Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1878-01-09

--- $4,000
Coupon, May 4, 1852, lycpsr
gent, san =, w. m'y a 70; s1. - S5',9Sov s9S oSS
$1,000
Registered, NAV 4. 1882, Eve
per cent. call Of May is.
p.S.n"G .,i'',', NJ ss is;; SOS sISoSO
$500
-
Amount Of loan, on wslca interest ""' .e,.o,o
' f'' $50 NV y -
The call contained the notice that
interest would cease ut the end ol
ninety days. These loans not pre-
scented IN accordance with The hotlce
have ceased To draw interest slncc lhe
time gwen ~ The call iur expired Inc
principal will be paid, without interest
from that ilme, when presented. fiauti'
cally, the constitutional provision us ~
the annual reduction oi the STATE M
debtrdness has been more than iully
complied with.
Under the several acts constituting
The Board 0i Revenue commissioners,
the law Is very detective Tor tho pnr-
pose oi oblalhiilga inlr ana equal "ssess-
inent OF the subjects OF State taxation,
and for nscerianing and determining
the value thereof When the Board
Was organized IN 1874, 1t consisted Of
one member from each Judicial district,
together with the State Treasurer, and
the principal subject OF taxation was
real estate The Board now consists
OF the Auditor General, Slalo Treas
urer and Secretary OF the Common
wealth, nnd personal property only Is
liable To taxation. The law, us appll.
cable to real estate Is not adapted to
the valuation aud equalization OF per.
sonal property.
The reports from the Commissioners
of the several counties Cf the returns
made by the Assessors are 81 unequal
in the Valuation OF the property, aud
some OF them 50 deficient III returning
full assessments OF the various kinds Oi
property taxable for State purl oscs,
that great injustice is done To thc Com
mOnwealth, us well Us to many cunn.
tirS, in consequence Of this want Of
uniformity in Valuations aud complete
,iess OF returns lhe power oi the
n"sru oi Revenue commissioners 10
remedy 'h'S ny gong oehlnu tner,turns
70 'l'aho corroc.,ohS nom ihior'nauoh
ueilVeu liuih otner sources mas Deeh
questioned, ana Dlii was Introduced
INTO the Legislature at the last session
10 remedy inns dclect' ana TO ueilnv the
powers and extend the duties OF the
Board OF Revenue Commissioners. Bat
the bill was not PASSED The triennlal
meeting OF tho Board VIII take place
this winter, and without such legisla.
ton, under tue construction Of the
present "w' "n'cn Is con'shueu 'or, the
''n "''ea y, w. - W." ~ "'.y o'e''
Ic ,..',..'' =. s,..., ,-'
-. l',
~, - : I"V''' " ''', i""'N 49,
~, '.,,I',,i.'. a,', ,Ii, ~ "s ~ I'LL LII ~
10 'i ~, ~ 49, ,"'' "a" suo"'' W
i|e 1o p,.,,,',,,' no r'9 ns"9, !" vuo '""'
annruochiuy m.riin'' n'..'. !" wy
..,,,. -, ,,,i.,n,, 80 80" ''''"
=,
""ny appropriations are ASK, q Tor
"nnua''y 'or ,"o "'hcn, o' tho 'iasSes
VI Pe'sonS VINO pay these iaNeS, ou'
W pay appropriations u Is necessary to
n"No revenue lhe accounting AMI
i,"aNcl.' Officers :" the commonwealth
Shon'h DC PROVIDED WIN thc neans oi
'"'"'',S n''n u"n'c''iS the ninouht
W W 'nN'S W",'h ,ho 'Aws nave lmposed.
~ "V''",V y IA" '""t '"'JNN' "'.
ar''o'e o' p'"pcr'9, % 'lap'c W u,Na
YOU WI" Pro'uce ~ re',"uc uhivsS
Wv '''""S W "'So'S,"g anu cV'i'eVhs
'"' '"No' "'o l'o''ucu'
s"'iNos BANKS AND TRUST COMPANIES
An examination OF the many failures
OF these institutions during the year
demonstrates that to allow then Ia bc
usei aH banks OF discount Is fatal to the
interest OF deposilors, oven where the
business is conducted with ordinary
integrity aud prudence. Banks Of dis
count aud exchange, although entitled
savings banks, must bc conducted as u
6usincss and cannot be managed rs
trust Money must bc loancd 10 busi.
ness men upon business paper subject
iothc fluctuations ct trade, and invested
IN speculalions, which, while perfectly
Legitimate Tor u business man, involve
RISKS which ought not to DO taken by
a trustee The law should separate
banks OF discount ior business purposes
from institutions designed TOR The safe
Keeping OF The earnings OF the people,
a"u .i ougn' go NOT 70 a''ow mem 70 oe ac-
~ ."I n"''V " s"NneS o""nT
ILL., I'LL ~ ,,.'s "na' a'o' ~ ,Va''S' s""P9
'"'"' " ''''o""' "'' 'N'""'so'
a movement Is on loot to organize
national postal savings fund. Such II
scheme Is n subject Tor serious rellec-
ton. II involves not alone qncstIons
OIL pecunlnry nature, bat those OF n
profound political character. ltinvests
the Federal Government with u vast
trust, and clothes IL with corresponding
influence. IL would add intense inter.
est to our elections, and give tho domi.
nant party the weight OF conservatism
oil q great vested interest On the
Other hand. It offers the people the
sccurcst depository for their savings,
ana eScites an abiding interest in the
perpeiuity yandiniegriiy ofihc National
Government Upon the whole, IL
seems !. to me ctoprom'se enduring bene-