Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1865-01-13

to meet past engagements, or the most
necessity in the future. The
progress of events during your present
session will doubtless develop these.
The people Of this State have most
Enthusiastically announced their purpose to
sustain the general government in its ef-
forts to save the life of the nation, and
they will eXnec; Of you the adoption Of
such measures as shall euall, Maine to
fulfill all her duties.
While compelled by circumstances to
'esort to loans to supply present necessi-
les, q wise administration Of affairs
points to the propriety OF beginning at an
sarly day to provide for their liquidation.
It is with States as with individuals III
matters Of finance. Those who are care
'al of incursing debt and provident in
he arrangement Of their affairs, SO as to
anticipate their obligations, do, and ever
will, command the rcadiest credit and the
highest prices for their securities.
The State has thus FAR reapcd the
benefit Of its high character for scrupu-
.ous punctuality in meeting its engage
ments. | respectfully suggest that the
best interests OF thc Stater.quire at an
early day the establishment OF sinking
fand by setting apart i liked sum anuu.
ally to be applied to the purchase of The
lebt. True it is that the ouly source OF
revenue possessed by the :. ..te Is direct
iaxatiea Tut uul.s, ihe SEai. iatt should
&c largely increased bsys44 . present
amount, the tia Hlt $40 tie
State tax may bs re. ri1sCi
and sill leave i' llrz H= pfitide
such fual @s We naE=a g#aFs ssn-
,Ibly rcluc, ths u Is. =. Inauguration
Of tbs policy woal Greatly strengthen
&c credit Of the STATE. aud facilitate the
negotiation OF It's blaIs il tAe condition
Of the treasury shall require.
The imposition Of a tax Of a single
uiIl upon the valuation of 1850 would
be entirely adequate to the purpos =
Tie policy OF the last Legislature in
evyics State tax sufficient to pay all
nv o,.'"''y e4'' sss u Pon ','c 11y''a'y
ih,''.'.las '"t4t9s' "a '"' ,l '7'a'' 80, @t'u
!, = '"'-9 ~ s'4S 70 % q I'.,e'' - '',' ''a-'
ii'''a u :" s.s'''i.S u eteis' %''t 'o' ''s
i2f ",aI'sy -l'.''''.% II a'' % vac so''
.'s'' - M va '''!u'''. i's'i' - ~
e''' i''0'-2's eo''-iz.s' '''2i' III III =" .
Pf9N',s2a 10 s-.vJ '-' ''s@s''y '0' 'le
"a ! -9''
AssusffIoN e STATE DEBTS.
Th. necessities Of the nation have CON-
...,Z-. t,.iae-css 10 resort - the i'm ,5si.
a., or .,.I. h,ttcr,, uD,aDwn TO our
rtG..-. ap. ,xteat which moth.
80, LIZ tie most m.aunkiar lpyalty
rS,es t,,sr.fI. LUt rbf.h ,nj,r the
ns,,s.fiv caot.5,,e. Ei,l .tgt be called in
,,ue.,iea.
AlIeI to Is. ami in order to give
the national e5y.ra,u.p. almost ex x.,usiye
.,....,..-;+.n of ta,. r.-4rkr. lgr the sale OF
i. ....4i..,. .al -ia3uee The purchase
thereof by ,5s ,o,nl,. tbev have been
.n..;.t.,v s,,a,.,sl from munieinl aud
STAT, taxation. The power to do this
has been ia Ii.I,l!y affirmed by the hish.
e,t tribunal snoFn TO our laws
The wisdom Of this no,iey | 10 not
prouo,e to discuss. Tie coqsequ nee i,
te increase N. burden, of STATE taxation
Ypon t8a yi,..lr Gxed nroncrty in the
St,tr. by ieyitinc yery Iarre Investment,
in rov.rs,pent sssafji;cs rou5Igl with
fl,.'.r g ,.,,,.: ,,-a,iois or;.,s another rrow.
inc out Of the sxc,c;.. Of the power by
Cousre.s, araat;nr charters to the Na.
,.G..,l =. ;,,,,..;,;o, or s,ch