The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1870-01-07
GENTLEAEE OF THE SENATE AND

ION, IL Is wen to impress upon the mind due
esumate OF their importance; and acknOw-
edglng and invoking the divine favor, seek for
wisdom Ia their faithful discharge. 1t is true
That Inc councils of the nation have more to
90 with the greater matters of our common
veal or woe; but the questions which are
) Wlthln your control, and the duties to which
you are now solemnly devoted are worthy of
your pest thought and conscience and wis
dom.
Whlle the dark burden of the war rolled its
gloom over us, the people were not niggardly
IN giving nor over-critical in receiving what
ever promised material for the common de-
renee ana AID IN the great deliverance. With
patflotlsm which knew nc class or section,
win generosity which counted no cost, and
devotion that shrank from no sacrifice, they
poured their choicest treasure and their most
precious LIE into the field, where the great
issue was joined for the guarantees of liberty
and government of law. Intent on this they
paid little attention to little things; they did
not stop to challenge either men or measures
that came in the euise and color of the COM
mon cause. But the crisis is now past; the
field won. The times are different; our du-
ties new. We must challenge both measures
and men, cast out the false, displace the weak,
antreneb the struno. W. = I>--1 o,rn.
the tumuItuous track and see where ruin can
be repaired and abuses corrected; the false
channels cut by the wild overflow and sapping
our strength damned up; the true currents of
prosperity restored. We must look forward,
not only to see what must be borne, but what
must be done,-stifed energies to be set free,
new powers put in motion. No spirilless or
timid reluctance to erapp'e with the vexed
questions which may claim our attention,
should he allowed to settle upon us from the
too modest impression that our acts are of
little consequence. On the contrary never
was sound judgment and generous toll and
the clear sharp scrutiny that runs before and
after, more demanded by the exigency of the
times and the interests of the people.
A government has something more to do
than to govern and levy taxes to pay the gov
ernors. 1t is something more than police to
arrest evil and punish wrong. 1t must also
encourage good, point out improvements, open
roads OF prosperity and iniuse life into all
right enterprises.
1t should combine the insight and foresight
of the best minds of the State for all the high
ends for which society is established and to
which man aspires. That gives us much to
do. We sit down here to devise things for the
public good. Let us be at the work early, and
do it both we'll and quickly. For bo,h are
possible. Promptitude and activity will ena-
BILE us to avoid a protracted session, omitting
nothing and at the same time considering
WELL That there will be conflicts of opinion
and differences of judgment may be expected,
and is well. When men are thoughtful there
will seldom be unanimity. Where men are
honest there will be sharp individuality. In
dependence, if it is genuine, is no evil, but
good. The great requisite, indeed, on the part
OF those who make or administer laws is NOR
al courage. We cannot expect much that is
good from laws enacted under camor or to
meet some crisis, nor from statesmen who ara
o1,;o In To ,o;,.
place and power. One thing we may be sure
of, the virtue in the hearts of the people, that
instinct may be deceived but will not be de-
feated. 1t Itdemands honesty and will pardon
us if in that cause we are over bold.
One man indeed, we have lost from active
participation and influence in our affairs. One
voice is silent that was wont to speak only
homes. conviction without favor and without
fear. William Pitt Fessenden is gone. The
race of men that dare be right has suffered
loss. The man who will calmly resolve and
give judgment with understanding, unmoved
by the voice of those who seeing not so clearly
feel more violent'y-the man who aims tor the
ultimate right rather than tor the near advan-
tage-the man who in the tremendous hour
of responsibility when great issues hang upon
his action, hearing above the tumult of ftaunt-
ing foes and supp,icating friends the deeper
voices of reason and conscience, fixes his SID
Gle eve on duty and stakes his all upon the
deed to lose. One By dite find tnd aea harn nsn i
around whom our hearts rallied in the dark
days of the Republic are passing from our
view. We feel that we are lost rather than
they. Happy will it be it the young men now
rising to their places shall learn from their ex-
ample and be able when the day of trial comes
as well. The deeds of such men live after
them. Their words are gone out unto the end
of the world. Their light shall shine along
the heights OF history as the glory lives on the
Alpine peaks when the sun is seen no more.
The vacancy in the United States Senate it
became my duty to fill for the time, and l ac
cordingy appointed Hon. Lot M. Morrill,. 1t
now devolves on you 10 elect Senator for the
remainder OF the term ending March, 1871.
proceed to lay before you an abstract of
the condition of the State, with the few sug-
gestions which appear needful to be made !;
the more complete details and cogent reasons
will for the most part appear in the several
reports and other documents submitted to
your inspection.
FINANCIAL.
The report of the Treasurer will present a
most interesting statement and history Of our
finances. Our receipts during the past year
have been S939, so, and oUr expendi-
lures $919,609 so. On the old civil debt we
have paid the annual installment of $4,000,
leaving a balance of $3S4O00. Our war debt
December 81, 1869, was $4,632 800. This is
amply provided for by the sinking fund aris-
ing from the tax of three fourths of mill on
the dollar by the valuation of 1860. OF this
debt $SOO,O0O falls due in 1871. The sinking
fund, with the collections from the general
government applied to extinguish this debt,
already amounts to $972, $780, SC that we are
already $172 $50 in advance of our liabilities
in 1871, and at the present rate of increase we
shall be $3OO,S00 ahead.
Our whole public debt January 1, 1870, in
cluding the civil and the war debt, and the
municipal reimbursement loan is $S,100,900.
Notwithstanding the heavy drain on the
economical and cut short that the loan au-
thorized to meet current expenses has not
been resorted to, nor have even the appropri-
ations been exhausted. 1t is estimated that
with all that may reasonably be contemplated,
the rate OF taxation this year will fall some
what short Of the last Still, we should make
all reasonable appropriations. 1t would be
Door economy to refuse to expend any
money till our debts are paid.
The remarkable feature of our finances this
year is the assumption by the State of por-
tion of the war expenses of towns. This is
made at the rate of 500 for every three years
man actually furnished for the war. After a
long and thorough examination of the most
| tangled and perpleXing matters the ccmmis-
sioners appointed to adjust the reimburse
ment have now made their report, which will
be found to contain curious matters OF history
| in regard to the method of furnishing men for
| the war. They adjudge the sum of So, 1O5, 1885,
33. Ihe fractional parts of 500 required to
| be paid in currency in this distribution
amount to $20,7S3,33. For the rest, viz. S.
| OS4 400, bonds of the State are now ready
| for issue bearing interest from October l, 1869,
at the rate of six per cent, payable semi an
nually. To provide for this interest and the
rateable portion of the sinking fund required
to extineuish this debt, you will need to as
| sess the sum of about $4,000.
| 1t would serve as a protection against loss
or robbery, if you were to provide for the
| registration of these bonds as the holders
might desire. If a portion of this loan find its
way to the market, there is no reason to ap-
prehend serious depreciation. Under the
| late strneency which so severely tested
| all bonded securities ours fell off not
more than 2 or per cent. from par
| When we consider also the much higher rates
| of interest offered by other securities which
| flood the market, we cannot but congratulate
ourselves upon the public confidence in our
financial soundness.
The liabilities, which. one way or another
grew ort of the war, have laid heavy bur
den OF Were it not for this,it will be per-
ceived, liabilities would be trifing. But
il mus born in mind that this debt does
not re- mt what is wasted and lost. 1t is
a herli Of honor and patent OF nobility
and if Ia seems too unsubstantial consola
tion to those who dwell on the more striking