Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1878-10-09
Governors Message.

WEDNESDAY, OCI. 3, 1873.
Governors Message.
c.u,fcmes of the Senate and Of The House
OF Representatives,
~, are assembled in accordance with
Aha movisions of the constitution to AS
anne the duties of Legislation as represen-
,,,,r.. Of the people. 1t is their right and
Sntv 10 demand of us the utmost fidelity 10
,beir interests; and just appreciation of
,be rrrat trusts they have placed in our
cblrsr must impress us with deep sense
If oIr res possibility to them. and inspire
n. with The highest resolve to quit our
selves like men. In this spirit let us ap.
prolch the business of the session.
STATE FINANCES.
The state is virtually out of debt. The
amounts due the agricultural college fund
and due towns on account OF the United
Safes surplus fund, are not properly
cbrgeable to liabilities, in arriving at our
prpsent financial standing Omitting these,
therefore, there was on the first day of
lncust, a balance of SS7 ,934.74 in the
treasury after providing for unexpended
,poropriations and for the payment of the
Lst of our war bonds, which mature on
tbe first day of December next.
This is proud record for our little state
In the great war of the rebellion, our SOL
5iprs made the name of Vermont respected
and honorcd, by friend and foe. And now
tbe state has shown herself not unworthy
10 be the mother of such sons by promptly
and ungrudgngly meeting the last dollar
other war obligations. and has illustrated
,he self-evident truth, that the greatest
measure of public faith and honesty goes
hand in hand with the truest courage and
patriotism
The following is the statement of the
treasurer, showing the assets and liabili-
lie, of the state at the close of the last fs-
cal year.
LIABILITIEs.
pue towns L $, surplus fund............. Sl5l9 96
pie slspen-e account Outstanding checks) sa3 81
BJuds due December l.ls76................ $50 W
Duc Agricultural College 10 800 90
sls9,s2S IL
ae on TAX Of ~ nd 6:,t. SsIsi si g g
'''1 --slsas si2 SO
Excess Of Liabilities s................... s5Os5 p
due Agricultural College Fund.- aud due
not probably to be called for for several
yc4r the liabilities would be. s52 9s Is
Leaving balance of assets of;......... of st4l 1884 "A
from which to pay unexpended appropri-
arnus estimated to be paid within ninety
$4,000 OO
Leaving balance eof.................... of S87 s3i "A
year including expenses of Legislative
session.
The reasurer's biennial report gives a
detailed account of the transactions of his
department for the past two years.
STATE EXPENSES.
should regret to have you draw any
Arguments from these facts in favor of al
increase of state expenses. However de-
srahe it my appear to make more liber
al expenditures for some of our public in
Stuion, and for many other purposes, the
present j. not favorable time for such in
crease. Our towns are, most of them, in
debt, many of them very heavily, and it is
plain duty SO far as is consistent with
the necessary requirements of the state to
relieve the people of state taxation and
enable them to pay off their town debls.
The amount Of This Indebtedness on the
third day of March, 1868, exclusive of the
United States surplus fund borrowed,
was, in round numbers, one and half
millions, or nearly the same as the total
amount of state debt at the close of the
war. On account of heavy debts since
contracted by towns in aid of railroads.
the amount is probably as large now. In
diviIual Indebtedness is also quite large.
The rrturns of labor, capital and business
enterprise of all kinds, are comparatively
small. There are strong signs that we are
mIering upon an era of low prices the
world over. The great improvements in
machinery of all kinds; the opening of
hitherto semi-barbarous countries to the
influence of civilization, and the conse-
q.cnt stimulus to production the advance
in means and methods of transportation
and exchange of commodities between diff
fe:ent countries; the rapid increase in the
general facilities for doing business,
and many other signs all point in this di-
recon. Such II period is one of hardship
where taxation is high; where public and
private extravaganza are the rule, where
the laws are not ample for the protection
ofper,ons and property, or prompt and
inexpensive in execution. But under
favorable conditions, II period of compare
lively low prices may be one of great pros
Nrity, stimulating in iustry and commerce
by opening new markets TO the successful
competition of cheap production.
Heavy taxation drives away capital,
clogs the wheels of business, and falls
with scverest weight on those least able to
bear it, 1t not only takes from them di'
IeeIIy their proportion under the law, but
Nlncrcases the cost of articles of consump-
ton so rs to levy an indirect tax upon esch
individual.
Recent statistics show that the prices Of
our farm products, of labor, and most arti-
cIes that 90 to make up the cost of living
do not vary materially from what they
were IN 1860. Our population has increas
ed less than ten per cent, and our grand
list less than five since that time. Is there
any good reason, then, why our state ex'
lenNes should be more than doubledP
Lei me call your attention to some facts
rom the report of the Joint Specia
Committee, relating to the increase OF state
r&Penscs,' maGe at the last session, and
which You will find in the appendixto the
journals of both the House and Senate.
would ask you to make careful examlna
uon OF that report, and would suggest tht
appointment of II committee at this session
Oh the same subject. The figures give the
Stale expenses for the year 1860 and 1876
but a comparison with 1878 would, fear