Daily Kennebec journal., 1925-07-17

the gradual specialization of the
State. Where this tendency may
wisely halt is a question now giving
serious concern to Americans IA
miliar with the foundation of our
Republic upon the basis or private
| initiative.
Meanwhile the several charit-
able boards in this State are hon.
eStly and earnestly carrying out
their task as laid down by the Leg
islature. The changes in the law
at this last session have now made
it imperative that each institution
and department shall live within its
grant. 1t is, therefore, most graft
flying that all are voluntarily pre-
pairing to operate upon a budget
system similar to that inaugurated
in Washington in recent years by
which a reserve of 10 per cent of
the annual appropriation is set up
against the rainy day that seems
so inevitabl to arrive and the divi-
sion of the remaining appropriation
into quarters for disbursement dur
ing the quarterly periods through
out the year. In this way we are
protected SO far as it is humanity
possible against emergencies that
Should disrupt the finances of the
State.
THE contingent fund has now
been so limited in its operation that
no longer can relief be relied upon
from that source. This seems in ac-
cord with modern principles of pub
lie finance.
1.-The finances of the State are now
in a comfortable position owing to
the prudent provision made by the
last Legislature, but anothed year
of the strictest economy must
elapse before we can really claim
to have made progress comparable
! with the example the Federal Gov
ernment has been setting in recent
years.
For the past few years a decep-
tive surplus has been gradually ac-
cumulated through carrying uncol-
lectable accounts of various sorts
forward from year to year as ap
parent assets. Without reference to
items accruing in the past year.
These old accounts amount to ap-
proximately $150,000 and are practi-
cally worthless. Out of the surplus
revenue accruing on July of this
year there has been set up a Reve-
nue. Suspense Account to provide
I for these bad bills which must ulti-
mately be hcraged off by legislative
authorization.
Under the provisions of the new
law the contingent fund has been
strictly limited both as to the
amounts and disbursements which
may be made from it. 1t now con-
| tains 100000 and it is already evil
| dent that during this next year it
will be a very serious problem to
check the inordinate appetite which
has been developed in recent years
for consumption of this fund.
I'm addition under the new law
S3OO,OOO has been carried into the
Sinking Fund Reserve for retire
,, ment of our bonded debt. This con-
, stitutes the initial step in con-
structive policy definitely to retire
our State debt and will be a source
Of qualification to all citizens who
believe In applying the principles of
private business to the problems of
public finance"
Officers Elected
The following officers were elect
ed: President, Judge Reynolds of
Portland, who is also president of
| the State Board of Charities and
Corrections; Mrs. Lila Elliot of
Thomaston, first vice PRESIDENT Mrs
Sadie Bates of Skowhegan, second
vice president; Mrs. L. c. Dudley of
Augusta, secretary and treasurer
Mrs. E. c. Dudley of Augusta sec
retary. gave her report. A word Oft
greeting from Charles Dunn, Jr.. su-
permit of the State School for
Boys at South Portland, was brought
by E. c. CARL of Buxton. Mr.. Dunn
has invited the workers to hold their
their meeting next year at South
Portland and this invitation was ac-
cepted.
The guests of the afternoon in
cluded Gov. and Mrs. Ralph o.
Brewster, Mrs. Lila B. Elliot of
Thomaston, George A. Hutchins, L.
ii. Appleby of Skowhegan and Mrs
Appleby, Mr.. and Mrs. Robert Z.
Bracket of Pownal, Miss Roxie D.
Rocks, Mrs. Henrietta Bowman and
Mary w. Libby of Skowhegan, Mr.
and Mrs. Ralph Leavitt and Cert
rude Stevens Leavitt of Portland, DR..
Liptot and Mr.. Webber, Mr.. and Mrs.
Ralph E. Jewell of Fairfield, Mr..
and Mrs. Edwin c. Reynolds, Mr..
Kimball. Mr.. and Mrs. w. Thompson,
Mr.. and Mrs. Tobey, Mr. Smith, Mr..
and Mrs. Carl G. L. Woodwork,
Madeline Woodwork of Fairfield, A.
y. Rouh4uel. Mr.. and Mrs. George
p. COffin DR. and Mrs Ctephep =