The treasurer also disburses money. To disburse is to pay out, and the treasurer cannot disburse without a warrant from the auditor (see next section).
The warrant is a writing giving the treasurer power to pay money.
The treasurer pays the interest on State bonds. A bond is a written paper by which a person binds or pledges himself to pay a certain sum of money before a certain day. Sometimes the government has to borrow money, and when it does so it issues bonds to the persons who loan the money. In these bonds the government binds itself to pay the money by a certain time, and to pay a certain amount every year as interest until the princ.i.p.al (the full amount borrowed) is paid back.
The sinking fund is money set apart at certain times to pay the debts due by the government. It is in charge of officers called commissioners. These commissioners hold bonds for debts due to the government on account of the sale of public lands, and the interest of the State in railroads and other corporations. Express companies and insurance companies whose head-quarters are in foreign countries, and who do business in Virginia, are required to give bonds to the State as security that their obligations to citizens of the State shall be honestly carried out.
AUDITOR OF PUBLIC ACCOUNTS.
Elected. By the General a.s.sembly for term of four years beginning on first day of March succeeding election. Salary, $4,000.
Duties. Shall audit all pecuniary claims against the commonwealth, except those chargeable to the Board of Education, Corporation Commission, or any corporation composed of officers of government, of the funds and property of which the State is sole owner; shall settle with officers charged with collecting the revenues of the State; shall issue warrants directing the Treasurer to receive money into the Treasury, and warrants upon the Treasurer in payment of all claims except those mentioned above; shall report to the Superintendent of Public Instruction by September 15th, in each year, ninety per cent, of the gross amount of funds applicable to public school purposes for the current year; shall make quarterly and annual reports to the Governor.
An auditor is a person who audits or examines accounts or statements of the receipt and expenditure of money, to see that they are correct.
Pecuniary claims are claims for the payment of money. Such claims made against the commonwealth are not paid until they are examined by the auditor of the public accounts. Claims that are chargeable --that is, to be charged--against the Board of Education, the Corporation Commission, or corporations of government officers, are not audited by the auditor of public accounts, but by the second auditor (see next section). To report ninety per cent, of the school funds is to state the amount to that extent that is ready to be apportioned or divided among the cities and counties for school use (see under sections Superintendent of Public Instruction and School Funds).
SECOND AUDITOR.
Elected. By the General a.s.sembly for four years from the first of March next succeeding election. Salary, $1,700 and commissions allowed by law.
Duties. Shall register all coupon and registered bonds and fractional certificates issued on account of the public debt, and all bonds redeemed and cancelled by the Commissioners of the Sinking Fund; shall be the custodian of the books of the Commissioners of the Sinking Fund, and securities for money belonging thereto; shall audit all claims on account of the Board of Education, Corporation Commission, and any corporation composed of officers of government, of the funds and property of which the State is sole owner; shall issue his warrant for all moneys received into the Treasury, or drawn out of it on account of these boards and corporations, the Sinking Fund and the Literary Fund; shall make quarterly and annual reports to the Governor.
To register bonds is to enter particulars of them in books kept for the purpose. Coupon bonds are bonds with interest coupons or certificates attached to them, and bearing no name, but payable to any person who presents the coupons at the treasury at certain times. Registered bonds are bonds bearing the name of the person who receives them, and payable to that person or any person to whom he may sell or transfer them.
Fractional certificates are certificates or bonds issued for any fractional part of one hundred dollars of the public debt. All other bonds are issued for amounts of one hundred dollars or some multiple of a hundred.
A bond is redeemed--that is, bought back--when it is received at the treasury or office of the sinking fund and the amount of it is paid to the holder. The bond is then cancelled. To cancel is to deface or destroy so that the paper or bond cannot be used again.
A security is something given or deposited as a pledge that money loaned shall be repaid. Debts may be due to the sinking fund by railroad or other companies in which the State has an interest, and securities have to be given that such debts shall be paid.
The literary fund was formed in 1810 from the sale of public lands, some of which had been possessed by the Church in colonial times. The fund has since been increased by the sale of lands given to the State by Congress for public school purposes. and by fines collected for offences committed against the State, and by donations made by private individuals. It is called the literary fund because it is used for purposes of education.
Register of the Land Office.
Elected. By the General a.s.sembly for a term of four years from the first of March next succeeding election. Salary, $1,800. He is also Superintendent of Public Buildings.
Duties. Shall issue grants to all purchasers of waste lands; record all grants and patents, and furnish lists to the clerks of the county and corporation courts; shall keep the records, doc.u.ments, and entries of Northern Neck Lands, and of lands granted, or to be granted, by the Commonwealth; shall have care of the public buildings and all other public property at the seat of government not placed in charge of others; shall have control of Capitol Square; shall try, prove, and seal weights and measures; shall report semi-annually to the Auditor of Public Accounts.
The land office is the office in which business connected with the sale or granting of public lands is conducted. This business is under the control of an officer called the register of the land office, and public buildings in the State are under his care. He is also superintendent of weights and measures. At his office are kept weights and measures, provided by the State, to be furnished to counties and corporations as standards by which the weights and measures in business use throughout the State are tested. The State weights and measures are tried by the register once every ten years, and when proved to be correct are marked with a seal.
In every county there is a sealer of weights and measures, who must examine, once every three years, the weights and measures in use throughout the county, to see that they are up to the standard.
A patent is a government paper granting to some person or persons the sole right to any lands, privileges, or inventions.
The Northern Neck was the name given in colonial times to the peninsula lying between the Rappahannock and Potomac Rivers.
State Corporation Commission.
Composed of three members appointed by the Governor, subject to confirmation by the General a.s.sembly, for a term of six years each. Salary, $4,000 each.
At least one of the Commissioners must have the qualifications prescribed for judges of the Supreme Court of Appeals.
Duties. Shall issue all charters or amendments thereof for domestic corporations and licenses to do business in the State to foreign corporations; arrange for visitation, regulation and control of all corporations doing business in the State; prescribe the forms of all reports and collect and preserve such reports.
Shall control all transportation companies; fix the amount of their taxes; prescribe rates, charges and cla.s.sifications of traffic and enforce the same.
Has the powers and authority of a court of record to administer oaths and compel attendance of witnesses, and all appeals from the Commission shall be to the Supreme Court of Appeals only. Shall make annual reports to the governor.
The term corporation or company includes all trusts, a.s.sociations and joint stock companies having any powers or privileges not possessed by individuals or unlimited partnerships. Charter means the charter of incorporation under which any such corporation is formed.
A transportation company is any company or person engaged in the business of a common carrier. A transmission company includes any company or person owning and operating a telephone or telegraph line for hire. Public service corporations include transportation and transmission companies, gas, electric light, heat and power companies and all persons authorized to use or occupy any street or public place in a manner not permitted to the general public.
Bonds are certificates of indebtedness issued by any corporation and secured by a mortgage or trust deed.
Domestic corporations are such as are chartered under the laws of Virginia. Foreign corporations are such as are incorporated under the laws of some other state or country.
The General a.s.sembly may place under the control of the Corporation Commission divisions or bureaus of insurance, banking, etc.
Every domestic and foreign corporation doing business in the state shall file in the office of the Corporation Commission an annual report as prescribed by law setting forth various facts regarding its business, and organization, the names of its officers, its place of business and such other information as may be required by law.
A corporation may be established for the transaction of any lawful business or to promote or conduct any legitimate object or purpose.
Any number of persons not less than three may a.s.sociate to incorporate a college, an alumni a.s.sociation, a literary society, a cemetery company or a.s.sociation, a fraternal benefit a.s.sociation, a fraternal a.s.sociation, society, order or lodge, a society for the prevention of cruelty to children or animals, a charitable or benevolent a.s.sociation, or social, hunting, fishing club, or any society, organization or a.s.sociation of a similar nature.
A corporation may be limited as to duration to the time stated in its charter. But when no time is so limited it shall be perpetual, subject to the power of repeal reserved to the General a.s.sembly.
A corporation may sue and be sued in any court of law and equity.
With regard to railroads, ca.n.a.ls, and all transportation and transmission companies, the State Corporation Commission has all the power and authority formerly belonging to the office of railroad commissioner; examines them as to their condition, the causes of accidents, etc.; requires changes and improvements; contracts with them for the conveyance of convicts, lunatics, etc.
Every railroad company in Virginia has a charter from the State, in which are stated certain conditions on which, in the interests of the people, they must carry on their business. It is the duty of the Commission to examine the railroads from time to time to see that they are operated in such a way that there shall be no danger to the people who travel upon them.
To contract is to make an arrangement or a bargain for some work to be done. The Commission makes contracts with the railway companies for carrying convicts to prison from the place in which they are tried and convicted, and for carrying lunatics to the asylum or hospital in which they are to be confined.
With regard to internal improvements in which the State is interested, the Commission has all the authority formerly exercised by the Board of Public Works; appoints State directors and State proxies for works in which the State is interested; keeps a register of all property belonging to the State; represents the State in relation to all corporations whether as a stockholder, creditor, mortgagor, or otherwise.
Internal improvements are public works of various kinds for the improvement of the State, such as railroads, ca.n.a.ls, highways.
Money of the State may be invested in the capital of corporations carrying on internal improvements, and it is the duty of the Corporation Commission to watch and protect the interests of the State in such undertakings.
For this purpose the Commission appoints directors and proxies to act in such companies. A proxy is a person appointed as a subst.i.tute for another. Proxies are appointed to represent and vote for the State at meetings of corporations for internal improvements, in which the State holds stock.
A TOLL is a charge made for pa.s.sing certain ca.n.a.ls, bridges, etc.
The Commission has the power to fix the amount of toll when it is not specified in the charter of the ca.n.a.l or bridge company.
Superintendent of the Penitentiary.
Appointed. By the Board of Penitentiary Directors for term of four years. Salary, $1,600.
Duties. Shall reside at the Penitentiary and be its chief executive officer; shall have control and custody of the property of the Penitentiary; shall employ a guard; shall report quarterly to the Governor, and monthly and annually to the Board of Directors.
The PENITENTIARY is the State prison at Richmond in which persons convicted in the State courts are imprisoned.