The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1910-01-06

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-
tion. All the funds were withdrawn and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 100000,
| needed In cash on hand. The practice
| had been to keep enormous amounts as
cash on hand, the daily average being
| nearly 900, although 100000 more
was constantly on deposit in Columbus
banks subject to check. The taxpayers
have had to make up the $50, 900 per year
| OF interest thus lost. But, worse still, 1t
has been found that a large part, II not
nearly all, of this apparently idle money
was really at work, but not for the tax
| payers, being returned to the treasury
| long enough TO be counted at the stated
|
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
| rel Of fV,li ffnc md
gave a 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
| sureties on the bonds of former treasur-
ers have chiefly been bankers or others
| to whom the friendship of the treasurer
was or 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 We're collected in a few days at most
long periods were 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-
posit 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
the proceeds finally were credited to the
account of the officer depositing the
oh,
them into the treasury. A former official
for years left on deposit in his own bank
in his own name a constant average bal
anCe of nearly $780, 900 of state funds so
collected by him. Whether these methods
of dealing with public funds were 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
proper proceedings. He should have
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, as well as the loss of consider
able interest, and make the treasurer's
accounts show at the close of each day
the exact amount of funds on hand.
Funds voted by the emergency board
are 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 its GER
thcates 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-
ton 1t cannot be properly made un-
less, at the same time the other sub
all shall pay their just share of the pub
lie expense. and neither more nor less.
The constitution points out the only
road to fairness And it 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
IN hiS nIa ir,r
porations and other large concerns are
not under this disadvantage. So ordi-
nary taxpayers have always had the
worst of it, and always will, when taxa
alton is treated as a contest to evade
or shift an unwelcome burden, instead
of the patriotic co-opera ton of citizens
to 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 respect to real estate especially
farms and ordinary homes. These have
always paid and still pay, more than
their fair share of taxes. But the own
ers of such property will not and should
not submit to this valuation unless all
other property is treated in the same
way, If this be done the glaring ine-
qualities which now disgrace the dupli-
cate will be avoided: and it can be ac-
complished by no other means.
The differences in the rules of valua-
tion employed in the various counties
with respect to each other is due to a
single cause, the raising of state taxes
by levy on duplicate values. This cause
should be removed and uniformity as
among the counties restored by appor-
tioning the states requirements accord
ing to the total revenue raised by the
counties and their subdivisions. instead
Of levying percentage On their yRlpA-