The Somerset reporter., 1903-01-08
STATE FINANCES.

whole state.
STATE FINANCES.
There has been a substantial increase in
our revenues, as a result of legislation en-
acted two years ago, which placed upon the
corporate Interests OF the state a larger
share of the public burdens. Not only has
the entire temporary loan Of $4,000 been
Maine Insane Hospital and Sl20000 of the
funded debt as we'll, while the amount Of
cash on hand December 31st was S240, 0l3. 81
greater than on the corresponding date two
years ago.
This Is a net gain of s7l6,013.67 in the
last two years.
years ending December 31st, 1902 was 81.
40 105; so. The amount Of cash on hand
Ing a total Of s4,62s es4.t3. The amount
OIL IS, leaving balance on hand Decem-
Der 31st 1902, Of S438, e926S. The greater
portion OF this sum will. however, be re
CURED to discharge obligations soon pay.
able, and to meet promptly the regular and
legitimate demands upon the Treasury, for
1t should be remembered that the state rev
enues during the first part of the year do
not equal lis necessary expenditures by sew
eral hundred Thousand dollars.
The various state departments and ipsti,
tutions have been managed with care and
economy. There was IN unexpended bal
ance Of appropriations amounting to s32,
76q 81 revertng to the treasury ut the close
of 1901, and Of S34, 80 at the close Of
1902.
From time to time an opportunity Is of
fered for the purchase of state bonds OF
various maturities and | believe it would
be sound business policy, and for the in
terest OF the state, to give the treasurer
authority to buy such bonds whenever
funds are available for the purpose. We
should take advantage OF these opportuni-
ties to more rapidly reduce our funded
debt, which otherwise can only be paid as
1t natures.
and payable annually until 1912; then s7s,-
0Co each year until 1922. and after that
$4,000 annually until 1929. when the last
payment Is made and the entire debt is
The net amount of state tax assessed
during the past two years was $685., 034. 81,
the total tax assessed against the cities,
towns and osganized plantations being 81,
TAT, 80, and the amount Of the school
fund and mill tax which they received
from 1.-The state treasury. s1,l52, 442 50;
Of the state, s942 025. IS was paid by the
towns and plantations. and SlO7974.5S by
the owners of wild lands The twenty
cities paid into the treasury 1926, 800 81
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 the state was
LAG mills on each dollar of valuation, and
for the towns and organized plantations,
each dollar.
In addition to 81 791 ,57O32 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 O3S 191. 43: on trust and banking COM
panies $40 l41 66 the tax on railroads was
k61S,479,92; on telegraph and telephone
companies, $36,S09.91; on express com
panies, S17 800 30: on insurance companies.
Sl52 POS PC; on collateral inhertances, SIS.
82S AZ; on corporations, S7S, 1000: organi
cations Of new corporations, St31. 49, 90;
other taxes and miscellaneous items. SAL.
e2427; making the total revenue from all
sources 81, $50 1852