Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1865-01-13
aa,istellaWtuns.
Governors Address.
Gentlemen Of The Senate,
and H1nse Of RenreseRtatire


Gentlemen Of Tie Senate,
and Hoase Of Representatives.:
I congratulate you upon the ausplcous
circumstances under which you have as-
sembled 10 inaugurate anew the govern
mcnt OF the State. True, indeed, peace
long hoped for has not yet returned to
rejoice the hearts OF all cur e0untrymen,
and the carnage Of battle still & Is the
land with anguish; yet the year which
has closed upon Us has been marked by
signal success aud memorable achieve
meut, and the opening year dawns rad'-
ant with hopeful promise.
To God, IN His infinite mercy, let Us
render the homage of our tAauAs iJs His
goodness to this nation.
FINANCES.
TIE fuansjal eabditi5n Of the STATE,
and the provision to be made Tor meeting
future calls upon the Treasury, vii de-
mand eyoni any other sul jet your u.0st
serious consideration.
The expenditures ot the LIST
year have been for al er-
binary civil purposes iu-
cudiug payment Of pubic
&c and iltere,t thereon, S5l5,OlO &c
F,r reiunding cities ahd towus
money advanced in lsts3 !ur
,hs relief of soldiers :ami-
lies, - 6 /!
F,r bountie., 2,9ss IL =
For other war purp8 c., -, I.9 "
The receipts in the same period
have been from State taxes
assessed prior 10 1861, 4tj,l41 -
State tax ot lSG4, 3>i21l -
From Ioaus permanent and temporary,
2,965.uUU 90
From all other sources, 3o9jl3 Is
1t appears that a debt Of s2,9G5,t5e
has been created during the past ye4r
which added to that existing Jan. l>Gi,
makes the whole debt OF the State a.
represented by loans - ,J37 ,ou0. la ad-
di,ion to this Is the amount 20 be reiuni-
ed to cities, towns a., ier aiI furnished
families of soldiers in ls6l not payable
till 1865 bu, constituting actually debt
against the State. The amouht Of this
last item in consequence OF tae returns
not having been made, | am unable 10
state, but it is supposed that 1t will reach
. higher figure than was required Tor the
same object last year.
The Legislature OF 1854 in lcvyins the
State tax for that year assessed the sum
Of six hundred thousand dollars beyond
all requirements for the established ordl.
nary civil expenses of the State incIud-
Jog the interest on the whole public debt.
Tue revenue derived from this tax l.
that on which the treasury relies to de-
fray these charges the present year and
whatever may remain after meeting them
will be applied to reduce the debt 10 the
cities and towns for advances to soldiers
families. A portion Of this tax has al
ready been paid into the treasury and
disbursed, postponing for the time the
necessity to that extent Of making a
loan, but which the exi xigencies OF the
treasury the coming year will require to
be made. The loans effected by the
Treasurer the past year have been made
under the authority of Resolves approved
March 10, 1864, providing for the bor-
rowing Of three millions of dollars by the
issue of bonds on a term OF twenty-five
years to refund advances to soldiers iaml'
lies and for the payment OF bounties.-
These resolves also authorized tcupora-
ry loan Of any portion OF this amount
which the convenience OF the treasury
might require to be refunded from the
sales of the bonds. Under this authority
bonds have been disposed Of to the amount
of S2,765 600, and there are outstanding
notes on short time for S2O0,0 The
success of the Treasurer in negotiating so
large an amount of the permanent loan
OF the State under the Limitation OF mol
selling below par at time when there
existed SO much competition in the mar
ket Of public securities seeking the money
of capitalists, many Of them at rate OF
interest very much above the rate PAID
by this State is substantial compliment
to the financial standing Of Maine. The
difficulties of negotiation for those under
the necessity of borrowing are not likely
to be diminished in the future.
The constitutional restraint imposed
upon the power of the Legislature to IN
crease the debt Of tho State, was most
wise provision, and though not affecting
it upon the occurrence Of warlike necess'-
tics, still the spirit by which IT was dc
tated demands its chary uss.~
The magnitude of our present de9t en-
forces this consideration, and when 1t Is
considered that the municipal corpora
tions Of the State have Incurred IN