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The Illinois Treasurer's office was established
in 1812 when Illinois became a territory
of the second grade (Terr. L. 1812, p. 5).
The 1818 Constitution called for the State
Treasurer to be appointed biennially by a
joint vote of the General Assembly. Under
the Constitution of 1848 the method of selection
was changed to popular election but the two-year
term was retained. This provision remained
in effect until 1959 when a constitutional
amendment increased the term to four years.
Under the Constitution of 1870 the State
Treasurer was prohibited from succeeding
himself. This restriction continued in force
until the 1970 Constitution removed it.
In 1819 the General Assembly passed an act
outlining the primary functions of the State
Treasurer and the Auditor of Public Accounts
(L. 1819, p. 240). The Treasurer was made
responsible for receiving the proceeds of
all taxes and other public moneys of the
state and for making payments of authorized
disbursements from the State Treasury. Such
payments could be made only on warrants or
certificates issued by the Auditor which
were countersigned by the Treasurer. The
Treasurer was required to deliver to the
Auditor a monthly account detailing all receipts
and disbursements made from the State Treasury.
He also was to return all warrants on which
disbursements had been made for cancellation
by the Auditor.
Another important duty of the State Treasurer
is the investment of state funds. This function
began in 1908 when legislation required the
Treasurer to deposit all moneys received
on account of the state in state banks (L.
1907, Adj. Sess., p. 32). Initially banks
for such deposits were chosen solely by the
Treasurer; they were to be institutions which
in his opinion were secure and would pay
the highest rate of interest. The procedures
changed somewhat in 1919 when legislation
required all banks wishing to receive state
deposits to file sealed proposals concerning
interest rates and other terms of deposits
(L. 1919, p. 954). Banks receiving state
funds were required also to deposit securities
with the Treasurer which were equal in market
value to the amount of state funds deposited.
Subsequent legislation has given the Treasurer
an increasing number of options for investing
state monies. These include investing in
U.S. Treasury bills (L. 1937, p. 1209), shares
and investment certificates of savings and
building and loan associations (L. 1947,
p. 1717), and bonds of counties and municipal
corporations (L. 1955, p. 1207).
The State Treasurer also has performed a
number of other duties relating to state
finances over the years. He has countersigned
most state issues of bonded indebtedness
and has served as a trustee of local bond
funds established in the State Treasury for
payment of principal and interest on bonds
issued by local governmental units. He also
has been designated ex officio custodian
of certain monies granted to the state by
agencies of the federal government, including
those dealing with Social Security, forest
lands, and the Federal Emergency Administration
of Public Works (L. 1939, p. 1166); flood
control and navigation (L. 1955, p. 1867);
and highways (L. 1957, p. 375). The Treasurer
has served as an ex officio member of a wide
variety of boards and commissions including
the State Canvassing Board (L. 1825, p. 3;
L. 1871, p. 380), the Commissioners of State
Contracts (Rev. Stat. 1874, p. 993), World
War I and World War II Service Recognition
Boards (L. 1921, p. 66; L. 1946, p. 2), and
the Public Aid Commission (L. 1941, vol.
I, p. 296). He has served also as trustee
for state retirement funds established for
teachers (L. 1915, p. 649) and judges (L.
1941, vol. I, p. 527) and as ex officio treasurer
of the State Employees' Retirement System
(L. 1943, vol. 2, p. 350).
104.001
CORRESPONDENCE.
1862-1865; 1872-1873; 1875-1918. 134 vols.
Index for outgoing correspondence only, 1875-1901.
Correspondence primarily with state officers
and employees, county and other local officials,
officials of other states, banks, and private
individuals principally concerns receipts
into and disbursements from the State Treasury.
Receipts primarily resulted from tax collections,
sales of state lands, payments of various
fees, and sales of state publications (e.g.,
revised statutes, session laws). Disbursements
resulted from payments on warrants issued
by the Auditor of Public Accounts primarily
for interest and principal on state and local
bonded indebtedness, salaries of state officials
and employees, other labor or materials furnished
to the state, and refunds of taxes or fees.
104.002
INSURANCE COMPANIES SECURITY DEPOSITS CORRESPONDENCE.
1869-1877. 1 cu. ft. No index.
Incoming correspondence from insurance companies
concerns security deposits to insure solvency.
Deposits include stocks and bonds and real
estate mortgages.
104.003
CITY AND COUNTY BONDS REGISTERS.
1866-1876; 1879; 1891-1914. 47 vols. No index.
Entries include city or county bond numbers,
interest rate, amount paid on principal,
total amount paid, payee, face values of
bonds and coupons, date coupons due, place
where bonds payable, and date bonds due.
104.004
INTEREST REGISTERS.
1825-1826; 1847; 1855-1877; 1879. 31 vols.
No index.
Entries show transaction date, payee, interest
rate, and amount paid. Securities include
internal improvement stocks, liquidation
bonds, Illinois and Michigan Canal bonds,
six percent refunded stock, and six percent
Civil War bonds.
104.005
JOURNALS.
1821-1825; 1827-1830. 2 vols. No index.
Entries show payee or payor, amount of receipt
or disbursement, warrant number, and transaction
date.
104.006
DAYBOOKS.
1821-1825; 1867-1869; 1872; 1875-1915. 48
vols. No index.
Daily record of receipts and disbursements
shows type of transaction, credit or debit,
and new balance.
104.007
ILLINOIS AND MICHIGAN CANAL BOND COUPONS.
1858-1859. 1 vol. No index.
Coupons show serial number, value, and date
interest due.
104.008
REVENUE LEDGER.
1821-1826; 1833-1835. 2 vols. No index.
Entries show party with whom business transacted,
type of transaction, amount of money paid
the state, and the transaction date. Types
of transactions include land sales and tax
payments.
104.009
STATE BANK ACCOUNTS.
1823-1826. 1 vol. No index.
Accounts of the State Bank filed with the
Treasurer show amounts deposited and amounts
paid out to individuals and companies.
104.010
REGISTER OF STATE BONDS NEW STOCK.
1837-1844; 1847; 1861. 1 vol. No index.
Entries show amount of bond or stock, remarks
(i.e., burned, funded, canceled, received
from the State Bank of Illinois), number
of bonds, and date of issue. Types of securities
include State House bonds, Illinois and Michigan
Canal bonds, State Bank stock, and internal
improvement stock.
104.011
RECORD OF MUTILATED NOTES RETURNED FOR DESTRUCTION.
1854-1855. 1 vol. Index.
Record of notes returned to the Auditor of
Public Accounts include bank name, serial
numbers, denominations, and total value of
notes destroyed at each burning.
104.012
BANK NOTES IMPRESSIONS RECEIPTS.
1861-1864. 1 vol. No index.
Entries show number of notes issued, denominations,
serial numbers, date of receipt, number of
sealed packages, and bank name.
104.013
BANK DRAFT STUBS.
1862; 1865; 1873; 1877-1879; 1902; 1905.
14 vols. No index.
Entries show draft number, payee, amount,
and running totals.
104.014
BOND INTEREST PAYMENT STUBS.
1848-1859; 1861. 12 vols. No index.
Entries show coupon number, rate and amount
of interest, installment date, and amount
of stock. Securities include interest bonds,
new internal improvement stock, and Illinois
and Michigan Canal stock.
104.015
SECOND SPRINGFIELD STATE HOUSE EXPENDITURES.
1869-1872. 1 vol. No index.
Entries show transaction date, voucher number,
payee, and account category (i.e., foundation
and drainage, mason work, iron work, employees).
104.016
PAYMENT LEDGER.
1827-1832. 1 vol. No index.
Entries show payment date, warrant number,
payee, and fund accounts. Payments are drawn
on Executive, Legislative, Judicial, and
Military Scrip accounts.
104.017
SECURITIES REGISTER.
1876-1925. 1 vol. No index.
Register is of securities held in trust by
the Treasurer. Entries show deposit date,
type of instrument, date due or renewable,
interest rate, market value, and date of
withdrawal. Real estate mortgages sometimes
are included.
104.018
SIX PERCENT REFUNDED STOCK REGISTER.
1859-1869. 1 vol. No index.
Entries for refunded stock issued shows bond
number and date, date of issue, number of
coupons, to whom issued, amount, and date
due. For bonds surrendered the old bond number
and date, payee, returner's name, amount,
and amount due are shown.
104.019
BANK NOTE PRINTING AND BURNING RECORD.
1861-1863. 1 vol. No index.
Record shows dates notes ordered, received,
and delivered with denominations and serial
numbers indicated. Also included are serial
numbers and denominations of notes destroyed
by burning.
104.020
SEMINARY LANDS RECORD.
1829-1832. 1 partial vol. No index.
Record of seminary land purchases show date
of purchase, purchaser's name, county, legal
description, number of acres, price per acre,
total, and receipt number.
104.021
FUND RECEIPT ACCOUNTS.
1823-1824; 1827-1837; 1841-1916. 19 vols.
No index.
Entries show payee, amount, transaction date,
and fund credited. Funds include Game and
Fish, Pure Food, Board of Administration,
School, University, General Revenue, Local
Bond, Kaskaskia Commons School, Teachers'
Pension and Retirement, Miners' Examining,
and Unknown and Minor Heirs.
104.022
FUND LEDGERS.
1862-1933; 1936-1942. 18 vols. Index.
Entries show date and description of transaction,
amount, and fund debited or credited. Funds
include Revenue, Interest, School, State
Debt, Central Railroad, Delinquent Land Tax,
Unknown and Minor Heirs, War, Hancock County
Interest, State Food Commissioners, Fire
Marshal, Game and Fish, Road, Waterway, School
Textbook, and University of Illinois.
104.023
BOND FUND ACCOUNTS.
1837-1843; 1847; 1853-1871; 1873. 1 vol.
No index.
Entries are for state bond purchases and
show security type, certificate number, amounts
of principle and interest, party from whom
purchased, and dates purchased and canceled.
Also included is the Governor's proclamation
authorizing the purchase of securities.
104.024
BANK STOCK ISSUED REGISTERS.
1837-1865. 4 vols. No index.
Entries of bonds or bank stocks issued show
bank's name, number of bonds, date issued,
to whom issued, date payable, amount due,
number of coupons, and payee. Registers also
show that securities for stock issued were
deposited with the State Treasurer.
These records are available at the Illinois
State Archives, Office of the Secretary of
State.
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