Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1876-02-16
XermOnt,s FINANCES.

The Burlington Free Press having pub
lished a communication inquiring why our
state tax need be so large, and why the State
Treasurer carried a balance on hand of three
hundred thousand dollars, Mr.. Page has sent
to them the following conclusive answer
"Now, Mr.. Editor, such balances have ever
been carried over. Inquirer evidently lost
sight Of the fact that the yearly statements rem
dered and published are made just after the col
lection of the annual tax, which is used for the
disbursements of the year following
The tax now being paid is not due until June
next, and the treasurer cannot ask for dollar of
it until that time, All payments being made are
voluntary on tho part Of the taxpayers and il is
then optional with collectors to pay over TO the
treasurer now or the first of June next Should
no collectors pay to the state until June. the
treasurer would have to borrow to pay current ex-
penses Last year the disbursements between
February LIST, and June LIST, in payment of auditors
and court orders, amounted TO the sum OF one hun
bred and eight thousand eight hundred and sew
enty dollars and sixty-one cents On the 9th of
January last the sum total Of funds held by the
treasurer In all the banks In which the funds are
kept was ninety-three thousand six hundred and
forty-eight d Jllars and seventy cents The orders
being drawn the current year for court expenses
are in excess OF the same class of expenditures
last year, SO that instead Of carrying over a bal
ancs OF three hundred thousand dollars we NAV
reasonably suppose there will no surplus OF re.
sources applicable to and designed for the present
fiscal year
The tax due next June, part Of which Is being
paid now, will put into the treasury the sum Of
three hundred and eighty-four thousand nine hun
bred and forty-six dollars and ten cents less four
per cent on the advance payments, from which is
to be paid bonds due this year one hundred and
two thousand dollars, which inquirer overlooked
in his examination of statement, leaving for or
binary expenses two hundred and eighty.two
thousand nine hundred and forty-six dollars and
ten cents, which we may safely estimate--judg-
ing from past years-to be at least for legislative
expenses, forty-eight thousand dollars; for audi
tors orders, estimated the same as last year two
hundred aud ninety thousand FIVE hundred
and thirty-eight dollars for court orders esti-
mated same as last year, sixty-sx thousand seven
hundred and twenty-seven dollars; for interest ON
funded debt, eighteen thousand dollars; total,
four hundred and twenty -eight thousand two hun
dred and sixty-fye dollars.
III the foregoing figures are reliable, and there
should be no advance payments OF taxes, next
year, instead OF having balance to carry over,
the state treasurer will probably be borrower to
large amount II 1t should be possible to re-
duce the state expenses, so AZ TO come within the
resources provided, 1t would be very desirable to
do 1t, but OF that there is no probability In con-
clusion allow me TO say that those most familiar
with these matters expect the treasury will be
obliged to run close, and borrow at that before
the fiscal year ending July 81, 1877, is closed.
Respectfully, j. A rAGK, Treasurer"