Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1861-06-27
THE STATE LOAN.

The proposals of the State Treasurer for a
loan of five hundred thousand dollars gave
considerable uneaslness TO some persons who
did not give due weight to the reserved right
Ito reject any or all proposals." Such could
not conceive why so large b sum is necessary,
and were perhaps suspicious that the large
discretion left by the act OF the State author
tiles was to be very literally used, perhaps
too literally. In anticipation, too, of so large
debt, some OF the POLITICIANS, who would
be glad TO tind any occasion for a quarrel
with the Republicans, were beginning TO
whisper that this was the fruit, noe of a nee
essary war to crush out rebellion and pre-
serve the Government and the country. but
rather of Republican misrule and extraya-
gance. Now we have bad the opportunity
of learning the details of this matter and OBJ
serving the manner in which it has been and is
TO be managed and, without anticipating
the official report which will of course be
made on the proper OCCASION, we viii say
that no more of the loan was accepted than
will be required for the nd management Of the
Treasury. The sum accepted was 100000
and all at rates from par to halt of one per
cent premium. And this sum Is by no means
an oddalOn TO the debt Of the State but on
the other hand a considerable portion Of il
consisted IN bonds issued in exchange for
outstanding Indebtedness Of the sum A.
cepted. only about 100000 was from abroad
and the remaining $4,000 was taken il,
ermont. OF this sum over $4,000 was Ia
ken l. Montpelier, being we think. the lar
gest sum taken in any town in Vermont
Ot the banks, the Bank Of Rutland l,d. TAX
ing $4,000. As Treasurer Page is the
President Of this Bank, this fact will suffi-
GENTLY indicate his confidence in the safety
Of the investment
Inc treasury, as everybody knows came
INTO Mr.. Pages hands in the utmost confu
SION he has reorganized il entirely snew.and
thoroughly systematlzed the keeping OF all
accounts OF receipts and expenditures of tax
Is, notes and bonds. 50 as to show at A glance
all the transactions Of the Treasury depart-
m' MT and its condition dr. any time. The
OLD arrearages Oftaxes have been nut in col
lection and are already near to = comDIet.
settlement, while the payment. Of taxes d,a
tor the present year are being made with IN
usual promptitude. It Is very true that the
Treasury was badly involved when lfr. Pace
look possession. and It l. also true thai the !
war mas called tor extraordinary OK
Pendtures; but il midst be remembered
thar tie latter come into the final settlement
by the General Government Of th. expenses .
Of the war, and will probably pass into the
form ultimately Of national debt.
And now a TO an additional loan which
may be asked Tor by the State ami Jy all
means ief the p>ople fhe STATE TAXI If and
take Il ar par. They cannot have 4 safer in I
vestmenr. tor II will be tbeir arm GeJt and /.
they will BE- sure TO provide payment Of rotb I
interest and principal And there i a
greater reason still WIKI our own peorla .
should take the entire ban a. tbev are n .
pay 10th interest and rincIpal in any event .
they viii pay it tn MeunI e1res aad ,2re<erre The
caDaqi IN, the .>'Gte il they TAKE. the loan
themselves whereas. II they suffer other.
TO take H. both lnter->' aai arinc pal viii o.
cut ~ nte State Init L States stocks NAV
doubtless be had at SO rents on the dollar. f.
and this is a tempting Investment but we /.
nave no doubt that Il viii BE- altogether bet /
ter Tor Vermont in the long run 70 have her
people invest IN srmoh t stock AZ par If /
there Is a surplus Devond the necessities of !
the State, II will be- wIsk 10 lock outside for
solid nvestments- IFictwqE.