Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1906-09-01

Thus it appears that during the rast
10 years while the State valuation has
increased over si2OOO,OOO the expendi-
lures have increased s722.157 and the
revenues of the State have increa sed
s1.075.092. The increased expcndi-
lures have been for the welfare of the
State as whole; more money for cdu-
cational purposes. more money for
good roads, more money for State
pensions. more money for hospitals,
and more money to do the business Of
justified. and while Democratic orators
and writer's have rallied at it they
have failed to specify where their
boasted "retrenchment" could be made.
Just as there has been an increase in
expenditures during the past 10 years,
so it is altogether probable that there
will be a continued increase during the
10 years to come, as such increase is
demanded by the growing wealth and
population of the State and the grow
ing needs Of its people and their in
Stitutions. There has been no ex
travaEance during the past 10 years
and under Republican rule there will
he none during the next 10 years. The
affairs of the State have been managed
in an economical and business-like
fashion by honest officials, and no
charge to the contrary can be made by
those who are pleading the cause of
the discredited and desperate Democ-
racy.
While there has been this increase in
expenditures there has been. as appears
above, an increase in the revenues of
tn state in the past 10 years from
81. So. 700 to s2,60s. 100. This increase of
s1.075 O92 has not, however. come by
any increase in the direct taxes upon
the people Of the State. On the con-
trary. the State tax rate is lower now
than it was 10 years ago. and the total
diHDuHt VI iiDIitS Pt'ii pS thI tS'PA's
into the state treasury in taxes is
actually less now than it was 10 years
ago. The increased revenue comes
from the railroads. the banks. the
great corporations and the timber
lands. as a result Of the process Of
epuali2ing taxation which has been in
auguratnd under Republican rule and
which is being earnestly carried out at
the present time. Thus the revenue
of the state has more than kept pace
with the expenditures Of the State, and
better still the increased revenue has
not come out of the pockets of the
people.
Now what has been done during the
down the bonded Indebtedness of the
State? In 1895 the debt of the State
was s., 4O3. 600 In that year. and in
each Of the six succeeding years. re-
duction of $4,000 was made in this
debt. In 1902 and 1908 there was a re-
duction of $4,000 made each year. In
1904 there was reduction Of 100000.
This was brought about by the pur-
chase of outstanding bonds before ma
turity with the surplus money in the
treasury. A glance at the second
table above will show that this surplus
resulted from the fact that the reve-
nue. of the State for 1902 and 1903 was
largely in excess of the expenditures.
In 1905 the debt was reduced S23.ooo.
Since January / of the present year
the debt has been cut down s265.OO0, and
there is 2 surplus Of about 100000 now
in the treasury seeking the purchase
of bonds before maturity. The bond
ed Indebtedness of Maine at the pres
| ent time is $1,115OOO and it is likely to
be s1.0oO.000 or less before the close
of the present year. a reduction Of
81 ,io0ce0 since 1895.
J. Here are the Official figures and we