The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-01-03
PENSIONS.

There was an increase during the year
of those entitled to pensions under the
law, OF 1913, distributed rs follows: First
class, IS; fourth class (soldiers). 40.
There was a decrease rs follows; In sec
ond class, Z; third class, 3; fourth class
(widowsl, s; total, IS; making a net in
crease Of $50.
Total number of pensioners, 1921,
classified as follows:
First class, 100; second class. 240;
third class, 352; fourth class (soIdiersl.
/ ,844; fourth class (widows), 2,75S
The amount paid to each class, viz,
$64, $4S, $50 and SIG, respectively. Total
amount paid on account of the above,
S104, 1856
| renew my suggestion, made in for
mer report, Of an increase in the pension
tax sufficient to pay to these worthy
soldiers, and the widows Of worthy sol
diers, the full amount contemplated by
law 4 small addition tOathe present
levy would do so. 1t is tax willingly
borne by the people. To make the pen
sion tax on property cents on the $500
of value, and fifteen cents On the poll,
would derive fund sufficient to pay to
each soldier and widow on the roll the
full amount contemplated bE law, viz.
800 to the first class, $50 to the second,
$50 to the third, and S25 to TIE fourth.
BUILDING AND LOAN ASSOCIA-
TIONS.
With commendable view Of encourag-
ing such institutions in this State, the
Legislature OF 1895 passed an Act which,
while strict in its requirements of SOL
yency and honest management, was lib
era1 in its provisions as to rates charged
for the accommodations afforded. Such
organizations have done and are doing
great good by assisting class, always
the largest in any community, and spe-
cially deserving OF favorable considera-
ton, who are unable to obtain such assist
ance from any other source. BY the
weekly contributions OF the members OF
such an association a sum is secured
sufficient ito enable one or more OF the
members to buy or build a comfortable
home, thus making him a property hold
en- and taxpayer and enlarging his inter
est in his community and society. In
addition ITO his weekly or monthly pay
merit on his stock, interest ON the sum
borrowed is added to each payment; and
Ihus, by the time his stock has matured,
the debt on his home is paid, all at a cost
to him of about what he had paid per
month for rent OF less comfortable
home, sometimes less. From no other
source could money be obtained ON such
terms of payment and cost to the Dor
rover Tt is true that certain expenses
incident ITO the loan make it cost the
borrower a very small per cent per an
mum above the legal rate Of interest. This
additional per cent he was and is willing
to pay, could and can afford tic pay, and
yet receive benefits nowhere else TO be
obtained. This additional percentage Of
cost would make the full interest per an
mum something less than per cent,
though securing to the company or asso-
citation fraction only more than 6 per
centum. The usual range of profit TO the
associations throughout the United
States is fraction less than Z per cent
But our Supreme Court has decided that
any charge, by any method which in
creases the cost of loan above 6 per
cent ia unlawful, On account Of this .