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a treasurer, whether you see his duties
continuing as they are now. Is there going
to be a reorganization or a restudy by the
legislature so that some of these activities
can be allocated property?
THE CHAIRMAN: Delegate James.
DELEGATE JAMES: I think this would
have to depend upon the reorganization sys-
tem which we are providing in the execu-
tive article.
Much has been said about the power of
the governor from a fiscal standpoint. The
governor of Maryland is a very powerful
individual. Anyone who serves the gover-
nor must recognize that the theorists — and
I do not want to point any fingers at the
theorists because they are very valuable
and often far ahead of the politicians — do
not understand the power of the Maryland
governor.
We are adding to his powers, the power
to permit him to select the heads of all
principal departments. These department
heads must serve at the pleasure of the
governor. We are giving him full powers
of reorganization so that added to his fiscal
powers we are giving him all of these ad-
ministrative powers.
If the compromise is developed, then at
least we will be able to salvage a public
Board of Administration, call it what you
will, across which important decisions will
go.
With reference to the treasurer, I would
assume that his functions which I listed
relating to deposit and disbursement of
state funds and twenty-two active state
banks would be maintained, and he would
continue with his accounting for all out-
standing debt and for payment. That is an
expanding function because our ability to
incur debt appears to exceed almost any
of our other talents in modern America.
He would also continue investing temporary
cash surpluses, and be custodian of invest-
ments, deposits, and pledged securities. He
would be agent for the sale of bonds, and
agent for insurance purposes. However,
when you come to awarding insurance, I
would agree with Mr. Sickles; going into
this would be in order. Whether this is a
proper function should be a matter of in-
tense scrutiny and review.
The treasurer keeps all records for audit
purposes. His ex officio functions might be
continued as a member of the retirement
system, but I cannot see much reason for
keeping him on the board of canvassers;
that is one of his present functions, and
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he was put there because it had been recog-
nized in Maryland history that here you
have a reliable individual, a person agreed
upon normally by the government and
legislature as an outstanding individual
whom everyone can trust. In addition, his
functions on the Administrative Board
should be continued. I would think generally
speaking the treasurer would be doing
much of what he is doing today with possi-
bly a little closer alliance with the Gen-
eral Assembly.
THE CHAIRMAN: Delegate Raley.
DELEGATE RALEY: Going back to the
investment of state funds and the manage-
ment of state money is a very important
thing, because every tax dollar that is
spent is involved here so how we can get
the most efficiency from it and how we set
up the structure of this constitution is most
important.
DELEGATE JAMES: I agree with you
one hundred per cent.
DELEGATE RALEY: How are we going
to have that managed by one person in one
simple location. I think it is important be-
cause at present four people or four
branches are all off managing the money.
I know we cannot write it into the con-
stitution, but how we set up the structure
is important.
DELEGATE JAMES: The management
of the money is in the hands of the treas-
urer. In the instances of the retirement
funds we have an investment committee.
DELEGATE RALEY: He does make the
investment of state funds which is very
significant.
DELEGATE JAMES: Only surplus
state funds.
THE CHAIRMAN: Is there a further
question, Delegate Raley?
Are there any further questions of the
minority spokesman?
DELEGATE BOTHE: Delegate James,
how much of the time of the state treasurer
does he spend on State's business?
DELEGATE JAMES: That is very dif-
ficult to say. If you asked me how much
time I spend on state business, I could not
tell you. It is most of the time, although
it is hard to convince anyone of that.
I just do not know.
DELEGATE BOTHE: He does, how-
ever, hold down a full-time occupation in
private life.
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