Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1874-01-15

laws should be general in their character |
and uniform in their operations; for il is |
the business of government to protect the |
rights of ali rather than the interests of a |
few. Too often private and special legis- |
laton Is only device to secure exception |
al privileges at the expense of the people. |
1t is the parent of that growing lobby sys-
TEN which is always Injurious to the pub |
lie interests; and when supported by pow !
erful corporations or interests. becomes a
source of generalization and positive dan
ger.
SAVINGS BANKS.
In view of the late financial complica-
tons. the annual report of the Bank Ex-
aminer, which will be laid before you at
an early day, will be read with unusual
interest Savings Banks have become so
generally distributed, and their financial
operations have grown TO such magnitude,
that they afford a very correct indication
OF the material prosperity of the people.
For this reason ii is gratifying to know
that on the third of November the amount
of deposits in the ffty-six Savings Banks of
Maine. was $50, $50 23.s4-an increase of
SHOP l90.sl. since the previous annual
examination; and that the number OF de-
posltors was 81 ,39S-an increase of zoos.
The ENanlper, who seems to have CON
Quoted his Investigations with great fidelity |
ana throughncss. find these banks, Tor the
most part. conducted with the greatest
care, and with an earnest desire TO con- !
form both TO the spirit OF the law, and of |
the well-settled principle that Savings |
Institutions should regard safety first and |
profit secondary.
In this view | can but commend the En- !
aminer for the important step which he has /
taken in including IN his detailed report of |
the condition OF the several banks, full /
statement of the nature of the resources OF |
each. such public statement as this is |
due to every depostor. and will exercise a |
most beneficial influence in lettering the |
guardians of these institutions from in |
yesti1g in double securities which promise |
large returns. The fact that among the
securities of these banks, are reported
more than three millions of dollars in
Western Railroad bonds aud stocks, and |
more than four millions in State. county (
and municipal bond>-mainly the latter
out of the limits of New England leads the I
Examiner to recommend legislation de- /,
signed to discourage if not prohibit such |
investments. Any proper legislation that /
viii tend 10 retain the large Accommodations |
OF the savings of the people, within our |
own borders, will not only induce to the |
safety OF the banks. but also materially !
promote the development of the State
The recommendations Of the Examiner !
relative to providing an adequate penalty |
Tor Violations OF the Savings Bank law.
and also for legislation to discourage the (
use OF ,he>e institutions for large temporary |
investments. are worthy of your serious
attention. When il is remem hered that the I
deposits in the Savings Banks of Maine, /
have already reached five aud a half mil 1
lions more than the aggregate capital and I
deposits of the National Banks in this |
state the Importance OF the subject will be |
properly estimated.
IilE PRESENT AND FUTURE OF MAINE.
You will rejoice with me over so unmi>-
taxable indications that Milne has entered
upon a career of marked prosperity Al
though temporarily checked by the recent
financial panic. yet there is reason to be
heNc that the progress Of our material
development viii be uncXampled during
thc next decade. Abundant evidence OF
this prosperity. i, afforded by the admirable /
and wonderfully complete report OF the /
sat" Siati>;ic,ah. which VIII lee laid before
You IN printed form at an early day. and
cannot fail 10 show the importance and
value OF an undertaking. which has been
- successfully accomplished with SO small
means 10 so short time. Such an annual
survey OF the wealth and industries OF the
State, Will serve not only to bring prom
lncntlY before the capitalists OF other
states, the extent and variety of our re-
sources, but also to give our own people
stronger faith than ever In the future OF
Maine
We have been ready, perhaps too ready.
to concede that Maine j. not a good agri-
cultural state. Yet. with all the draw
backs of climate and soil. i; i capable of
demonstration that the farmers in those
sections OF our State where manufactur-
ing and industrial operations have deyelop-
cd home markets. are as prosperous A.
those OF States which have a more genial
climate and a more fertile soil. but are
further removed from the consumer. The
state Industrial Commissioner estimates
that the hay crop of Maine Tor 1873. was
about two millions tons. worth TWENTY-FIVE
millions Of dollar>-seyeral times the yaiue
of the wheat crop of any state of the fertile
west. with an equal population. The value
OF our dairy products. which are rapidly
increasing, was over two millions OF dol
lar: aud of all productions of the farm.
Including ike stock, nearly fifty-Seyen
millions of dollars. Yet the territory in
Maine thus far reached by the tiller of th.
soil. Is much smaller than that which i
>tlll wilderness. Not TO sneak of the
great body of unsettled productive land
lying between the Androscoggin and Pc
no5>cut. there still remain unimproycd.
nearly three millions OF acres in the ARGOS
loon region. which surpasses in size the
territory OF Mas aclu>ettS. has a soil equal
IN depth and fertility TO that OF any portion
oi the mon. and is capable of supporting
population of million persons. The
fact that immigration from this State to
The great west has practically ceased. and
That the tide has to some extent turned
eastward. Enthusiastically indicates that even
a an agricultural State Maine has n
promising future. Whatever policy will
give needed encouragement TO those rural
pursuits which engro-s the energies of a
majority Of our citizens should be pur-
sued.-not simply because it will promo.e
the interest, Of 50 many citizens. but also
and especially because thereby Will be laid
the most enduring found ltions for the
material and moral pro- pcrity of the whole
Gate.
1t i 10 such development of our natural re
sources u VIII create home markets. that those
engaged in agricultural pursuits must look for
permanent promotion Of their Interests In
these Resources Maine occupie, q pre-emiurnt
position. Within few years. indeed our man.
uiacturlnS. commercial. mechanical and mining
industries have wonderfully expanded Tn,.
value OF the state, for the past year, was near
~ twelve and half millions of dollars: of the
manufactures of wool. seven millions: boot.
ana shoes-ln industry that has developed with
remarkable rapidity - nearly nine millions
leather, four millions; paper. three millions:
millions; iron, east and forged. two and a half
mil!Ons machinery two and half million.
edge tools. nearly three-fourths Of a million.
OH cloths. million and half; bricks half "A
hlhon; fertilizers. nearly eighty thousand:
menhaden and Kerosene oils. half million:
fisheries more than three-fourth, Of a million
ana canned products Of the soil and sea mil
hon and three-fOurths. The value of the Ice
cut from our riyer., was over half million
dollars; Of the granite quarried from our rock
Douhd shores and nils, four and half mil
lions; Of the lime burned from the abundant
materials at hand. one million eight hundred
thousand dollars; and Of the lumber cut from
the immense forests which. with proper care
may be handed down to future generations,
nearly ten millions of dollars
but IL possible. more encouraging still, not
only on account Of the immediate value Of the
industry ITSELF but also because Of its great in
nuence on national prosperity, is the revival Of
ship-Dmding along our coast and rivers. as ey-
ldenced by returns showing that during the
past year there have been built in Maine 976
vessels, with tonnage Of ss,sI7 tons. valued