Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1910-01-07


tion and recommendations:
The Treasury.
When the last general assembly sough,
Information about the deposits of state
funds Il was found that no records OF
them were kept. Investigation showed
that the award of deposits was made by
favor, largely to banks in which OFFICIALS
dealing with the revenues had stock, and
at rates of interest fixed by such officials
which were much lower than the same
banks were advertising to pay and pay
Ing on other deposits.
The election of the present treasurer
carried a command which was promptly
and fully obeyed. The books now kept
give ready, full and accurate informa-
ton. All the funds were withdrawn and
redeposited by fair competition open to
all banks in the state alike Much
higher interest was thus obtained and
all suspicion of favoritism dispelled. All
the funds In the treasury were made pro-
ductive. too, as the law intended, except
the small amount, not exceeding $40 900,
needed in cash on hand. The practice
had been to keep enormous amounts as
cash on hand, the daily average being
nearly 100000, although $500, 900 more
was constantly on deposit in Columbus
banks subject to check The taxpayers
nave had to make up the 500 900 per year
OF interest thus lost. But worse still, 1t
has been found that a, large part IL not
was really at work, but not for the tax
payers, being returned to the treasury
long enough to be counted at the stated
examinations and then sent to resume its
secret activity
The details of the reforms made by the
treasurer are given in his report, with
the excellent results. His action was
entirely voluntary and therefore the more
creditable to him. but such things should
be REQUIRED by law and not left to the
Will of future treasurers.
In order to be entirely free in the con-
duct of his office the present treasurer
rejected offers of Individual sureties and
gave surety company bond instead at
his own very considerable expense. Gus
todians of the public funds should be un-
der personal obliga tions to nobody This
is plainly taught by the fact that the
suretes on the bonds of former treasur-
ers have chiefly been bankers or others
to whom the friendship of the treasurer
was on might be an asset Surety com
pany bonds should therefore be required
OF such officials and the cost paid by the
state.
= Large amounts OF interest have also
been lost through the failure of officers
who collect state taxes to turn them
promptly into the treasury. These taxes
are paid by checks, mostly for large
amounts, from corporations The prac-
tice was to deposit these for collection"
In favored banks. Though they could be
and were collected in few days at most,
long periods We're allowed often. rum
ming into many months, during which the
banks had the use of the money without
compensation to the state. After the de-
post law went into operation some, If not
all. of these banks had at the same time
state deposits at interest, and the pro-
ceeds of these checks should have been
credited to the state as soon as received
so as to draw interest. Yet even after
IL IA
account of the officer depositing the
checks there was great reluctance to turn
them into the treasury. A former official
for wears left on deposit in his own bank
In his own name a constant average bal
ance Of nearly 100000 of state funds so
collected by him. Whether these methods
of dealing with public funds We're due to
carelessness or something worse, the re-
suit to the state was the same.
The foregoing facts have been laid
before the attorney general, who prompt
ly took them in hand and will bring all
whatever aid he needs to conduct them
properly.
The deposit law requires every official
receiving money, checks or. drafts" to
pay to the treasurer every Monday "all
such money. checks or drafts received
during the preceding week." so collect
ing officials have no right to put such
checks and drafts in banks for collection.
They are to turn them over to the treas
urer. who has active depository banks
for that purpose which pay interest on
the proceeds as soon as collected The
law should be changed so as to require
all money. checks and drafts to be turned
into the treasury on the day they are re-
ceived. This will avoid risk and temp
tation. well as the loss of consider
able interest. and make the treasurers s
accounts show at the close of each day
ha q nf
Funds voted by the emergency board
arc now advanced by banks and the state
has to pay interest on them. The treas
urer should be authorized to act as
banker for the board and hold it's GER
tiiicates the same as he does certificates
of deposit.
Taxation. "
Injustice has long been done as be-
tween owners of the same class of prop
erty. and still more as between owners
of different classes of property by de-
parting, from the plain and Just COM
mand of the constitution that all prop
erty OF every kind shall be taxed "by a
uniform rule" according to its true
value In money"
The pending revaluation OF all real
property in the state brings up the whole
subject of taxation for prompt atten-
tion. 1t cannot be properly made un-
less at the same time, the other sub
1ects of taxation are so handled that
all shall pay their just share of the pub
lie expense, and neither more nor less
Tile Constitution points out the only
road TO fairness. And II is the only
safe road for the great majority of tax
payers. The amount assessed against
each of these, though important to him,
is not enough to justify Individual action
In his own behalf. even If he had or
could procure the necessary skill and
opportunity to present his claims Cor
porations and other large concerns are
not under this disadvantage. So ordi-
nary taxpayers have always had the
worst of 1t. and always will when taxa
alton is treated as contest to evade
or shift an unwecome burden, instead
OF the patriotic cooperation of citizens
10 support. each according to his means,
the government established and con-
Quoted by themselves for their equal ben
eft 1t is another instance of the uni
versal experience that in struggles for
special advantages those get them who
need them least while the. others are
made to pay for them. \
All property of every sort should.
therefore,. be valued by the rule ordained
by the constitution The results OF val
uing otherwise have not been happy
with reaDect IN real aRtata asnaoia liz,