Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1924-02-16
WISCONSIN AID
HER STATE FUNDS
The Badger State Is Able to Show
Other States New Ideas in State
Finances Administration

while other states are having
their troubles over the sdminlstra-
ton Of state funds, Wisconsin which
has pioneered II 50 many other
fields. IS showing her sister states 8
rev idea II the administration q
state finances S5s : demon
strzsing zhzt SAFE funds can Be
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fy .s coed q s-s pSop3s-
s. z S,s1a@5z LsTl-a1. state
-rszsa-er. u ~ a51rsss before the
EfEa-zs Clz5 c 5azzboo We.3nes-
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Other states have invested their
funds in government bonds and other
securities that pay higher rates Of
interest That looks like q stroke Of
good business when one considers
that state banks do not pay more
than 3qe," continued Mr.. Levitan.
But that is not the Wisconsin
idea. Wisconsin believes in placing
her money where it is needed most.
Investing it outside the state may
mean the gain Of feg thousand 70
the state treasury but think Of the
loss to the people! The farmer
tries to borrow money and finds his
banker has none to lend, while the
state treasurer has sent millions out
Of the state. Wisconsin believes in
serving its own people first and so
it's state funds have been made
available TO the communities that
need them.
"Of our 1000 banks, 638 have been
made state repositories. We have
tried to spread our state funds out
over as many communities as pos
slble in order TO bring the greatest
good TO the greatest number.
Placing the state funds in these
many country banks has been a boon
to the farmer. These have been
had days for our farmers. They
have needed all the credit they
could get. By placing $4,000 here
and $4,000 there, all over the state
we have enabled our bankers TO
greatly extend their credit to the
farmers and we believe we have
worked an Unreasonable good to the
entire state
Unlike officials in other states
who have been charged with
manipulating state funds to their
own advantage your state treasurer
has entirely divorced his personal
interests from state affairs. Pre-
yious to my election as state trea-
surer in 1922 our bank had 100000
Of state funds on deposit. Almost
my first official act was to with
draw that money from our bank and
place it in smaller banks in the
northern part of the state.
Another piece of service which
your state treasurer has performed
was to trim out the red tape in his
office and to cut down the expense
of administration so that there will
be more money 70 return in direct
benefits TO the people Just as an
example: it had been the practice
previously to prepare separate
voucher in the office Of the secret
airy Of state for every item to be
paid. This was then presented to
the state treasure, who made out a
check. the exact duplicate of the
voucher We devised a system
whereby the check is made out in the
secretary of states office and then
presented to me for countersigna-
ture. That one little detail has
saved the state $4,000 annually in
cost Of paper, printing and clerical
help. Another $4,000 was saved in
eliminating a useless duplication OF
every letter sent out. There have
been many other places where
corners have been cut and the over
head administration cut down so that
more money could be returned to the
people in improved highways,
better schools. extension of drainage
and forest reserve projects, aid to
ex-service men and many other
public improvements.
I'VE have also tried to keep an
eye open for opportunities to make
money for the state, One of my
duties is to act as commissioner of