The Portland daily press., 1897-01-08

At the commencement of this new year
we have very much for which to be truly
thankful Our $eople have been and are
today signally blest with peace, plenty,
and general health and happiness. Dur
ing the past year the products of our
farms have been the most fruitful ever
known. The skies are already brighten
ing in our State and nation with the
promise of greater coming industrial pros
perity. The clouds of depression and dis
trust, that have to great extent injured
and paralyzed our industries, are, we
hope, fast melting away. and we even
now perceive evidences of the dawning OF
the day when we shall reap and enjoy
the beneficial effects resulting from the
recent verdict of the American people in
favor of sound currency, protection and
good government. Certainly we have
escaped all immediate danger of partial
reputation of our public and private in
debtedness and practical conf1scation of
the assets Of the Industrious and saving.
I have an abiding faith that with con-
fidence restored, prosperity and enter
prise will ere long once more return to
rule and bless our land.
Maine during the past four years has
had a steady, though not rapid growth,
and has been moving onward in the right
direction, building railroads, and develop
ing some of our vast resources, and be-
the immediate future has in store for US
much better and greater progress than
we have ever before realized or enjoyed.
Our young men have, very generally,
ceased to emigrate to the far West as
soon as they are old enough to commence
life for themselves. They are beginning
to learn and realize the important truth,
that at home are to be found more GER
tain inducements and advantages. with
much less of hardship, suffering and pri-
walton.
Our people have learned, in the stern
school of experience, to their sorrow and
cost, that a large part of the many mil
lions of money that have been sent west
ward to enrich and build up that section,
and to be invested in all sorts of wild and
visionary schemes, will never be returned
to them again; and they will no longer
permit themselves to be deluded and de-
ceiveG by SpeciouS pretenceS and false
promises rarely ever to be realized. We
may therefore reasonably hope that their
savings, hereafter, will be largely en-
ployed in more fully developing the re-
sources Of our own State.
1t is sad to contemplate what vast
strides we might have made in material
prosperity, wealth, and population, If the
large sums that have been sent abroad
and lost had bean kept at home and care
fully invested in legitimate enterprises
here. For there were, and are ample OPP
portunities to use this money in Maine.
Factories and mills might now be using
our magnificent water powers which are
running to waste.
To check this tendency, and to induce
our savings banks to invest more largely
in Maine the Legislature of 1898 enacted
a law-which action l cheerfully and
gladly upported,-proyiding for a lighter
tax on home investments thereafter made.
At the time of its passage L believed the
discrimination to be good policy-but too
Small. I am more firmly convinced of it
now then l was then.
The promise Of large interests or profits
is easily end often made by those who
can only repay either principal or interest
in case some deal or utopian scheme shall
succeed. and yet these fattering assur-
ances have too often found coniding in
dividuals and institutions who have been
induced to place faith in them
We can with confidence call the atten-
ton OF capital everywhere to the bright
prospects and many undeveloped re-
sources of our State and to the certainty
that all investors and investments will
not suffer from unfriendly legislation, and
will be fairly and equitably treated and
protected by equal, just and wise laws.
We point with just pride and gratifica-
ton to our State, to it's position, past and
present, in the councils of the nation. We
have a good soil, healthy and invigor-
rating climate an unrivaled seacos ST e~-