The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1872-01-10

The report of State Treasurer Caldwell makes
a more satisfactory exhibit of the condition Of
the Treasury than has been seen for many
wears The public debt has been largely reduc-
I'd during the year, so that the sum to be paid
annually for interest has been cut down 500
600, and the State tax called for will be consid-
erably lessened.
.aa Tbezestimated receipts for the year 1871 I
amounted to 2,190, 109.61; the expenditures
were So IL s. OIL III. There was cash in the treas
ury Jan. l. 1871, S11S, 24S II; on December ~,
=1871 there was $780,, 446.51. OF the amount
paid as shown by the Treasurer's account, me
principal sums were 1854 ,ooO on the p,bi;c
debt, and $479,579.5O interest," on the P"o'0
The estimated receipts for the year 1877
amount to 81 ,268, 1924; the expenditures Ier
the same year to 81 064 ,675.76. me amount OF
Tanuepv 1st 1870 L is So ,227 900. Deduct
ing the amount of the sinking funds,
S79S. 295, and cash on hand, $i55, 295,
in excess of immediete Liabilities, and the in
debtedness of the State IS represented by the
sim of Sc. 274 80 The payment on the debt
was made by $4,000 from the general revenue
of the State, and $500, 900 was received from the
sinking fund of 1865. By the reversal of the
decision of the Supreme Court requiring pay
ment in gold of certain debts, the Treasurer
was enabled to make his payment toward the
debt in currency, with the exception of $4,000
which was paid previous to the reversal of the
decision. .,A .,... ag,.-,.,,,s., ..,..-
A statement Of the sinking funds is given in
the report. These are two, one established IN
1865 the other in 1863 The first amounted at
the commencement of last year to 81, 178, 677.6
it was increased by additions during the year
to the sum of 81, All, 6S4,06, and reduced by the
| sum of $500 41906; so that the present amount
of the sinking fund is $611, 265.0O. The second
| sinking fund amounted January l, 1871, to wy,
04S.55; it was increased during the year to the
amount of $1S7 ,03O.15, all of which, with the
exception of 81 ,730 10 in cash, is invested in
bonds of the State of Maine. a.. Ign,
= The Land Agent has paid into the State
Treasury during the year $19, 1859 10. The At
torney General has made settlement OF the
claims of the State against Messrs. Wyman
| and Brown, growing out of the transactions OF
b. D. Peck as State Treasurer, and paid into
the Treasury last May $3,07S.91. The State
has now received on the deficiency account OF
b. D. Peck $51 ,290.41; there is "a balance still
due of $42, $3.50, part OF which may be COL
lected. l.E.-.aa 49,.
The sum of $4501. "a has been received from
the United States during the year, of which
1852. Al went to the European and North Amer
lean Railway Company, $500 was money re-
funded for double bounty paid member OF the
First Maine Cavalry, and the balance, So, 93S. 90
was received through Governor Perham ON &C
count of our late war claims.
The sum of $3915 has been received during
the year from leases of shores and islands be
fund now held in trust for said Indians by the
State is $67, ZAP -. s.r.,
The committee appointed to settle with the
State Treasurer for 1871 found his accounts cor
rect, and destroyed all the bonds and coupons
redeemed by him during the year 1870 amount
ing to 1886, 261; also all the bonds and coupons
converted by him into registered bonds, amount
ing to $639,000; and made record OF the
same. s. lt. l...st. a5 So ri.s. !
During the year 1871, coupon bonds to the
amount of S.i2. 600 have Dean surrendered aDC
cancelled, and registered bonds substituted
The Treasurer says ''the advantages of regis
tration are so apparent, that undoubtedly the
time will come when the larger part of our pub
lie debtwill be represented by registered bonds .
The war claims of the State on the genera
government were about 81, 800, 900 of which the
State has received 81, OILS, 470,79. lt..s
The last. Legislature authorized the Treasur
er, if he should deem it necessary during the
year. to procure a temporary loan of S200,0 600
or so much thereof as might be needed, but ht
had no occasion to avail himself of the author
ity given.
The debt having been reduced more than ont
tenth during the year past, and the annual in
terest to be paid eurtailed by the sum of $50,
900 the Treasurer recommends the reduction OF
the State tax for the year 1872 to four and
three-quarters mills on the dollar, of the State
valuation. .r..
The report gives the best assurance the PEG
pie can have of the manner in which the finan
ces of the State are managed 1t is gratifying
to know that the State debt is rapidly decreas
ing and the burden of taxation becoming less
The estimated receipts for the year 1877
amount to 81 ,268, 1924: the expenditures TO
the same year amount to 81, 064, 1886. ys,l
The principal items of expenditure during
the past year were as follows