Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1863-01-16

have troops In tne Heius tSp0Viaity iu c~Sss
large numbers, the State will have duties
to discharge in regard to them, on the
score of humanity and Of that watchfui
interest and solicitude which Maine viii
always cherish for her sous. The health
and comfort Of the troops can be greatly
promoted by this care on the part OF the
State, and to enable it to be exercised
with promptness and efficiency the means
must be supplied by an appropriation.
which am sure you will not hesitate to
make.
l cannot leave the subject Of our State
finances without adverting to the necessity
and enjoining upon you the duty Of rigid
care in all your appropriations. Public
economy. always expedient, has become
now a sacred obligation upon us all. l
ask you, therefore, to curtail expenditure
in every practicable way; to infuse .
spirit of thrift and ripid accountability in
all the departments of our Government.
and to do everything that enlightened ex-
perieuce may suggest to ease the burdens
of the people aud advance the general
prosperity. In all measures having these
great objects in view it will be no less my
pleasure than my highest public duty %
cooperate.
The Banks Of tho State
The general suspension of specie pay
ments in the country more than year
ago included of necessity the banking IN
stituton in our own State, aud such sus-
pension was temporarily legalized BY the
act of the Legislature approved February
10th. 1862. The operation of the acs
expires by express limitation on the 10th
of this month, and it may be necessary
for you to take some further action in
order to avoid complications and troubles
that might ar: Sc from any attempt to en-
force the provisions of the forty seventh
chapter of the Revised Statutes. which
impose certain Ieuaties upon banking
corporations far refusing to redeem their
bills, checks, aud drafts in specie. The
question is of course affected. if not rad
ically changed, by the law Of Congress
making Treasury notes legal tender for
aebts-applying, OF course, to debts OF
banks as we'll as debts of indieidaal-
but it may at the same time be prudent.
so leng as actual payment of specie Is
not practicable to make our own statutes
correspond ia letter to the supreme enact
ment of Congress and the equally imper-
ious 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 anticip-
ated. Indeed, our banks were rarely If
ever in a sounder condition than they are
to-day as compared with last year, their
circulation has indeed Increased two mill
ions, but the balances to their credit at
the point of redemption have increased
by nearly the same sum. while their ag-
gregate amount ofspecie, Notwithstanding
the great temptation 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. The healthful
and prosperous condition of the commun-
i.y is also seen in the fact the deposits
have increased by more than million and
a half of dollars, while Individual in-
debtedness to the banks has decrease by
a still larger sum. The Savings bank OF
the State exhibit an aggregate increase in
deposits or more than two hundred and
Glty thousand dollars, while the total
amount of their deposits is well nigh two
mi lions. These facts, together with many
others which be presented in faithful dc,
tail in the Report of the Bank Comms.
sioners, are highly gratifying and encour-
aging. They assure US that our hnan-
ciaI institutions are conducted with pru-
dence and honesty and they prove that
notwithstanding the many fears aud pre-
dictions to the contrary, our State has
rarely had year of sounder prosperity
in business atIlirs than the one which has
just closed.
Public Lands---Military Defences--Militia'
The Report Of the Land Agent will
present to you the condition of the De-
partment. The proceeds in cash paid
into the Treasury the past year amount
to S25,111,21.
The State owns at the present time
about two million acres of land, OF which
only about one-fourth at the most, can
with any propriety be called timber land.
The other three-fourths pass under the
name Of" settling lands" though con-
siderable portion thereof is rocky. sterile
uniaviting, The bes. portion OF tho
public lands, incluling those sections in
the counties OF Penolscot and Aroostook.
were with certain specified reservations,
granted to aid the construction oil the
Aroostook Railroad, by act of the Leg
isature of March Sih 1861. The grant
was made, however; by the terms Of the
act, to "talle 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 20, 1860, and not
before"
On the 10Th OF March last the ques-
ton Of loanins the city credit in aid OF
the enterprise was submitted to the voters
of Bangor, according to the terms of the
act referred to, and it was decided ad-
versely to the loan. AS the act ceased
to be operative BY its own terms, on the
succeeding day. the lands immediately
reverted to the State, and are now in the
same condition as to ownership that they
were before the Aroostook Railroad hill
was passed.
1t is greatly to be hoped that tho cf-
feet to construct this important line of
Railroad will not be permanently aband-