIle secretary or clerk
made no record of the transaction. No
intimation OF the loan was left ON the
account books or in. the trustees re
ports. The hill for interest was with
held until Nov. 2S. 1896, seven months
after the prince pal had been paid ana
Governor al geld had been defeated
for denomination. The bill for interest
when presented read for Interest on
overdrafts." A table of daily balance
drawn from the institution treasurers
reports shows that tie interest at six
per cent on the money actually used
should have been $223.S2. whereas the
interest actually paid was $1,O37.43.
On Get. 10, 1895, the institution had ii
balance in the bank in the ordinary
fund OF $S.7O096. On that date they
borrowed or overdrew' $4,000 ami
placed it to the credit of the instit,l-
ton. This amount, $4,000, laid in the
bank seventyfour days, earning
$160.5S for the bankers and before tLe
state drew a dollar of it, The last of
it was not drawn until 164 days after
it was borrowed. For seventy-four
days the state paid interest on $4,000
when it had from $4,000 to $4,000 to
it's credit in the bank
On July 81, 1896, the trustees again
borrowed or "Overdrew'' $4,000,
which laid i'm the bank untouched nm