The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1924-10-24
TOrSt0nSOn States
Position
WILL CONTINUE GOOD WORK STARTED BY
DAN OLSON IN THE OFFICE OF THE
COUNTY TREASURER

The duties of the county treasurer is BRIEFLY out
lined in the opening paragraph OF Section 4I9O Oh the
Revised Codes of 1921, as follows:
"The County treasurer must
RECEIVE ALL MONEYS BELONGING
TO THE COUNTY AND ALL OTHER
PAID TO HIM. SAFELY KEEP THE SAME,
AND APPLY AND PAY THEM OUT, Rem
DERING ACCOUNT THEREOF AS REQUIR-
ED BY LAW,' etc.
After thus laying down the principal formula of the
duties of the county treasurer it further in detail pre-
scribes how those duties are to be carried out.
One would think, that the law, which positively
COMMANDS the county treasurer to SAFELY KEEP
the moneys of the county, would definitely and precisely
tell him how to do And it does, as far as any IabI-
ty under the laws of the State concerned But Sher
dan County has found out by dear experience that does
not work out that way.
The law prescribes that county funds shall be de-
posted in the banks within the county To safeguard
the county thus intrusting it's funds to the banks, the
repositories required give bonds ndemnifyng the
county treasurer That is all well and good But 1t also
permits the banks to give personal bonds security for
those deposits The personal bonds are as rule given
bV people who financially interested IN involved
with the banks and whO if anything happens to weaken
impair the integrity of the bank usually sink or swim
with it.
The county commissioners have the authority to
approve disapprOve all bonds submitted by the de-
pOsOries Although they may lawfully approve person
al bonds without being liable under the statutes, morally
they are responsible in case of loss to the county.
D. J. Olson has continually during his two terms as
county treasurer opposed and fought the practice of
ceptng personal bonds security for county funds lie
has continually shown the commissioners and the public
of the past years have proven his contentious In
every instance where the county fully protected by
surety bonds by warrants the county has 9een PAID
An exception thereto is the Antelope DEAL and that be
cause of personal bond approved by the commits
siOnr But for that bunder by the commissioners, the
account would have been pail long ago, and the money
would have available for the retirement of warrants
In NO INSTANCE have the Pounds secured by per-
sonaI bonds been refunded And it is doubtful if the
county will fully realize on It's claims against the
personal bOndSmen.
It used to be the policy of the county treasuers of
Sheridan County, prior the administration of ID. OIL
son. to use moneys belonging to the county to bolster
p and for the benefit of the banks If banker IN those
days had lucrative deal in view, the county treasurer
would very ObigngIy deposit the required funds And
warrants and bonds never called for payment II this
act would in any way nCOmmOde the banker friend The
county funds instead of being used for the payment OF
county debts used banking capital In the exploit
tatOn of the farmers.
The taxpayers are now reaping the harvest of the
old "business administration" And they not yet
through will take another decade before the effect OF
it is entirely overcome
In cas- the taxpayers of Sheridan County see fit to
enrust to me the administration of the treasurers office
pledge myself to the following policy
1. Pay all county and sshOOl district warrants as
funds from the collection of taxes become avail
able.
2. For the security of such funds in banks as must
at all times be held available for immediate needs,
pledge myself to demand surety bonds county war
rants as an indemnity to the county That in sucl
security is not furnished, funds will be withheld.
g. That in the sinking fund of the county
which is tied up in defunct banks, again becomes
available pledge myself to the for the retire
ment outstanding bonds III the bonds cannot De re
tired at the time, to invest such sinking fund in secUri
ties secured by general taxation that the interest accrue
ing bonds may be offset by the interest accrUin
on such investments.
4. To use my best effort to that not only tn
letter of the law, but also the spirit thereof fully com
piled with in the administration of the duties pertaining
to the Office, as outlined in the opening paragraph
5. To conduct the office economically as good SCI
e vice will permit.
From those who in accord with the policies her
outlined respectfully solicit support at the Gener;
Election November 4th.
Yours very respectfully,
Eng. Torstenson.