Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-01-17
MAINE FINANCES.
Annual Report Of State Treas
urer F. M. Simpson.
How the Bonded Indebtedness is
Gradually Decreasing.
Report Shows Healthy Financial Condition For
Pine Tree State.

The annual report of State Treasurer
+. NJ. Simpson affords a most salts
factory knowledge of the financial con-
dition of Maine. The report is for the
fiscal year ending December 81, 1900,
and in part is as follows:
Treasurers Office,
Augusta, January l, 1901.
To His F,xcellency, Hon. Llewellyn
Powers, Governor, and the Honora-
BILE Executive Council:
Gentlemen:-I herewith present my
annual report, as required by the
statutes of the State. giving in detail
an account of the receipts and eX-
penditures and the financial transac-
TONS Of this department for the fiscal
year ending December 81. 1900.
BONDED DEBT.
on the first day of January, 1895,
the bonded indebtedness of the State
was s.. 430. 10000. and at the present
time it is s.. lO3, 10000. which shows a
reduction of 5000. 10000 in the past SIX
years. During that period, the sum OF
$430, $4,000 has been paid in interest on
this debt. making the aggregate sum
Of $780, 1000 paid as interest ana
toward the liquidation of the bonded
indebtedness Of the State during my
administration of the affairs of this
department. The remainder Of the
debt natures as follows:
$50,000.00 in the year 1901.
S70.O0OOO annually, 1902 TO 1911, both
inclusive.
$7S,OoO.OO annually, 1912 to 1921, both
inclusive.
IN ll1- 70
inclusive.
TEMPORARY LOANS.
January l. 1900. a temporary loan OF
5000 10000. and a temporary war loan
of $3.50 100000, as shown by my report
for year 1899, We're outstanding. VI
the former loan. $780, 100000 fell due
March ,. 1900 and the balance, 500.
10000 falls due the present year. OF
the war loan, 800, 10000 became due
January %, 1900. and the balance, So0,-
10000 falls due October 10, 1901. The
loans falling due the past year We're
paid at maturity, but the receipts OF
the treasury not being sufficient to
meet them and the current expenses
of the State, further temporary loans
TO the amount of $200.000.0O were
negotiated, 500, 100000 of which was pro-
cured January %, 1900, and 500, 100000
March ,, 1900, and the funds We're used
to meet the payment of said loans fall
ing due on those dates. Therefore,
the temporary loans now outstanding
are as follows:
Two temporary loans have been
placed, one with the Augusta Savings
bank placed, May u, 1899, maturing
Feb. -. 1901, rate per cent, the
amount being 100000. The other loan
is placed with the Belfast Savings
bank. placed March g 1900, maturing
March ?. 1901, rate per cent, the
amount being 100000. Total amount
5000. 900
temporary war loan was placed
with the Augusta Savings bank. Oct
10. 1899. maturing Oct. 10, 1901, rate
q per cent. the amount being S3O.OOO
A temporary war loan was also placed
with the treasurer of Massachusetts
Jan. %. 1900, maturing Jan. %. 1901
rate 3 $40 per cent. the amount being
100000. Total 100000.
The total amount of loans outstand
ing Jan. l, 1901. are s350,000.
REVENUE AND TAXATION.
The aggregate receipts of this de
December 81, 1900, We're $2,0l4, .SS
which amount increased by $l99, 522 II
cash in the treasury on the first day o
January 1900, shows the available
cash for the past year to have beer
$2,213 j30.0i and the amount of dis
bursements for all purposes was 81,
Of ,6jl 90, leaving q cash balance or
hand at the close of the year of $685.,
X7901. which amount is $64315 less thar
the cash balance on hand at the CLOSE
of the year 1899.
The actual net disbursements for the
years 1899 and 1900 We're $3,I4S, O36.5 80
and the receipts, 1882, 1916, which
shows that the expenditures exceeded
the receipts in the past two years by
$155. S44.72.
The rate of taxation for the years
1889 and 1900 was two and three
fourths mills on the dollar, yielding 6
total revenue from this source for tn.
two years of 81 sis. 90l.96.
All taxes assessed against cities
towns and organized plantations fol-
the year 1899 have been paid in full
For your information, | presen
herewith n table showing the amour
of receipts and expenditures of thi.
department and the amount one ha
exceeded the other for each year since
1884 to the present time, as follows:
EXpen
ditures il