The Lee County journal. (Leesburg, Ga.) 1904-19??, 1908-02-28

Of Sl,bOU, with the largely increased
responsibilities. duties and Iabors, gas
compared with the salaries allowed
to the treasury departments OF other
states, is painfully absurd and ridicu-
lous and unworthy of general and
appreciative state. I
He expresses qualification that the
governor has stated on more than one
occasion that the state treasurer
should have three accomplished book
Keepers at salaries of $4,000, $4,000 and
$500 respectively" and fully agree
with you, and wish the legislature
would see 1t in the same light / could
refer you to certain states which have
an income of less than our annual in
come Of nearly FIVE millions of dollars,
which allow to the treasury department
salaries all the way from $4,000 to
$4,000 per annum Thirty-six hun
dred dollars is the total amount that
the constitution Of Georgia allows to
the treasury department of this state.
Captain Park refers with pardon
able pride to the fact that under his
administration, temporary loans have
been secured for the state at the low
est rate of interest ever before known
two per cent
Growth Of State Eanks.
Discussing the rapid Increase in
slant banks and state banking capital
since he took charge Of the treasur-
er's office, Captain Park points out that
! they have kept pace with the rapid
advance and growth of the state in all
lines of industrial and commercial en-
terprise. There has been an increase
of 220 per cent in the number of state
banks within the last eight Fears
Captain Park then discusses the du.
ties of his office as state bank ex-
aminer under tie old and the new
laws. Under the old law with a sin
gle assistant, these were examined
191 of the 448 state banks in the hrst
eight months of 1897 Then the new
! law, passed at the last session Of the
general assembly, went into effect
This new law provided for an additional
number of assistant bank examiners,
as many as might be needed to ex
mine each bank twice year. But
the legislature cut down the pro rata
assessments which the banks had al
ready agreed to levy upon themselves
to pay the expenses of these examina-
lions, to such an extent as to make
the employment of the necessary capa-
Bile examiners a matter Of impossible
ity.
New Law Inadequate.
In addition to the reports Of bank
examinations the law requires four
published statements per annum OF the
condition of each bank, which makes.
a total of 1888 bank reports sent to
the state bank examiner each year for
his inspection and review
Clearing House Certificates.
Speaking of the issue of 1885, 900
clearing house certificates by the
clearing house banks Of Atlanta, Cap
tain Park tells for the first time Of
meeting at the governors mansion,
called to consider his refusal to accept
clearing house certificates as state de-
posits, which meeting was followed by
letter to the Atlanta Clearing House
association, in which the state treas
urer set forth his position, and said
the only condition on which clearing
house certificates would be accepted
as state deposits was that the bank
receiving them would give credit for
them as though they were legal ten
der money, "and putting them to the
credit of the state on the basis Of ac-
tual money against which the state
can check"
Concluding this subject he says:
1T will be noted that the clearing
house certificates were endorsed by
the banks above named, Including the
Neal bank. No doubt all Of these
banks, in dealing with a matter Of 80
much moment and Importance, and
carrying with 1t such enormous fnan-
cial responsibility, very carefully look
ed into and considered the condition
OF the Neal bank before becoming
ccsecurity with them in the endorses.
ment."
Deposits Should be Insured.
Captain Park is firm believer in
the feature Of insurance Of deposits.