Worcester daily spy., 1860-02-01
WEDNESDAY, FEBRUARY 1, 1890.
TuE STATE FINANCES.


contains full and complete exhibit of the f.
nancial interests of the Commonwealth, to-
gether with a minute and particular statement
of the receipts and expenditures for the past
year, the results of which are given in the ta-
bles below. The funds of the Commonwealth
are believed to be well and safely invested.
The Western Railroad stock has uniformly
paid semi annual dividend of four per cent,
and the excellent management of the corpora
tion and the increasing business OF the road,
are good guaranty that it will continue to do
so in the future. Without anticipating any
depreciation in its present market value, the
Auditor suggests that it may be well for the
Commonwealth to dispose of a portion of this
class of property, and to invest its rapidly in
creasing funds in securities which no possible
contingency can imperil
The extraordinary expenses of 1859 were
consequent mainly on the revision of the stat
utes, the cost of which has been accommodating
for period of four or five years 1t is sug-
gested whether principle of legislation may
not be adopted which would less frequently
burden the state with so large an expenditure
for such a service. The auditor recommends
that, in the future, no alteration of section or
chapter be permitted, unless the entire chapter
in which such alteration is made be re-enacted
in new draft, and the entire old chapter be
repealed. This would obviate the complication
which is otherwise certain to create anecessity
for revision and consolidation at least once in
twenty or twenty-five years.
In order to derive the largest Up Up; n. e. 49,,
the present pauper systy = 49, ..... :. :.
uggested-1stsam
sesssf: That the sick and disabled
.rJoa5ssrs be removed to Rainsford Island Hos
pipita to the full capacity of that institutions
I'd. That the insane state paupers be removed
to one of the almshouses, to be devoted ex-
clusively to their care Sd. That the children
of paupers, SO far as practicable, be removed
to another of the almshouses reserved entirely
for their accommodation, and that they be re-
qured to attend school and perform such labor
as is suited to their capacity; and 4th. That
all the rest of the paupers be sent to the re-
manning almshouse and required to perform
such labor as may be remunerative and lessen
the burden of these institutions to the state.
B y this method, it is thought that much may
be saved, in this department, to the treasury
of the commonwealth.
With regard to criminal costs, it is thought
nearly OF quite one half may be saved, if they
should be wholly paid by the towns, cities,
and counties in which they accrue, and the
Auditor fully concurs with the recommenda-
tons of His EXcellency upon the subject. The
report recommends the discontinuance OF the
appropriation for aid in the suppression of
counterfeiting, as out of all proportion to the
services rendered. In this connection it is
thought fit subject of inquiry whether uni
form style for each denomination of bank notes
might not be better safeguard against coun-
terfeits than any now in operation-especially
with banks organized under the general bank
ing law.
The report recommends that the payment
of expenses attending coroner's inquests
should be transferred from the State Treasury
to the treasures of the cities or towns in which
such inquests are held. This is to obviate the
inconvenience and trouble to which persons
attending inquests are now subjected in OBJ
tanning their fees. 1t is also suggested that
the expenses accruing in connection with the
arrest of fugitiyes from justice under execu-
tive warrants shall be transferred to the
treasures of cities and towns, in which the
crimes of such fugitives are committed.
1t is not probable that less than the customa-
ry sum will be required for the support of the
reform school at Westboro, and the nautical
branch OF that school. But it is hoped that
the excessive expenditure will be in some
measure restored to the Commonwealth, in the
moral, intellectual and physical improvement
of the boys who may be the recipients of their
advantages. The state prison at Charlestown
is also in fair way to become source of
revenue to the Commonwealth.
In the expenditures OF the military depart
ment of the government, it would seem that
no injustice could be done to cities and towns
where companies are organized, if they were
required to pay the rents of their respective
armories-which would save to the Common
wealth about 10000 per annum.
Three additional banks were established in
SO, under the general banking laval in Bos-
ton. The whole amount of securities on deposits
in these banks, Dec. 81, 1859, was s442, ,9OO
emitting the banks depositing the same to an
aggregate circulation of $402043. AS secur-
ity for circulating notes the auditor is authoriz
ed to receive any of the public stocks issued
by the cities or towns Of this Commonwealth,
or either of the New England states or New
York, or the United States,-and that the
stocks thus received on deposit shall be made
equal TO Massachusetts six per cent stock
This provision tends to bring into this depart
ment securities not regarded in the market as
first class stocks. For example, 100000 of
per cent stock is required to be equal to $780, 900
of per cent stock, when, perhaps, the per
cent. stock may be more available for an ext
gency, and more valuable, dollar for dollar,
that the 6 per cent. For this and other rea-
sons it is suggested that this restriction should
be repealed.
The work upon the New Plymouth Records
has been successfully prosecuted during the
past year, and its continuance will certainly
be creditable to the Commonwealth
RECEIPTS AND PAYMENTS
The Receipts into the Treasury during the year 1852
- ''
on ,lSaS account Of ordinary Revenue, as per de,
tailed statement, sl043, ,566 81
On account Of sundry Funds as
per detailed statement, GOa,73a So
Eastern Railroad Scrip sold aO0Wo 01
Sale of house on Hancock street i2000 %
Interest ON Railroad Scrip 5l750 90
lelhpotullty Loans for money bor-
rowed ~ antieipation Of revenue
and sales OF scrip and Western
Railroad Stock Sinking Fund Sc.