The Portland gazette., 1819-03-23

dppiolhidteu loi WIZ l"' f"S"
tions were expressly specified and e. ! The
interest then due upon the u 5. Stocks IS not
included in the estimate The object, il may
be repeated, vas solely w hew ho1r far thai
f,old alone The U. S.-Sn.s) " naked state
dividend off--and a1oul ny other aid
from The public re<onsceg would go TO sink
the debt of the Stat Al llrhermore, q
napg The funds ot Ill. uesides the Uni
ted States Stock, which m,sht be applied 4
this same purpose, and which are distinctly
exhibited in the statement of the Treasurer
expressly referred TO by the Governor, while at
the sa me time he lays them altogether out OF
the account--iH addition to large amount %
bonds and notes due 10 the State and OF taxes
uncollected, theIe is a sum OF Sl39,65o dol
lars cash--in the state Treasury. 70
ask plain question-is it not sufficiently
obvious that instead of the States owing, &C
cording to the Governors alIedged admission,
Sl5l ,447 more than it has funds 10 meet, u
il only had the smallest fraction OF what Is
due 10 il, without drawing single cent upon
its claim against the United States, or from
any source the whole debt would be Grpltttta
ced that without deriving any assistance what
ever from the vast amount Of demands in ia
vour Of the State, that the Treasury itself is
perfectly sotoeat For proof of this fact we
need only refer to the rreasurer's annual
statement Tor the present political year, TO
which we shall again take occasion to advert
presently.
BY adding the balance ofS ISL ,447 assumed
70 exist against the State,to the amount OF one
million, seUea hundred thousand dollars, with
The receipt of which the democratic party on
this occasion charge the federal state adminis
tration in 1912, the writers in the demo
cratic papers pretend to create tremen-
dous artificial amount of TWO MILLIONS OF
Dolars--with the whole waste and dissipa
ton or misappropriation of which they at
tempt to charge the responsibility OF the pre-
sent state administration.-The Common
wealth having been worth by estimation
81, 700 900 in 1879, and being reduced to
bankruptcy by failure for $780, 900 an en-
ormous difference as made against the state, to
use their own phrase, ofacttriy toSo nnttions
Of dollars
"
neryc TO make this round assertion, or even to
undertake to produce the impression, evident
y intended to be made upon the public mind
by this broad and unqualified species Of cdtcu-
lation. We say this the more distinctly, be
cause there is not single democrat that pre-
tends to shew any other specific portion Of The
public property withdrawn from The state trea-
sury, excepting that which went TO support
the measures of defence made necessary 70 be
employed in consequence of the war. It's
not pretended, that there has been any want
of economy in The use Of the public money
or any REGULATION among the public officers
or any unfortunate errors or injurious acci-
dents in the financial operations of the Trea-
snry The war expenses were rated at
S840000. But even this considerable sum
still leaves an enormous difference of more
than million
To pay the debt contracted for the expense
of the measures necessarily adopted for the
defence and security of the State against the
enemy during the war, it is well known to
every man in the community, that the Com
monwealth was obliged to sell its Bank Stock.
And part ofits u. S, Stock, as has already
been stated, was pledged for the payment of
the Bank Stock The nominal amount of
q S. Stock remaining the property of the
Commonwealth, rated by Gov, Brooks only
at its current sulue, Is $500, eco. Now the
difference between the nominal value of the
U. S. Stock belonging to the State in 1912,
stated as already mentioned at 100000,
and that of the same Stock still retained hy
the state, just gwen, i only Sl97,73l. This
is sum still far short Of the million coniured
up, or rather melted dozen by the imagination
of these ready reckoners.-At this point il is
also proper TO notice the art, not TO say auda !.
city, with which they make bold TO state the
amount Of u S. Stock IN 1919 at its nominal
catue Of $500, ,0O0-and at the same time un-
dertake 10 reduce the residue ID 1919 to lis
currest value of SS9S, 400 This is boping
kot and cold upon toe same subject. Or is Il
not rather entitled 10 be termed political de
cepiion Neither ought il 70 be omitted il
accounting for The actual reduction OF u. S
Stock belonging To the State TO remember
that considerable portion of it was pledged
for the payment of the same Bank Stock.
which the Commonwealth was under the ne
oe>sitv Of selling % discharge the debt created
blythe events Of the war, r,and meet the RESPONSE
bility devolsed upon-i by the nation. The
real truth is that the actual nominal amount of
U. S. Stock owned by the Commonwealth
when the Treasury was committed to the
tederalists in 1879, nearly half of il being
tkree per oeats,was only S57I,000, lis mar
ket value was but about S465. .0O0,-A con