Cast Your Vote Saturday
CHARLES M. JOHNSON
For Governor
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hmm HERE IS HIS PROGRAM
SCHOOLS “The most important activity of the State Government is the school system.’’ On this conviction ( harlie Johnson
proposes increased salaries for teachers, reduction of the teaching load, State appropriations to aid counties in building schools,
enforcement of compulsory school attendance laws, improved school health program, further development of lunchroom program.
WELFARE “The responsibility of an enlightened and humane children and the afflicted is direct and inescapable. Ihe ap-
ShHHH propriation for these purposes must be brought into line with the high costs of living of the day." He further proposes expansion
of library facilities, greater attention to the care and treatment of mental patients.
ROADS A staunch advocate for immediately improving adequate farm-to-market of the all-weather
type.
HEALTH -Charlie Johnson approves the medical care program. Furthermore, he believes that North Carolina should have a
fuller school health program to insure every child in every section, however disadvantaged, a fair chance at a healthy start in
AGRICULTURE He believes the State should give emphasis to the services rendered farmers; wants to see them serve on ali
important boards and commissions; stands for improvement of marketing tacilities: establishment of a well-rounded agricultural
program for North Carolina; believes that production adjustment and price support are fundamental and necessary for the pro
y tection of farmers.
» TAXES Charlie Johnson is against tax increases. On April io. 1948. he went on record for removal of the sales tax irom
served in hotels, restaurants and all public eating places. He advocates elimination of taxes paid by tanner- on machinery and
fuel used in curing tobacco. He also advocates a review of the State's tax structure with a view to removing inequitie-. Further-
R|||R|RHRHRHH(RR more, he believes that surplus state funds should be returned to the people.
MUNICIPALITIES In his platform address Charlie Johnson said he would advocate a constitutional amendment to correct
the present system that prevents the cities, towns and counties from handling many matter- of vital local concern. In -hurt he
■RRRHRHRRRRRRH stan( ] s for ■•Home Rule’—that is. less from Raleigh and more from the local units. He believes that we should u.ncentrate in
Raleigh only those governmental functions which are state-wide in their application and which the State c an perform w
INDUSTRY He advocates a program looking to the industrial upbuilding ol the State, by attracting new industrie- within cm
HHRHRHHHJHHfIHHHRR borders and expansion of present facilities. The blending of industry and agriculture makes for a well-rounded economy.
PARTY Charlie Johnson believes in the Democratic Party and has said so often. He is proud of its record ol achievement. He
WmU wants to see its progress continue.
Here Are The Trie Faets Abeut The State’s Bauk Depesits
QUESTIONS: . , . .. OKn
Why are funds of the State Treasury deposited m more than zou
Banks? *'
Are funds of the State Treasury adequately protected against pos
sible bank failures?
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Why are banks not paying interest on State deposits?
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Why is there no legal authority to invest certain funds, such as
the Highway Fund and 1947 Permanent Improvement Fund/
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How is General Fund surplus invested?
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Who are the members of the Council of State?
Since hanks are prohibited by Federal Reserve from pay
ing interest on State deposits, why shouldnt the State Treas
i4rer invest the Highway and Permanent Improvement Funds
as Mr. Scott would have him do notwithstanding the absence
of legal authority.? .
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Why didn’t Mr. Scott raise the issue about interest on the deposits
or investment of the 134 million dollars balance at July, 1947,
and the 125 million dollars balance at January 1, 1948, when
he was a member of the Council of State and knew these facts
atthetimp? , • ' : r
What was the cause of increase of the General Fund Balance be
tween January Ist and March 31st of over 40 million dollars
and why has only 15 million dollars of this balance been in
vested? '
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THE CHOWAN HERALD, EDENTQN, N. C., THURSDAY .JUNE 24, 1948.
ANSWERS: ; ,
For the same reason that funds of the Federal Treasury and of other
states and local governments and business concerns are deposited in
banks. There is no other available or practical and safe place to
keep them.
Every bank in which State funds are deposited has furnished and
must always furnish ample security to guarantee the State against
loss.
All banks are members of Federal Deposit Insurance Corporation
under the direction of the Federal Reserve System. In August,
1937, the Federal Reserve Board invoked a regulation that banks
shall not pay interest on demand deposits of public funds.
At the time these funds were appropriated by act of the 1947 Gen
eral Assembly it was assumed that they would have been practic
ally spent or encumbered by March 31,1948. Therefore, the Legis
lation did not authorize Investment.
Only in U. S. Government obligations by the State Treasurer after
he has first obtained the approval of the Governor and Council of
State, when in their judgment there will remain a cash balance
sufficient to meet appropriations of the General Fund.
The Governor, State Treasurer, State Auditor, Secretary of State,
Insurance Commissioner, Commissioner of Agriculture and State
Superintendent of Public Instruction. The Attorney General is
legal adviser and attends all meetings of the Council.
First, he would be subject to impeachment for exceeding his auth
ority. Second, he is bonded in the sum of $750,000 in surety com
panies for the faithful performance of his duties and against his
mishandling of State funds. The surety companies would be priv
ileged to, and most likely would cancel his bonds. He would there
by be disqualified to hold office. '
If Candidate Scott’s accusations against State Treasurer Charlie
Johnson were true, he himself was deliberately neglectful of his
duties and responsibility’to the people of North Carolina while he
was Commissioner of Agriculture and a member of the Council of
State.
One of the State’s greatest sources of income for the General Fund
(income taxes) is collected between March 15th and 31st of each
year. The average total amount spent per month for General Fund
appropriations is about 8 million dollars and income received dur
ing the spring and summer months is smallest; always less than
the amount paid out.
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