The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-11-09
A GOOD NEGATIVE VOTE.


proposition TO abolish the death penalt,
for murder, and the people Of Utah, 81
far as appears BY the returns received
have voted down the eight constitn
tional amendments submitted at the re
cent election, and in our opinion have
done wisely in so doing. There WASH Z
one Of the amendments that would have
been of any advantage to the people
while most OF them would have added
TO the cost of government, and speciti
callv to the burdens Of the taxpayers
The series Of amendments TO the con
Stitution Of this State already adopted
al former elections have been in the in.
terest OF the officialdom of this State
the consumers of the public taxes, anil
TO the dctriment OF the taxpayers, this
almost without exception. The amend.
ments Just defeated would have been
even worse in the same direction. There
was but one of these that seemed plaus-
| iblc. and that was the one providing
for the deposit of public moneys 80
| that the State treasury would get inter
est thereon; but when practically an.
| slvzed it was seen that il would be
| necessary 10 relieve the Treasurer from
the custody of the funds, or from liza.
bility on his bonds in order 10 do this,
and after that release. the money would
be subject TO no particular responsible
ity. and the people would he liable to
great loss from time TO time.
The object to be gained in this pro
posed constitutional amendment is moth
inc more than can already DC had under
better procedure, for, as seen in the
case of Salt Lake City, the treasurer.
while still held on his bond, deposits
the public moneys in the bank that
makes the best bid therefor, and gets
interest for the public on that money so
deposited. Precisely the same thing
could bc done by the State Treasurer
under the laws rs they are, and that
is exactly what any well, disposed adj
minlstration will assure TO the people
As we pointed ont during the campaign
the retiring State Treasurer Of Ohio I'M
der precisely the Same condition Of con-
stitution and laws that Utah enjoys
viii turn in when be goes out of of.
flee 100000 Of interest on public mon
eys deposited by him IN the various
banks of that State. Treasurer Matt.
son. in his recent campaign addresses,
admitted that the funds on hand sub
iect 10 deposit averaged about mil.
lion dollars. but his statement Of funds
on hand nj the low ebb OF the ycar
shows that there is s1,500,o00 subject
to deposit for the benefit of the State.
This sum deposited, say, at two per
cent interest (Which is a very low rate)
would yield to the State Treasury S30,-
600 year, or for the four years of the
treasurer IS term, 100000. There would
appear TO be no reason why the State,
under the present legal status of the
treasurer and of the laws governing the
State Treasury, could not deposit this
money and get interest for the State
thereon.
We trust that the incoming admins.
tration will see TO this, and will show
to the people good results therefrom.
The amount Of $4,000 a year is the
minimum that the State ought to re.
ceive on interest account. and that in
The fouryear term is substantial sum
OF money. But if the whole surplus
money resource available for the State
we're treated in the same way, the
amount of interest would be correspond.
inCly greater. There is an excellent
chance for the incoming State admins.
tratou to make a ten-strike with the
people by doing Justice and turning
into the State treasury the benefits de-
rived heretofore by somebody not
known, from the deposit of State mon.
eys, If 1t is contended that the State
received a benefit By way Of the hand
ling OF its Indebtedness, or in any other
manner, through the deposit of public
moneys. the transaction should be open,
and every bank should have an oppor-
tunity to take part in the "cuttlng Of
the melon. - Heretofore whatever bene.
hts have been derived therefrom appear
10 have been arranged for without pub
liclty. and were known to the people
chiefly through speeches made during
the campaign, But matters of that kind
should be of current public knowledge,
and there should be no favorites Dlaved