Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1880-08-25
State Finances Again.

The North Star has the following In an
article on The Issues in Vermont 1.-THE
last legislature, fearing to impose upon the
people tax sufficient TO pay the current
running expenses, authorized the state treas
urer to borrow the additional sum Of $780,
600. Now, therefore, in order to pay this
amount of borrowed money, 1t will be neces-
sary to raise a tax Of SO cents" Well, now,
that's a whopperl The "old reliable"
North Star falling from grace in this fash
ionl Now, did the state treasurer borrow
s350,000, and tom il be necessary to raise
tax Of SO cents in order to pay this amount
By the treasurer's report for the year end
ing July 81, 1870, it appears that he Dor
rowed $4,000, and repaid it during the
year. During the year ending July 81,
1880, he borrowed $4,000, and repaid it as
soon as taxes enough were paid in, and the
| state does not owe dollar. Of borrowed
money; consequently it will not be nee
esssry to raise tax Of 30 cents or one
cent to pay this or any sum Of borrowed
money So the Star may go to its little
bed, unterrifed by the spook of that "tax
of 40 cents on the dollar Of the grand list
of 1880 and 1881 to pay this "loan " and
the "probable expenses for the next two
years." 1t may grieve Democratic hearts if
a tax of 80 or 35 cents for each Of the years
1880 and 1881 should prove ample for state
expenses, but they may have to come to it,
and possibly sorer things are in store for
them. "The Lord loveth whom he chasten-
eth"
Our excellent state auditor" in accord
ance with the requirements Of law, will
doubtless publish for the benefit of the
Argus, as well as the people at large, an
"itemized statement of the sources from
whence the state assets have been received,
| and the disbursements made from them
| during the year." Auditor Powell is an
obliging fellow and can be relied upon to do
the fair thing. There seems to have been
during the last two years, as well as pre-
viously, gap of few months between the
outgoing and the incoming taxes which
Treasurer Page has bridged over with short
temporary loans; and it is not at all improb-
able that the demands of the courts, our
public institutions, and legislative expenses,
may exhaust the 100000 available July
3lst, and compel the treasurer to anticipate
the payment of taxes not due till next June,
by another temporary loan for few months
The only unavailable assets held by the
treasurer July 3lst were S3,S57.74 in taxes
due, nearly all of which have since been
paid in. The savings bank taxes have since
been paid in, and the proportion due to
towns paid out again. The treasurer would
be only too glad to "apply the surplus as
sets to the extinguishment of liabilities il
he could fiud any one to "apply" them to. II
the Argus will inform Treasurer Page who
are the unknown holders of $4,000 in bonds
of 1876, and where the soldiers are to whom
the s9,43S24 is due, he will pay them as
fast as he can sign his name. Search fai
and wide has been made, but the claimants
lege fund is owned by the state. To pay il
would be shifting the money from one
pocket to the other, 30 to speak. The an
nual interest on this fund is all the state i.
" liable " to pay, and this, we presume, the
treasurer does pay with characteristic
promptness. As fast as the bashful holders
of s1,743.s0 in outstanding checks can b.
coaxed up to the public crib, they are paid
The state officers will doubtless make thing,
as pleasant for their afflicted Democratic
fellow citizens as possible, for they are ne
respecters Of politics in the discharge o.
their public duties.