The Portland daily press., 1865-01-06
4. PORTLAND. FRIDAY MORNING, JANUARY 8 1866

/
do this mas been judicially affirmed by the higl
est tribunal known to our laws,
4 The wisdom OF this policy I do not propos
to discuss. The consequence is to increas
the burdens OF State taxation upon the visibl
liked property in the States, by inviting yer
large investments in government securities
Coupled with these Considerations, arises an
other, growing out of the exercise of the pow
er by Congress, granting charters to the Ma
u tlonal banks and the imposition of such take
upon existing State institutions as must com
i pei them to throw aside their State charter
! and transform themselves into National banks
! or to surrender them and quit the field. On
\ or the other OF these alternatives awaits thl
banks of Maine.
j The surrender of each State charter in
wolves. a loss to the treasury of tax which
| from time immemorial has been paid by every
! bank created by the laws OF the State. In the
! outset, as soon as the system of National bank.
/ was inaugurated, the Legislature of this State
In the spirit OF fairness and justice, remitted
one half OF the bank tax, and authorized the
surrender OF the charter ofany bank by vote
OF a majority OF its stockholders. The loss tc
this State OF revenue derived from this source
] by the action of Congress on the basis of the
banking capital existing two years since, will
not be less than $4,000 per annum.
The case stands thus: while the States,
counties, cities and towns, in their efforts to
respond to the demands of the nation, have
incurred heavy debts, to meet which increased
taxation is demanded Congress devising means
to the same end, has impaired their ability to
provide for even their current, usual expendi-
lures by the withdrawal on the one hand of a
large portion of capital from liability to con-
tribute to it, and on the other by the absolute
annlhuation OF long established sources Of rev.
enue. ,.., ~ -,
At the late session OF Congress. resolution
was presented to the House of Representa-
tives by gentleman representing this State
In part upon the floor of that body, asking for
the assumption by the United States OF the
debts Of States, counties, cities and towns, in
Cured in aid of the general government in
the prosecution of the war. This was en-
forced by a speech of eminent ability and re-
search, presenting precedents for the measure
IN the uniform past action of the government
at the same time demonstrating its justice by
a great variety of argGment., M ~
These debts have been Incurred for the ma
tional defence, upon which ground alone just
ice demands their assumption by the United
States, and still more loudly is it called for by
the TACT that sources of revenue In the States
have been dried up by Congressional action
Should you concur in this view of the subject,
some appropriate legislative expression is re-
commended. ~ ss.s,,.. .--. ,.s ~
~ 81 ,t,fs 5i.t.f,.,a BANKS. .r D.
The condition OF affairs, arising from the
surrender OF the charters of SO many of our
banks. either retiring altogether from business
or changing to national institutions, is anoma-
lous. s,,fel-e4.,.' H~
That some additional legislation may be
needed for further security to the public is
probable. 1t Is extremely desirable that this
financial transition shall be made without pro-
ducing a shock disturbing the course of COM
mercial transactions. The subject of banking,
so intimately interviewer with all the business
OF our people, is one requiring to be treated
with the most careful consideration. The peo-
pie ofthe State and the public in general, have
the strongest guarantee in the character of the
managers OF these Institutions, that all their
obligations will be faithfully and promptly
discharged.
adf ~ ss ENLISTMENTS, ETC.
During the year 1864 there have been sent
from this State ID 623 men, OF whom 1880
were enlisted under the call of October 1868.
Besides these, 3525 veteran soldiers, whose
term of enlistment in the organizations which
entered the service in the beginning of the
war, was about expiring, have re-enlisted.
Enlistments in the Navy for the same period
number 1916. The aggregate OF these is 49,
994 men whom Maine has in the year 1884,
contributed to the service of the country
equal to twenty regiments. All these have
received -tiae bounty of the State. The same
proportional contribution OF soldiers from all
the loyal States would constitute q force of
nearly three-fourths of million. Allowances
of credits for naval enlistments anterior to the
3675. IN. rs il
During the same period the Sd, 4th, 5th, 9th,
7th, 18th, 18th and 18th regiments have been
nf 10 torn nf THAR
original enlstments having expired, and the
organizations disbanded. The number of men
actually retiring from service by these mus
ters- out, is about 1000. The residue of these
organizations who had re enlisted, or whose
original terms of enlistment had not expired,
have been transferred to other regiments.
At the present time there is probably small
deficiency in the quota Of this State upon the
call OF July 18th, 1854, for 100000 men, but
enlistments are constantly progressing and
doubt not in sufficient numbers very soon to
furnish the complement Of the State. The
President of the United States has made
another demand for 100000 men, to be enforc-
ed by draft after the fifteenth of February
next. The military position of the country
is such as to afford encouragement that this
requisition will be met with alacrity. The
staggering blows recently dealt upon the
military power of the rebels in the west and
south, furnish cheerful augury that the end
is approaching and the country will not will
lingly lose the advantages gained by with
holding any needful support ga ca q Fa4
Until the last calls, Maine has met every de-
mand upon her for troops, not by construc-
tive credits, but by the bone and sinew Of her
people. She will continue to do so to the
end. l am confident that her citizens will
have no cause to blush at a comparison of her
efforts with those of her sisters to sustain the
government of our fathers. Authentic re-
turns establish the fact that more than 81 900
of her sons have been in the military and ma
val service OF the nation since the commence
ment of the war-a number very nearly equal
to one tenth of the whole population of the
State, embracing both sexes and all ages. e
The report OF the Adjutant General, fur
nishing the history Of our soldiers the past
year in full detail wild make an honorable
record for our State 1t would be invidious
for your chief magistrate in communication
to the Legislature to designate any single in
stances of heroic sacrifices where there have
been so many. The disastrous campaign up
on the Red river, the murderous march from
the Rapidan to Petersburg almost a continu-
Gus battle-and the brilliant campaign In the
Shenandoah, all attest the bravery and heroism
of our soldiers. Maine mourns the loss of
thousands of hersons on these various fields
Of conflict, all of whom have laid down their
lives for their country. The families and
friends Of the fallen receive the sympathy of
every patriotic heart. The. noblest tribute
that can be paid to their memories, is the
steadfast maintenance OF the cause, in sup
port Of which they have pefished. sqa7
1BOUNTIES, II. .f -, a. ~
Intimately connected with and affecting the
financial condition of the State, the subject Of
paying bounties is deserving attention. This
system, inaugurated at tho outset of the war,
providing at first for the payment of two
months wages to privates and non-commis-
stoned officers as an inducement to volunteer
ing, has overleaped the prudent limits then
established aud caus ed the creation of very
large State and municipal debt. The magni-
tude of the present bounty has been reached
in consequence Of the competition Of the va
| rious cities and towns, which in their anxiety
| to fill their quotas and escape draft, stitnu.
lated overbidding upon each other. In addi
| tion to the evil of an accumulating municipal
| debt there arose another growing out of the
permission at one time to enlist men without
II