Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1880-02-10
THE GOVERNORS MESSAGE.
Gentlemen Of tie Senate and House Of Rep
FeseRt0tires:

Gentlemen Of tie Senate aud House Of Rep
FeseHtotires:
As we commence the active duties or the
session under the most extraordinary cir
cumstances, it Is well TO pause for mo-
ment to recognize that Beneficent Father
whose watchful providence ever controls
the dcstinies OF nations, and while we see
his hand In all the startling events of
States aud peoples, To remember also that
not sparrow falleth TO the ground with
ont his notice. In the duties now before
YOU, 1t is not in my power ut this time to
give YOU the information l could desire,
rot having received the Treasurer's report
for 1879 until last evening, or, with few
exceptions, any of the reports from the
DEPARTMENTS or institutions OF the State.
| therefore refer you 10 them for your care
full consideration when they shall be laid
before you.
OUR NATIONAL CONDITION..
The national condition, for the reason
that the financial affairs of the nation en-
tered largely into the discussion OF the last
two political campaigns, II Is proper to
briefly refer TO aud consider some OF the
leading facts that characterize the present
condition OF the whole country. The varl-
ety aud extent OF speculations Immediately
following the close OF the war were With
out parallel in our own history. Iaklng
three million men from their accustomed
avocations Of producing property, 10 re-
spond TO the demands OF war with US nee
essary destruction of property, len the
country much poorer than II otherwise
would have been. During the struggle the
Government purchased the peoples prod
uce at the highest prices. The close OF
the war stopped these purchases ana lett
the people dissatisfied with the old modes
of business and the low prices OF former
DAYS. aud drove them To speculations where
they sought To obtain and keep up the
nrices and profits of war times. This
course was largely induced by cheap ana
auctuating paper currcncy--ait CLASSES ran
recklesSly into debt. The crash Oh 1873
a halt. Great depression of
business Immediately followed IN nearly all
the States Bankruptcy prevailed 10 al
alarming extent; there was great lack OF
confidence among business men' All
sought to ascertain the cause OF the wide
spread depression. Many who had been
led by too sanguiuc hopes In the days OF
chcap currency TO contrac, debts which
they were unable 10 pay, blamed the Gov
eminent. AMI ~ a relief for their lni>ior-
tunes demanded a further i>>nc of the same
kind of currency, the wrong psc OF when
had brought their misfortunes upon them.
Men have honestly taken different views,
have honestly predicted different results
IL has not been, however, 80 much ques-
lion OF who was honest, A. OF who was
right Events have developed what vas
right and best for the people.
The great question OF the resumption oil
specie payments has been settled. one
wear ago In the minds Of many Il was an
cXnerlmcnt. today Il i al accomplished
fact. The effect has been 90 make the pa
per which promises 20 pay dollar equal
To the dollar in coin; the dollar OF the
laboriug man equal 10 the gold OF the cap
itahs. or the bond OF the boudholdcr IL
has DESTROYED Inc specGlalions In gold and
abolished the gold gambling offices which
existed 50 long a. there was difference in
value between the greenb1ck and gold. IL
has established national credit, aud most
of all has created confidence between man
and man. The result OF ali thlS h that
the accumulated capital OF the country has
been let loose al low rates nj Interest and
la, found employment. The wheels OF
industry are In motion; bankruptcy Is iast
disappearing from our midst; the great
army of tramps is going To work; stocks
Of all kinds ere advancing in value old
liabilities are being settled business Is
revlving and large numbers OF the trading
classes have left their uncertain employ
ment To join the producers; agriculture
the greatest source OF a nations wealth,
strength and happiness, has received
stimulus hitherto unknown; the surplus
from our golden harvests OF grain Is read
ilv exchanged for the real gold of Europe
ai prices that make glad the hearts ot our
farmers aud Ill our marts with abundance
of money. With an agriculture that ex-
ceeds that Of any other country. pastures
that from their surplus supply even Europe
with meat, manufactures that successfully
compe,, IN the markets al the world iuII-
Der enough for the demands or great
nation. quarrie> Of slate and stone sufficient
for all time. mines of coal and Iron mex
haustible in extent, deposits OF gold and
silver such Is never blessed a nation be-
fore. ana With vast and growing con-
merce. our people believe that We have
passed the crisis which was followed by
the hard times, and have entered upon an
era OF solid prosperity.
In 1860 government securities sold at
discount of from 10 II per cent, and in
February 1851 six per cent. government
bonds sold 10 an average discount Of l-2
per cent To-day the national credit Is
such that our four per cent. bonds are
among the best securities in the world. In
1865 the national debt, including the unas-
certained outstanding claims, was nearly
-. OOO, 0O0, 600; today IL varies but little
from So ,oOO, GOO, 600 In 1865 the annual
interest claim was $50, 900, 600; today il
il less than $50. 600. 600, while the annual
burden OF taxation has been reduced more
than $500, 0OO. 900. No nation In the worlds
history ever before paid its debts so rap
idly. and none ever sustained better rep
utation for honesty. We now have the
best currency the country has ever had,
the people feel safe with IL, business has
become adapted 70 IL, and il would seem
good Judgment 10 give the country rest
for the present from further disturbing
financial schemes or distracting discus
siOnS.
PUBLIC DEBI.
For a detailed statement or the condi-
ton of the treasury, / refer you to the
Treasurer's report. The report shows that
the receipts of the State treasury the past
wear, including sl57 ,256.20 on hand De
cember 81, 1873, were 81, $50, AHA, and
that the expenditures during the same pc
Rod were 81, 1916, 003.61, leaving q balance
in the treasury, December 81, 1879, Of s69-
4I3.47 On the first day of January, 1880,
as appears by the report, the bonded debt
OF the State amounted TO the sum Of Sa,-
SIS, 900; from which, deducting the pres
ent amount OF the sinking fund, 81, &c.,
1853, il leaves the debt at Si,6so, 74l. On