Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1894-10-26
THE LEGISLATURE.
OUR MONTPELIER LETTER.
The Entertaining Story of a
Weeks DOings.

Savings Banks---UnhappY Rutland---
incorporated Districts Hearing---A
Portrait of Senator MorriIl---and
Many Othev Things.
From our special correspondent.
MONTPELIER, Oct. "a, 1894.
1t has long been the settled policy of the
freemen of the state to give to most of their
administrative officers several successive
reflections. The legislature usually en-
dorses the same policy in filling the offices
at its disposal by reGlecting those past in
cumbents who have been faithful and eff
cient. 1t seems unfortunate that two of
the most important state offices, now filled
by appointment of the governor, have
come to be considered as personal appoint
ments and are quite sure to be filed with
new men as often as we have a new gov
ernor. Take the case of Mr.. Martin, the
present tax commissioner. First appoint
ed by Gov. Dillingham; in 1883, he found
the then existing law so full of defects
and loopholes as to make it very difficult
to enforce During the legislative session
of 1890 he put in two weeks or more of
gratuitous service in drafting a bill embrac-
ing the best features of recent legislation
in different states, and so complete in all
its details as to cover every disputed point.
This bill he saw enacted into law at about
the same time that he saw the office
| going to a Deighbor of the new governor.
In 1892 as the friend and neighbor of G ov.
| Fuller he again received the appointment
and is now to be succeeded, it is said, by a
Burlington friend of Gov. Woodbury.. Had
the Office been elective from the time of his
first term he would doubtless have still
held it,
Another case is that of Mr.. Du Bois, the
present inspector of finance. All his life
engaged in the banking business, he has
had the added experience of several terms
in his present office and several terms as
state treasurer. 1t is doubtful if there is
another man in the state so well equipped
in every way for this position. Yet there
are several men working hard for the place
and his reappointment is said not to be Sc
cure.
Our Well Managed Savings Banks.
| In conversation with the writer Mr.. Du
| Bois recently said that the savings ank
depositors of this state can never fully ap-
preciate the debt that they owe to the Off
GERS and directors of the different banks
during the trying times of July and Augu st,
| '93, when in a few weeks the deposits
went steadily downward to the extent of
more than S1,300,000. Knowing that this
steady drain was liable to turn into pan
ic or run unless the tide should soon turn,
and that many of their best securities, al
though as good as gold, could not be turn
ed into cash, the managers of nearly every
bank went on meeting every call that was
m ade on them, thus soon restoring conf
dence and causing the tide to turn in
again.
Mr. Du Bois says that the law passed in
1892 requiring the verification of all de-
postors bank books, although on its face
implying possible dishonesty in savings
bank management, has proved one of the
greatest tributes that could be offered to
the integrity of the men having the banks
in charge. In only single instance did
the variations involve the slightest degree
of fraud. One Windham county treasurer,
he said, had kept in his safe for some time
a sealed package containing 500 in cash
duly labeled as amount over at a certain
date, which, with all his efforts, he failed
to account for till a certain deposit book
came in for verificaton when it was found
that on the date of his surplus he had en-
tered this amount on the depositor's bool
but not on his own. Many of the variation.
were found to be of this nature.
Mr.. Du Bois says there is now one bank
ing institution to every three towns in the
state and that there is strong sentimen
against increasing the number because tn,
field is so we'll covered. Still quite larg,
number of bills for chartering new bank
, have already been introduced, and it il
probable that good deal of feeling will b.
! aroused if the legislature refuses to TAX
favorable action. A senate bill whicl
, passed the house today giving saving
banks the right to invest five per cent o
\ their deposits in building to be used il
[ part for bank purposes and in part TO
f rental, has called out some protests froI
a depositors in different sections who assum
that the money so invested will come ou
{ of the surplus and thus affect their divi
r dends but the intent of the bill is under
r stood to be to provide an investment fC
# banks which will most likely be as profts
r BILE as their average investments, and whic
4, will enter into the assets in the same mar
d ner as any other property owned by then
# Judge Wymans bill limiting all saving
banks to four per cent dividend is pr
sumably in the interest of the small'
"a banks, which are now only paying thi
a. rate, as against the banks with large d
posts and corresponding surplus which al
now paying Al per cent. 1t is in lin
Is however, with Inspector Du Bois's sugge
c. tiOn, that the time has possibly come
AZ make four per cent rate the maximum.
A Day of Committee Excursions.
- The house was quite thin this afternoC
as the result OF the absence of the COZ
mittee on the insane on their visit to Bra
tleboro, the committee on military affai
on their visit to Fort Ethan Allen to vie
the proposed site for a permanent can
ground for the militia, and the visit of Il
Joint committee on game and fisheries
the state fish hatchery at RoXbury. II
last named institution is quite an unpI
tentious looking affair as one views it