The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1916-07-07

the state treasurer. This makes it
necessary for the treasurer to make
a statement at the end of each month
of the daily balance of all banks
and send to them for their vertical
ton. Owing to the treasurer hav-
ing to charge up a deposit the day
it is sent Or credit a check the day
it is drawn the banks own balance
at times, does not exactly agree with
that Of the treasurer on account of
the time necessary for the item to
reach the bank. However, the time
lost in transit on a deposit is in turn
gained on the check while it is in
transit so the bank does not lose
anythin in the end. Under the sys-
tenn of depositing all moneys each
day, the office was enabled to show
an increased earning over the first
year of the preceding term of yer
$500 in interest and that too, from
less principal.
The law allows the depository
board to accept either a surety bond,
government, state, county, municipal
or school bond and state or county
warrants as security for a deposit of
state money-No personal security
is accepted. The usual method of
procedure in getting a deposit from
the state is for the bank to send the
security offered, to the state treas
urer. In order to save time, instead
of sending it to the board and wait
ing for a meeting to be called which
might sometimes be a week or more
owing to the absence from the city of
part of the board, it is taken to the
attorney general for his approval of
it's form and legality. If approved, it
is then taken to the Governor and
secretary of state for their approval.
After the approval of the board, it
is then taken back to the ~treasurer's
office, entered in the bank bond book
and delivered to the state auditor,
after which a check is drawn for the
same percentage of deposit that all
other outside banks have, proportion
ate to the amount of security filed,
and sent to the bank applying.
Along with the other duties en-
trusted to the state treasurer, the
custom has been to make him Gus
todian of the Capitol building and
grounds-in other words, instead of
every officer in the state house tell
ing his troubles to the policeman,
they tell them to the treasurer and
if he can, he takes up the trouble
and gets it Strengthened out. He has
charge of the purchase of supplies
and the making of repairs. BY adopt
ing the plan that no purchase could
be made without first getting a re-
QUESTION signed by the treasurer and
checking over the bills with the
vouchers, it was possible to save the
state the sum of $16,176.51 last year,
as compared to the expenses for the
Capitol building of the corresponding
period of the preceding term.
The state treasury will u%ndoubted-
lily become more important in the fu-
ture and of greater benefit to the
people and the banks of the state;
and the more it's activities a be
directed along the lines of good
banking, the greater will be the bene-
fits to all concerned.
The people are stockholders in this
institution, so also indirectly are the
banks. Wise legislation must be had
before this, the peoples treasury,
can yield it's greatest benefits. There
is a function state money can per-
form that private capital cannot well
enter into. Life time or double life
time loans are mere incilents in
state finance, while for a bank or
individual capitalist, such periods Of
undertaking are beyond the pale of
possibility. Proper legislation can
enable the state to sell its land and
timber holdings and invest the funds
in long time, low interest bearing
amortization land and school loans.
This will greatly benefit the people
and indirectly the bankers also-by
moving the states vast funds thru
the slowly maturing land and bond
deals into the more active transac-
|tions of life, so much more profitable
and desirable to the banker. In
other words, the states vast re-
sources estimated at a possible $780,
000,0 will become just so much
more capital for the people to use
in their business. Therefore, it
would certainly seem to be most ap-
propriate for the Idaho State Bank
ers' association to give this great
public problem its most careful con-
sideration for whatever benefits the
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