Connecticut western news., 1872-05-03
Gov. Jevvell,s Inaugural Address.

said that our State debt had been reduced more than in any year in our history the reduction being no less than eight hundred and eighty-one thousand one hundred and five dollars and seven cents ($e81, 105.07). The total funded debt of the State at the commencement of the present fiscal year was five million seven hundred and sixty nine thousand, three hundred dollars G, 769, ,- 3OO). There was cash on hand at the con- mencement of this fiscal year amounting to $845, 194. IA, which reduces the actual debt of the State to $4,923, 5O5.s6, against $5, ,sO4, ,6l0.9s the previous year. The en- tire revenue of the State from all sources during the last year was $2,o9l ,O35.63, of which the two mill tax yielded $73l, ,522. 19.
 The total disbursements of the year were $1 ,978, ,596.74. He thinks the present rate of taxation of two mills on the dollar should be continued as our expenditures will exceed those of last year and our re- ceipts will be less as we shall probably re- ceive little or nothing from the general gov ernment on account of war claims, from which source we realized two hundred and seventeen thousand dollars during the last year.
 SCHOOL FUND.
 Our school fund $2. .O46, 090. 75 is well cared for by the commissioner, and is in vested as follows: $246, lOl.74 on real es- estate in New York, at seven per cent i; $lO, 524. l2 on real estate in Ohio, at seven per cent; $3O, ,635. S9 on real estate in Mas sachusetts. at six per cent; $1, 425, ,016. 39 on real estate in Connecticut, at six per cent; $204, ,sl2'61 in bank stock; $l30, 900 is invested in Connecticut State bonds.
 The number of children returned is 13l,- 74s, an increase of 3,2sO for the year on which per capita dividend of one dollar has been made. Unless something is done to increase the income of this fund we shall be unable longer to continue this annual dividend of one dollar.
 BANKING INSTITUTIONS.
 There are 72 Savings Banks in the State, with an aggregate deposit of $62,7l7,sl4.71 an increase of $7,42o, lO9.37 during the year, or two and one-half millions more than our entire state debt. Different rates of interest are charged by Savings Banks. which is in my opinion al wrong, as is also the practice, too often in dulged in, of the trustees or officers of say ings banks getting commission from the borrower, or of paying out to him ai money, bonds at par which are not Wortt it.
 All these illegitimate practices should bt prohibited by stringent laws. A uniform rate of interest and manner of payment should be decided upon, and we should have active, upright, capable, and courage ous Bank Commissioners, who are not con nected with any Bank, whose duty i should be to see that the laws are compiled with.
 recommend that the tax be taken of such portion of the deposits in our Say ings Banks as is loaned upon real estate We can afford some reduction of taxation and it appears to me that this is the place to begin. As it now works the banks o1 course charge the tax directly to the bor rower, while he can get no abatement ol offset in consequence of his mortgage, thu compelling him in fact to pay double taxei on that part of his real estate that is cover ed by mortgage. As this class of borrow CTS is mostly from our active laboring men of small means, I trust this matter may not be overlooked.
 There are but four State Banks left, witl an aggregate capital ofsl, 100000 whicl appear to be all right.
 SCHOOL FOR ndBEcILEs.
 Your attention is particularly directed t. the report of the Connecticut School fo Imbeciles, at Lakeville.
 More room is needed in this State for th accommodation of this unfortunate class The State benefciaries now number but 20 while there are many times that number il the State who need the advantages of tn School. An appropriation was made flo the enlargement of the Institution last year but it wss so hampered by conditions tha it has not been available. The School
  to and needs still further the fostering car of the State. !. TOWN PAUPERs.
 ! My attention has been lately directed | the practice which prevails in many town in the State, of letting out the poor of th town to the lowest bidder. This is fa
 behind the spirit of the age, and should b stopped if it can be-.
 A law now exists that no town shall sen , it's paupers into another town, if sue
 other town objects. It seems to me ths , this should be changed, and that no tow - should be permitted to send it's poor beyon
 it's own limits under any circumstances.
 THE GRAND LIST.
 The grand list of taxable property, Oct f Der l, 1871, in the State was $339, 7s2, 73; l. being an increase over the previous year ( v $1l, ,346, ,l32.
 - VARIOUS MATTERS.
 l. Our legal limit of the rate of interest e too low our divorce laws are too loose our laws with regard to the property righ @ of married women need revision; 0,
 State officers should be elected in the fa v for two years, and an attorney-gener a should either be elected by the people , II appointed by the Governor. - The appropriations asked for this ye' will be fully as large as our treasury wi .- warrant. Let them be closely scrutinize l. While our State cannot afford, and do !. not need, to be niggardly in its benevolenc q sound judgement should be exercised e voting money out of of the public treasur !. Our people look with no little alarm upe ], the tendency toward extravsgance in o j. public affairs. Let us make no appropri !. tions except where absolutely needed, al