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

Bill an act additional for the management
of the Maine Insane Hospital vas taken up
and read the third time.
Mr.. EaroS of Wilton moved 10 amend 50
tina; the appointment Of awoman on the board
Of trustees shall NOT take place until the ex-
pira.ion Of the term of a member. and adso-
Gated his motion.
Mr. BrTLER Of vassalboro' opposed the
amendment, which was rejected.
Mr. EATON offered other amendments
which were adopted
Mr.. DIcKEY Of Fl. Kent moved to amend
50 to have two women on the board
Adopted BY a vote Of 81 10 46.
The same gentleman then moved TO amend
that one Of the physicians Of fhe institution
shall be Z woman.
Mr.. BrrLEk opposed.
The amendment was adopted.
Mr.. Butler then moved to indefinitely
postpone the bill as il had been SO loaded
down with amendments.
Nessrs. Hale Of Ellsworth. Young of
Brunswick, Hutchinson Of Lewiston and
Brad.treet of Brijgton, favored the motion
for the same reason, and Nessr-. Dickey Of
f. Kent and PIaisted Of Lincoln opposed.
The motion TO indefinitely postpone pre-
vailed.
Mr.. Youso Of Brunswick moved 10 recon-
>ider. and Mr.. DIckEY moved TO lay the mat
ter on the table, which was lost.
The House then refused TO reconsider.
Mr., HaTcH of Bangor, called up bill an
art 10 authorize the Treasurer Of State 10
procure n loan of s301 900 which was read
the third time.
Mr. HarcH Of Bangor:
|. Mr. Speaker Il regret exceedingly the ac-
tion Of the Finance Committee in relation to
the payment of the public debt due Aug.
18th. The bill before the House provides for
the payment of that debt BY the issuing of
renewal bonds, payable in eleven. twelve and
thirteen years. The plan suggested by the
Governor in his message in relation to the
payment of that debt was to- issue bonds on
one tw o and three years, the bonds payable
in one year to be provided for By taxation the
present year IL seems to me that the rec
concentrations Of the Governor in that regard
are wise and in the interest of the State.
In my judgment the true policy of the
State is to meet its obligations as they ma
turc BY taxation, whenever it can he dore
without imposing too heavy burden in any
one wear upon the taxpayers OF the State.
The payment Of the debt due the 18th of
Aug. in the manner advised by the Governor
would require but slight increase in the rate
Of taxation for the next three years.
The policy of the State for years past has
been to meet by taxation its Indebtedness $
it fell due q policy that has not only
strengthened the credit of the State but re-
duced the large item of interest that the
State is annually called upon TO pay. From
1865 to 1875 the State not only paid its per-
mancnt debt as it fell due. but raised annual
" by taxation over 5000, 900 towards the pay
ment of its obligations that had not matured;
the last half of those years were years when
the business interests of the State were very
much depressed. The depression upon the
industries of the State is fast disappearing
and we are entering upon years Of prosper
ity. The taxpayers of the State, in my judy
ment, will he better prepared to meet the
next three years the small debt due the pres
ent wear. than they will be at the date when
the bonds proposed by this bill mature
II the bonds of the State are issued rs pro-
vidcd in this bill when they mature the
State will have paid over sl20.0o0, for in
tcrest on the same and the debt remains.
The debt under consideration was created to
raise funds for the payment of bounties to
soldiers in the war for the union
All our State Indebtedness is on account
of that war. When the State issued its war
bonds it was understood BY the tax payers
of the State, as well as by the purchasers of
the loans, that their payment at maturity
should be provided for without recourse to
renewal bonds, and to that end sinking
fund was established. The first installment
of war debt of this State is due Aug. 18th.
Let us carry out the intention and promise of
these patriotic men, then in authority to the
end that the good old State of Maine may be
in financial condition, should the emer-
gency again arise, to do her part in maintain
ing the union of the States
Co. th.,, Of . 10 I,,n
1850, the next payment by the State. on ac-
count of bonds issued will he in 1888, and
next following in 1889. The intervening
years between 1883 and 1889 the State will
not have to raise one dollar on account of
the public debt, except as provided by the
sinking fund of 1858 under such favorable
condition of affairs it seems To me folly to re-
new on eleven years and upwards the small
debt due in August next.
If the objection to the payment of the debt
due in 1850, by issuing bonds on one, two
and three years, lays in the fact that $780,
600 of said issue must be included in the
State tax assessed for 1850. | will suggest
plan by which one-third of the debt dne in
August next can be met without recourse to
new bonds or an increase of the State tax for
1880.
presume the House is aware that
w att aTptoNtu Ttu. -. lNtD- tue
sinking fund of 1865 was abolished
and the State Treasurer directed to transfer
all L. :. Bonds belonging to said fund to the
sinking fund of ls6s. Under that act the
State Treasurer in 1876. transferred to the
sinking fund of 1868. 500. 600 oft. s. bonds.
The funds thus transferred were raised in
part. for the payment of the war debt due
in 1850, and it would be but just to the tax
PAYERS of the State that i; should he so ap-
piled. BY appropriating the Sl00, 900 depos-
tied with the fund of ls6S, and issuing bonds
on two and three years for the balance of the
debt, the whole debt would be cancelled with
out recourse to long bonds. and with but
a slight increase of taxation for the years
lSSl-2. When we consider that no part of
the public debt is due in lSSl-24-5-6-7 & :.
it seems strange that the legislature should
not provide for the small indebtedness of
the State due in 1850 4 1888 by taxation and
temporary loans.
Renew this debt by issuing long bonds and
you invite through the legislature calls for
in aid of individuals and of
institutions that have no legal claim upon the
State. Pay the debt as proposed by the
Governor, and these extraordinary calls for
would rot be made or If made
would not receive the sanction of the legisla-
ture. In INV Judgment the people of the
State will not have to pay into the State
Treasury one dollar more tax in consequence
of the payment of this debt by taxation and
loan than fhax w,il ,F he Jah. =