Daily Kennebec journal., 1901-11-08
DEBT TO NATION.
Maine Owes Government NearIv
One Million Dollars,
This Is on Acc0untof the Surplus Re-
ceived in 1887.
States Share Divided Among the Towns and
Distributed to People. .. I

h.4
stat" owes the national government the
stupendous sum of $685., S3S % And vet
according !" the record, this statement
Il IN ahsolut" fact How II happened
thtt the stat" "t Maine became indebt-
cd To the United states IN this amount
is explained by Hon. Henry :. RouteIl
! member of Congress from Illinois in
;;n alticlc published in the October
! number Of The Forum
Many Of the Older residents OF tba
| State remember how. in 1891. the sur
! rli;S in the United States treasury. on
account "f the Increased income from
! the tariff and III" sale Of public Lands
bad reached the amount of $i9 t6S.
| 1881 The government mt that tim.
| concluded that surplus Of s., 900 900
was sufficient for An public needs. ana
! that the balance should be Withdrawn
! from the banks and deposited with the
~ states then constituting the rnion.
! Ihrre had been many dcfalcaticns ana
shortages I'm the banks holding tie gov
"rnm"nt deposits and 1t WAS thought
that th" money would be much safer
II placed ~ thc treasures of the Nari-
Gus states than If 1t remained IN the
vaults Of the banks.
aIany propositions were discussed
looking to the disposition of the sur
plus. and finally II was determined hv
act "f Congress, approved June ". IEad
t" deposit thc sam. Win thr trca~nr,.r.-
OF the different states. to he repaid To-
the n"tional government on drllaud
This act provided that the balance in
IN Treasury on Jan 4 I>.-. aft,r WAL
N"lNinI S.,,"nH,nno should he deposited
l'r" rata. according to their representa-
tl"h in Congress. With thusr states
which should by law uuthoriZc their
treasures ~ receive the deposits ana
give 4 receipt therefor pl.dgin@ thr
faith If tn" state to repay tn. same a
any tim" upon the demand of tn, Seq
retary of the treasury TheS, deposits
We're t. ~ paii In four inStulmtnts. un
the first day Of january. April July
and October 1A;-
bn Jan. l. l>%.. thu balance in the
national treasury. over and above tin.
.~'p reserve. WaS $37. i6> N5a.a7 This
sum was deposited with th,- states. All
th. - states accepted the deposits un-
d"i the conditions above stated. and
the first three installm"nts We're raid
in full. The money paid "ut jill thr
thre" mstallmtnts amounted t. $->.-
l"l, fii.al. OF which the State of Main,
.rh, ,,.;,i,i,..,,...t
l.,,,.. s,,,,, ,r ,,,,,., r.,, Till, ,.,
banks that wrr" the repositories of the
public funds. helped t" bring IN 4
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