Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1903-01-13
STATE FINANCES.


There has been substantial increase III
our revenues, rs result of c,'iS!ati"h W
acted two years ago, which placed upon thc
corporate interests of the state Il larger
share of the public burdens. Not Only mas
the entire temporary loan Of Si5OoOO heeh
paid bat $4,000 on account rf The Eastern
Maine Insane Hospital ana Si2pooo ol me
funded debt as well, while the amount 81
cash on hand December 3lSt was S2ioVl3."'
greater than on the corresponding date two
years ago.
This is net gain Of STij,0l3.G7 in the
last twd years ,,, ,u.,
years ending December 3lSt. l'N:. waS ST.,
40 1872 Tho amount of cash an hhrd
December 31st. 1900. was SlJs Si9ol. max.
ing total of S+,62SSSi.53. The amount
disbursel during this period was Si.lW.-
OIL ~. leaving n balauce on hand Decem'
her 3lSt. 10O2. of Sis. .S92.6S. The greater
portion of this sum will. however. he re
0uired to discharge obligations soon pay,
able. and ~ meet promptly th" regular anu
legitimate demands upon the Treasury, Tor
1t shoula he remembered that the state "ev-
enucS during the first part of the year do
not equal its necessary expenditures by Scv-
eral hundred Thousand dollars.
The various state departments ana lnSI',
tutiOns have heen managed with care anu
economy. There was IN uncxpended hai-
ance of appropriations amounting 10 Eo-'
769 81 revcrting to the treasury NJ the Close
1902
From time to time an opportunity Is OF,
fered for the purchase or STATE honlS oi
various maturitieS and | believe 1t would
tcrest of the state, To give the treasurer
authority to buy such bonds whenevc!
funds are available for the purpose. we
should take advantage OF these oppprtuhi,
ties to more rapidly reduce our iuhdea
debt which otherwise can only be PAID us
II natures.
and payable annually urtil 19l2: then S,S.-
0C0 each year until l922, ana aftrr that
SIS. 600 annually until 1929. when the last
payment Is made and the entire debt Is
discharged.
The net amount of state tax assessed
during the past two years was S29''oai;"1'
the total tax assessed against the cities.
towns and organized plantations bcing ST.,
T41 7T.3O. and the amount of the school
fund and mill tax which they received
sSo5, ,45l.42 was paid by the twenty, cities
OF the state. S9i2O25.SS WAS paid hy the
towns and plantations. and S1Oi9I4.5S by
the owners of wild lands The twenty
cities paid into the. treasury Si.G,aIoe :;
more than they received from the school
fund and 25S towns and plantations, or
more than one-half, received from the
school fund more than the state tax as
sessed against them. The average net state
tax Of the twenty % cities OF 0f tnG Stae %nS
Il
for the towns and organized plantations,
the average rate was one-half mill on
each dollar.
In addition to Sl,791, ,57O3 80 received from
the tax on cities, towns. plantations and
wild lands during the past two years. the
tax on savings banks has amounted to
81 OBS, 191. 43; on trust and banking COM
panies. S45, 147 66; the tax on railroads was
companies. SS6.sO991; on express com
panies, S17, ,32O32; on insurance companies,
Sl52 2OS 26; on collateral inheritances, $751;
S2S. .43; on corporations, SiSl40OU; organi-
xatious of new corporations Sl3l.
other taxes and miscellaneous items. $i4l::
a24 27; making the total revenue from all
sources S4, 430. 1852
STATE VALUATION.
The state assessors report an Increase or
S. $50. .227 90 during the past two years In
the valuation Of the cities towns and plan.
S325. .O4S. 121 90. Wild lands are valued at
S25 52S, ,03O 90, an increase Of $6.401 .523 co.
which together with an increase OF VII
49S00 on timber. and grass on pubic lots,
makes total Increase In valuation OF Slo,-
$40 24S.0O.
The assessors have labored earnestly and
zealously to ascertain the true value OF
property in the state. The figures which
they present have been carefully made
ity Of our people.
SAVINGS BANKS.
The depositors In our savings banks and
trust companies and the shareholders In
the loan and building associations now
number 23T.7io .cCraling. about th!:l O.
the entire population or the state. ms
ia gain Of 23,7GO during the past TWO
years. ,ooo A.,
total assets Of all our state banking insti-
| tutions were as follows: savings bamKs' dn
| S77. .S5S, ,S15.84; trust companies, $lI,OSS''
| 44i 70: loan and building associations. 81
| "a. Cos. 60 total of H.1443S3.94. as
against $S7, ,233 703 IL two years ago, being
| an average annual gain OF over S5;OOO,OO0
AS rule deposits are made IN sucn
small amounts that they could not be In
vested Independently and often they are
| made by individuals who couid not lnvesl
for themselves. When these accumulations
ore Withdrawn. It is either to meet exist
INC needs. or for use and Investment In the
business of the individual depositors
Through the influence OF these institutions
/ vast sums have been saved which nave
consta ntly contributed to the business en-
| terprises of our state.
| IN the past two years these banks nave
| Maid to deposltors 81, 467. 1914 In divi
| dends. This Is the net Income which they
have returned to their patrons. after pay
Ing taxes amounting to over Sl;OoO.OO.OO
| ali the necessary expenses OF their manage
menf. and setting aside a reasonable re
serve While the annual rate paid !!
small, 1t represents material addition q
the income of our people, and contributes
largely to their present comfort and futur'
1eifG&-