The Portland daily press., 1876-01-10

Treasurer, for the year ending Dec 81, 1875
will be presented to the Legislature on Tues
day. The document is rather larger than the
last report made by Mr.. Hatch, and contains
an unusual amount of Information relative te
the state finances and the sources OF revenue.
The amount received into the treasury dur.
ing the year 1875 was 81, $50, 77543, and the
balance in the treasury Jan. l, 1875, was 1922,
1852. The total amount of payments for the
year 1875, was $1,513, S67.43, and the balance
in the treasury December 81, 1876 was $751;.
O93S4.
DIsBURs EMENTs
The principal disbursements were as follows
Public debt $24OO; interest on public debt
$423,930; sinking fluid of 1865, $123, IT'S. 80
ditto 1865, S79, 3.21; pay roll of council $3996
of senate $S658; of house $31, 66050 of consti-
tutioual commission 2,044. 20; salaries of pub
lie officers $61, 1868; clerks in Secretary Of
States Office $2987.73; ditto in Treasurer's of.
flee $3S61. g.; in Adjutant Generals office
$500; ditto for Superintendent of Common
School $1,000; insane state paupers $3.50, 908. 10
insane hospital $24 1888; trustees insane hospi.
school for girls $4,000; Portland orphan asylum
$4,000; military asylum at Bath $4,000; Bangor
children's home $4,000; deaf, dumb and blind,
| $11 so; Maine General Hospital $4,000
state prison $4,000; inspectors of state prison
$1,000; costs of criminal prosecutions $2356.52
reports of judicial proceedings $500 Support OF
paupers in unincorporated places $4144. 81
soldiers pensions 1922, 536.66; military pensions
$199150; military purposes $S,316.u; on &C.
count of school funds, mill tax for schools,
high schools $41, S4605; Agricultural college
$10,500; various sectarian and other schools
1920; Indians SIG, S40.62; fish commissioners
and wardens $3O21 .05; propagation of fish ST.,
225.2 5; steamboat inspectors $793.05; statue to
Gen. King $4,000; printing $27, 543 So; adver-
Using laws $2345 .0S; postage $2O53 So; station.
cry $39S3 80; binding $6,804.17; bank exam.
liner $1235; Centennial commission $S71 SO;
contingent fund of Governor and Council 49,
806 GA; ditto of Treasurer 5000; agricultural so
Secretary of do. $323.97; furniture and repairs
of public buildings $3637.14; for aid of roads,
bridges, etc., $9165.75.
Among the receipts are the following items
in addition to the regular tax assessed upon the
towns and cities:
Tax on railroads S5O,513 70; on insurance
companies $12, n; from the Insurance
Commissioner $1367 IS; savings bank tax No. 6
$72, POP OF; No. $148 1885, % No. s $151, 1853 "a
interest on depotits S. 667. 49, peddlers licenses
$3.50. 80; duty on commissions $2451; from j.
w. Lyman of Machias and Nathan Cleaves OF
Portland, members of the last House, who
would not take mileage but one way $3.50; from
Land Agent 1923, 351. "a; interest $12S9.07.
ESTIMATES FOR 1876.
The Treasurer estimates that the receipts OF
the treasury for 1876 will be 81, 671, S99 60,
which includes the balance of $377, O93.S4 on
hand Jan. /, 1876.
He also estimates that the expenditures will
be 81, 1853 5000, assuming that the Legisla.
ture will make no extraordinary appropria.
tions
RESOURCES AND LIABILITIES.
The resources of the state are $2,O18,782 81,
which are mostly in taxes due and sinking
funds. The liabilities OF the state are as fol-
lows: Public debt s., 95L5 500; trust funds 81, =
$40, 446. So; balance due on school funds, mill
taxes interest due and uncalled for, etc., $780,
172 So; due counties for taxes collected, So, 063-
30; total liabilities $S,O19, 1S2O5.
During the year $114, IA has been paid for
claims made prior to Jan. l, 1876
FINANCIAL CONDITION OF THE TREASURY.
Of the financial condition of the treasury,
Mr., Hatch says:
The close of the present year finds the fnan-
cial affairs OF the state in sound and healthy
condition. As we enter upon the Centenn ial
year of our existence as a nation, it IS a source
OF satisfaction to me that am able to lay be-
fore the representatives of the people, so favor
able an exhibit of the financial standing of the
state. The fiscal year 1875 closes with large
has been borrowed by the state the past year.
Every legal and proper demand upon the treas
ury has been promptly met, and the public
debt has been reduced. Our State bonds com.
mand high premium and are regarded by in
vestors of trust funds among the choicest and
SpouritinS in tho rka oo
favorable as the one here presented cannot but
be gratifying TO every citizen who feels an in
terest in the credit and good name of the state.
SOURCES OF REVENUE.
The Treasurer says that there has been re-
ceived of the Suffolk Bank for interest on de-
posits the past year $4,667.13; for interest on
taxes $1,209.07, making total of $5,9562O to
the credit of interest account.
Since his last report, the Treasurer has re-
ceived the balance of the tax of 1874 assessed
on railroads, making in all $5O,384.52 for that
year. The Maine Central, Atlantic & st. Law
renee and Dexter & Newport roads were assess
ed $54, GA 81 that year but have refused to pay
and the whole matter is in the United States
Courts Mr.. Hatch says that Judge Tapley is
confident that the action of the state in taxing
these companies and enforcing payment will be
sustained, but perhaps Judge T. is over SAN
guine. Of the $50, 3S4.52 received from the
railroads, $3,O35.S3 has been apportioned to the
cities and towns where stockholders reside, as
provided by the act. Of this sum Portland got
$S4O75, Bangor $3031, Bowdoinham $33O.5O-
Augusta $4,000, Belfast $685. 8, Castine Sl26.
81, Deering $21499, Kennebunk $16711 Ken
nebunkport $107.54, Topsham $95 49,
The state has derived during the year a reye-
nue. OF $l2,434.H from the tax on insurance
companies. Of this amount 81, 500. "a is Derry
ed from life and accident insurance companies
and $40, 92S.S3 from fire and marine companies.
The net amount of premiums received by fire
and marine companies from the people of Maine
was $546, 454 80 as returned by the Insurance
Commissioner, and the same for life and acci-
dent companies was $75, 1881. The Treasurer
publishes schedule of the gross premiums of
lire and marine companies for that year, by
which it appears that the amount was $685.
66337, and the same of the life and accident
companies was $795, 64977. On the former the
state gets nearly $1,000 taxes, and from the
latter only about $500. This difference arises
from the fact that in the fire and marine COM
panles the tax is assessed upon the net amount
OF premiums after deductng losses in the state,
while in the case of the life insurance comma
MES both the losses and reserve" are deducted
leaving a small balance upon which to lay a
tax. The Treasurer thinks that this is unfair.
and suggests that there should be legislation to
put both classes of companies upon a more
equal basis.
The Treasurer further recommends tax of
four mills on the dollar to meet the estimated
expenditures Of the treasury, but this will not
be sufficient if the Legislature should make ex-
traordinary appropriations fact which Mr.
Hatch evidently proposes to impress upon the
members OF the General Court
PUBLIC DEBT
Concerning the public debt, the Treasurer
says:
On the first day of January, 1875, the bonded
debt OF the state was 81 ,0SS 400; dedcuting the
amount OF sinking funds at that date it was