The Portland daily press., 1863-01-09

statutes correspond in letter to the supreme
enactment of Congress, and the equally impe-
rious law of necessity.
The specie suspension has not been fol-
lowed in our State by any of those evil
results which so many feared and antici-
pated Indeed our banks were rarely if ever
in sounder condition than they are to-day. =
As compared with last year, their circulation
has indeed increased nearly two millions, but
the balances to their credit at the point OF re-
demption, have increased by nearly the same
sum, while their aggregate amount Of specie,
notwithstanding the great temptations to sell
presented by the high premium, has decreased
by only some forty thousand dollars. They
hold, moreover, nearly two millions of dollars
in government securities. Tue healthful and
prosperous condition of The community is al
so seen in the fact that deposits have increased
by more than million and IA half of dollars,
while individual Indebtedness to the banks has
decreased by still larger sum. The Savings
Banks of the State exhibit an aggregate in
crease in deposits of more than two hundred
and fifty thousand dollars, while the total
amount Of their deposits is well nigh two mil
lions. These facts, together with many 9TH
ers which will be presented in faithful detail in
the Report of the Bank Commissioners, are
highly gratifying and encouraging. They as
sure us that our financial institutions are con-
Quoted with prudence and honesty; and they
prove that Notwithstanding the many fears and
predictions TO the contrary, our State has rare
ly had year of sounder prosperity in business
affairs than the one which has just closed.
PNBLIC LANDs-MILITARY DEFENSEs-MILI-
TIA.
The Report of the Land Agent will present
to you the condition of that Department. The
proceeds in cash paid into the Treasury the
past year amount to S25,I1I2I.
The State a the tinna about
two million acres of land of which only about
one-fourth at the most can with any propriety
be called timber lands. The other three
fourths pass under the name of f"settling lands"
though considerable portion thereof is rocky,
sterile aud uninviting. The best portion of
the public lands, including those sections in
the counties of Penobscot and Aroostok, were,
with certain specified reservations, granted to
aid the construction OF the Aroostook rail-
road. by act of the Legislature of March Sth,
1861. The grant was made, however, by the
terms of the act, 10 take effect and be in force
after the city of Bangor shall have voted to
loan the credit of said city, in conformity with
the act of March 90, 1860, and not before"
On the 10Th of March last, the question of
loaning the city credit in aid of the enterprise
was submitted to the voters of Bangor accord
ing to the terms of the act referred to, and it
was decided adversely to the loan. As the act
NNoSSu W pS pl'tidtiht bl It's oHu ltiiuS. ou
the succeeding day, the lands Immediately re-
verted to the State, and are now in the same
condition as to ownership that they were be-
fore the Aroostook railroad bill was passe d.
1t is greatly to be hoped that the effort to
construct this important line of railroad is
not be abandoned The enterprise has not
yet had fair trial. for contemporaneous with
itsinception came our unhappy civil troubles,
deranging most seriously our channels of busi-
enterprises that involved time, labor and the
outlay of money. But while the disturbed
condition of the country has postponed the
effort to construct the railroad, it has devel-
oped and demonstrated a necessity for it in a
larger sense than was claimed when it secured
the favorable countenance of our State Gov
ernment. For it cannot be denied that the ex-
perience of the past year has shown that while
the road may be highly desirable and advan-
tageons TO Maine as an avenue of business, it
is absolutely essential as a great line of mill
tary defense. With the road finished to the
eastern line of the State, tapping the valley
of the ST. John, our Government could easily
and effectually prevent the hostile and danger
Gus movement of troops by the only nation
that possesses any special power to menace or
injure us. Distant be the day when we shall
be at open war with Great Britain and distant
it will be, if we have the safeguards which the
" - ei'iS' "ii" 'ho ha.hc VI oui
Posi.,o'i au'iio,iish US so urgently ID provide.
shaii esteem II privilege 10 cooperate with
you Ill all measures thai shal tena 10 oring
this very important subject to the attention of
the general Government.
In the last annual address Of my honorable
predecessor he presented with eloquence and
force the great national advantages to be de-
rived from the establishment OF naval and
military station at Portland, on scale proper
toned to the possible requirements of the fu-
ture. can add nothing to what was so well
said on that OCCASION and beg only to repeat
the suggestion, and to urge upon you the pro-
priety OF exerting whatever influence the
State may bring to bear, morally and materi-
ally. 10 accomplish an object so desirable. The
commanding position OF Portland, the expe-
~ '' "a '''e ~, az 60 VI 'ne Pae''
W Say iio'ncs VI .'ie P"Ssioe "a no' Prooao.e
-, 'ne .1.u,e eonspae " uise tnis
~ ., upo,i ou, o'a.e anu upui oui ha''on
WV 'ne nio's eot,,es ne. Iess
~ ..! -. $50 VIZ IN JPN
.nionS us, pm, " s'e p'esen. wal, iu re-
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,.r;.,,e ~ ,rodnc:d ,ar,, ,,a,'s,rni een,
;n,f ~ i. t.rnr
nayemant in ,he rigb, direot;o, for roor-
,on,ino o,,r forc.s ,y,,s n,a,,o h,, tho los, ar
isIatur,. In the nassara .f san Act IN enrol the
militia or the Sta,nS How far and how nar-
,.n,i, ,ba Sata;ls Of ,hat 40, bava haan 20
ant Won viii Iearn from The ranort Of tho a.
;u,ar, CanaraI How far hayopd tho nro,;s-
iions or ,hat sc, !, ,na,. ha oynoJ;ant 20 ~
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