The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1879-08-30
Lewiston Journal.l

LILO MlSSlAS IIlAoO L eeiieto.
Mr.. Pillsbury at Auburn Hall, and Governor
Garcelon at City Hall, charged that 100000
school and Indian trust funds are missing"
from the State Treasury, or have been misap-
proprated. The injustice of the charge will
be seen by the following letter to the editor OF
the Pennington Chronicle, from Hon. VIM
Caldwell who is now and has been for forty
years the trusted chief clerk in the State
Treasurer's office:
TREAsURER's OFFICE,
AUGUSTA, Aug. %, 1879
Charles w. KeyeS.
DEAR SIR. Yours of the odd inst. is before
me and contents noted. IN regard to the re-
port in the papers and by speakers that the
"various trust funds of the State are missing,
CT have in some way been misapplied," have
to say that none of the funds are missing or
have been misapplied but are either on depos-
it or credited on the books, and the interest an
nually paid as required by law.
To illustrate. 1.-The Permanent School
Fund.- Under an act passed February 23d,
1928, entitled San Act providing fer the pro-
motion of education" the Treasurer OF State
was directed to keep separate account OF all
moneys received from the Land Agent on ac-
count of sales of land, "and the same shall
constitute permanent fund to be reserved Tor
the benefit of primary schools And said fund
shall be put out on interest, in such manner as
a future LEGISLATURE shall determine, and the in
terest annually distributed among the several
towns and plantations in the State according
tosthe number of scholars therein"
Under this law the first payment was made
by the Land Agent to the State Treasurer in
1885, when the sum of $2,S13.66 was paid and
credited to the Permanent School Fund, ''and
from that time up to the present moneys have
been paid into the Treasury by the Land Agent
from year to year, till on the flrst day OF Jan
41,a sparr, 1nr,f oh
credited on the books in this office with the
sum of $437, 97S.17, and the interest ON this
fund at six per cent. per annum, amounting to
$26, 1928, has, with the Savings Bank tax,
been apportioned for the year 1879, among the
several cities, towns and plantations in this
State according to the number of scholars re-
turned.
No future legislature has ever determined
upon any other investment of this fund than
that of loan to the State, which it virtually
is, and schools have had the benefit OF the an
nual interest, as by law provided.
Glands Reserved for Public Uses" Chap. 8,
Sec 9, 13, IA and Is Rev. Statutes, provides
the duty of the State Treasurer in regard to
the funds received on this account, and the
books in this Office show credit OF $154, 97oS3,
as received under the provisions OF law, and
the interest has been annually paid when
called for.
Houlton and Pressure Isle Academies have
credit for the amount granted them, under re-
solves OF 1851, and Hebron ana FOXcrOlG nave
credit for the sums granted them by the re-
solves of 1868, and each of these academies
received the annual interest, as provided III
the resolves.
''Madawaska Territory Fund" The sum OF
$4,000 was set apart by act of March 16, 1861,
for the benefit of the inhabitants of the NADIA
waska territory, as their share OF the Surplus
Revenue, distributed to the inhabitants OF this
State in the year of 1887, and to remain IN the
Treasury as permanent fund, the interest OF
which is to be annually paid for the support OF
schools in said territory.
The amount to the credit of the Penobscot
Indian Fund is $73,S2S4S received from the
sales of four townships of land purchased by
the State of Maine of said tribe of Indians in
1888, and the receipts from leases OF the shores
of several islands in Penobscot River now
occupied by said tribe, and six per cent. inter
est is annually paid to said Indians
The Passamaquoddy Indians have credit on
the books for $24, 127 o. received from sales of
timber and grass on Indian Township, and
they annually receive the interest
The Sinking Fund, Union Mutual Life In
surance Co., Agricultural College and School
Dist. No. 9. town of Madison, all have bonds
deposited in this office, for the several sums
stated in the Treasurer's report.
Thus, in brief, 1 have endeavored to advise
YOU somewhat in relation to these matters.
Yours truly VIM. CALDWELL.