Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1869-10-26


six hundred and thirty-scven dollars and
seventy-one cents, (s59.637.7l,) was APP
nlicable in reduction of that sum, leaving
the net liabilities of the State, not then
provided for, one million one hundred and
fo- tv-six dolla,s and eighty cents, (Sl,-
LAG, 000.S0)
The funded debt has been reduced dur
ing the year one hundred and seventy
nine thousand five hundred dollars, (l79,-
5OO.OO,) which sum includes the bonds
purchased, but not cancelled and the
net reduction of the total liability of the
State during the year, treating those bonds
as paid, has been one hundred and fifty
seven thousand forty-two dollars and thir-
ty-four cents, ($157 ,042.34.)
At the close of the war in 1865 the
funded debt was one million six hundred
and fifty thousand dollars, Isl, $50, OOo.-
90 \ and the total liabilities of the State
were one million eight hundred and thlr-
ty-iour thousand one hundred and sixty
three dollars and ninety-six cents, ($l,-
1874, 1885,
During the four years which have clap
sed since that time the funded debt has
been reduced six hundred and two thous-
and five hundred dollars, 1902, 800 90 J
and the total liabilities not provided for
have been reduced eight hundred and
forty-one thousand two hundred and fifty
nine dollars and fifty cents, (So4l ,2o9,-
50)
The bonds of the State 10 the amount
of four hundred and eighty thousand dol
lars, (480, 10000, fall due june l, 1871;
of which four hundred and four thousand
three hundred and five dollars and ninety
eight cents ($404, 305.98) remain unpro-
vided for and provision should be made
for their prompt payment at maturity AS
the Auditor of Accounts gives no very
certain assurance that any considerable
amount will be received within that time
from the General Government in further
payment of the claim Of the State against
the United States, this will involve the
necessity of increasing the present year
and the next year the amount appropriat.
ed to the sinking fund. The amount ap
propriated for that purpose in 1868 was
one hundred thousand dollars, 100000.
00) but the amount actually applied tc
that fund from the tax levied in 1868 ha'
been but sixty thousand dollars, $3.50,
000.00)
And if the excess of the current ex
pensos over the current resources, TWEEN
ty-one thousand one hundred and eigh
dollars and forty-cight cents, 1921 Jos,
4S,)-had been paid from the avails o
the tax, it would have left applied bic It
the sinking fund from that source bu
thirty-eight thousand eight hundrc'
and ninety-one dollars and fifty
two cents, 1898, S91.52) instead o
one hundred thnnsana dollars (S100, 600,
co. as was intended. This is due TO tn
fact that the amount required to be pai'
during the year for the expenses Of tn
: State, allotment claims, for the State pa,
due to soldiers in the late war, and othe
matters, othor than payment Of intercs
on bonds and leans, has largely exceede,
the amount estimated at the commence
ment of the year, upon which estimate tn
: amount Of the tax levied in 1868 wa
based.
1t is obvious, that for the purpose G
= meeting the current expenses Of the pres
ent year, and such claims against tn
} State as are due and outstanding, and mak
G ing necessary provision for the redemptio
/ Of the bonds due in 1871, larger ia
' must be imposed than was levied in 1856
the necessary amount Of which will b
reduced by just so much as the aggregat
amount of the current expenses for th
= year can be reduced.
1t becomes, therefore, the percmptor
duty, as it undoubtedly WILDE the pleasur
of the General Assembly, and of ever
: officer Of the State, to provide for an
G practice the strictest economy IN all ma
q ters affecting the finances Of the State.
n COMMON SCHOOLS.
IS | commend to your care the education
s. al interest Of the State, the CONNIE
d schools, the academies and colleges. A
c the foundation of these interests is N
c principle, recognized even previous to d
x adoption Of the present Constitution I
3 the State, that the State is under obligi
J ton to provide free schools for the educ
g. ton of all its children and from this 70
IL lows naturally the requirement, that Ii
d schools thus provided shall be the best
: their kind, which can be furnished for I'll
e amount of money expended, and that tho'
Is for whose benefit they are furnished, sha
= partakc of their advantages. And in Ell
;, larging and improving the standard of &c