The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1880-03-09
$1O9.8S4.6O
225,7l0.21
s25,ooo.oo
7s7,ooo.oo
236,5OO.OO
100000
56.67
Net debt March 3, $780,.
$3,465,64S.52

Net uept March 8, loSO........ 50, 400, 64S.52
The gross city debt has been reduced the
past year $81, 900 by the payment of that
amount of municipal bonds. The net debt
Will be decreased by amount added to the
sinking fund by appropriation, interest on in
vestments, &C.. at least $50, 900, and by amount
received from sale of city's interests in the
Portland & Rochester Railroad, 1926, 800
less amount paid and to be paid for premium
on investments.
The city has no floating debt and all current
bills of the year will be paid from current
means. $90,600 Of municipal bonds nature
during the year 1SSo-sl, to be paid from the
You see by this statement of our financial
condition that the net debt of our city has
been reduced $4,000, during the past year, by
adhering to the plan adopted for reducing its
volume.
This reduction shows that the debt, though
large, is not beyond our control. But our debt
is burden, and such a burden, that every
available means must be used to continue its
reduction in the future. 1t is for you, men,
bers of the City Council, to scrutinize every
application for expenditure which comes be-
fore you, and reduce our appropriations to the
lowest limit compatible with wise economy
You have no right to he here unless you are
willing to work faithfully and courageously
and trust that you will so adjust appropria-
tions, til at there shall be a large reduction of
our debt, and no increased of taxation. You
cannot ignore the fact that the state of our
finances limits us solely to works of necessity,
and no pertinacious solicitation should lead to
extravaganza.
Our problem is, to produce the best possible
results from small appropriations with econ
omy in outlay. We must not fail to bear in
mind that there is large proportion of our
population, who depend upon small income
for their support, and the source from which
it comes, subjects them to an oppressive tax
and restricts them to a curtailment of the
necessaries of life, while the members Of the
council are men in active business, and not
apt to realize tho OppreSSiveneSS of heavy tax
alton to large class of our inhabitants. Port
land, with an area of only about three square
miles, only one twelfth the size of an ordinary
town, pays one-seventh Of the State tax The
commission now in session for a more lust
valuation will unquestionably reduce the bur-
den OF State taxation, now borne by our city
The future outlook is encouraging. We are
partaklng OF the general prosperity, and our
citizens pay their taxes as promptly as ever,
and we are encouraged in making special
efforts to reduce our heavy debt.
The treasurer holds in his possession, as a
portion of the sinking fund, municipal bonds
to pay present indebtedness. I recommend
that you give authority to the committee on
the sinking fund to cancel these bonds, and
authorize the treasurer and auditor to charge
on the same as no longer a portion of the city
debt.
During the past five years the highest ex-
| pendlture on streets was in 1876, amounting
| to S96,741, and the lowest in 1878, 1855. O37.
We can hardly expect to do better than have
| late administrations, either in the amount ex-
| pended or in the Results, and can hardly expect
| to escape the censure and criticism which at
taches especially to this branch of CITY service.
| Exposure to the elements, and wear and tear
of over so miles of streets and 100 miles of
| sidewalk, 4ecessitate considerable work. I
hope that this department will receive special
attention. Complaint is made that the work
is not done in a profitable manner especially
that incompetent laborers are employed, and
that their work is not remuperative, and that
thereby the cost OF the work is increased. It
must be borne in mind that the city has not
only our city poor, but also large working
population, which without the employment
which the city furnishes, would be dependent.
| 1t is for you to direct, whether the committee
on streets shall hire only the most capable
| l&borers so as to save on street expenses. and
thereby Increase aims house appropriations
for outside aid. TIE humane aspect of the
case would seem to justify the established
| usage 1t is essential that a small percentage
at least of appropriations for streets should Be
devoted TO permanent work.
FIRE DEPARTMENT.
Our fro department makes an excellent ex.
hibit ia the work done during the past year
and of its present condition. This depart:
ment employs more active men than are en-.
gagged in any other branch of the city service