The job of Oregon state
treasurer is not a flashy one, and choosing a new one is not high on the
list of most voters. But the job is important.
The state treasurer is Oregon's chief financial officer, overseeing billions
in state investments, issuing state bonds and managing the portfolios of the
Public Employees Retirement Fund, the State Accident Insurance Fund and
Common School Fund, among others. The treasurer also sits on the state Land
Board along with the governor and secretary of state, managing state land
held in trust for the benefit of the Common School Fund.
At first glance, it might appear that a business executive from the private
sector would be the ideal person for the job. Republican Allen Alley, with
just such a bakground, thinks so.
Alley, who lives in Lake Oswego, was the founder and chief executive of
Pixelworks, a successful high-tech company that later ran into financial
trouble. He spent a year as a deputy chief of staff for Gov. Ted Kulongoski
before launching his campaign for treasurer.
Constitution Party candidate Mike Marsh is also on the ballot.
Kulongoski has endorsed Democrat Ben Westlund, a state senator from the Bend
area. Westlund, a former Republican who became an independent and then a
Democrat, points to his legislative experience, especially as chairman of
the budget-writing Ways and Means Committee, and his extensive knowledge of
state government.
Westlund has private-sector experience, too, owning and operating businesses
for most of his career.
While the treasurer's job certainly revolves around money, it is
specifically government money for government purposes, and a thorough
knowledge of how that government operates is part of the job. Most Oregon
treasurers, including the outgoing one, Randall Edwards, came to the job
with legislative experience. Edwards has served two terms and is not
eligible for a third.
Both Alley and Westlund are intelligent, capable, well-meaning candidates.
But Westlund's government background gives him the edge in this race. We
urge his election.
