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"scrip" Explained

"scrip" Explained image
Parent Issue
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Frota the Lcinsin Kepublícnn. The Legislatura iu 1859 provided for the laving out and estublishing of State roads through the moro unsettled parts of the State, tho samo to bo paid for in swiimp lands, orfrora themoneysreceived fruin sales ot' swainp lands, ut a cost not exceeding (VIO acres of land for each niüo of road oonstructed. Local corainission ers were appointed for each road ordered to be constructod, and a " Board of Control" was oreated, consisting of the üovvemor, Secretary of State, Auditor General, Stuto Tretisurer, Attorney General, and Cominissioncr of the State Land Office, to which board was delegated the pover to suspend surveys or operationa on any routes, or direct re-survnys, and also to dii'ect froiu time to time what works shall bo commoneed, suspended or discontinued. All contracta were required to bu approved by the Governor, and the uertifloate of the local comíais sioners of the fulfillment of the contract was iequircd to bo iilod before any payincitt for the same could m made. Xho law has been amended at nearly every session of Ihe Logislature siuce its first onactmeut, but the general features remain unchanged. liin a party is entitled to receive gwatnp land in payment of his contract, the Auditor General, apon tho proper uhowing being made, issues a " Swainp Land Warrant," directel to the State Trcasuror, and orders liim to pay tho party named in tho warrant such an amount as may be applicd for - either the whole or a portion of the amount duo the tractor - in swamp ïtiuu. ino warrant stntos tho name 01 the road tor whioh the payinent is mode; also where the land must 1)0 taken, eitber in a particular oöunty, or the Upper or Lower 1 la generally. These warrants pass 1 ly from the Auditor General to the Stato Treasurer. The latter ofHcer i formerly kept au account on the btck ol i each warrant, charging so uiuch as might 1 be called for from time to time, in ment of land, iintil the whole amonnt of i the v ivi'.uit was exhau&ted, but as the i business increased, this systein was found ' troublesome, and a " Swamp Land ' nal" was eubstituted, i&'wbioh an i oount is opened with esoh warrant. i tificatcs of purohase of swamp land are made out in the State Land OtKce, and upon the margin of eaoh certifícate which is to be paid for in "scrip" the nuinber of the land warrant to which it is to be eharged is written. The cortiiicato is then passed to tho Stato Treaeurer, who examines tho same, enters it npon a " Sales Book," charges tho amount of the warrant on his " Swamp Land Journal," indoraes it " examined and entered," and returns it to the Land Office, from whence it is sent to the Seoretary of State, who fllee the certifioate in his office and issues a patent for Uie land. Where individuals deal largoly in scrip accounts are opened espeoially for their oonvenienoe in the "Swamp Land Journal," tho amount of oach warrant i oredited in the account, and eaoh certifícate is charged ; the directions for debits and credits coming in all oases from the Commiasioner of tho Land Office. Tho word " scrip," sofrcquontly applied to the'-o transactions, is a fiotitious term meaning the credits on tho "Swamp Land Journal." Undex the State ConBtitution, no scrip or bond or evidenoe "i indilitedness can be issued by tho State, of the nature above described. This is the ivuy the Cedar Bapids 7ifipubliean puts it : " Don't bovrow a newspapcr: noirly all the prevailing epideml ics are spread in this wny. Ifyou don't ) want tho smallpox, talco your papor di root from the publisher."


Old News
Michigan Argus