The Union and eastern journal. [volume] (Biddeford [Me.]) 1854-1858, 1855-01-19

. bank dividends. 800 90
miscellaneous sources, r' 9063 90
Cash on hand January ], 1855, 't.'f' 95,5Ot II
Amounting in all to the sum Of s4ei,925 40
The disbursements for tho same period mount.
ny Eo 1859 M1ssowing balance on hand
To this balance should be charged the following
amounts for which the Treasury Is subject TO i'm.
mediate call foe outstanding appropriations, or
which are held 10 trust for specific purposes, viz:
Warrants drawn and unpaid, SI0.5s3 05
Balance Of school funds here,oGotc
appropriated but not yet called for, 1904 90
Balance due on roll Of accounts, AIS 05
Installment OF bank tar paid in 0cto.
Der, and constituting part Of annual
school fund for 1855, .aa 29,4CS "a
Interest due and uncalled for, 1890 W
County taxes on unlncoporaiedsnds
SOLICITED and held IN inst for the
several counties, H 1896 CO
In all s7l,44S 48 leaving s3G65s 95 to be
applied - the accuing necessities Of the govern.
rnent may require. '''.
Owing TO the severe strngency in the money
market the past season, aggravated by a drought,
intense and pro.rac,ed, particularly in the Eastern
Office, on account Of debts due to that depart.
mcnt, have been less than was anticipated.
The disbursements Of The past year, for what
may be designated extraordinary expenditures,
were $4,000 for the new wing Of the Insane
Hospital, and 1000 on account Of the public
debt, ten thousand Of which had maiLred, snd
twenty thousand paid in anticipation Of maturity,
on tho 7th Of March, 1855.
down Ut s2o5,Sis Of for the year, and there is no
reason TO expect that they win b. less in tho
future. or this amount, however, II should lie
borne In mind that 20 much Of the expenditure %
paid out Tor the annual school fund, which Is de.
rived from the Bank tax, land being last year
s4Sei3 72) imposes no burden upon The body u
The tax payen-, so that the whole Of the ordinary
expenses chargeable 10 the rescnue derived from
taxes and other sources Is but sa46,974 -.
The amount Of the annual school fund for 1854,
composed OF Bank tax and interest on the perma.
nent school fund, was s55,S60 50, and will be
larger next year, owing TO the increase Of banking
capital. -. : .s'7tf.
The most important consideration connected
with the finances Of the State, and which will dc.
ture, Is the provision which must be made Tor
paying that portion Of the public debt which ma.
lures March 2, 1855. Al the commencement Of
the past fiscal year, the amount Of that loan was
$4,000, Of which has been paid 900, leaving
$4,000 TO be provided foV on that account, and
600 additional TO pay one bond Tor thai amount.
which maiurcd In September, 1850, buthas not
Iyct oeeh p!escnteu ", payment Ahe chsh On
down a, $780, 900, leaving balance Of s2lsOOo
There u also held by the State one hundred
shares OF the capital stock In the Augusta Bank,
of the par value Of eighty dollars share, which
can probably be converted at any time. The div.
dends on that stock have very much more than
paid the interest on the par value Of the stock,
and Il Il questionable whether the Treasury would
/ be the gamer by selling Il al this time.
kac>... h. A.. \
Office have been very light, aud there is nothing
in that quarter TO be relied on as an immediate ne.
source TO pay the debt.
The only mode then leit to meet this liability 10
q new loan. Whether this shall be temporary or
permanent Is for the Legislature to determine.
A temporary loan can DO obtained only from the
banks, and Ills To DO doubted whether the Legs.
aiurc would, except In case Of actual necessity,
absorb portion Of that capital which Is already
insufficient TO meet the necessities Of the business
community. Besides this consideration, Il is not
apparent where the funds are TO be obtained out
OF the ordinary revenues or resources, 10 refund
temporary loan in any reasonable time. for any
probable surplus which may be In the Treasury ut
the end Of the coming year, will be needed early
in the following year 10 pay of the loan then fall.
ing due. A. Dis Vi.
make this requisiton upon the banks OF the State,
but the expediency VI Its exercise Is apothsr
affair, TO be Determined by itself upon due con.
sderution OF attending circumstances.
Fortunately the creditof Maine stands so high
that the undersigned does not entertain the slight.
est doubt that loan can be effected to the extent
Of the necessities Of the Treasury, at rate Of in.
iercst not exceeding six per cent in season TO pay
of the debt Of March z, 1855
The estimated receipts for the coming year, In.
Guiding cash on hand; nrc $40, l66 0S, and the
neutrality-suspicious. S6i9,742 81.
The ordinary State tax cannot DO dispensed with
the coming year. @