Middlebury register. (Middlebury, Vt.) 1886-1937, 1890-10-10

qualifications, and, as a result, fewer teach
ers OF the required standard have been
obtainable, and these at largely increased
wages. While poor teacher at any price
is undoubtedly poor economy, still the
greater increased pay which teachers de-
mand under the new law makes burden
which falls too heavily upon the small dis
tricts in our agricultural communities. A
tax of 70 to 100 per cent of the grand list
for the support of schools in addition to
other taxation will not be cheerfully borne
by any community. | should very much
regret, however, to have these sugges-
tions construed as advocating return
to the old system. Our present school
law is, without question, step in
the right direction. While economy
should be our watchword in most branches
of our state administration, we should not
forget that reasonable liberality is the
only true economy in matters of such vital
importance as that of education Our
schools are not better than they ought to
be but such an adjustment of the burden
of their support should be made as will
enable the poor to enjoy their blessings
without being taxed beyond their ability to
bear. The law as it now stauds should be
SO amended as to still further equalize the
burdens of taxation for the support of
schools in towns where the district system
is still adhered to. The report of the state
superintendent of education is full of valu-
able suggestions on this subject. You will
also have for your guidance the reports of
the several county supervisors, and your
Legislative committees will get from con-
sultaton with the state superintendent and
the county supervisors much valuable in
formation touching this matter. In this
connection | earnestly urge the enactment
of statute which shall provide for the
furnishing of free text books. | know of
no single item of expenditure which, in my
Judgment, would yield a greater measure
of good for the limited outlay required.
MILITIA.
Your attention is invited to the biennial
report of the acknowledgement and the
adjutant and inspector-general. They
give the necessary details to enable you to
judge as to the expenditures required to
maintain the militia. There can be no
question that the condition of the National
Guard of Vermont has been materially i'm
proved during the past ten years, and now
compares favorably with the favorte regi-
ments in the larger states. The people of
Vermont have reason to be proud of the
organization, but just how far they are
willing to go in its support is for you to
decide. | make no recommendations. The
question is rather one of state pride than
of state necessity The expense of the
militia for each biennial period during the
past ten years has been as follows 1872,
S24,694; 1881, S37,457; 1856,
S36,44S; 1878, S4S,713; 1SS9-90,
S57SSl
SAVINGS BANKS.
You will have before you the report of
the inspector of finance, giving full de-
tailed statement of the condition of each of
the institutions under his charge, together
with valuable facts touching the workings
of our savings bank laws. The informa-
ton which he gives us, "That the tendency
to send money west and south has reached
its climax" will, | am sure, be exceedingly
gratifying to you; and yet we are confront
ed with the unpleasant fact that the invest
ments in mortgages out of the state have
increased from one and a quarter millions
in 1879 to seven and half millions in 1890.
The inspectors suggestions that invest
ments in foreign real estate certainly ought
not to go beyond the limit now fixed by
law" meets my hearty approval, and | am
as well as the interests of the depositor,
would be better subserved if the amount
which any savings bank could invest in
western mortgages was limited to 40 per
cent of the entire assets of the bank, and
recommend a statute making this limit. l
endorse all he says with reference to school
savings, and hope some action may be taken
to encourage thrift among the children of
Vermont.
| would call your special attention to his
suggestions concerning the Inspector of
western land companies. | believe the
law of 1888, making the examination of
these companies duty of the inspector,
has not resulted beneficially to our state.
| have no doubt that the inspector has
been as faithful in his examination of these
institutions as the limited time at his dis
posal would permit, but, from the very
nature of the case, the value of these brief
examinations must depend largely upon
the integrity of the officers of the institu-
lions examined. Expert book-keepers on
the part of INSCRIPTIONS officials make it
possible for all loan companies, both good
and bad, to come into our state armed with
a certificate of good character from the
inspector, and we have only to examine
the columns OF the state press to see how
quick these institutions are to avail them
selves of this advantage. One western
company advertses itself as A banking
corporation under the jurisdiction of the
inspector of finances of Vermont, and ex-
amined by him yearly" and it is well
known that the agents of these corpora
lions quite generally claim this for their
institutions. | submit that the state can
not afford to stand as sponsor for the sound
ness of institutions over which it has no
jurisdiction, and thereby open up new ave-
nues through which the money of our peo-
pie, so much needed to develop our indus
tries at home, may find its way out of the
state. The savings banks and trust com
panies of Vermont are the cnstnlians of