Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1889-03-15

70 axe ILent AklnG them NEenfrer n
State ia ready 70 deliver them, dated o.
dates even with the maturity Of the old skies
but, Mr.. President, there Ia strife amonzs
them ~ to which one will pay the hiahss
premium upon these bonds that are tainted
think these bankers may know as much abou
bonds ~ We lawyers do.
Nov ~ to the premium on these bonds,
cannot understaod my brothers positions
In one part Of my brothers argument yo'
cannot sell them, and in another part Of tn
argument he challenges Us to use this prsfni
um that We are going 10 receive from thes'
tainted bonds It you'd BE- hard to cell I
tainted bond for = premium Bot the pre-
MUM is there and the Senator need have NJ
trouble about that. In fact, don't think i
troubles the Senator very much az heart.
He says it has been asserted that the pre-
MUM might be used to pay the cost Of en
larging this State house. have heard ,uct
. saggsstionj but will some gentleman
tell me what difference it makes
whether you charge the building Of hi,
State House 10 your current expense account
or 10 the debt account What diferen 20
does it maker deny his proposition thai
the State has no power TO take that premium
and use il az il sees TT. I b. lieye his propo-
sition j. that ii rouh be bold man who
will DO that thing. Well, Mr.. President.
would like to tell the 5eBsts Of a man who
has done IL In the administration u the affair,
Of this State. Hs entered this State House
forty-hys years ago. He vas here, think
for forty years. and under bis administration
there never criticism from a single
member Of those legislatures. Five of those
years be administered the AFFAIRS Of the
treasury office the full length Of time that
the constitution could permit H. and We
would have given him ten could have
done 80. think re would have given him
a life term If We could have done 10. He
administered the affairs Of that office. aad
that man took the premium Of every loan
that vent through that office and covered it
into the treasury, and the governor ADD com.
ell that sat during those administrations Dire y
warrants against IL for forty ears Eheneyer
bond. were sold that was the practice Of the
Stat. and | never heard any man say that
quiet. MODEST. honest William Cald veil was
bold man Such ha. been the policy and
practice Of this State all along the line Of
State neasurers and governors and yet In
the closing hours Of tins debate
when that beautiful building i. fad
ing from the panorama on Bramhall
hill il is charged that the policy of The state
for forty years has been bold ani uncon-
-titutional.
SO far, Mr. President. a. to the power 81
the STATE Of Maine ! disagree with the sen
ator from Cumberland We have right To
issue a now three 10 take the place Of the
old sizes. # any banker come. here and
says. II will give you a premium will pay
you a bonus for the privilege Of getting your
threes. submit that asa matter of law We
have a perfect right u take that premium
and put ii into the treasury and draw agair st
it for the general purpose. of the state
There will be premium not lover than
sl25, 600 and no man knows how much high
er II may he until hereafter. when the BIZ.
are opened That st25 900 If the practice
of the Stat. be worth anything. il the appH.
cation Of the material principle. If common
sense to law be worth anything AMI cnurt.
sometimes 10 apply even such A rule Al.
that believe the State can 10 il with eaual
safety II such be the law submit that
this administration has the riRbt if il see. tit
to cover that premium into the State treas
ury and 10 draw against il for TIN. or any
other appropriation.
Whether Il be good fiscal policy or not /.
an entirely different PROPOSITION. There i.
money enough without il. There il. more
| IL
Governor Of thu. STATE and the STATE Treas
urcr Ia determine what they will do with II
for n. il We see iii. But the main re-
.ponsiblity of the management of the
treasury after we have made our aDpropria
ton i. upon them aud not npon M. ( agree
with the senator that i. not yood a.cal nolicv
to use that premium to draw against for eur.
rent erpenses for thi. reason that If Won lo
debt YOU are practically having 3 per cent
interest on the premium from one
to forty wears according a. II mav
fall in the classification of tn, difrr
en-, bonds But after all Mr. presiIsnt
what difference docs il MAKE whether Won
take the sI25 900 premium and npnlv ii IN
the old bonds making your debt go much lea.
or whether YOU cover II into tho treasury and
draw against it for current expen.psy
What difference does il MAKE into
which pocket Won nut it so long a.
YOU have got to take il OUT Il il A
mere matter of book k.eping. isntit2 /, ia
going into the treasury. Now will Won take
il out 10 paw some of your old debit. or 10 nav
one of these appropriations7 Thcv all come
out on warrants. Can any senator see what
difference IL makps2 Nnt the sli,,htast o.
cent this that if the Governor Jecide. that
he will not use il Ia reIuce IN. ,lpbt hrt la,
il nav current expenses. of course il i. nrsc-
ticaily paving interes, for from one tn forty
wears ON the money so n.ed II assure,iI,
would be- poor business policy. But af,,.r
all. outside of the question of Interest," th.t
would accumulate tpon IL il mora mat
ter of how ynu will kecn vour bnok.
Now believe hav. cav.
cred nil the technical nbie,,ior. ,,i.,d
I e.pected that mi. oucsii,n would he
argued upon its general merits I IA no,
expect that the Senator from CnmbarlanJ
would advance claims that Portland h,J no,
been treated CONSIDERABLY Mt tb, hand. of
tbi. legislature. W. heard their n.tit;,n
W, heard their case go y,ve ver1ict
against them. IL it good logir tbsteverv
party who comes ont of court with m al
verse veriic, has not been treated ronsidsr-
ately at tho hand. of the jurvg Nv hroth.r
and have been wbinncA in eour, TOO ,,anv
times In Law that I,vn "a tho .rla a,
courtesy hs,wsen bt,,a,ts .rd c,,,r,. W.
hoard tho great case Of pnr,,anJ 90 rh'
people A ;ndgmcrt v.s ronJnr,I for ,ha
defendant and / .ubmi, that tL, al .t,rv =,
Jndye Iu,tip, ia eyc.sJ,n,,Iv a,,,,l;oati,,
II. .aid ,b,t evarx ta.,nr la -,
Won will all na,lon ,r, Ga, ~, rr,f,,i,,' b.,
nuotation, ru.t n, acc,,r,,a ~,
lawyer had , right far tren,y.f,nr h,,,s =,
damn tho court and iury AMI St. ,ha, ~,
must fnreyer hold hi. nesce s.;I NJ
President in ali Tho hi.,,.r a. ~ -,
from il. remarksbl. he,inrin, ,hrnn,,h l..
rcmarkabl, hearings IN And ~ renen,hor