The Portland daily press., 1880-09-02

At a great mass meeting at Phillips on Sat
urday, addressed by Senator Blaine and Gov.
Davis. the Governor said in reference to the
State debt:
Fellow citizens:-The credit of your State
never stood better than 1t does to-day, When
the Legislature assembled in January, felt il
my duty to urge the early paymnnt of that
part of your bonded debt amounting to S3O7-
900 drawing 6 per cent. that matured the fiji
teenth day of this month.
"A bill was introduced in the Legislature and
became a law providing for the refundng of
this part OF the debt by the issue of bonds at 4
per cent. interest, payable within six wears to
the amount of $4,000 annually, except the
last year, where provision is made for the paw
ment OF S51, ,oOO. few days ago those bonds
were offered for sale, and so high is the credit
OF the State that Notwithstanding the short
time they run, they sold at premium of 80
100 per cent, thus saving to the State in in
terest nearly $20,000
But as $4,000 of this debt m 1st be maid ont
OF the assessments Of this year, an increase in
the rate OF taxation was required. And this
brings me to the charges made against the
present administration that the State Govern
ment is more expensive than last year. Let
messtate the case. -
On December 31st, 1877, the amount of cash
on hand in the State Treasury was $3.50, ,532 80.
Ihere was no temporary loan at that time to be
provided for.
During the year 1877, without any special
appropriation for the purpose, the State Treas
urer paid of the bonded debt Of the State that
matured that year. $500. On December 3lst,
1878, there was a temporary loan of $15O,0OO
due. The temporary loan has been provided
for during many years, and is resorted to only
for short time when the taxes do not come
In fast enough to meet current expenses.
There was cash in the Treasury at this date
$157, ,256.20; deducting the temporary loan then
due, left the actual amount of cash outside the
temporary loan at 50 ,256.20: during the year
1873 there was paid Of the State debt $4,000,
On Dec. 3lst, 1879, when Treasurer White
closed the yeaS, the account stood as follows:
cash in the Treasury, $69,413.47; deducting the
amount OF cash from that of the temporary
loan left the Treasury actually in debt $780,
6S6.5S, the first time in my recollection that
our State Treasury has come out at the end of
the year in debt.
During the year 1879 the Fusion Govern
ment paid not one dollar of the bonded debt of
the State, nor was there any Free High School
law In operation only for payment Of what
might have been due. the towns when the
law was suspended, but on the other hand,
there was received into the State Treasury all
the tax on the Maine Central Railroad that
had accrued during four years while the rail-
road was contesting in the courts. The suit
was decided in favor of the State in time for
the Fusion government to get the benefit Of
the four years tax, the whole of which on all
the roads amounted with the interest to $78,-
540.6S. - =: =
But nstwithsssndine Shis, the Treasury ran
behind $h5. .5S6. .53 6exore sea.essA, 80
urer " hue closes ms fep0it u ~
1T is very evident that under the existing
rate OF expenditures, the State tax must be
increased, but at what rate cannot be ascer-
tanned until the new valuation is complete, as
upon that valuation the State tax for 1880 will
be assessed"
In this recommendation to increase the rate
OF taxation Treasurer White only considered
the ordinary expenses of the State. He did
not put in his estimate anything for the debt
which the present Legislature has voted to
pay out OF this years assessments He made
no estimate for the State prison debt that
should have been paid in 1879, none for the
expense of taking the deceAnial valuation.
The reason then for increasing the rate of tax
alton from 4 to mills was to meet the defici-
eacy OF $55, 1858 with which the Treasury
came to US burdened; to provide for the pay
ment Of S26,000 State prison debt; $4,000
bonded debt; S12,00 for expense of taking the
valuation; $4,000 for clothing the soldiers who
had been too long neglected, and in addition to
all to provide for the unparalleled expense
which Fusion forced upon the taxpayers of
Maine in its efforts to override the will Of the
people. = :