Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1841-06-03
POLITICAL
STATE FINANCES,
Speech of MIR. Little.
f(oaciaded from our last.

Animal appropriations were made, and annual sat
dement's required, under the former policy of The
State in the days of it's economical administration
but Governor Fairfield drew his warrants or the
Treasury under appropriations made in 1889, IN ad-
vance for the contingencies and expenditures OF $40
WHY these warrants were outstanding from year TO
year to that amount, does not appear bat such was
ihe fact, az it appears not only by the report OF
the Treasurer Of 1899, but by the report of the
Adjutant General, dated Dec. 3lst, 1910. With
such Iooseness in the head Of the Government with
auch total disregard of all prudential consdera-
lions, this increase ofexpendlures, and accumua-
1ation of debt is not maer of surprise. Such are
some Of the facts in regard to the fiscal concerns of
the State in lS39--showlng not only the extrava-
gant appropriations which were made under the pros
ttuted credit policy, but the perfect looseness with
which the fiscal concerns were managed There
can be no justification of the executive in drawing
his warrants on the Treasury, advance of the ex-
penditure and greatly in advance of the ability of the
Treasury to meet them-and can conceive Of no
reason for it, unless the Governordr drew his warrants,
as he signed the State scrip, in blank. TO be filled
up and used by the dsbursing officer ut pleasure -
shall speak hereafter of the expenditures of the
land department, during that year. in another con-
nection. The facts already stated serve to show the
looseness and abuses that have crept into the admin
istration of affairs under the system that has Of late
prevailed.
shall endeayor, Mr. Chairman, 10 illustrate this
subject further by an examination of the fiscal oper
atoms of the past year. have already stated Abe
increase of the debt during the past year, according
to the Treasures report, to be s407 ,S66 Is. The
amount Of loans which the Treasurer was author
lied TO make in 1910 were as follows:
By resolve Of Jan. Goth, lS49, he was authorized TO
borrow at a rate of interest not exceeding 6 per
cent. PAYABLE in 20 years, $500 900
by resolve of March T. 1910, at rate OF
interest not exceeding per cent. paya-
bic in 10 years, $3.50 900
And by resolve of Jan. 81, 1885, payable
taken up, 1907. 800
1857, 300
The subsisting authority the Treasurer to obtain
aoans under these resolves, was modified by the re-
solve of Oct 2lst, le4 passed at the extra session.
as to empower the Treasurer to obtain loans un-
der resolve Of Jan. 3st lcS9, at 6 per cent, ~
years, $257 ,20O
Under resolve Of Jan. 29th. 1910, at 6
per cent, 90 years, 10000
Under resolve of March Z, 1870, a, G
per cent, Is years. $475, 900
$SI2,3O0
Why, Mr. Chairman, the amount authorized
10 be borrowed under the several resolves, modified
and changed by the resolve passed atthe extra
sion! Was this last resolve prospective, or inten-
tended to be in its effect and operation Or had
the Treasurer previously made the loans, regard ess
of the amount authorized under each Of the several
resolves, by which he was empowered, and it con-
sequenty became necessary to pass this resolve at
the extra session to iegalize his proceedings. The
exieencies of the Treasury had not changed, be-
tween the adjournment Of the Legislature in the
spring and the extra session i'll September, TO rem
der such a resolve necessary on that account II
copld only therefore have become necessary, be-
ause the scrip previously issued, did not conform
20 the resolves authorizing such issues scrip, and