St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1890-10-09

| during the last decade while Vermont
| has been at standstill? If there is
| to be a legitimate and attractive
| field for home investment the state
must grow; its resources must be
freely developed.
What the inspector says in relation
to taxation also merits attention.
He does not believe that the savings
banks can bear a heavier burden OF
taxation than they now do and he
makes this unanswerable point,
which seems to us to condense a
good deal of argument into a few
words:
But however that may be, there is
no justice in proposition to tax to
the utmost the meagre savings OF
children, women and labOring men
while the family carriage, household
supplies and furniture to the value
of $500 of the capitalist escape
entirely. 1t is estimated that one
thousand millions of property in
Massachusetts escapes just taxation
through defects in the laws and their
execution, but there is no device by
which the savings of the poor depos-
itor can escape.
The subject of school earnings is
treated by Mr.. Greene with warm
approval. So valuable is the sugges-
ton that we quote:
On February 1, 1856, the Rutland
graded schools introduced the sys-
tenn of school savings, under which
the daily savings of the pupils are
retained by the teachers till the end
of each month, when all individual
amounts of so cents or over are
transferred to the Marble Savings
Bank and credit given there at once,
a regular pass-book being issued i'll
the name of each pupil. To June 80,
1890, 6S4 accounts had been opened,
aggregating without interest So $500.
IS, all of which would very likely
have been foolishly spent and wasted
but for the opportunity and incer-
tives to save. This system has the
endorsement of the National Bureau
of Education and other educational
bodies, who wisely look upon the
habit of saving as an essential part
of practical education. 1t is grad
ually making its way into favor in
this country and some sixty school
savings banks are said to be now in
existence. England, France, Ger
many, Austria, Italy and Belgium
have long had the system i'll success
full operation. In 1882 France had
over 100000 to the credit of her
school children, while the city of
Client, in Belgium, has a record Of
over 100000. The system is com
mended to supervisors, school boards,
teachers and savings banks No
additional legislation is required to
make it applicable. A slight modifi-
cation of the rule fixing the mini
mum of deposits is justifable for SO
worthy an object. The success in
Rutland is largely due to the we'll
efforts of Mr. Edward l..
Temple, superintendent of schools |
and treasurer of the Marble Savings
bank, who will be pleased to give
any information or assistance in his
power to those who may wish to |
make trial of the system.
Referring to foreign loan companies |
the Inspector gives this bit of advice,
which may be worth needing:
| would advise holders of loans |
purchased of those who promised to
pay the interest, but now refuse to
do so, to hold on and investigate,
keeping up the taxes as
safeguard against loss of title.
Other companies or responsible indi-
viduals may be induced to manage
for them, and time and the eventual
development of the country may
even up the account. 1t is case
where patience has opportunity to
10 ifs Derfect work