Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1915-09-11
s4,SS1,2O5.2
S6,671.152.75

July 81. 1870, 1889 July 3D.. 1,166,7 IL
Sass, 9o5.25 ss,s71. 152 rs
Now if we wanted to try and fool
the people we might have heralded
from the housetops the fact that we
had s1.267, 1882 in the treasury, as
against s7Oo.707 last year. at the end
Of June; or to date we had an average
of about 100000 per month more
than last year.
Possibly we might have pleased
some people with this announcement:
but. it has no significance except in
so far as the cash on hand will pay an
equal amount of bills.
If all bills We're paid it would be
different In the past the key to tho
States financial standing was in the
net debt; but by the method of figur-
ing used. it could be made almost any
amount. to suit the purpose.
In this statement the arrangement
is such that it must show the deficit
or surplus.
All debts of permanent nature
which the State will not be called
upon to pay are left out of the balance
sheet and shown separately. so that
the people who read may not be con-
fused by a mass Of figures in the
balance sheet which do not change the
result.
The bonded debt. permanent loans
and trust funds expended etc. will
never nave to be paid, but the state
must pay the interest each year The
bonded debt consists of:
Outstanding bonds due Oct. 1, 80. $4,000
For Maine Insane Hospital, 100000
For University of Maine, 10O,0C0.uo
For University of Maine, 1lS,300.Oo
$3.50, coo 90
The State will not be obliged to pay
these bonds.
The permanent school fund will not
be paid The State is responsible for
the income only. and the same applies
to the other items composing the per-
manent debt of this statement,
Now comes forward the eX-auditor
and attempts to make political capital
out of this financial statement.
If the report of Mr. Callahans in
terview in the Kennebec Journal is
correct. it is noted that AS he talked
he smiled
That may be important, but what is
really significant is that in his long
interview he does not deny the deficit.
The deficit is there, and if Mr.. Cal
lahan knows anything about the
States finances he must admit 1t.
He applies my way of figuring to the
Plaisted administration, and under
the circumstances of the burden put
upon them when they came into Of
flee | consider it weak to make such
a comparison.
Anyone that knows anything about
the situation which confronted Gov.
Plaisted when he assumed office
knows that the State finances were in
a shocking condition; and it cannot be
denied that the Plaisted administra-
ton did wonders in clearing up the
situation.
There should be no criticism OF the
financial showing of either the Plaist-
ed or the Haines administration; but
if Mr.. Callahan wants to make COM
parsons why does he not go back
another term and see how he comes
out. and then another and SO on
down; and the deeper he digs the
worse the hole will smell.
I am willing to admit that owing to
lack Of time during the busy session
of the Legislature did not look into
the financial affairs of the State as
carefully as I wished. and l had faith
in Mr.. Callahan's statement that there
was surplus.
Examination Of his statement re-
vealed to my mind that Mr.. Callahan's
figures seemed unreliable and con-
WINGED me that 1 must depend upon
my own.
The Express stated that Mr.. Gala
han says that I am a wizard at fig
ures." That is a joke. l am not a
wizard, nor is Mr.. Callahan. II he was
he might be able to make his figures
stay put: but when a man tries to
show that the more taxes an admins
tration collects the worse their stand
ing. have no use for such figures.
My business Is concerned with the
present administration and it is moth
ing to me what happened in the
Haines administration or any other.
We are trying and will continue to try
and conduct tho affairs of this admin
istration on business basis and show
the people the accounts as they are
without any "shrewd or adroit manip-
ulation of figures"
For the business OF the council
meeting before referred to l simply
tabulated the figures in the plainest
possible way, so that they could be
readily understood by all; and I am
moved to say that Mr.. Callahan ought
not to employ the business argu-
ments Of the council as excuse for a
political harangue.
The figures are there on the pages
of Mr.. Callahan's report, as 1 gave
them. and l will be pleased to show
them to any one who cares to see
them.
The Boston Herald of August 30,
1915, says: I'm his zeal to belittle the
SDlendid financial cbou,;o- 80 49,