The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1885-01-09

/ trust the importance and necessity of better
and safer accommodations for the most valuable
property of the State will be duly considered
by this Legislature.
STATE FINANCES.
The adoption of the biennial system of legis-
lation seems to make a review of the finances
of the State for the past two years desirable in
this message, and it is accordingly given in
brief.
RECEIPTS AND EXPENDITURES.
The cash on hand January 1, 1888, was s474,7O4 50
The receipts during the year amounted
to 1,3s6,6s4 63
Total $l,s6l,3s9 Is
The expenditures during the year
amounted to sl,77s,7S4 96
1888, was s7,6O4 10
Total $I,s6l, $3.50 I5
The cash on hand January L. 1884, was $S7,604 10
The receipts during the year
amounted to 1,sO7,e4s IL
Total 81 ,s95, ,252 30
The expenditures during the year
amountedto to 1,2Oa,ss2 SO
1854, was 1888 Al
Total sl,8a5,252 80
LIABILITIES AND RESOURCES.
Liabilities.
Jan. l, 1884, Jan. l, 1885
Bonded debt, $5,3l6,9OO s5266,OO0
Trust fund, 1882 02 717,S5S %
Due school district No. 2,
Madison 1000 1000
Soldiers bounty scrip 500 500
Balance due on school
fund, rolls of accounts,
interest and warrants
uncalled for, SC. 4l9,95s SO 402, ,73O IL
County taxes collected l2,4OO SO 1l,sS6
se,46s,92l IS se,s9s, ,72O 20
Resources.
Jan. l, 1884. Jan. l, 1885.
Sinking fund $l7O9,392 % sl,S26,2OO
Uncollected taxes S96,5S7 25 S73, 3,139 IS
Cash in Treasury 97,6W 10 l92,319 Al
Balance, net indebtedness
of State 3,775,3SS 2l 3,50S,061 81
s646s,921 IS $1,000, 72O 20
The actual net Indebtedness of the State was
reduced during the year 1888, $lOS, S,334.37 ;
during the year 1884, 267,276.60.
Total for the two years, $375,6l0.99.
BONDED DEBT.
The total bonded debt of the State, less the
sinking fund,
January ], 1883, was sa,Ids.7IS
(" 1885, s" 3,439,S00
Showing the very creditable reduction of
$57I,207 for the year 1883, and $I67, ,70S for
year 1884. Total for the two years, $7SS,9l5,
PUBLIC INDEBTEDNESS.
The net reduction of Indebtedness of all the
counties of the State for the year ending
December 81, 1882, appears to have been $6l,-
4369l; for the year ending December 81.
1888, 1874, 4,9l8.97; total for the two years, $685.
357.S8; which is an average of $48, 1884 per
annum, or nearly one fourth of the entire in
debtedness of all the counties. The net reduc-
ton of Indebtedness of the cities towns and
IL
March, 1888, appears to have been 1896, ,655.S1 |;
for the year ending March, 1884, $428, 1856. .O5; ;
total for the two years, 1924, 1856, which is
an average of $412,O11.93 per annum, or about
one twenty third of the entire municipal in
debRdness Of the State. The State indebted
ness was reduced during the two years, 1882
and 1888, $574,S12.41, which is an average of
$287, ,406.20 per annum, or about one twelfth
of the entire State Indebtedness.
These statements show that the people of
Maine have been reducing State, county and
municipal Indebtedness at the rate of $747,-
597.07 per annum, which is about eight
eenth of the entire public debt and at the
same time have been increasing the taxable
valuation of their estates at the rate of 81, ,453-
66S per annum, while the population has been
increasing at the rate of 1908 per annum.
This statement indicates thrift and substantial
progress, ana is very encouraging.
SAVINGS BANKS.
The full and accurate report of our efficient
bank examiner gives very hattering exhibit
of the condition of our savings banks. There
is, perhaps, no better evidence of the prosperity
of our State, than the constant growth of de-
posts made therein for the past twenty five
years. In 1860 the deposits were 1866, 457.-
Sc. In 1879 the deposits amounted to $23.-
s1o ~, II 8 ~,
the aggregate was $32, 3.SS5.1O which shows
in twentyf five years gain in deposits of
$31, 900; in five years an increase of nearly
$4,000, 900, and further comparison shows an
increase of S., ,409, ,945.45 over the total deposits
of two years ago. The number of banks is
fifty -four. The present number of depositors
having open accounts is l05,6S0, or about one
sixth of our entire population The average
amount to each depositor is $31l.44 which is
conclusive evidence that this vast loan fund is
the accumulation of the increasing earnings of
our industrial classes of moderate means. The
laws have wisely provided that all investments
should be made in securities of the highest
character and although this direction may not
secure the highest rate of interest, it is neces-
sary for safety. The banks, however, are able
to pay to the depositors four per centum, and
hold reserve fund for the protection of deposl-
tors against possible losses, of $1,1OO,0OO,
The careful management and sound condition
of the affairs Of the savings banks are assured
by the value of their assets, representing more
than $4,000000 in excess of their actual habili-
ties; this is an accumulated profit of II per
centum, and belongs to the depositors when
divided. The aggregate dividends paid to the
deposltors the past year was $l,284, ,444.80
and the State has received, for taxes upon de-
posts as part of our school fund, $19l, ,Sl7.-
Ga larger revenue than it ever before re-
ceived in single year from that source. The
savings banks of Maine was never more worthy
Of the confidence of the public than at the
present time. A system which shows such re-
suits is great success, and measures the thrift
and economy of our people. The Legislature
which, in measure, is the guardian of the
property of the people, should continue to ex-
ercse great care that these institutions are pro-
tected by wise and careful Legislation, but foI
the present there seems to be no necessi fol
any change of law.
MILITARY.
The experience of the past year in several
| States of this Union, demonstrates that large
| populations are subject to internal disorders
| and riots beyond the control of civil authority
| The action Of the general government in pro-
hibiting the assistance of national troops in the
several States, as posse comitatts, to suppress
riots and secure obedience to local law, renders
it imperative upon the State to provide effectua
means to protect the lives and property of iti
citizens from internal violence. Two regiments
of the State militia, of eight companies each
one unattached company and one four gun
battery of light artillery of two platoons, To-
Gated at Lewiston and Brunswick, numbering
in all 1912 officers and men as against 963 in
1888, are fully armed and equipped, ant
constitute brigade under the command o
| Gen. John Marshall Brown, an officer of great
1 merit. There are also five uniformed compa-
nies of reserve militia, well organized anC
equipped, numbering 247 officers and men
l The last enrolment of our State militia nun.
: bered 1882 men. The entire militia of tn
State constitutes a. division and is under tn,
command of Mai Gen. Joshua L. Chamberlain