The Marion daily mirror. (Marion, Ohio) 1892-1912, 1908-09-26
Treasury Pried open.

The legislative investigation OF our
state treasurer required more than q
crowbar to pry the treasury open far
enough to get even a few facts. and
finally we discovered "s5 .562, 900 Of the
peoples money was In banks known
as inactive repositories and $500 900
in two banks known as active depos,
itories'" and that for the years OF
1905-6.7 an average Of s74S, ,533.65 was
carried as cash not on deposit. :"
Taking the 100000 in the so-called
active banks and the s74S,533. .G5
which was juggled as cash not on
deposit" we find that the unneces.
sarily large sum OF s1,24S,533.65 was
carried for the alleged purpose Of
meeting current disbursements, not
withstanding the fact that c. G..
Green. then deputy and now candi
date to succeed Mr. McKinnon. testi-
9ed on compulsion that the average
monthly disbursement required only
100000
The examination made by the &C.
counting expert u y. Tanner Of
Cleveland, o., disclosed that the
100000 in two so-called active de.
positorles" was maintained almost
continuously, and that whenever any
sum was drawn out Of either of these
banks the same amount. even to the
penny, was deposited the same day
or within a day or two. Thus It was
demonstrated that these two banks
we're no more "active repositories"
than any other banks which we're
denominated 'inactive repositories. s.
The inactive depositories' paid at
the rate OF ga per cent, while the so
called active repositories" paid only
~ per cent, and on the S74S,533. .G5
denominated cash not on deposit,
not cent of interest Is accounted for,
although the evidence, direct and cir.
that most OF this sum was in banks
of certain state officials and not in
the state treasury. The reluctance
and refusal of those in the state
treasury to tell about the use OF the
peoples money is a circumstance sug.
gesting guilty conscience of those
/ men who, like the wicked, "hee when
no man pursueth." Why shouldn't
the state treasury officials open wide
, the doors and books 10 the legislative
| committee? What excuse for quibble
evasion. delay and denial co.ld the
state treasurer have II he could show
clean hands?
Signs Of Prosperity.
The people of Ohio frequently visi,
Columbus. and as they pass down
| High street. at the corner OF Long
street, they will see a gigantic sky
! scraper. owned by the Columbus Sav
ings and Trust company, over which
company the last state treasurer, |. b
Cameron, presides, and on the win
dows OF this building, throughout the
day. and by a great electric sigr
throughout the night, this institution
advertises the fact that they will pay
anyone 4 per cent interest on depos
| It's; and yet the state treasurer VI
Ohio, Mr.. Mcliinnon, whose name
appears In the list OF directors Of this
same banking house, lends one-Quar
ter of a million of the peoples money
| TO this bank at the rate OF 21s pei
cent. In addition, Mr., lcKinnon and
Mr.. Green are said TO be stockholder,
in two other banks which are known
as active repositories" having
$50000 OF deposits on which tht
state is paid the very low rate o
1 only 1ia per cent interest.
Although Mr.. McKinnon vel
knows that the banks OF Columbia:
pay the city OF Columbus for city
funds rates higher than per cent
when Mr.. McKinnon was asked why
, he did not get more interest from the
banks, his evasive reply was, I"
didn't try" Further comment on thi'
question of interest and this favor
itism TO banks in which Mr.. McKin
non and Mr.. Green are said TO be
/ stockholders is hardly necessary: bu
II may not come amiss TO call atten
tion TO the fact that Mr.. McKinnor
and Mr.. Green have carried abou
ono-iifth of the states money in banks
In which they are reported to owr
stock. There are several hundred
banks throughout the state that coul,
make good use of these funds for tho
people OF their communities ard n
a higher rate of interest IL given al
opportunity to share in the privilege
of such a working capital to build ~
the industries throughout the state ~
Ohio. This same investigation Of 4 ,
state treasury disclosed that nj
books were kept showing the deposits
of money in the different banks. 4
corner grocery or blacksmith shoI
at the most remote crosSoads viii
show better system of bookkeepln,
than these men pretend TO have haC
in the treasury OF the state OF Ohio.
Fair Dealing For All.
Time will not permit further detail
but a hint to the wise is sufficient
confess that ] entertain old fogy no
tions about the use OF the people,
property. believe that when a farm
er raises crop OF wheat or corn ~
his land that he should get the crop
and I equally believe that when thu
peoples money raises a crop OF in