Litchfield enquirer., 1874-05-14

cEd, anu tnuS remove Sncn causes Of 1eal- ousy as the present system is so likely to foster, and provide for the state an organic law, which shall be in harmony with the spirit of the present generation.
 FISANCEs-s SAVINGS BANKS RAILROADS = INSURANCE.
 The condition or the Treasury is satis- factory. The fiscal year commences with eight hundred and sixty-t three thousand nine hundred and eighty. eight dollars and thirty-three cents (s863, ,9sS. .33) on hand, and no floating debt, being an increase of nearly one hundred and twerty-six thous- and dollars ($126, ,0OO) over the balance on hand last year.
 The bonded debt of the state amounts to five million and fourteen thousand five hundred dollars (S5, ,O14, ,500), at six per cent. interest. At the close of the war 1t was ten millions (S1O, ,000, ,O0O. Bonds to l the amount of eighty-one thousand four hundre dollars ($81 400 have been pur chased during the last year, being all that were offered to the Department for that purpose.
 The debt of the state has been reduced during the year two hundred and seven thousand three hundred and ten dollars and twenty-seven cents (s207, ,310.27).
 The present Grand List of the state shows total value of three hundred and ffty-four million ninety-nine thousand seven hundred and seven dollars (354, ,099, : TOD, being an increase of about five mil lions over the previous year.
 The entire revenue collected during the last year by the state on account of the 1 Civil List, was one million seven hundred and two thousand four hundred and twen- ty-seven dollars and ffty-six cents q, ,701 . 427.56); the principal sources of which fwere the one mill tax on the towns, pro- ducing four hundred and twenty-tw thou sand nine hundred and fifty-three dollars and fifty-six cents (S422, 953. .56); the tax and seven thousand one hundred and three dollars and twenty cents (S507, ,1O3. = i 20); the tax on railroad companies, pro- ducing two hundred and ninety-eight thou sand four hundred and twenty-one dollars and four cents (298, ,421. .04), and the tax on Mutual Insurance Companies, produc- ing three hundred and twenty-seven thou sand and twenty dollars and eight cents (S327, ,O20G8).
 The other details of revenue, and the expenditures, in fuller detail than they can be conveniently given here, will appear by the reports of the Treasur- CT and Comptroller.
 It IS the opinion of the Treasurer, not withstanding the reduction of the state tax from two mills to one mill, that with the economy the income of the state will be sufficient for even the extra appropria- tions required for the new State House. But to ensure this, a suspension of fu-- ture purchase of bonds would seem to be necessary, until the completion of the State House.
 hardly need add that I shall gladly cooperate with you in any endeavor to reduce expenditures, and promote econo- my wherever it may be practicable.
 There were seventy mine Savings Banks in operation in the state January l, 1874, holding deposits, in the aggregate, of sew fifn1g f7iousanu f5nf hundred and seven 1ella-a and ..inety five cents ($7O. 769, 4O7.- 951, being an increase, during the pre- ceding year, of two million two hundred and forty-six thousand and ten dollars and seven cents (S2, ,246, ,O1O.O7). Their as- sets have increased during the year two million four hundred and six, thousand one hundred and ei9hty-seven dollars and eighty-fve cents (S2, ,4O6, ,1S7. S5)E )Ethe loans on real estate increasing about four mil lions of dollars with a decrease In loans and in personal estate of about two mil hons-the result, evidently, of the reduc ton of the tax on real estate loans.
 The whole number of depositers. Jan uary l, 1874, was two hundred and four thousand seven hundred and fortv-one (204, TAD, of which one hundred and fifty eight thousand three hundred and seven ty-one Q58,37D were depositors of less than five hundred dollars; their total de- posits amounting to twenty-one million eight hundred and ninety-six thousand six hundred and eighty-fve dollars CS21,- S96, ,6S5). The number of depositors of sums between five hundred and one thous- and dollars was twenty-eight thousand three hundred and twenty-four; their de- p6sits amounting to fifteen million nine hundred and seven thousand and sixteen dollars ($15, ,907, ,016). The number of depositors of sums over one thousand dollars each was eighteen thousand and forty-six QS, S,O46l; their deposits amount ing to thirty-two million nine hundred and sixty-fve thousand seven hundred and six dollars (S32, ,965, 7O6).
 It will thus be seen that very nearly one half of the aggregate deposits were made by less than ten per cent. of the whole number of depositers, in sums of over one thousand dollars each. But, although in this the true idea of a savings bank seems to have been lost sight of, and the institutions to that extent operated rath- CT as Trust companies, for the investment of surplus capital, still the very large number of small depositors shows that the mass of the public dealing with these | institutions in that character, have done so upon the faith that they are what they were only chartered to be, institutions for savings, and any legislation in regard to them should. in the first place and before any other consideration, be directed to the security of the deposit thus made. Their managers should be regarded, as | they are. both in name and the nature of their office, trustees for those who are sol situated that they have neither the time, opportunity nor means of knowledge to make safe investments of their savings, and no legislative restrictions, which shall serve to keep this fact constantly before their officers, should be objected to byI any we'll regulated Savings Bank. It was, apprehend, under 8 sense of the peculiar responsibility of the state to theI public for the management of these insti- tutons, that commission was appointed by the last General Assembly to make a special examination of their condition, and report to the General Assembly. I commend this report to your most eonsid- crate attention. especially approve it's recommendation to restrict the loans by| Savings Banks on personal security to forty per cent. of their deposits on hand. There are twenty two railroad corpora tions having roads wholly or in part in this state, of total extent of eleven hun dred and ninety-seven Q19O miles, of which eight hundred ninety-six (896) II 1-- A1. of twenty miles during last year.
 They have transported during the year ten million five hundred and forty-tw5 thousand eight hundred and twenty. one Q0, 542. .S2D passengers, being an increase| ovdr the preceding year of four hundred and eight thousand one hundred anl leighty-eight (4O8. .1SSl. without fatal if tlury to any passenger, except in two iE
 stances. resulting from incantion of tIs passengers on leaving 9 train. Other il
 stances of injury, to the total number {