Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1863-01-16
PARIS. NE, FRIDAY, JANUARY I6 1868

March and II the current funds in the
IIwasury arr insafIcicnt therefor. that he
be authorized 20 negotiate loan for the
PurPose- Not the least advantage 20 the
State an this arrangement i the saving Of
interest on al payments made with current
funds. and the gam q the premium BY ne
gotiatinc 4 regular loan when extra funds
become necessary.
The total receipts into the Treasury from
al sources Tor thc year 1862. amounted %
s659.sl2,o3, and the expenditures were
cbij. .~@3. II. leaving a balance % -9t
S33.5f IN the Treasury on the first % the
present month. full details under thcsS
beads viii BE- found in the Trcasurcr's Re-
port. The State tax was increased bv the
last Legislature % SGI3.O5I.fI. in view 81
the extraordinary expenditures cniailcd by
the times As compared with large ma
lority of the states ia the Union. our tax j.
stsll verg moderate one. 40 indeed % the
total tax paid by our own people. 10 consti-
tuies much smaller proportion than IS
generally supposed. IL D. now al the rate
Of two and half mills % the dollar. where
A. the tax actually assessed for all purposes
On The various towns and cities ranges from
> o. - mIlls--vcry few towns being under
The hrst named t-urc. lt wall thus be- seen
that the burdens imposed by the S,ate gov
ernment are in no sense oppressive. In
deed. considering the duties - the STATE
government. IT, lar-e and bene6ccnt Geld
Of usefulness in IT, Executive. Judicial and
legislative functions. il NAV well be Affirm
81 that no other form of administration was
ever maintained AZ once so effective and 80
cheap.
| have already ailuded % the fact that
within the past year The sum of $4,000 Of
the State debt was paid Daring the pres
eut year hfty thousand dollars more Will
mature. and 1 earnestly recommend that u
b. paid. instead of being renewed. a. has
too frequently been our custom in the past.
The policy OF Liquidation. IN mv Judgment.
j. the true. safe. wisely economical one for
the State % adopt. Whatever may bc the
theory or the truth in regard % the adyan-
a-cs Of a National debt. DO not think
that a State debt should remain unpaid a
DAY longer than the time Whca tie pcopic
can discharge Il without specially OF undulv
burteuIug themselves with taxation. Oar
debt. other than that contracted oa account
ot the var. al falls due between this AMI
thc close Of the year lss7. ia annual SUMS
'Yarying IN amount from $4,000 o. SsI.-
90. averaging precisely Sif.OOO per year.
10 wlll bc evidently the part Of wisdom %
pay these sums - they mature. The annu-
al payment wiu be casv. and aggregate re-
lief viii bc great The whole of the var
loan thus far negotiated (S>po.u00) ma
lures in ISL. At present.. therefore. We
cannot do anything directly toward It, paw
nirni. but wl,e provision may be made
ior meeting larsc portion IL 10 when %
falls due. by making a sinking fund q.
whatever sum NAV be reimbursed o. us -
the Federal Governments on account of var
expenditure. To the Sinking fund. in IT.
scii a stimuiant o. economy. might BE- pro-
htaniy added any surplus which > rigid care
On the administration of our affairs may
leave at the close of each wear. Keeping
the policy Of liquidation steadily in view.
and providing for it hy such means as vour
wisdom NAV suggest. We shall not only dr-
crease the state expenditure with certain
o. and rapidiiy, bat shall maintain our
>tete credit % so cuviahle a condition. that
~ shall find 20 available whenever an u~.
ior--ccn cxigrncv NAV require u. o. use it.
in authorizing thc Treasurer % negoti-
atc such loans a. NAV De necessary. ! would
suggest whether it bc not expcdirut % fx
The rate of interest al Eve pcr cent. In the
present surplus of money seeking invest.
mrnt. State stocks of such high chararteras
ours are regarded A. specially desirable
dp not doubt thar a fvr pr cent. stock
WIZ De taken AZ par. and f n--otiltcd. AZ
VII o. cSrrdirnt. f.r ri bong period. fti-
rate ulI De- more aigaufartous o. us than
sx pr cent. stock at thc highest prcni-
um wei could hope to rraiize. l submit the
matter o. your most attentive con-ilrrl-
tisn
lhc appropriation ior military purpose
thc past year VAS not su.Heirnt o. n.cct tlr
legitimate drafts upon it--and there b.
hsuce small drGcit which it VIII dcfolve
on you o. supply. - long al We have
troops in TIRE hrll. especially in such iargc
uumbcrs. thc state wiIl have duties io dis
charge iu rarl o. them. ou fh- SCORE of
haullniff arl nf fIlt ulf.li.i interest aud
s1lafrde which Maine will aiuars cherish
Or hrr SONS. The heaifh and comfort OF
thc troops cau be greatly promoted by thi.
Gar. Du tle rarr of fie state. and i1 enable
Do f1 De- czerri-r1 with pr0mntuess and
elIreurt the means must Do surrl-rd hv
uu appropriation. which ] ana sure you vii
lHt hesitate to make.
. cannot ies,r d. saiisc, ~ our STATE c.
rln..- ufloat aiserir- f1 t.- ucer.-itt.
anl ,r'..nins ufun ton tar dutf oi ii.ii
care n aI sour aFnropuafiHns. faahr
economy. a'sats cNH.llruf. L1s lrrsme
uar n .arrcl Obligation urou rs al I a.k
son. thrretore. fo clraI cgpenIiffrr OBJ
rtry pra.tieahlc way to iuf4-e spirit of
tarIf tnI rf-ll a.rounflhIhfy ia al tle BE-.
rltturrfs uf Ulr t.trrau u.nf. arl tl du
everything chat rnii- i-lfrnei experience may
saze..t to ease thr burden. ~ the peori.
anI advance Gle general prosper.ty Inau
measure. having tr.e great objects m
tira. Do aI.l o. no ie.. my r'.a.ar, tI.an mt
highest Fuh.ir dHfy to cl-arcrafr.
IuE HkSks 90 rnE srtrE.
The general sasptusion Of specie paw
mfnts iu tte eountry more than rear AGO.
in.laiei of Necessity thc banking iusfitu-
i.u. .n our own state. and 81. % su.rren.inn
uas temporarily leealizri hy che act of tic
lr-is.atare. approved February iOlb. l-52.
lhe operation of o. art expires hy express
Ealfatl.a on the fHl'fof tlis month. and
DO Hsy D. necessary iar you to take somc
further acton il order OBJ AVOID tLe son,-
pIcations and trlabies that might arise
frlm any attempt to eu.1rre thc provision.