Doling Out The Trust Funds
In the Senato (State) on "Wednesday, Mr. Cook offercd the following : Resolved, Tliattlie State Trcasurer be re cd to rcpoi't to 1he Sonate without delny the immes ot Imnks wiili whiota moDOy belongtng to the State is depoftited, the amount in each respectivlv, the l'oitd or bonda taken to securo the State froto loe?, the uamea oí the signora ot aaid bond, oud tho amouul of liatiility oí each signer thereof. Mr. Cook regarded the coinm unica tion of the Statu Truasurer, presented yesterday, s in evasion of thu resolution of the Senate and an insult to the Sonate. Tlio Stato Treasurer is President of a b;nk in Battlo Creek. Who knows but what the public fuuds are deposited thereV Tlie Governor 13 interested in a bauk in Detroit. Who knows how much is kopt there? Tho financial losses and uncertaintios of the times adraonish to caution and vigilance in those things. Although we may have all confidence in public officers, thoy aro still liable to aceidents. - Ho insisted that the amount in the treasury was much larger than it should be; that inatead of boing deposited with banks at four per cent. it should be usod in canceling State bonds that are drawing sevon per cent. Mr Cook had read an extract from au Ann Arbor paper, in which it was couiplained that a draft of one of the public institutions had been allowed to go to protest, and that requisitions upon tho treasury for small amonnts were doled out like pulling teeth. Mr. DoLand oxplained that if thero was any dolay in meeting requisitions upon tho treasury by the institutions it was bocauso they had notflled vouchers of the expenditure of previous installments, as required by law. Ho denied that any draft had been allowed to go to protest. Mr. Cook continued, that he was detcrmined to smoke out these treasury mysteries. In October last the draft of the State Treasuror, in favor of a State institution and on a Detroit Bauk (which then held nearly or quite $500,000 State funds subject to draft), icati protested for nou-paymeut. Let Senator DeL.vnd put that in his pipe and smoke it.
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Old News
Michigan Argus