Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1878-10-11
NO. Al.
GOV. PROCTOR,S MESSAGE.

]
of MS the utmost fidelity TO their interests
and just apprcciationof the great trusts they
have placed in our charge must impress us
with deep sense of our responsibility 10
them, and inspire us with the highestresolyo TO
acquit ourselves like men In this spirit Let
rs approach 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
| States surplus fund, are not properly charge
able to liabilities, in arriving at our present
financial standing Omitting these, there
fore, there was ON the first day of August. a
balance Of SS7,934. a in the treasury after
providing for unexpended appropriations and
for the payment of the last of our war bonds.
which mature on the first day of December
next
This is proud record for our little State,
In the great war of the rebellion, our soldiers
made the name of Vermont respected and
honored by friend and foe. And now the
State has shown herself not unworthy to be
the mother of such sons by promptly and un.
grudgingly meeting the last dollar of her war
obligations, and has illustrated the self.evi-
dent truth, that the greatest measure OF pub
lie faith and honesty goes hand in hand with
the trucst courage and patriotism
The following is the statement of the treas
urer, showing the assets and liabilities of the
State at the close of the last fiscal year:
LIABILITIES
D,s to,,.ry y < S,,,.,,1,,. t,,,1 m,
Dne On soid;ar,; ,ocai,,,t, p,T9 '''u Tt'"lI ~
Due suspense account (outstaud
ing ehecks) lS33 50
Bonds due December l, 1876 $500 90
l, 1875 5000 90
o. '-'0 i'"'"OO wv
Sloo oos II
ASSEIs.
Due on tax of 1877 IS, 73l G2
Cash in treasury and
in banks lSG11l27
------%19l.Sl2 50
--
Excess of liabilities &5.oS5 ~
Deducting from the liabilities the
amount due Agricultural College
Fund and due towns On ac-
count of T. S. surplus fund, not
probably to be called forfor sew
era years the liabilities would
be So. 9OS u
Leaving a balance of assets of S141.93+ "a
from which is to pay unex-
pended appropriations, esti-
mated to be paid within
ninety days u 600 90
Leaving a balance of SS7. g34 "A
toward the expenses of the cur
rent fiscal year. including ex-
penses of a legislative session.
M, .,..o-,,,,.,, ,.;s,,.,;., -.
It'll ooan,',,t % .La iel2te sltes 9e
,o-'+ CO... ,, 'e VI MS oe
l'''
STATE EXPENSES.
Should reorot to have Won draw orv arm
ment from tbese facts in favor of nm ;1cra9so
of State EXPENSES However desirable If NAV
appear 10 make more liberal exnendiiuree foy
some of our public institutions and for manv
other purposes. the present is NOT n favorable
time for snch increasa Our TOWNS ore most
of them. in debt many Of them verv bcoviI,
and it is a plain duty. so far as is consistent
with the necessary requirements of tba Stat
TO relieve the Deonle of STAFF tnvoiion or,I on
able them TO nav of their town jabts Tha
amount of this indebtedness ON ,hc tl,ird of
March. lsGS. exclusive of tbn Inifed States
y1rplus fund borrowad vos in rornd ,,,',
hers ono and a hoIf n,iII;ons ~, ,,aayl,, H.,
same as the total amount of the Slal4 ait
at the close of tLe war. On account of h,.o,.r
debts since contracted bv towns in ala of ra;i
ronds tha amount is nrohallv os ioro,, now,
Individual indebtedness also Is orit9 l,r,o
The returns of labor conitoI and bnsi,oss o.,
terprises Of all kinds ore comnaroti,eiv
small There are strong signs tbat W., oro
entering upon an era of low Erices tbo ,yorid
over. The great improyems in machinery
of ali kinds tbe onei,ino NJ bitbe,to eo,1i TO-
barous countries 70 tba inenanc, Of oiyi,i1a
ton. and the CONSEQUENT stimulus IN nrod,,c-
ton the advance in means and methods of
TRANSFORMATION and EXCHANGE of connoJitios
between diferont countries tho raniJ in
crease in the general facilities for doing brsi-
ness and many other siors ali noint 2r tbis
direction. Such a neriod is one of bordsbin
where taxation is bipb. where nuhlic and
private ovtravoranco ern tbs rTIa wboro tLa
laws are not ample for the PROTECTION of ner-
sons and pronertv or nron,nt and inevpen-
sive in execution. But under favorable CON
dtiors q neriod of con,,loroti,,aI io, -