The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1912-10-29

,
because Of the holdings of the late magnate in
Utah corporation stock.
All of the money that raised during the
last three years has been placed in the hands of
the state treasurer, who is directly responsible for
it. Some Of 1t has been spent for the construc-
ton of roads and for the university building, as
provided by the legislature, but there still remains
to the credit of the state large sum Of money
upon which the state is drawing interest.
This seems to be the basis of attack-that the
state is deriving no benefit from the money 1t
ia charged that the banks which hold this money
loan it out at interest while the state gets none.
1t is manifesty unfair for the critics of the
state administration to make the broad assertion
that the state derives benefit whatever from
this money. 1t is likely however, that certain
Democratic and alleged Progressive orators see
the vote.gettng element this accusation for they
are using 1t pretty generally over the state with
out even so much qualifying their statements
sufficiently to show a disposition to be fair
In the first place, the state treasurer must give
a bond to the state and in order to procure the
bond required by law the state would have to pay
an annual premium to bonding company that
would be all out of proportion to the benefit de-
rived by the state In order to the state this
expense, the state treasurer has deposited his
money in certain banks, which in turn have gone
on mis- bond, thus paying interest on the deposit
without actually turning over money to the state.
AGAIN, the state treasurer, Wltn tne pOVeIHoT
and other state officials hoated the bond issues To-
cally at such an attractive figure that none of the
outside bonding firms could interest the state. A
low rate of interest arranged for, whereas If
the bonds given to banks that derived no ben
eft from che statethe rate OF interest would have
been high.
There is no necessity to figure what the state
would have received from the banks had they paid
a certain rate of interest state deposits, but
be safely stated that IL the amount saved
TIE state by the present system compared
with what the state might have received in inter-
est, there would be slight if any difference.
An additional reason why the state officials
are handling state money in the present manner
is that the state provides other means The
last state legislature made provision for differ
ent arrangement, that must be made under
constitutional amendment which will be voted upon
at the coming election. All of the state officials
were heartily in accord with the proposed amend
ment. -
When the record of the Spry administration
shall have been summed up it will be found that
the state affairs have been administered honestly
and efficiently
Coming from what is known a strong Bull
Moose paper the above is interesting.
!. j. ..
PARTY OF PRINCIPLE
AND ONE OF PER.
soNALiTY.
!.
A clear idea of the characters OF the totally
different foundations upon which stand the Repub-
can party and the third term party may be gained
If will consider for moment the effect which
defeat at the polls this fall have upon their sepa
rate fortunes The third term party founded upon
the personality of Theodore Roosevelt without root
or base elsewhere, will to exist in of
defeat; called into being by a politician of strong
character smartng under the humiliation of defeat
cemented together by the emotion and mo-
tive, calling into its ranks the disaffected and the
disconnected everywhere, its defeat would mean
its dsintegration
Third party movements, organizations that
have no solid foundation of fundamental and
sary principles need the cohesive power of loot
to keep them together. When public office, patron
age, is lacking they fall of their own weight. If
the captains of the hundreds and thousands have
nothing to distribute after this campaign is over,
they will find themselves without followers.
defeat would be the political finish of Colonel
Roosevelt since his great atractveness in the
of many lies in the glamour of success with which
he has always been invested, and without which
he nothing.
The Republican party, however, would survive
defeat easily victory. It's foundation is com.
posed of basic principles, definite policies which it
created to foster and to write into the statute
books of the nation; men and their personalities
are merely incidental to the Republican party The
loss of any from it's ranks is important only
as affecting that particular personages political fu
ture. The party itself, however would continue
because its principles would continue. Grover
Cleveland twice defeated the Republican party yet
1t at the beginning Had it been based upon
personal ambition, is Mr. Roosevelt's party it
could not have survived disaster.