Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1868-01-10
Governors M esSago.

Commences with acknowledging Divine Ia
vor, and brief allusion to the depressed
state OF business. We give entire his re-
marks on the finances
Il is gratifying in this connection to be
able torep that our financial condition.
which before has been considered sa,isiac-
tory, has still improved. Oar bonds are
not often in the market; bat have ohserv-
cd within few DAYS that they are quoted
mt a mere fraction less than the Government
seven thiriics. The script for soldiers
bounties fell due on the first day ofFeh-
uiry last. aufoanting to 1884 %, with
interest, of which all but : 10, 900 has, been
presented aud paid. of cur funded deb:
the annnai INSTRUMENT Of s::,,7 900 has also
been paid. This is all that has been dis
bursed this year outside Of our current ex,
penditures
The War Claim Of the st te against the
General Government has been made an OBJ
j cto sp CT latteJ'ion. II n a auel Ceny
mas assisted IN preparing the evidence re
Iuireu Oil tue suspended items and IN pros
ccuting the claim generally. We have sue
ceeded in obtaining the allowance OF 1856,
$40, Is, of which 1,7G2,0i wa q .,lied
TO cancel our direct tax Of STA, :,
inone of which found had been previous
ly paid obtaining discount of Upper ccat.
The balance of S2O9, l4l,35. has been paid
into the State Treasury. and applied in ac
cordance with the law of 1861, Our whole
claim. as now filed. amounted to Sl.30l.
57I.6S. This is accounted for as followsi
Allowed in 1864. s2o)O0e; in 1852. Sl20,
000, III 1867. S566.oi6 10 suspended and
disaliowed, SIl7,725.33 Some of the
items which found ;heir way to the .Au
ditor's Bureau were so obviously improper
as charges against the United States, that
it has been thought best 70 withdraw them,
In order to leave the account i'll a better
shape to urge to settlement, 1iiis hal
enca may be arranged as follows Dlsaliew-
ed as improper charge abaut S90J,0ID dis
allowed want of sufficient legislation about
$55.000. suspended for proof or explain
atm SI30.00). Oar claim has been
promptly met. and am assured by the
Department at Washington that no State
has been more fsvorably dealt with in the
settlements thus far made, Tie prosecn-
ton of the claim is at present suspended,
until the order of business at the Treasury
Department will allow its further examin-
utibu. Will be lila III up III l.ic
earliest possible moment. Furthur legis
lation is still required to authorize the REIN
burslnen to States Of many of their nccess-
expenses in furnishing troops for the war
In proceeding to state the amount o. onr
public debt | must re LIN you that con
siderable ortion of this is the balance of
our old indebtedness. Ourdeht at the conn.,
mencement of the war was So39.00o. 10
The thirty to forty thousand dollars which
We are now paving annually is on this cid
debt. The balance of this at present is
about Si56. 900 The whole amount of
our funded debt to day is $780, 500. from
which substracting the civil indebtness
above we have as the war debt proper 81.
632 500. OF this the first which matures
$500 900 in 1871. To provide for this we
have the sinking fund of Sl23171,s9 a
year, which already amounts to $3.50, $40,
35, AMI which. ii continued, will abundant
" meet this, and all other bonded indcbt- |
edness as it natures. Fortunately. how
ever. we are able to add tn this provision
OF S209,l44,35 which has been collected
from the General Government. and by the
prudent management of our Treasurer
there has been realized as profits, by buy
ing in our own bonds at a discount and re
investing the aecrung Interests on them.
the sum OF 50 500; Ia other ways also
We have advanced upon our next years
sinking fund some S75.000; 81 that we
have in our hands to- day So ,501 towards
the SS00. 900 which falls due Ia lc7l, lear
ing as our actual Indebtedness ON the war
account s,00I,000.
1t is easy to see from this statement.
a. 1. I 1
vide for ouf debt at maturity, and il it were
necessary we might even appropriate To
to some other more IMMEDIATE use what We
receive from tn. United States Govern
ment as reimbursement of our advances
1t is worth while ta observe that the loan
OF S5o0000 authnriz d by the last legisla-
tire has not heen rcsortcd to. the economy
o. expenditu be o / thgt was co TEN
ted in tine appropriations having m r. than
made up this sum. The heavy draft for
Pensions and aid to families of soldiers is
now generally diminished. and the Treas
urer is Of opinion that upoa our usual ratio
of estimates our rate Of tax may he reduced
to FIVE mills on the dollar Instead Of six last
year.
Only a few Banks in this State are oper-
ating under old State charters and none
such have failed to redeem their hills
The increase of deposits in Saving Banks
has been during the last year over mil
lion and a hall which Confirms his opinions
oflast year that there is more private prop
erty distributed among the people than be
fore the war The debt has been trans
ferred from private citizens to public treas
urirs.
This is by no means the most distress
ing farm of debt. These banks also hold
for the benefit Of these irugal depostors
million aud quarter; so that large cap
itaiists are not the only ones who have ad
vantage OF the exemption OF Government
securities from tax. But the mos. remark
able fact which appears is. that the sum o
this moment invested in our Savings Bank
alone is eousiderahly more than the Who'll,
amount Of oar publc State debt. Thes,
frcts. aud the differences and aucnrie,
fem them. furnish a most agreeable relic
to our liabitual eagitatons OH the iuduslria
and financial state of the country.
He recommends that the Bank com
missioners BIZ constituted Insurance In
speetors. A remarkable misapprehen
sion exists, in regard to the law requirin!
national bank stock to be taxed where sucl
Banks are located. This is not in conse
qaence OF any State law or any grievances
which the State can remedy, but is OWN,
to a law Of Congress, and the remedy lie