The Elk County advocate. [volume] (Ridgway, Pa.) 1868-1883, 1875-01-14
sOLDItKS ORPHANS.

these unfortunate children, whose future
will be shaped aud usefulness largely
determined by the instruction they re-
ceive from the State. A number of
these orphans, distinguished by good
conduct and mental qualities that
adapted them to the calling Of teachers,
have been transferred upon the expra-
tion of their terms, from the Orphan to
the Normal schools of the State, where
they are being fitted for that useful
occupation. WHAT the State should do
to obtain employment or means OF
livelihood for the residue of their child
rsn who are in need of assistance, is .
matter | fee assured you will not think
unworthy of attention.
CENTENNIAL
The Centennial is referred to in
glowing terms and the welcome accol ded
those who attend, the Governor SAYS,
will be in keeping with the traditional
hospitality of the people of PenE.yl-
vania, and we trust will reflect honor
upon the whole nation.
INSURANCE.
The necessity of an insurance depart
nent has been shown, the Governor
says by the discovery OF a number Of
unsafe aud insolvcnt companies
doing business 10 the State. In some
cases the assets melted away into worth.
less securities, fraud. The protection
of SQUAD companies, the retention at
home of the capital invested in insur-
ance, the interests of the insured, and
the honor Of the State, alike demand
the exposure of those fraudulent com
panies and the enactment of a genearl
law SO stringent 10 its regulations that
it will be impossible for adventures,
under the cloak Of an Insurance CON-
pany to rob the public.
NEW CONSTITUTION.
The new Constitution is next refer.
red to, and His Excellency is pleased
to observe more growing disposition on
the part of those in favor of good govern
meut to see that its provisions are all
carried into effect.
BANKS, SAVING FUNDS AND TRUST
COMPANIES
We have in the State one hundred
aud ninety niae National banks, whose
capital is about $4,000 900; and one
hundred and seventeen State banks
and saving institutions, whose capital
actually paid 10 as per Auditor Gener-
ais report of 1874, was S8,370,1G8 IS,
in all three hundred aud sixteen banks
and savings institutions, with 90
aggregate capital of s60,00O,000. He
calls attention to the vicious practice
that has grown up in the State of in
cooperating banks, savings and trust
companies without fixing proper and
definite limitations to their powers and
privileges, and providing for their en-
forcement. ln the enactment of a gen.
eral law, whereby they can be organized
without limit, it is of the highest impor-
tanee to the business interests of the
people, and the material dcvlopment of
the State, that their powers aud privil.
eges be clearly defined, and any viola
ton thereof thould subject them to
proper penalties or the forfeiture of
their charters.
The Auditor Generals report shows
that they had over S23 100000 in De-
posits. Some of them are averaging
$40, $50, $50, and $40, of deposits for
each dollar of capital stock paid in; de-
pending, in some instances, almost en-
tirely upon their deposits for banking
facilities. These are obtained by offer
ing usually six per cent interest, and
loaned book 10 the community in which
they are borrowed at higher rates Of
interest.
MUNICIPAL INDEBTEDNESS AND TAXA-
TION
The creation and increase of indebted
ness by the municipalities of this Com
monw ealth the past few years, have
justly excisted the apprehension Of tax
payers, and greatly augmented their
burthens. So enormous has this evil
bee ONE, that provision was inserted
in the new Constitution to check it, and
at the last session | approved au act for
that purpose. While ;hc letter Of the
Constitution may be open to technical
criticism, its spirit and intention is in
my judgment clear, that no city whose
Indebtedness at tho adoption of the Goa
stitution, exceeded seven per cent, shall
be permitted to increase the same, in
the aggregate, to exceed three per cent.
of the assessed value OF the property
therein. If additional legislation is
necessary with the spirit of the Copstitu,
tion and protection to over-burthened
taxpayers, demand we should permit no
evasion Of its wise and bene6cieut pro-
visions.
POLL TAX
He refers to the poll tax and Gays it
is rot in harmony with our institutions
thst citizens should be deprived of ex-
ercising their fraschise by excessive
taxation, or that the tax imposed there
for be unequal. This qualification tax
of voters should be uniform, ana |
therefore suggest the repeal of all laws
authorizing the levying o! taxes upon
trades, occupations, aud professions, and
that a county poll-tax be substituted
therefor at a rate so reasonable as to bo
within the ability Of all to pay.
THE NATIONAL GUARDS.
He speaks in praise Of the National
A.. Il