Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-01-17

ing tho note which il due in New
| York?
MI. OTIS; The lean, yes, sir
! Mr. DAVIES: WIZ. you be kind
enough to state when the note is due?
| Mr.. OTIS: | understand it is the
list of this month. but | may be mis-
taken.
Mr.. DAVIES: You understand it is
| thc 2lst Of January.
MIR. OTIS: | think 50.
Mr.. DAVIES: Don't you think there
would be enough time if the resolution
VAS referred to the committee and the
| committee report upon it at once?
| This is an important matter.
| Mr. OTIS: | admit that it is an i'm
portant matter. and for that very rea-l
son think there should be some haste
| taken i'll regard to it, for the reason
| that it is important and the time is
shore. AS for its consideration by the
committee | would say that it has al
| ready been considered by members of
| the committee and | do not see
anything in this broad proposition that
| cannot be considered by this House at
| this time just as we'll as to have it go
| to the committee and take that course
with that delay. | will say that thu
| treasury department consider that it is
| necessary to have this course taken
| which I have suggested and | cannot
| see what good there will he in having
| ii so to the committee. While this is
| an important subject it is not a COM
| plicated nor difficult one. and il seems
| to me that ] have covered the whole
| thing in the brief explanation | have
| made. If the gentleman wishes to know
| anything more about it think he will
| get all the information he may desire
| from the officers of the State right off
| quick. and | cannot see any reason for
| referring it To the committee
| Mr.. DAVIES: The gentleman from
Rockland and other members of the
| House seem to be in possession of some
| information in regard to this resolu-
| ton which I have not. | had heard
nothing about the matter until today.
l knew nothing about the loan or moth
ing about the financial affairs of the
State looking toward the securing of
TINS ioan or the renewing of this note
uhtii | heard il from the gentleman
from Rockland and it. seems to me
tnat there may be some others in the
rouse VINO nave not received that in
formation. / understood his statement
10 be that it was necessary to raise
the sum ol $500. 900 To pay various un-
pald warrants and also To provide for
the renewal of the note
Mr.. OTIS: No. the $500. 900 was over
ana above the sSSd,6o0 of unpaid war
rants lor which we had only S135 600
IN cash. This 100000 was in addition
TO that and on temporary loan. The
warrants OF course stand in a class hv
themselves and have nothing To do
with this. w
NIX b.'N les: | did not understand
~ ethtIti1an ! thought the tuie.
'' n II the unpaid warrants was i'm
some Nay connected with the mat1n,
OF tho not.
MIR. OTIS: No there is no eonnoc-
ton.
Mi'' tAtTANGALL of Waterville.
Mr. Speaker. understand the motion
oi t1e gentleman from Isochland Ia he
TO suspend the rules and pass this re-
solve without reference to n commit
tee. / think moments thought ON
the part IF the members Will cause
all of them to ste the necessity oe
doing that. Today is the 10th. The
state las outstanding notes for 5000
ot due the 10th. That is. there are
three days left after tonight to ar.
range a renewal of those notes. The
notes are in the hands of Moseley &,
Company. brokers, in New York. who
negotiated that loan Tor the last adj
ministration. Arrangements had been
made h,f
present administration came in. but
no authority has been granted by any
body for the present State treasurer
to sign the renewal notes. You are
considering nothing more important
than the renewal of loan already ne
gotiated which We have no money to
pay. and l don't know how we couid
gain any time or any good object
by referring the matter 20 4 commit
tee. II these notes are not taken care
| Of on the Goth of this month, three
days from tomorrow morning, the
| credit of the State of Maine would be
impaired. The resolve in question is
simple and authorizes the treasurer
| OF course the form IS ITO borrow"
but to authorize him II renew the
| loan: AMI | will say that arrange
H'cEtS ICr the reneNdr- rad already
been made by Mr.. Gilmore before he
went out and all the details completed
| with the exception OF fixing the rate
Of interest and authorizing somebody
| 10 sign the note. There cannot he
any question about our duty to sus-
| pend the rules and pass the resolved
| as quickly as We can, and place t
| in the power of the Governor and
| treasurer of. this administration To
protect the credit of the State.
The question being on tie motion
| that the rules be suspended and the
resolve receive its two several read
| ings at the present time.
The molten was agreed 70.
MIR PATTANCALL MIR. Speaker. T
was under the impression that where
the emergency clause is contained III an
act or resolve there must he Il rolls !!
cali and trait it must be passed.. by
an actual two thirds Of the House.