Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-01-17
The State Trcasurcr's Report.

|
csting reading for the people of our
state, and is one which will well re-
pay careful study II shows that dur
ing his term Of Office the bonded debt
Of Maine has been reduced S3Oo'ooo'
which. together with s4SO,14O which has
been paid on the interest account our
! ing the same period, makes an aGSre-
gate of $13014o that has been paid IN
interest and towards the liquidation
of the bonded indebtedness of Maine
| during the time that Mr.. Simpson has
| been in charge of it's financial anairS
| This feature of the treasurer's report
certainly contains much of encour-
agement for the citizens of our State.
On October LIST, 1869, the total bonded
Indebtedness of Maine reached the
highest figure in it's history. amount
ing at that time to IS, 100, 900. At the
present time with q considerably
larger population it is but 81, $4,000,
showing reduction in the past tire"
decades Of $5.977,9 800. $4,000 of the
bonded debt of the State will mature
the resent year, and following this
$4,000 annually up to and including
the year 1911. From 1912 to 1921. in
elusive, the annual maturing debt VIII
amount to $4,000 and from 1922 to
1929 inclusive the amount falling due
annually will be $3S. 900 Not only has
there been an enormous reduction Of
the old war debt. but there has been
also a very large decrease in the in
terest account, modern conditions hay
ing enabled the State some years ago
to fund its debt on a 8 per cent. basis.
There are outstanding at the pres
ent time, as shown by the trcasurer's
report temporary loans to the amount
Of 100000. These loans are in par
offset by claims due from the general
| government for the reimbursement Of
expenditures incurred in the equip
ment of troops for the national ser
vice during the war with Spain. ard
which amount at the present time in
the aggregate to &c.. 3004S 1t is evil
dent that some provision should be
made for the gradual payment o.
these temporary loans, and the in
crease shown by the trcasurcr's re-
port only emphasizes the force OF
Governor Hill's suggestion that ther 2
should be sufficient increase in the
States revenues to enable il at all
times to meet it's obligations fully and
promptly without resort to tenn
porary loans. The cash balance in the
State treasury at the close of the iist al
year ending December 3lst, 1900. was
| $19S, S190l which is slightly less than
the balance on hand at the close oi
| the year 1899. Notwithstanding tie
fact that the increase of our State III
population during the past decade has
not been quite as large as was antici-
pated. there has been a substantial
gain in its aggregate wealth. a fact
which appears very clearly when it is
seen that although the rate of taxation
for State purposes IS only p mills
| on the dollar il nevertheless yields a
total revenue of $l.SI5, sol 90. These
figures when taken in connection with
the fact that 239 towns of our State.
nearly half of the whole number, have
received from the school fund moi
money than they have paid into the
State treasury in taxes, clearly show
that any measure of tax reform which
undertakes to relieve the public bur-
dens resting upon the people by deal
| ing wholly with the State tax will fall
far short of its purpose. The great bur
den of taxation resting upon the people
| will be found in the assessments made
for municipal and county purposes.
In closing Mr. Simpson pays n mer-
tied tribute to the faithful clerks who
have served under him so efficiently and
whose cheerful and hearty co-opera
ton have been such important factors
i'm his successful administration of the
treasury.
We cannot close this brief review Of
Mr.. Simpsons final report without
a word regarding the ability and good
judgment which has uniformly char
acterized his administration. He has
been an ideal State officer; prompt
courteous. painstaking and efficient,
man who has justly won the conf
dcnce and esteem of all with whom he
has come in official contact. Rarely
has it been the good fortune of an;
man to retire from such a position OF
public trust and responsibility afte,
so long a period of service retaining
in 50 great a degree the cordial friend
ship and good will of his fellow citi-
Zens. He is man who has shown
himself fully equal to every trust that
has been reposed in him, and who
numbers among the people of mis-
State an exceptionally large circle O.
warm and devoted friends In laying