Show Income From the Public Moneys i f fT I Ii HE retiring o state treasurers treasurer's recommendations a ton anent th the T THE J guarding of state funds as well as as those pf nf cities counties and other subdivisions of government will without doubt bo lie given careful consideration by the legislature Mr fr Mattson l ac accompanies his closing accounting of his stewardship with a measure app apparently carefully carefully care oare- fully drawn which he asks the legislative branch of the state g government govern govern- lvern- lvern ment meat to enact into a law It creates boards of trustees for control of the public funds of the tho various arious units of government n and empowers the collection of int interest upon them hem from the ba banks in which they thoy are deposited Mr Mattson's effort is commendable but its success seems scarcely possible under the existing provisions of the state constitution That instrument provides that the S state treasurer shall be the thc sole custodian of the state funds and that he shall be responsible for them Obviously it is necessary that this provision be amended before the pu public lic moneys can be diverted from the state treasurer lo 10 a board boar of trustees who shall have ha complete control of them No Xo act of le legislature ma may make any other disposition of the tha funds of the commonwealth until the fundamental funda funda- fundamental mental law is re revised by JY iy t the he direct vote of the people For his deference er however to the public s 's sentiment that demands revenue from idle public moneys that are lying in ill the banks the retiring treasurer nn and is to l be e commended for his effort to suggest some method of accomplishing hing this Awl And although any success success success suc suc- cess by legislative action seems imp impossible bem because nse of the constitutional bar har there seems no rea reason o why the state treasurer may not effect some private arrangement with the banks The They have the use of the state moneys s 's an and profitable use it is No good reason can be advanced for failure to reimburse urse the tho state nn and it should be possible to do this even while safeguarding illg the treasurer in his his' stupendous responsibility to the people for fOl tb their ir safekeeping The he incoming tl treasurer if it he lie address himself to the task may be beI beable beable I able to evolve evoh some method of collecting interest on the thc funds entrusted i to him although he must also so p protect himself f fully |