The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-12-28

Agricultural and Mechanical College;
Prof. f. A. Alderman, of the State
University; DIR. Il. II. Lewis, of the
State Board of Health. and others.
The first discussion of the day was
on Local Taxation for Public Schools.
Introducing Prof. f. \. alderman,
President Toms said this was the
most important question now before
the people of the State.
Prof Alderman made stirring
speech, speaking of the great need of
the districts outside the cities, and
pointing to this as the only feasible
method for securing public schools OF
such a grade as the times demand.
He led in the discussion, in which
President Winston, Prof. Hill, and SUI
perintendents Howell. Thompson. Man
gum. GrimsIey, Common. took part.
President Winston introduced this
resolution, which was unanimously
adopted:
Resolved. That ii committee of
three be appointed by this association
to act in connection with State Super
intendent Scarborough; President Me-
Iver, of the State Normal and Indus
trial School: Prof. Alderman, of the
State University; and Prof. Hill, of
the Agricultural and Mechanical Col
lege. as a central executive committee
to take such steps as it may deem best
for the successful conduct of the cam
paign for increased local taxation for
public schools.
DIR. WINSTON'S ADDRESS.
President Winston's speech was the
event of the day.
The subject OF Dr. Winston's adj
dress was Popular Education in Rela-
ton to Wealth" He said that these
things are requisite TO The production
of wealth: land or other natural OBJ
jects, labor and capital. The abund-
ance of these requisites and their eff
cheney determine for any country the
amount of wealth it is capable of pro-
ducing. There is no way TO increase
wealth except by charging the guam
tity, or improving the quality OF land.
labor or capital.
"In North Carolina the most abund-
ant requisite of production is land;
but its efficiency is small. The next
most abundant requisite is labor. but
il too is lacking in efficiency. The least
abundant requisite. but by far the
most efficient, is capital What our
State needs, therefore. is more capital
and more efficient labor; for the eff
cheney of our land depends upon the
labor ard the capital applied to it's
improvement and cultivation
But uhy do we lack capital? And
how shall we get it? Capital IS the
result OF saving. 1t is wealth saved
from consumption and reserved Tor
future production. Wealth may come
from a thousand sources, but capital
comes only from saving. We have
little capital. because we save little.
I'VE are the most Vasteful people on
earth. The greater portion of our la
boring population scarcely know what
saving means 4 small percentage
have the saving instinct; but lack of
banks. or safe places of deposit for
small earnings, prevents the habit Of
saving What inducement is there for
wage-earner ia the country, or a
house-serVaut in our average village
to save five or ten dollars during the
year? Where would he keep it? He
knows not where to keep it. nor how
TO invest il. and therefore he does not
save IT, But even ten dollars year
saved lV every laborer in the State
would soon create "A capital fund suffi-
cient to start every industry necessary
to develop our resources. The estab-
lishment Of Postal Savings banks by
the National government in connec-
ton with each money order postof1ics
would, in my opinion, more than
double the capital of the State by the
mere stimulus giving TO saving in less
than generation. This beneticent
and far-Sighted measure, formerly
recommended by Postmaster General