The Portland daily press., 1891-01-09

officials. 1t is to be hoped that you will be
able to bring large amount of it within
reach If the taxing power
Another reason for the difference between
the State and Federal valuations, is found in
the practice. which exists in some parts of
the State, Of assessing taxes upon partial
property valuation. The report of the Tax
Commission shows that during the year
just closed, In making returns for the use of
the State Valuation Commissioners, 1893
towns In Maine returned their property at
less than the lust value thereof" required
by the Constitution of the State. In some
instances assessors felt that they had fulfilled
the requirements Of their office when they
had assessed the property of the town at
one-third of It's "cash value" 1t is apparent
to all that the establishment of the lowest
practicable rate of taxation is impossible
while such methods are in vogue. To secure
1t, the valuation of property must be uniform
throughout the State and such uniformity
can be secured only by rendering it impera-
tive upon assessors, under severe penalties,
to return all property at its full value.
REFUNDING THE PUBLIC DEBT.
In 1889 occurred one Of the most remarka- |
BILE financial transactions in the history Of |
| the State. the results of which we're directly |
felt BY every lax pay er In Maine. BY virtue |
of t7e Act of March IS, 1889, providing for |
| refunding the public DEBT, the Treasurer of |
SAFE. immediately thereafter, taking advan- |
| tase OF the condition OF the money mark ct at |
thattime. issued proposals for the sale Of |
three per cent. bonds to renew the six |
per cent, bonds falling due on the first |
davs of June and October OF that year. |
| 81 &c, 900 of the bonds bearing date June /, |
1889, aud sos, 900 dated October l, 1889. were |
sold, the former yielding a premium OF 1O3A |
| and the latter 103, or total on Dotn loans OF |
| $79.9OO which sum was applied directly to |
the Iaymtnt Of the public debt, reducing, to |
| that extent, the total amount of the new
| bonds ISSUE
The prompt and successful manner in |
| which the matter was conducted by tie |
| Treasurer reflects great credit upon that off |
Ger and must be a source Of pride and salts |
| faction to every citizen OF the State. Had |
| the initiatory steps in this transaction been |
/ delayed until near the time Of the maturity |
| of the old bonds, no sucn favorable negOtia- |
ton could nave been made, and it is alto |
| getner probable that the new bonds could |
not have been sold at par.
| TAXATION.
| For number of years the opinion has pre- |
| vailed that the tax laws of the State are not /
| equitable in their operation; that there IS |
altogether too great discrepancy between |
| the portions Of the public burdens borne by |
real ana personal property:
| Under resolve of the last legislature, a |
/ commission was appointed IT. inquire into |
| the system adopted by other States to raise |
| revenue for state, county aud municipal ex- |
| penses. and to provide for more equal, just |
| aud equitable system of taxation of all kinds |
| of property in this State"
| That commission has faithfully attended |
4
| ton Of taxation has been closely tudIed |
| Other Sta'es have been visited and their tax /
| laws carefully examined to ascertain in what |
respects, II any, they are superior to our
own. The able and exhaustive report Of the
commission Will be LAID beiOrt you. COM |
mend 1t to your careful consideration.
1t has been quite common experience,
among the various States of the Union, that |
movements for tax reform have been ex-
| ceedingl yslow in arriving at definite results.
| One legislature, despairiDg OF reaching
satisfactory solution of these perplexing
| problems, has passed them over to its sue
| cessor, aud thus the desired relief has, often-
| times, been long postponed. With you there
| will be no occasion for such course. The
report Of this special commission furnishes
| you at the start with the groundwork for
legislation of this character.
IL will be your duty tU examine into the |
whole system of taxation, to Ascertain what
new sources OF revenue are available, AID
whether any class OF property Is tearing less |
than its fair share of the public burdens. and
If so, to apply whatever remedy may, In
your Judgment, appear best. The impor-
lance Of this matter would seem to require |
its careful consideration by special COM
mittee Of the legislature.
STATE ASSESSORS.
heartily concur with the recommends
ton of the Tax Commits sion for the appoint
ment of State Bard of Assessors, whose |
duty 1t shall be to exercise a central super |
vision over our tax system, and ITO equal
lie the valuation Of the State bieDni- |
ally in order that the taxes voted by each
legislature, shall De assessed upon new
yaluat. on
A decade il altogether too long time to
elapse between valuations Ten years bring |
vast changes in the creation and distribu- |
ton OF wealth In State which is growing
even more rapidly industrially than in the
number of its inhabitants A valuation in |
all respects equitable at the beginning of
decade might, in many ways, work gross in
justice at its close Only by frequent adj
IN n QQn not al ha 1
done to all. / am Of the opinion that this
commission should be chosen by the Legis-
lature, in which alone is vested the consti-
tutional right of levying taxes. At the same
OF Assessors should be, so far as possible, |
non-partisan and nOn-sectional / am con-
WINGED that the work of such Board would
result In large annual saving to the State
and do much to secure just distribution of
the public burdens.
DIRECT TAX BILL.
Under the Act Of Congress approved
Augusta 5, 1861. known as the Direct Tax Act, |
| Maine paid to the general government the
sum of $685., 702 A bill was passed by the |
United States Senate during the last session
of Congress autho rizing the refunding, to
the several states, of the money thus paid
the general government, and the same is now |
pending before the House of Representa-
| tiveS.
1t would be very advantageous to the State
| If this bill should become law, and it is to |
| be earnestly hoped 1t will be given passage.
HON. sILAs C. HATCH.
On the twenty-seventh day of July last,
Hon. Sias @. Hatch, Executive Councillor
| from the Sixth District, died at his home in
| Bangor. He was an able man, possessed of |
| high minded integrity ana devotion to prin-
| ciple He served the State as its Treasurer
and in the Executive Council and Legisla-
| ture for period of sixteen years. No man
| had clearer insight into its affairs than he.
| Maine may well hold in hOnored remem-
hrance the record of his distinguished ser.
| vices.
SAVINGS BANKS.
The savings banks of the state will be
| shown by the able and interesting report of |
| the Bank Examiner to be in a prosperous |
| condition. The total deposits now amount to
SAT. 7Sl, 166 90 This Is an increase of $780,
| 0S1.81 over the amount at the close of the |
| year 1889. The total number of dep0stors is |
| 140.521, gain from last year Of $500. The |
| til amount OF state tax paid In 1890 was |
1928. .9S, an increase of S27 8.38 over 1882
| the total amount of municipal taxes paid in |
| 1890 was S13 Bib The Bank Examiner |
| fluids that, as a rule, wise and conservative |
/ policy prevails in the management of our l
| savings banks. Owing to the condition OF |
| the market that has prevailed during the |
| past few years the temptation has been very |
| strong to secure greater returns at the risk |
| of safety. This temptation cannot be too |
| strongly guarded against No part of the |
securities of our savings banks should be If |
/ an uncertain or speculative character. The |
deposits iDtrusted to these banks represent |
the accumulations that have grown out Of |
| the industry and enterprise of the state. and |
should be watched over with jealous care.
AGRICULTURE.
Agriculture is Names foremost material
| interest. Upwu-ds OF eighty thousand of our
| cit'z-ns are actively engaged in its pursuits.
| Whatever can be done, therefore, to further
promote this important industry of the state
will contributs directly to the general pros
perity Of our citizens. During the past de-
cade substantial advance has been MADE by
our farmers in the use Of labor-saving ma
chinery, and in the adoption of improved and
scientific methods of cultivation. The graft
flying growth Of manufacturing centres in
Maine, during the past few years, aud the
strong reason we have to hope for still fur
thtr Development Of this character. are full
of announcement to our agricultural inter-
ests. With an enlarging market for home
products there Is reason to believe that the
pursuits OF husbandry may become more re-
munrrative to the large number of our citi-
zens engaged in them. An important factor
in the advancement Of agriculture has been
the Grange, with nearly 1900 members. Its
| discussion and interchange of views have