The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1922-12-12
State Treasurer Would Not
Take Fiscal Agency to n. Y.
Would Deprive Kansas of Use
of Fund of 81, 100000.
INTEREST WOULD PAY EXPENSE
In September 45 Per Cent of
Money Was in Local Banks.
Kansas Has Not a Dollar of In
debtedness, Says Report.

Return of the Kansas fiscal agency,
now a part of the state treasury, to
"a New York bank is strongly opposed
by State Treasurer E. T. Thompson in
the twenty-third biennial report of his
department made public, today.
Should the agency be taken away
from the state treasury. he says. Kan
sas and the banks located in her Varl-
Gus counties, woulS be deprived of the
use of about s1,5oO, 900.
Il would recommend that the legis-
lature amend the fiscal agency law by
making it obligatory upon the munich
palities in Kansas, in calling bonds for
payment before maturity, to publish
notice in the official county paper,
giving the name of the municipality,
amount of each bonds, date of issue,
date of maturity and date on which
interest ceases, and that a copy of this
public notice be sent to the state treas
urer at least fifteen days prior to the
date the coupons and bonds are de-
sired to be paid" Mr.. Thompson said
in submitting the report to Governor
Allen.
Fund of S2.OOO,OOO a Year.
THE Kansas fiscal agency, estab-
lished by the legislature in 1909, is in
creasing very rapidly-about two mill
lion dollars per year." the treasurer's
report said. THE one-eighth of one
per cent fee collected for the fiscal
years ending June 80, 1921, and 1929
placed to the credit of general revenue
$21,193 81. This is used to help pay
the running expenses of the state gov
eminent.
Had this agency not been estab-
ished in connection with the treas
urer'S office, Kansas would have lost
the interest on this money, amounting
to approximately $4,000, which is de-
posted in various counties, in addition
to the fiscal agency fee, approximately
S12, 600 annually. Kansas would have
lost from the fiscal agency alone more
than $50, 900 annually.
The esta tabhshment of this agency
has been a help to Kansas cities, as
Kansas bonds have been selling at par
and above when governme ent bonds
were selling at IS cents on the dollar"
The treasurer states that interest
collected on state deposits for the year
1922 alone will pay the entire operat-
-iRG-sNpensee EFF his depa rtr4efrt for
the next five years. He predicts this
interest, from January to january.
will approximate 100000.
On September 1. 1922, the report
says, As per cent of the states money
was in local banks. In December the
treasurer will leave 5 per cent, or APP
proximately $500, 900 of the amount
due the state by the counties in the
various counties.
"This was never done before in the
history of Kansas, Mr.. Thompson
points out, yet by handling it in this
manner nave not decreased the -reVe-
nue. from the treasurer's office in the
way of interest. On the basis on
which this office is now operating, ap-I
proximately 100000 more in interest
on state funds in the last two years
will be turned in than for any previous
biennium."
Big Balance in Treasury.
The treasurer's report shows that
the balance on hand in the treasury
on June 80. 1922, was s39,7S4,374.92.
and on June 80, 1921, $36,445, ,442.3O
Kansas has not a dollar of in
debtedness," Mr.. Thompson says
The last bond owed by the state,
for $4,000 was publicly burned by
Governor Arthur Capper on January
1, 1916. Kansas thus became one of
less than six states in the union free
from debt"
During the fiscal year ending June
80, 1922, the various state offices and
institutions saved from the appropria-
tions made by the 1921 legislature.
S2,0S2, ,299.63 plus fees totaling ST.
155, 5,727-24, or a. total of $3,23S, ,O26.S77,
the treasurer reports.