Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1923-02-09
WOULD INVEST
STATE MONEYS
fcontl .ued from 90 PaEe.l

INC dAAA0AMA AEkEANHA III NNANA &c
curities. Mr.. Little contends that
the carrying out OF the provisions
Of the resolutions would bring in
about $4,000 additional a year 20
the State
In presenting the resolution Mr..
Little speaking on a question OF per-
sonal privilege. said that he had been
led 10 the top OF the mountain and
shown the promised land by those
who desired him to refrain from
Introducing the resolutions and that
he had also been told that the
championlng OF this cause would
mean his political oblivion. Mr.
Little further stated that he had
been told not a newspaper would
publish the resolutions but that he
did not believe II.
Marked Man. He SAYS
Mr.. Little in opening his remarks.
said there had been much discus
sion about the resolutions in the
halls OF the State House since It be-
came known that he contem plated
a movement 10 stop a leak in the
State finances amounting TO at least
$4,000 a year. Since this fact be-
came known 7 have been a marked
man" Mr.. Little said.
Continuing. he said: Men do
not know and some OF whom have
never heard OF before. have patted
me on the back. They have told
mo how bright . man am and
painted a wonderful rosy picture OF
the political future that awaited me
and 10 Whist political heights I was
to rise from my place here in this
body. In other words they led me
10 the top OF the mountain and
showed me the promised land.
For all this I must refrain from
offering these three little resoiu-
tons. I feel my responsibility 20 the
people OF this State and will not re-
tract or be retarded. / have been
OF representing certain
financial institutions in Delaware. I
want TO brand that as a lie as false
az the INSCRIPTIONS Backyard who
started the report. Ny only interest
is TO save the STATE $4,000 a year
which is now practically given away.
hold no brief for the Delaware
Trust Company. I feel any indepen-
dent banker in the state should
welcome the breaking Of the strangle
hold OF the Farmers Bank on the
state and its finances. Il IL the
strongest and greatest political or
or association this state
mas ever known.
Il have been told that none OF
he newspapers in the State would
publish these resolutions. but l
ion't believe that. I have been told .
hat II means political oblivion for
anyone who champions this cause.
am willing to be crucifed. I want
o go back TO my people with clear
conscience and knowing have
lone my duty. Don't betray the peo-
lie OF Delaware for a mere handful
Z political spellbinders.
The three resolutions follow:
Joint resolution authorizing and
recting the investment or three
ourths OF the bank balances OF the 8
eneral school and sinking funds
+ the State OF Delaware.
Whereas. the average monthly s
AAdAAtH VI AAAt ENAANA as HAAA1NA 49,
mixing funds OF the state OF Della c
are for the year preceding Janu-
~ /, 1928. amounted 10 upwards :
Z two million three hundred thou !
md dollars (S2,3OO.00O); and
Whereas. the State OF Delaware {
ow receives as an income from Z
i'd funds two per cent (2cc) per j
mum on the monthly balances, {
mounting TO approximately forty
x thousand dollars CS46.O0O) per l
mum; and @
Whereas. the investment OF three
urths OF the said average monthly q
.lances in United States govern
ent 4 per cent. certificates would
turn TO the state OF Delaware the
m OF approximately thirty-eight z
ousand eight hundred dollars n
3s,S0O) in excess. OF the present d
come from said monthly balances: Z
erefore be it
Resolved. by the Senate and the go
1use OF Representatives OF the ,al
ate OF Delaware in General As "a
nbly met: al
That the State Treasurer be and
hereby is authorized and directed OF
invest not less than three-fourths ~
the monthly balances OF the gem dc
II. school and sinking funds Of the
tie OF Delaware in securities OF pi
ldy realizable nature; and be it in
'ther ra
Resolved, that the said state nj
easurer. the Secretary OF State. co
I the State Banking Commissioner TN
and they are hereby constituted eli
ard whose duty IL shall be to in
signate the securities in which re
d investments shall be made. tn
e action OF a majority OF said
ard shall be sufficient. III
Joint resolution requiring the st
positories OF State funds to pay Sc
, and one-half per cent. per an
n on monthly average deposits he
eeding fifty thousand dollars. ed
Be II resolved by the Senate and in
use OF Representatives OF the sh
tie of Delaware in General As wi
ably met: tn
That all repositories OF funds OF sai
State Of Delaware be and they tn
hereby required to pay two and sh
.-half per cent. (21h es) per an St;
n on all monthly balance, OF the
ds OF said State over and above shi
sum OF fifty thousand dollars uo
OOOO). sal
oint resolution authorizing and tw
,cting the State Treasurer to sell The
shares OF stock in the Farmers da
TX OF the State of Delaware. now sal
led by the State OF Delaware.
the State OF Delaware Tr'
' holds and is the owner of fifty Tho
IN hundred $4,000 shares OF DR.,