Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1876-01-11

and the theory Of equal rights, can but
| feel in our hearts TO own our obligations
for the favor acknowl. dyed Ly the fathers
of the State; and with the perils of the
recent past yiyidly before us, TO remen-
Der with renewed gratitude The Goodness
that has been constant TO us.
Within short space OF time the State
has grown from infancy TO maturity. and
has become mother of States.
While we deplore the plain fact that the
increase OF our population suffered q
check prior 10 the war, and failed alto
gelher in the war decade, We are not pre-
pared TO admit any injurious inlerences
from it. The causes of the misfortune
are well understood. and involve no dis
credit. The great farming region OF the
West not only became our overpowering
rival as field oil immigration, but also
attracted our own people. The golden
shore OF the Pacific lured from US hosts
of young men, whose accumulated earn
ings were The smallest pad oil the loss
sustained by their departure. Every
fresh land of promise OF the many that
followed in quick succession, was pioneer
ed by the hardy and adventurous sons oil
Maine. II is generally conceded that
they abandoned the substance for The
shadow; that if their energy. experience
and capital had been employed at home,
and il their example had fostered spirit
OF contentment. they would, rs whole,
have enlarged their own success in lie.
as well as advanced the Importance and
prosperity oil their State.
| ID S,ralv IrafnpH
when the war spept away many OF her
sons. aud the influences consequent upon
it induced n restless impulse. driving
many more to wander or or seek homes
elsewhere. The comparatively isolated
position of the State, and the non exist
ence of large cities within lis borders,
have stood in the way OF the compensat-
ring influx il might otherwise have receiy-
ed. But, though weakened 10 numbers.
We are not dispirited. A hopeful con
seriousness prevails that The elements OF a
great State are here and will eventually
combine TO form one commensurate in all
respects with the extent OF our territory.
Our State is now involved in the dc
preston OF business. aud cessation OF
enterprise everywhere prevalent. The
shadow OF the war is still upon US.
Some OF its incidents are yet remaining.
Prominent among them Is the continual
employment OF the substitute Tor sound
money which is imposed. While the
States have returned TO their old-time re-
lalions To the country, and the army and
navy OF the Union have been re estab
lished upon peace footing, the currency
OF the country continues 10 retain rs war
character. The people OF the State are
substantially OF one mind in demanding
relief from the tickle medium of exchange
which has been tolerated solely Tor The
sake OF the great good il was created 10
subserve, and in desiring the recall OF the
bsnished currency. the only one adapted
10 the uses OF peace. They look TO the
National Government to effect this as
speedily as is consistent with any sacrifice
not absolutely uncomfortable. Ii would be
far better 10 pay directly in taxes the Ger
tain interest Of the bonded debt In which
the government notes may be funded,
than 10 bear the uncertainties, and suffer
from the discouragements tC enterprise
caused by the fictitious Importance they
are now invested with.
The year upon which we now look back
has been n prosperous one. At least, II
has not been one OF unusual hardship.
That il has no. been such is due 10 the
uniailing bounty of our soil. and largely
to the admirable spirit and patience with
which the universities OF this period oil
transition. SIS it is by common consent re-
garded, have been met. Manufacturing
has been carried on with bat little pros
pect OF remunerative returns in many
cases. and thus Wiliog hands have been
enabled 10 earn daily bread. a general
decrease of profits has not been attended
By general want and suffering.
The affairs of the State, with which you
are Immediately concerned, kave been
well conducted in all departments, aud
all its institutions have faithfully fulfilled
their appropriate purposes.
THE TREASURY.
The ordinary routine OF the Treasury
has been more difficult than usual, and
special and important duties have deyolv-
ed upon it. The cash on hand at the
close of 1874 was 1922, lS5 81 The re-
ceipts during 1875 were 81 sos. 7l5 4S.
The payments from he Treasury during
the year were 81, 5l3 So As. thus leaving
balance of cash on hand December 81
1879. OF S377. 065 81.
TIE STATE DEBr.
The bonded debt Of the State on the
first of January. 1873, was 81 ,0SS, 400. Ii
has been reduced the past year by The
payment of matured bonds TO the amount
OF S29, 1000, and by the cancellation oil
bonds in the abolished sinking fund, and
is now s.. $40 400 The payment Of the
natured bonds aud addition TO the sinking
funds TO the amount of 1872 ,6S9.72. con-
slitute an actual reduction OF the debt the
past year of 1901. Gs9.72. The present
net Indebtedness, after deGucting the
amount of the sinking fund, is S5,272,.
6SS.2S.
SINKING FUNDS.
An act OF the Legislature approved
February "a. 1915. provided for theex
tinction OF the sinking fund OF 1865, by
the cancellation OF the bonds OF the
State of Maine contained therein. and
The transfer OF the remaining portion Of
The fund TO the sinking fund oil 1868.
In execution of this law the Treasurer
has cancelled bonds 10 the amount of
SLIP, 900, and transferred bonds aud
cash TO the amount Of Sl0l ,524, 05. there
by entirely exlinguishing the fund which
was established Tor the payment at ma
lturity OF bonds falling due August l5
| 1880, March I, 1888. and June l. 1889.
Therefore, there is now no actual pro.
vision for the pay ment of these bonds.
They rest entirely uponth credit OF the
State. The act referred 10 contemplate
| their renawal and extension; il author.