The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1886-10-13

the close of the fiscal year, July 3lst last,
the state liabilities were as follows, to wit:
Due towns United States surplus fund.-. a3,9a762
Due soldiers, unpaid ances............. S,55746
Due Agricultural College fund represented !
by state bonds falling due June LIST, 1890, -, .o,,o
interest payable semi-annuallyl .."....... l35,bOOOO
brary building 227Oe55
Of 1854 l9Oe25o
Total .sls9,224l3
And the resources are:
Cash hand and in banks sl6O,974@
Estimated amount tax from corporations - ...
Estimated proceeds from sale Of balance Of
Huntington fund securities .............. 100000
Total ..... ..... s3I5g74.97
The following named items in this state
ment of state liabilities, which are not re-
garded as subject to present (though to pos
siby future), call and for which no present
provisions need be made, are the
United States surplus fund.............. sl331762
Unpaid balances due soldiers. S51l4
Agricultural College fund. ............ l35,5OOOO
Which sums being deducted from the gen
eral amount of liabilities leaves the same :, oo =,
subject to be paid presently: 4I69O5
showing an excess of available resources m, ~, %
for the present year over liabilities OIL. 3H2O5R
A more satisfactory exhibit of states
financial standing can hardly be desired
From the report of the inspector of finance
it appears that the whole number of depos
itors in the savings banks and trust com
DdnltS OI Ine Sldle y uUt DOtu ldSI was ~
453, an increase during the year then ending
of 1913, being 1916 more than there were
two years ago. There stood credited to the
depositors at the same date S14 ,253, 963.47-
showing an increase in the amount of de-
posts during the past year of SOD, 13l 81.
The average amount to the credit of each
depositor shows "A decrease of S4.63 as com
pared with 1885. The recent act taxing de-
positors in excess of 81 800 has from its pas
sage caused a steady reduction in the num-
Der of heavy depositors, and yet the actual
number of depositors has steadily increased.
This increase in the first three years after
the passage of the act was Abs. The prin-
ciple that savings banks were organized for
the purpose of protecting those having
small savings to deposit rather than to fur
nish depository for persons of wealth.
finds encouragement in the act referred to.
The suggestions of the present inspector of
finance looking towards a healthier conser-
vatism in the management of these lnstitu-
lions deserve, and doubtless will receive,
the thoughtful attention of the Legislature.
The tables supplementing the detailed re-
ports of the various banks, showing sum-
mary of the different classes of assets and
liabilities, and comparing their present con-
dition with that in former years, will be
found of interest to those concerned in the
savings banks and trust companies of the
state. | commend to your attention as a
valuable summarizing of their historical
| financial condition for the periods which
they cover. The report of the commission
er of state taxes has not at this writing
come TO my hands, and | therefore leave
| the same to be treated of by my successor
| desire to state, however, that it appears
from the treasurer's report that the corpo-
rations which are subject to taxation uuder
the corporation tax law have paid into the
state treasury $403, 62S 6S during the last BIZ
ennial period
RAILROAD COMMISSIONER.
The report of the railroad commissioner
is before you, embracing such detailed re-
ports as have been made by the railroad
corporations therein named. From this re-
port, as well as from reports of his prede-
cessor, it becomes manifest to me, that I'M
der the existing laws bearing upon this
matter the commissioners is not clothed with
authority adequate to attain the purposes
! for which this office was created To the
suggestions and recommendations made by
| the commissioner for further legal pro-
visions, to the end that this Office may be of
| practical use to the public, your attention is
invited.
THE NATIONAL GUARDS.
! The organized military strenth of the state
remains unchanged in its composition ex-
cept that Company e of the regiment has
been mustered out by reason of expiration
of term of service and the vacancy has been
supplied by the organization and mastering
in of a company at Barre. have attended
| lne general InuSltrS Vi IHe bTOOIS db ol. AL
bans and Burlington, and also the officers
drill at Rutland To the official commune
cations and correspondence of this de-
partment. as well as to proper knowledge
of its condition and value as reliance in
the day of possible need. l have given care
full attention throughout my official term
and have on several occasions in the last
ten years witnessed and proudly noted the
bearing of our state guards as they have
been on duty in competition with the troops
of other states. In soldierly qualities of
! both officers and men l believe they stand
first, or among the first everywhere. AS an
evidence of the zeal of these young men in
this service of the state it is well to note
that at the general muster six companies
had every man on duty, and 97.45 per cent
of the whole command We're out. They
| have no lack of good equipment except in
rims. The rife, as well as the guns of the
Battery, are out of date, and are such as
have generally been discarded and replaced
! by arms of modern pattern in other states
/ believe that the regulation arm could he
placed in their hauds by properly directed
effort on your part without large expense
to the state The reports of the adjutant
and nspector-general and the quartermas-
! ter-general, with accompanying reports,
have already been transmitted
UNIVERSITY OF VERMONT AND STATE AGRI-
CULTURAL COLLEGE.
This institution has attained degree of
prosperity and good equipment in the last
few years beyond that of any former period
of its history. Though originally intended
as an institution of learning under the pat
ronage and fostering care of the state, yet,
unlike other universities it has been left
to rely mainly npon its own persistent eff
forts and the liberal generosity OF its
alumni and friends for the founding of
scholarships, the erection of its commo-
dious and tasteful buildings and the fur
nishing of its choice library collections.
The new library building, erected at cost
of S1l5 000-the gift of Hon. Frederick Bill
lings, an alumnus of the College-has been
completed and opened, together with its
invaluable collection, also the gift Of Mr..
Billings, to the University of his state. Since
the last session of the general assembly the
president of the College, who is er-odicio a
member of the Board of Agriculture, and
Professor Cook, the state chemist, have been
of much service to the farming interests of
the state under the auspices of the board. In
connection with the agricultural colleges of
many states experiment stations have been
ordered by the legislative authority. Some
measures in this important auxiliary to sci
entihc crop-rasing may be invited at this
session.
THE INSANE.
BY invitation l met the honorable board
of supervisors of the insane at the asylum
at their October visit in 1885 Pursuant to
the amendatory acts of 1882 and 1884, several
most economical and salutary regulations
| haVp hppn intro1upau Inv the hoard with tina