Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1875-01-12


the revenue which will accrue 10 the
State from this source. For the year
ending Dec. 3lst, 1874. the excess OF
premiums received over losses paid in
this State, was little more than one
million dollars, about three filths Of which
was on account OF life companies; but
the returns Tor that year afford little light
as to the probable amount OF deductions
TO be made under the act.
/ or the twenty.seyen States which tax
/ the business OF life insurance, and OF the
/ thirty. two which tax the business OF fire
and marine insurance companies-on the
| Just principle that whoever Is protected
by The Stale should contribute towards
the public expenditures-scarcely one OF
them imposes so light IN assessment rs
that provided by this act. Undoubtedly
so moderate an exercise of the just and
necessary power OF taxation, will lead 10
corresponding moderation in claims for
deductions, and 10 n prompt response TO
The requirements OF the act. Tue license
fees imposed by the statute on insurance
brokers and on foreign insurance com.
panies and nearly nine .tenths ol The in
surance business OF Maine is donu by
out of State companies. ARE so meagre
as TO fail TO meet the expenditures oil the
insurance department and leave q fair
| balance 10 90 into the State Treasury, rs
was intended; inasmuch as the balance
now paid into the treasury lails To meet
the payments by the State Tor the printing
I OF the department, | recommend, there.
fore, that these fees be moderately in
/ creased.
EQCAIIzING BURDENS OF TAXATION.
While il is incumbent on Legislators to
restrict the State expenditures within the
narrowest limits consistent with a due
regard TO the public welfare. II IS at the
same time their duty 10 seek 10 80 dls!rlb'
ute aud equalize tho heavy taxation
growing out OF the war Tor national eN.
istence. rs 10 avoid making the burden
fall in undue degree On those employ
menls and productive industries on which
the prosperity of The State so largely
depends. Without such adical reiorma-
tson rs will lead all men 10 he honest
and truthful in rendering statements o!
their property, il IS OF course impossible
to devise any system OF taxation which
will be absolutely equal as capital which
is represented by stocks, bond', loans
aud currency cannot be- reached by The
assessor as readily rs that invested In
farms, houses, stores, mills, work shops,
ships. and other visible property, At the
same time, this liability 10 inequality
should be corrected so lar aS Il IS possible.
So tar rs capital is invested directly or
indirectly in banking, railroad telegraph,
express aud insurance business, II may
be and should be reached. The last leg
i,lature inaugurated steps in The right
direction with reference 10 part oil these
interests. earnestly hspe that you Will
continue to press forward measures look
ing 10 such u system OF taNN:on rs viii
tend to equalize the public burdens. In
my judgment. it il possible-cerIanly so
with an amendment OF the State consIl.
lution-to ultimately provide for all eI.
penGitures for Slate purposes by just
tax on national and savings banks. rail-
road, Insurance. telegraph, and express
companies. wild lands. und q few other
interests, without assessing q single dol
lar on the several towns and cities.
pEvRSIE ron THE PRESENT YEAH
Under the practice which has always
prevailed In the Treasury Department.
OF Distributing the State funds In moder-
ate sums In banks located ut convenient
points in the State, without charging or
receiving anything for the use oil the
same, the State has received only the
small revenue derived from deposits In
Boston. where most oil the interest on the
State debt has been paid. | see no reason
why The cash balances in the hands OF
The Treasurer. averaging $3.50 600.
should not he deposited In such banks rs
are willing 10 pay . moderate interest Tor
the use of The same; and | recommend
legislation 10 this end.
Under existing laws the tax on shares
in National Banks owned out oil the
State, goes TO the municipalities where
the banks are located. There seems 10
be eminent proprlety in having the tax
on such non resident shares go into tho
State treasury for the benefit OF all the
people of the State. as Is the case in
Massachusetts and Rhode Island; and
recommend legislation TO this end
Should The legislature think ii eSpedlcnt
10 impose q tax on the receipts OF cx.
press companies and on The property ol
telegraph companies, additional State
revenue could be derived from these
sources. IL may be reasonably expected
that the revenue derived from these
sources, and from Savings Banks and
public lands. during the current year,
will be equivalent 10 The amount that will
be required 10 meet the ordinary current
State expenditure.
There will then remain TO DO provided
for by taxation sum equivalent to The
appropriations on account oi The public
debt, and for public and Free High
School purposes-a two mills on the
dollar OF the Stale valuation Tor schools.
and a similar assessment on account of
the public debt in case i. shall be decided
to renew portion OF the loans. and
otherwise three mills. Could reliance
be placed on the prompt payment OF the
tax on railroad and insurance companies
during the year, State tax of three and
half mills on the dollar, instead OF four,
would be sufficient 10 meet all State eN'
penditures, "A reduction Of one and .
half mills from that OF last year. which
would extend gratifying relief to the
people oil the State.
THE EDUCATIONAL ISrsEEsTs Oh THE
STATE.
The statistics presented in the report
of the Superintendent OF Common
Schools Enthusiastically indicate q gradual
improvement in the educational interests
OF the State. Notwithstanding there has
been no material change in the census
number OF scholars, yet the number sf
pupils registered during the past year,
the average attendance, the average
length of the schools, the number OF
school houses in good condition and the
amount of school money voted by MUM
cipalities. as well rs thai distributed by