Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1880-03-06

PAYMENT in the manner advised by the Gov
srnor in his message. / move the bill De
amended BY striking ont in the llth- I'm
and 18th lines the words s'eleven. twelve ana
thirteen" and inserting the words lone TWO
and three"
Mr.. YoUxe of Brunswick said thu report
X AZ not unanimous one. still. II was the
rep,rt Of the committee. We are paving in
to the sinking fund Ss0.000 every yeer. Al
the time when these bonds will become due
these payments will have ceased: md the
view of the committee was that at this time
when money can be obtained at So small .
rate. il is desirable to contract loan when
shall be paid when the payments towards the
sinking fund shall become no longer
necessary. Consequently the finances
of the State would run on
uninterrupted until the payments
for the sinking fund will have ceased Then
bv the same amount of taxation the State
would run on and make no great jumps IN
its rate of State tax. The question Is SIM
ply whether the State will put on an extra
tax to raise hundred thousand dollars at
this time for the next year. and so on for
three years until we have raised 500 900.
We shall probably be obliged TO have tax
of FIVE mills under any circumstances. If
the amendment was adopted he saw no other
way than 10 increase the rate of taxation
half mill. He thought it better for the State
TO go on evenly without attempting TO over
burden itself with taxation at the present
time.
Mr. INGALLS, of Wiscasset, saw nothing in
the bill fixing the amount at which the bonds
shall be sold He would favor the bill if the
bonds could be sold at or above par.
Mr.. Brooks of Belfast, said the commit
tee had no doubt that the bonds could be
sold above par. and that they would not be
far behind the bonds of the United States.
The committee found, in looking over the re-
ceipts and expenses of last year, a deficiency
of more than 100000. They also found
temporary loan Of sl25, 900 which, in whole
or in part. ought TO be provided for this year.
Also other bills likely to draw heavily upon
the treasury. The committee thought these
matters should be paid, and in order to do
that if the present valuation of the state was
adopted. they saw no way except to recon-
mend an assessment of a tax of five mills. 1t
was felt that this would be as much as the
people would be willing to pay. In view of
these facts the committee had fixed the time
for the payment Of these bonds in 1891, 1892
and 1898, about 100, 900 dollars in each year.
If it was thought best to assess a tax this
year to meet $780, 900 Of these bonds, on the
present valuation, it would necessitate an
increase in the tax of half a mill, making
five AMI one-half mills, which would he found
a great increase.
Mr.. HATCH of Bangor replied.
Mr.. BRADsTREET of BridgtOn, opposed
long loan. First, because interest runs up
fast, and the interest on 1907 900 would be
1926, 900, by the time the bonds fall due.
This sum might be saved. In the next place
we know that about once in II or 10 years,
we have hard times. We have just passed
through a severe siege, and prosperity is be-
ginning to come again. Judging from the
past it is probable that about 1891, when these
bonds would begin to come due there would
be another business depression, and the peO-
pie not in so good condition to pay as now.
Again. if payment should be postponed II or
10 years, being thus relieved, the State
would be more likely to appropriate for mat
tiers they could get along without.
Mr.. JEwErT of Richmond, quered whether
the legislature was prepared to increase the
tax even half mill. In regard to the saving
of interest he said the State secures its loan
at an interest Of four per cent, the private in
dividual to secure a small loan to pay his tax
es. is obliged to pay at the rate of from to
s per cent. He failed TO see the saving in
interest.
On motion of Mr.. MckusrcK, the House by
a vote of 81 to 32, adjourned.
READ AND ASSIGNED.
An act authorizing Gardiner and Pittston
to raise money for purchase of Gardiner and
Plttston bridge: an act to repeal chap. Jos of
the laws of 1872 relating to shooting seal at
Fair Point in the town of Stockton; resolve
laying tax on the counties of the State: an
act to make Normal diplomas of Normal
Schools legal certificates to teach in the pub
lie schools of the State.
PASSED TO BE ENGRossED.
An act to incorporate the Beach Hill Brook
Dam Co.; an act to amend sec. l6, chap. As
Of the revised statutes relating to the en-
ployment OF children in cotton and wooden
an act to repeal section 25
chapter 2 of the revised statutes, relating
to the organization of the legislature
resolve .eclaratory of certain constitutional
amendments; an act to amend chap. SO of
the revised statutes relating to agricultural
as amended by the Senate an act
to incorporate the Bar Harbor Bridge Co.
bill an act to amend chap. l24 of the public
laws of 1873 entitled an act in aid of free |
high schools.
PASSED TO BE ENACTED
An act granting permission to John p. Per- !
ley. VIM. +. Perry and others. to locate and |
railroad rom Brdgton to some |
point on the line of the Portland & Ogdens- |
burg or Portland Rochester Railroads, not |
nearer Portland than the village of Saccarap- |
pa; an act for the protection of trout and |
and-locked salmon in Rangley, South Bog. |
Bemis, Cupsuptic and kennebago streams:
IN act to provide in part for the expenditures |
Of government; an act providing for the trial |
IF causes involving the rights of parties to |
hold public Offices; an act to prevent the OBJ |
'truction of business on certain public cor |
porations: an act additional to an act to in |
corporate the Bar Harbor Water Co. an act
10 provide for the uniforming of the enlisted
men of the Maine Volunteer Militia.
FINALLY PASSED.
Resolve relating to pilot laws and removal
II obstructlons from East river. New York. |
AFTERNOON SESSION.
The House resumed consideration of the
Dill to authorize the Treasurer of State 10
procure loan, under consideration when the
House adjourned.
MIR. SIMoNToS of Rockland. said the gen.
leman from Bangor Mr.. Hatch was Obliged
o be absent this afternoon. and he moved to
able the bill and assign it for Tuesday.
The motion was lost
Mr.. BRADsTREEr Of Bridyton. moved to
lmend the amendment so that the bonds shall
'ecome due in two, four and six years. and
dvocated his motion.
Mr.. You've of Brunswick opposed.
Mr.. SPROrJ of Vaux;a tnal- IL