State treasurer's race is all about experience

State Treasurer Joseph Deters says that Ohio's money is in good hands, which is why he deserves to be re-elected Nov, 5 to a second four-year term. But the Republican incumbent's opponent, Democrat Mary Boyle, contends that the treasurer's hands are in the pockets of individuals or corporations doing business with the office, which warrants his defeat.
Who are the voters of Ohio to believe?
We come down on the side of Deters because it is a fact that his risk-averse investment policy that guides the daily investments of the state's multi-billion dollar portfolio is working. In the four years he has been treasurer, the state has not suffered any losses and, indeed, returned record earnings more than $400 million in fiscal 2001 -- at a time when the national economy was slowing.
We aren't as confident of Boyle's contention that "pay to play" has become standard operating procedure in the treasurer's office. While there have been newspapers reports about individuals or companies that have contributed to Deters' campaign getting no-bid contracts, there has been no evidence of a quid pro quo. Neither the newspapers nor Boyle has accused the treasurer of actually soliciting campaign contributions with the promise of state business.
Within the law
Instead, what the Democratic challenger contends is that Deters has pushed the campaign finance law to its limit but has stayed within the law.
As we have argued in another editorial in which a challenger is questioning the incumbent's honesty, it requires more than media reports or vague suggestions of wrongdoing to meet the corruption-in-office test.
We questioned Deters extensively on all the examples Boyle cited to support her claim that the Republican has rewarded his major campaign contributors. From our vantage point, he provided a credible explanation for what has transpired with regard to the contracts entered into with brokers and financial institutions.
Therefore, absent a smoking gun, we believe the race for treasurer comes down to one issue: experience.
In that regard, Deters wins easily. He has implemented modern banking practices and technological innovations that are being replicated around the country, and his unyielding commitment to ensuring the safety of the public dollars has meant stability at a time of great economic volatility.
Deters has been a good steward of the public treasury and is deserving of a second term.