The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-29

the laws relating % the taxation OF personal
property, and the consequent widespread
evasion OF the tax
3. The unsatisfactory work OF the annually
elected local assessors.
A. The collateral inheritance tax has been
for several years in operation in many States
IL is Just in its conception, easy CT collection
and proves great relief TO the general burden
of taxation.
special issue has been made Of the question
of exempting religious societies and educa
tional institutions from taxation, and you
have referred its consideration to special
committee with instructions to report at thii
session. For that reason refrain from com-
menting thereon at this time.
Savings Institutions.
Total deposits In institutions for
savings, Nov Ia. 1894. S67 4i4ll7 IA
Nrmher OF depostors ........... l3l,C2
Total depos in trust companies,
participation account, Nov. IA,
ls0l.... l................-......... xs,s29,2f AZ
Number OF dcpositors. ........... 5y39i
Showing when compared with the statement
for 1883;
INSTITUTIONS FOR SAVINGS.
Decrease of deposits. Sl,800,6J7 03
Increase OF depositors .........,... 1.0l,
TRUST Observation-Disclosures account:
Increase OF deposits ts............... $S69,544 OF
Increase OF depositors. .......... 23i
The following comparison win prove of In.
terest:
Increase OF total deposits in savings
banks and participation account
! of trust companies during 1892 s4,5s3, iG5 81
increase IN lS1.....' 323,Oel w
Decrease In lS94..... ............... 140,068 U.
These figures are not reassuring to those whi
are accustomed to measure the prosperity Of thu
State by the volume OF savings. IL il doubtful,
however. IL the bank statement at this time
can be trustc to afford any reliable indication
of the material condition of the people. While
the business depression of the past eighteen
months may offer an explanation OF the dc
crease above noted, IL is not unlikely that
larger amount of money mas been entrusted Z >
the building, loan and investment societies,
that have been unusually active here during
the past two years. There are, however, M
means Of verifying this latter slgge.t .tion A
decided disposition 90 change the channel of
investment Is, think, shown by the decrease
OF deposits In savings banks and the Increase
Uf deposits with trust companies.
State supcrvisio.. u insurance companies,
building ED benefit societies. loan and invest
ment corporations, Is becoming more stringent
throughout tha country. In this State, how.
ever, tn laws regulating such organizations
are N y efficient to prot sct our citizens against
careless or fraudulent ma9agemeuS, and the
community s subjected to the danger OF being
ON Nerrun by companies that are not allowed TO
transact businoss I'm other states. Building
free frCIa state inspection, and are not re
quired 20 make any repre- eltaticn Of their
financial condition or the integrity o. their
promoters. Our laws relating % insurance
are inferior in many essential fci Is TO those
which experience has prompted neighborina
commonwe hths 20 adopt. Moreover, the va,
ume of Insurance, busin>gs has so increasef
That u has b,comc imrrasticable for the State
Auditor 20 c,ve ~ the searching attention IA
mrts. From year 80 year he has asiei O. b. re-
hovci cl q slperint indenoy Of INSURANCE, ,, and
has suggestci that n s1o'.al dcpait nent be
crcats ald placel in charge Of person thor
ourhly familiar with the business. l most
cord ally cndorsc hsreQuest ami re- ,ommcnda'
ton. ard urre the prompt enactment OF such
legislator a VIII Eve the stat, sunicio1t con-
trol over al Insurance. benefit and invest
mont organizations. e. enable Ia, exercise Of
mcr' certain grardianship over the interest
Of frugal and Industrious citizens who cntru,t
savings 80 their kesring.
Education.
Throughout Tho year thoro has been steady
progress IN al branches Of educational work
The forthcoming report ~ the Commissioners
OF Public Schools win contain survey % the
cducntonnl work n the State during the quar-
ter of 2 century which has elapsed since the
Board ~ Blucltion was organized.
notwithstanding tho large sums OF money
annuity srcnt In the erection of school build
ings. iha accommodations do not keep paco
with the uccis OF continually incrca ing
school popuatiSn. Tho free textbook law ~
now operative ia every town and appears 90
have increased the Attendance and efficiency
of tho schools Industrial education shows
satisfactory deveioI m mt. excellent results
having b.cn achfevcd l,v inatttufir saz where