Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1909-01-27
SURPLUS MONEY.

Where IL Came from and How IL Was
Distributed.
A correspondent, curious to know what
is meant by the ''surplus money" aistrib-
uted in Jackson's time, writes:
Bosros, Mass, Jan. Is, 1909.
To the Editor of The American
In the obituary of Aunt Salome Sellers in
THE AMERICAN of Jan. ID, mention is made Of
the candlesticks she bought with the ''sur-
plus money" received in Jackson's admins
tration. viii you please. for the benefit of
your readers of this century who are entirely
ignorant to what the term ''surplus
money means, give an explanations
| have seen the candlesticks referred to,
and Aunt Salome told me many interesting
things of her childhood days.
Very truly
LILLIAN May ROBBINS.
The distribution Of the sssurpius money!
referred to really did not take place dur
ing President Jackson's administration,
but in 1888. The law which resulted in the
distribution was, however, an act of
Jackson's administration, endorsed by
him.
BY the close of 1896, the last year of
Jackson's administration, the government
was entirely free from debt. The with
drawal of the governments deposits from
the United States bank after bitter
fight, and their distribution among the
state banks, started an era of feyerish
speculation. Money was pouring into
the governments Golfers from sales of pub
lie lands. Between Jan. l and June l.,
1885, the government funds had increased
from <t0 an ulD tn Ss1 1fgJ ON
The revenues still poured in, beyond the
needs of the government. Rather than
keep the surplus piling up, Congress or
dered, in June, 1885, that on and after the
first of the January following, all the sur
plus funds over and above s., 000, 900 should
be distributed quarterly among the sew
eral states, as loans without interest,
which Congress might recall at its pleas
ure.
The plan was stigmatized by its oppo-
nents in Congress as distribution in dis
guise, as loan never to be reclaimed,
(which, indeed, proved true) as plumber
ing instead of defending the country. SIT
was," says Thomas b. Cooper in his
american Politics., "a most unfortunate
act, a plat evasion OF the constitution for
q bad purpose. and it soon gave q sad
overthrow to the democracy and disap-
pointed every calculation made upon it."
The act was passed, however. Three
-
total OF Is, 0O0, 900 distributed. After that
there was no surplus TO distribute.
The money thus ''loaned" to the states,
was, as the opponents Of the law had said,
never to be reclaimed. The several states
disposed of it in different ways, some by
appropriating it to state expenditures or
for improvements, others by distribution
among the people. The State Of Maine
was among the latter.
By act OF the legislation OF 1887, Names
share OF the surplus money was distri-
buted among the several towns and plan
tations on the basis Of the number of
scholars shown by q special census or
dered for the purpose.
This act was succeeded in Feb, 1888, by
another act authorizing the several towns
and plantations sat their annual meetings
in March or April Of this year to distri-
butte the same per capita among their in
habitants, according to the special census
OF 1887, or otherwise dispose of the money
as they may any money accruing in the
treasury from taxation.h
The town of Deer Isle distributed its
money among the inhabitants, and "Aunt
Salome" Sellers, with her share of the sur
plus money, purchased the candlesticks
which she retained all her long life as q
relic. THE AMERICAN has been unable to
ascertain just how much each person re-
ceived in this distribution.