Jasper Republican, Volume 1, Number 3, Rensselaer, Jasper County, 2 October 1874 — Jasper County Finances. [ARTICLE]

Jasper County Finances.

As a specimen of the “ mismanagement" of our county finances, so much harped upon by the Union , we wish to submit a few facts and figures. By law all county treasurers are required, when there are no county funds on hand with which to pay county orders, to protest them, after which they draw interest until paid, the interest all the time augmenting the county indebtedness. Orders thus protested must either be held by the persons to whom they were issued, for an indefinite time, or placed upon the market and sold at such discount as circumstances shall make it necessary for them to submit to. As a matter of course when this is the case all persons performing services, or furnishing goods for the county, add to their bills not only the probable - amount of discount, but enough more to make them secure in any contingency. Thus the county pays the sacs of the order sooner or later, together with the interest, the discount and a larg e margin besides for contingencies. It is also made the duty of the treasurer, to give notice by publication, whenever there may be county funds on hand, that all orders issued prior to the date up to which the amount on hand will pay, will be redeemed on presentation, after which notice all interest thereon will cease. At the annual settlement in June, 1873, it was found that the state of our county finances would warrant the Treasurer in giving notice that all outstanding orders issued prior to June Is#, 1873, would be redeemed on presentation, which was done. This left the orders issued in June to go to protest and to be thrown upon the market at a large discount, there being no county funds with which to redeem them. Had the County Treasurer done no more than required by law , be would from collection made have have been enabled to advertise from time to time, that he would redeem the oldest outstanding orders, but canid not have commenced

paying aU, as presented, before April Ist, 1874. It would therefore have been necessary to protest all orders issued up to that time, the county paying the interest and discount thereon. But for the benefit of the comity at large and of the persons holding orders, our Treasurer. L. C. Janes—one of the “Ring,” (see Union of any date since its Ed. undertook to set up things for a County Office,) —resolved in August, 1873, ta pay utt orders, as presented, using therefor other funds, over which he had control, and which he might have placed at interest for his own benefit, and not an order has been protested since that time, Let us see the result. Since the June, 1873, isssned of orders were protested there had been issued np to April Ist, 1874, orders to the amount of $11,440.00. Had these orders been protested, as they must have been but for the voluntary action of the Treasurer we would have paid interest thereon, an average of say four months, making $228.80. The holders to realize on them must sell at a discount of about 10 per cent, making $1,144.00. In addition it is safe to say that there would have been added to the bills against the county on which the orders were issued, an average of not less than 5 per cent., $572.00. Then there was the interest saved on $5,183.93 issued in June, 1873, and protested, and which were paid in advance of county funds for that purpose, say on the average four months, making $103.67. — Making a total saving of $2,048.47. Over $2,000.00 saved to the county and the holders of orders by the voluntary action of our Treasurer,whereas he could have saved himself quite a nice sum by the use of the money for his own benefit, which he had a perfect legal right to do; We think a continuance'of such “mismanagement” will be very acceptable.