The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-04


STATE FINANCES.
The total debt oil the State Tor which it's bonds or
certificates OF Indebtedness are outstanding, is shown
in the following exhibit
Amount January !, lS77......... S33, 800, 46l
Troy and Grccrheld Railroad
loan new. $37O,OCO
Danvers Hospital loan (new)..... 10000
Total now debt .............. $500 900
Total Observation-Disclosures. 1910, AGA
Norwich and Worcester Railroad
loan lpad) ................... 100000
Union Fund loan Of 1862 lpaidj. 100000
northampton Lunac Hospital
loan tpaid).. 10000
Total PAID. S65O,O0O
Amount outstanding January
| l. Observation-Disclosures. sas,22o AGA
Reduction in 1877 $780, 900
Tho debt IS classified railroad loans ST. 1875 $685.
loans $40, 66S, ISIS; ordinary loans, 4Sl3,2s0
The ordinary expenses OF inc governments Tor the
year 1877, as far asccrtaned from payment
and careful estimate, Indicate decrease of 100000
from 1876 and an aggregate reduction OF 100000
since 1875. Tho exceptional expenditures exhibit
very much larger reduction during the Two years re-
crred to- while the aggregate decrease classi-
lcations will be nearly sl,CO0,0o0 Tho estimated
penses for 1873 show a still further reduction.
although the appropriations called for are in some
instances. in excess OF those granted N 1871 1t is
believed, however, that the estimated decrease Will be
successfully realized unless overcome by special ess
lativc grants.
DECLINE IN VALUATION
From the statements OF local assessors upon the
valuation OF the roa and personal property in the
several cities and towns OF the Common wealtn
turned to tho ofcc OF the Secretary of State it
the year 1875, and which amounted to nearly
IN 1870 has, contrary TO expectation. con-
tnucd TO hcrelse, and for the year 1877 amounts to
less than $101 0s2 773 making total reduction in
these two years OF $l92, 2i5ol9.
REDUCTION IN TAXATION
There is also a decline in the imposed and
though not SO great in proportion as during tho pre-
turned, and that the people pract ing economy
public expenditures. Tho total reduction OF the
ana in 1877 1851 $685. about $500 900 OF lhc latter be.
ing attributable reduction the State from
the previous year-namc!y, from Sl,S00,O0o to
| $l,50O,0OO.
Tho whole number OF depositors in the savings In
stitutions OF the Commonwealth the 3lst OF Oco-
Der last was 739757, an increase OF IS6 for the year
while the total amount of deposits S244. GA u.s.
being increase that vi the previous year OF
$l,255971 43. In Wow OF the unsettled financial
dion OF tho country, the depression OF business and
tho consequent lack OF employ this exhibit may
be considered satisfactory as It especially marks tho
confidence OF the public generally IN these Institutions
INSURANCE..
Owing to the withdrawal several life insurance
| companies the income OF the department in that
| branch will be somewhat less than IN 1876 In the
department of fire insurance there has been no con-
siderable variation IN the receipts.
| CONDITION MANUFACTURES AND LABOR.
By the results Of an investigation just closed, I'M
deriaken by tho Bureau OF Statistics OF Labor in
cities and towns producing eIghtysix per cent OF
tho whole products OF the State, able to
mako an excellent comparison Of tho condition of
| our largo industries in 1877 with that OF 1915.
| In all there has boon decrease OF al average of
about nine per cent IN tho wages paid; but there has
| boon increase OF working time IN days The paper
trade shows an increase OF nineteen days over the
working time in 1879; tho manufacture OF worsted
goods wenly-seven days, and 10 The manufacture OF
ccrdage cotton goods, carriages, straw goods carpet
timo has been made, while IN boots and
Shoes leather ana agricultural implements
there has been neither increase nor decrease
On gold basis the value OF products from the man
iacture of hats carpeiings, straw goods, cordage,
paper, worsted goods, WHIPS cigars boots ana SHOES,
rnt.f, uaoIg lenfn pr mi mn ms
tac goods, has increased from five per cent TO thir
ty-six per the products OF 1875 while out
few industries SHOW falling of. In nearly all
there has been increase in the quantity OF goods
made; but depreciation in prices, in some instances,
places tho value OF products the minus side OF tho
account instead OF the Plus side, where they belolg
when considered as TO quantity. The results Of the
Investigation lead 10 The boiler that there great
numbers OF mechanics wholly out OF employ mcnt, and
that industries arc steadily working back to The
condition they were In prior TO the panic OF 1878.
| uoosAc TUNNEL
Concerning tho hoosac Tunnel and Troy and Green
field Railroad the Governor says he does not deem It
practicable, in the present state OF things, Tor the
state 10 initiate any new policy.
PUBLIC
AS ono oil tho original members OF the American
Uuion, and second 10 none In bearing the and
| hardshIs OF It's birth and preservation, Mnssacnu-
setls cannot be now indifferent to measures and IN
! fucnccs winch affect the honor and advancement OF
the uaiIon, but VIII ever be watchiu OF the
| In when The government is administered and ~
obligations fulfilled. Her people believe that the
honor Of the couniry cannot be preserved, nor It's
prosperity secured, by gains which come from broken
" need Uc, resist by all juslihable the enact
mcnt OF auy laws which will bear the OF
partial Justcc. In the payment OF the debt created
10 the nation when II reeled amid tho conflicts Of
war, she desires thai me promises which formed
the basis OF the pubic credit shall be honestly and un
deviatngly fulfilled. No sophistry in rcasonn NJ aud
no casuistry in morals should tc allowed obscure
the plan demands OF honest dealing with the public
creditors either AS 10 TINE or character OF payne mt
oil their dues
PUBLIC PEACE
Not only should the public debts be paid and tho
|
to promise made but every honest effort nded
Tor restoring the peace Of the county as the surest
OF revivng It's prosperity ana securing the happi
OF It's people, The war has settled the old causes
OF difference ana they cannot be rcacwed II any sec.
with great unan mny for the return VI peace ana the
restoration Of intercourse and good feeling between
the sections that were alienated by slavery and the
war. IL is the duty OF inc North TO adhere 10 a
pacific policy on tho basis OF constitutional amend
ments; aud the great BODY OF people In the South
have manifested the purpose to accept these amend
ments AS unalterabie conditions. IL must needs bc
perhaps, that occasional conflicts Will arise out Of po
itca ambition ana partisan zea but u they do they
must be dealt with by wise ana ingenious statesman
ship as difficulties inscparaplc from rcc governmen
extending over continental domain There
must be stoadfast adherence to sound prln
cipes OF government, with great to!er
anco as 10 choice OF methods OF administration
Tho right Of local seli-government IN the states
respectively In time OF peace, 1t be republican In
form, Is practically undisputed. Tue latter cannot be
sad to DO granted while state 10 mcnaced by mill
tary iorco within us own borders anu not under IL
own authority ana peace and fellowship cannot b.
said 10 be accomplished without those signs OF recog
milton which demonstrate that tho pacncation Is gen
une and worthy 70 be trusted II any section OF th'
country is in fact false 10 It's professions on this sub
Jecl the sooner that tact Is made manifest the les
dangerous will be It's power Tor evil and the ease
Will DO the remedy Tor the mischief II may bav,
already accomplished.
CIVIL SERVICE.
Massachusetts will also heartily support all prac
service oil the country and Is In full accord with tn
honest purpose OF the President 10 render practica
what mas been so eooueutiv declared In convention