Litchfield enquirer., 1879-01-16
WHOLE NO. 2746
doing most excellent work, and deserves well

AAAoSS SANSAASAS ~SAAN~ ~SS>~ of the state.
 INSURANCE LAWS.
 For the last, thIee or four years great unea- . siness has existed, out of the state among pol icy holders, and within the state among our own citizens, with regard to the laws of the state affecting insurance companies more particularly life insurance companies This feeling was so decided that the legislature two years ago provided for an entire revision of the insurance laws. The gentlemen appointed to prepare this revision made their report to the last session of thelegislature. Other ques- tions respecting life insurances companies, however, occupied that session so fully that the revision was not then acted upon and will come to you with the unfinished business of last year. A somewhat careful examination convinces me it ought to pass At any rate, think the laws in respect to insurance should receive careful at ention at your hands.
 The more recent experience that we have had as to the methods in which some life in surance companies have been carried on and the ability of the law to grapple with these methods, has not tended to allay the feeling that before existed and it is becoming a grave enquiry whether the community is measuraby safe from dishonesty in the management of this class of corporations, and whether there are sufficient checks and chstructions to fraud in the means placed by law at the disposal of
  interests. The interest that our state has in insurance matters, the vast amount of capi- tai invested and the pride we have felt in the soundness of all our companies and in the rep utatiOn they have enjoyed, make it incumbent upon you to see to it that nothing shall bc lacking in the way of legislation to preserve the integrity of every insurance company and to keep their reputation above suspicion.
 COMMON SCHOOLS.
 The public schools of the state are in gen. erally satisfactory condition. Their number at the close of the last school year was 1647: the yearly average of school sessions was IFS 47 100 days the number of children between the ages of four and sixteen was 13S, 467; the number of children in the public schools was 119, sos the number of children in other than public schools Il, 121 the percentage of chil- tlren in schools of all kinds was 94 76 100; the total of school revenues from school fund state town and district taxes and other sour ces, was $1, 509, 159. 85; the total of eXpcndi- lures was $1 ,506, ,477.66
 The future welfare of our state, as well as of all free institutions, depends in so large 8 measure upon the character of our schools that their proper conduct should be of paramount interest with every good citizen. IL is d mat ter for congratulatiOn that our present cduca- tional system, marred by no radical defects is in the hands of judiCio administrators assist ed by faithful and capable teachers: and no cooperation which may improve their methods or increase their usefulness should be denied them.
 1 commend to your careful attention the full and valuable report of the board of education
 SAVINGS BANKS.
 There are in all eighty-six savings banks in the state, the same number as last year. Ot these four are under temporary injunction re ofr from the payment of any sums to depOsitOrS, and one is being permanently closed up. Tine total amount of resources of all kinds owned by savings banks on the first day of October last was S16 SPA, COG. 40, which is S4 24g ;};}2 33 less than the. year previous
 The past year has been one nf exceptional severity for savings banks Many of these tn- stitutions have been managed upon the theory that their business was the making of money for their depositors rather than the care of the small savings of poor people. They have per filed the safety of their investments 10 secure high rates of interest. To tle;e tie inn e S. shrinkage of values which has taken place within he last year or two has been well nigh fatal. In this condition it seems to me that all legislation affecting savings banks should be taken with great care. The bank commits sioners will, in thelr report, call your attention to some matters of detail in the duties of their
 
 which ought to be made in order to the efficient working of their department. 1 desire to have you give heed most particularly Co what they say in respect to the fees which the re- ceivers of savings banks may claim. The re- ceivers of the Townsend savings bank, in the report which they have made to the bank commissioners, as required by the act of M arch 1878, place the charges for their own services up to July 9, 1878, at the amOdnt Of S55, ,6S0- 1 This is almost $5, 1000 per annum for each of the three receivers, and in addition to this charge for their own services they report the sum Of $23, 027 80 for other expenses making a total of $79, 708 27 as the cost of closing up the business of the bank, and it is not ended yet. respectfully suggest that this is more than the depOsitors of the bank ought to pay If such scale of charges is to find favor in the courts or in the general assembly. depOSi- tors in a savings bank had better suffer almost any conduct on the part of the officers rather than it should go into the hands of receivers It is undoubtedly the duty of receivers to re ceive, but they have some duty, even after that. l unite with the commissioners in the hope that you will tlX upon some rule of CouI- pensation for receivers which shall be just tO them and not too bnrdensome upon tine dep0s- itOrs.
 There are four banks of discount continuing to transact bnsiness under the laws of this state. They have an outstanding circulation of $16:5S2. The official examination of one of them, the Connecticut River Banking com pany, disclosed that it had over due and sus- pended paper upon which the lOss was admit ted to be so great as to impair its capital. Steps have been taken to reduce the Capilai sufficiently to cover all possible deficiency.
 There are ten trust companies. Eight of these receive deposits and do general bank ing business. Two are wholly engaged in negotiating and dsposing of mortgage loans. l beieva they are all in a healthy financial condition. The Wimantlc Trust company is in the hands of receivers. 1 think you onght to provide that receivers of trust companies should report to the bank commissioners iE Inc same manner that receivers of savings banks are required to do.
 Whether or not the tramp is an inevitable evil IS perhaps an unsettled question. DF his existence there is no doubt, and, as he exists, he is an unpleasantly discordanl element in our social harmony. By what means, if any, he is to be eliminated there-from is a matter for your consideration. Dissolute and deprav- ed as he often is, in many cases he is the vic tim of misfortune and while it is, perhaps. impracticable for you to consider any but his material condition, it seems most desirable that a wise discrimination should be made between the classes to which he belongs Organza- tions for relief, which may be formed in cities and which have been in successful operation Tn some places, cannot be maintained in SpdTs,- ly settled districts, where he is most fearcl and where the sternest measures urt' der,apG ed for his repression Widely varying pians have been adopted in our sister states h. Rhode Island he is treated with kindness and providing he is willing to work. is furnished, at least, with the means If tarn.2g an honest living vii e in New IIamnS' ir Ae is arrested, and, on conviction as a tra up. is sent to prison for three years Is it moi poSsi- be that some middle course may he adopted. free from the objections to these. hut which shall tend to the amelioration of this vagrant class and the protection of society? comuj the question to you, confident that your united wisdom will, in some way, solve the social problem which at present the proper treatment of tramps must be considered
 BIENNIAL sEssToNs OF THE srIsI ATr-pr