The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-08-06

thousand dollars on the 3Oth of Sept 1889; an,
the whole amount of expenditures for the fsca
year, ending Sept. 80th 1910, will be ninety-on
thousand nine hundred and eighty-sx dollars an,
sixty cents. In this same report the State is credit
ed with the sum of ninety thousand, seven hundred
and twenty four dollars and ninety-two cents. Blu
in this amount is included an amount of sever
thousand eight hundred and eghiy-six dollars ant
eighty-six cents, which for reasons before stated
belongs to the school fund.- also two other items fol
money loaned, amounting in the aggregate to fv,
thousand six hundred and eighty dollars; and also
n third item Of nine thousand five hundred and
thrty-nine dollars and lhirtyhree cents, as deficit
of revenue to balance the amount. The aggregate
amount of these items is twcnty-hree thousand
one hundred and five dollars and nineteen cents
As this amount constitutes no portion of the cur
rent revenue of the State, but is rather debt
against it, il ought to be deducted from the amount
of credit, which being done, there will remain a
balance of sixty-eight thousand, eight hundred and
eighty dollars and eighty cents for the
ending Sept. Both, 1910. If this sum be deducted
from the annual expenditures, we shall have the
following result, viz.
Whole amount of annual expenditures, SOL ,9S6, GO
DO. do. of annual revenue, GS,SSl, Al
Excess Of Expenditures orer rerenue, 1923, los, 10
Thus it appears that the excess of the cxpondi-
lures of the State for the fiscal year, ending on the
3Olh of Sept. 1910, over the revenue for the same
time, amounts TO twenty three thousand, one hun
dred and five dollars and nineteen cents; and if to
this sum be added the excess of expenditures over
revenue for the fiscal year ending Sept 30th 1889,
amounting to twenty thousand, eight hundred and
twen,y-one dollars and two cents, the whole
amount of excess of expenditures over revenue
for the two years, will be forty three thousand,
nine hundred and twenty.six dollars and twenty
one cents.
| We will next proceed TO examine the subject of
the State debt During the session of the LegisIa-
House Of Representatives, for the appointment Of
a committee TO ascertain and report the amount OF
the State debit this resolution was passed, and n
committee was appointed, of which the Hon, S. S,
Brown, of ST. Abans, was Chairman. This COM
mlee through its chairman subsequently made IL
report, stating The amount of said debt, which re-
port, we regret to say does not appear on the Jour
mails of the House for that year. One of the under
signed then a member of the House, rccolIecs
thu, it did not vary essentially, if any, from one
hundred and rorty-,wo thousand dollars. If to this
sum be added the excess Of expenditures over or
binary revenue for the two fiscal yeers, ending on
the 3Oh Of Sept 1889, ard 3Oih September 1910,
amounting in the aggregate, Gas appears from the
iorcgoing) TO forty-lhree thousand, nine hundred,
amount of the State debt exclusive of monies that
might have been loaned in the inteInin) on the
Both of Sept 1910, would be one hundred eighty
five thousand, nine hundred tweniy-six dollars and
tweniy-one cents. As the fiscal year Of lSil, has
not yet expired, we have no certain data, bywhch
to ascertain the excess of expenditures over curren,
revenue for this year, but know of no reason why
i, should not be equal to what it was in 1910. We
will however assume !, to be twenty thousand dol
lars which added to the last sum, will be two
hundred FIVE thousand, nine hundred twenty-sx
State debt on the 2Oh cf Sept. 1871, exclusive Of
the monies loaned by the State, since Mr. Btown's
report in 1889. We are aware, however, that the
Treasurer made Il report 10 the House of Repre-
scntniives, in obedience to call from the same, on
the 18th of Oct. 1889, in which he states the a
mount Of the State debt at one hundred thiry-iOur
thousand, eighty eight dollars and lhiry-nlne cents.
why there should have been this discrepancy be-
tween the reports Of the Treasurer and Committee,
we know not. We believe, however, the amount
of money loaned by the State since those reports
were made, will more than counterbalance the diI-
ference between them, and that consequently, the
real amount of the State debt, on the Both of Sept
1871, will exceed two hundred thousand dollars
The next enquiry is, in what way, shall this
debt be disposed of Will the (recmen of Yer
mont permit it to go on increasing annually, in
amount and finally settle down under permanent
STATE debt, with system of taxation, &C., 10 pay
the interest, and also the salaries Of fund commits
sioners, to take care Of it, which would ere long
reduce them, as in England, to become mere hew-
ers of rood and drduers of traier, TO support .
purse proud Aristocracy, Of fund holders, bank.
ers, &c. &c., or will they adopt the requisite meas
ures 10 cancel it? We believe they will prefer The
latter alternative, and will therefore proceed tt
suggest such methods for paylnsl,, as present them
selves TO our minds and
LIST. One method of cancelng it would he by di
rect taxation. To pay it by this method would re
quire the doubling the present State tax for abon
six years. I'd. Another method of paying thi
debt would be 10 appropriate the School fund 70
that purpose the amount Of this fund on the 3Oi
Of Sept ls4O-as appears by the auditors repor
exclusive Of interest due from the State and from
: individuals, was one hundred ,wenty-six THOUSAND
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