Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-01-26

cases, but ordinary examples of the ser
vice our local savings institutions are to
the people of the State.
Our savings banks are quasi public m
situations, created by the State, and are
under its control and supervision. They
are strictly mutual in character, ana
aside from salaries paid to treaSurerS
and other necessary employees, ana the
incidental expenses of management an
earnings are distributed among the de-
positions This entire expense TINS year.
including rents paid for banking rooms,
WAS about two mills on each dollar OF
deposits. They have paid the state dur
ing the year, $3S2 2Si.21 in taxes in addi-
ton to municipal taxes. ThcY furnish
nearly - per cent. of all the State rev
enueS. During the twenty-five years in
which they have paid taxes directly to
the State, they have contributed $6.Sl3
019 - to it's revenues One-halt of this
amount is set apart for the maintenance
of our public schools. from which source
largely We have been able to build up
and maintain a school system that has
given our State high rank in educational
matters Never before has the national
government proposed to interfere with
the inherent right of the states, and the
municipalities therein. to levy taxes on
the property of their citizens. Deposits
in Il postal savings bank. would, when re
| ceived become IL part of the funds of the
national government and must. therefore,
necessarily be exempt from taxation. II
IF I.nncfts
ti,nrteI from ol1r local institutions by
~ ,'ranos1 nnsta, system olr State
u",,l1 he derived of :, material portion
if its lust income. Moreover. to make up
the deficiency for revenues thus lost
other property would be subjected 10 Il
Us e ana tho T,,bIir ,vo1ld be meas
,,ad hv mo sucr.es of the postal system
,rTo non,L. nf The state have received
| e.nt,, an t,,,io,,s h,nkinr institutions
ANN, th H,nr 60 40 7G7 u in interest
w, W., ''t9 ,1,. 49,, +hni,. .r,,lr,,latod saw
INV . "a ~ NV I;,er.,,, hatw.eu mis- and
iti59. n, ~, ,n,,arn,nent nroposes to
.nc ~ ~ nostal system is established
| Pos,, - -. ,i,o, q oon aoo annually I'M
w ~ ~, 49,. nn,ol,nt Of denosits
ga NJ n,.nr,Yn.nt system is urged as a
it,a,9 81 safat, ia denositors. While it
-; ,,.,a maj in some instances depositors
| 49,, -. MOT Win losses in local institutions
| No -, o.ornyata of these for the past
| t,,' W. f,.a ysars is trit'inc when COM
! da ;,h tho ,mount of funds handled
na would he hut n small sum compared
n.;tb ,hs 81 0hD lo0 loss in dividends under
~, ~ non,aI service for one year The To-
! onI inst;,,,tinne therefore serve the in
ai1.i,iiai dnnositor as well as. or even bet
| ,nr han The government would, and. at
! 10 can,a lime are much more beneficial
"a rho state and public.
| r. is therefore clearly apparent that in
| :. a;nat ttis Question the interests
~ thn m1b,ic pcnerally--as affected by
| no disnnsition of these funds when col
{ iac,a1-must he regarded. as we'll as the
| ;ntarnets of the individual ,iepoSitor. The
nn,io,. If tho government should be 70
| ihaoisia,e for the people as a whole and
| - -, tba INTEREST Of th, individual So
rar as Tho nublic IS concerned. the utility
~ savings hanks lies more in the future
,,sa to which their Accommodations are to
| - a,q,,1iod tban IA rho habits of thrift
,n,,,pbt individI,a1 denositors
~ - claimn1 thar the savings banks in
! ,bis country win denosits amounting to
| varv nearly so0n 900 600 do not afford
| s1Aicient onnortunities for saving: that
| ,bas, nccunulations wo,lla be greater
| unJ.r come additional or different SyS-
tam, IF this he true the nroposed system
| uni,ld of rourse collect II much larger
an"nnt dnrinp the next few wears. The
| ,,,,,l,. ,.anitai of our neonla would then
| he ~ tbr mercy of nolitics and under po-
| iitiral control. one administration. com
| roitta1 To tho building of all kinds of
/ n,,lllir works and other pNtraVagant
| nynn,di+,Ir.s might hiring financial ruin
| NO., No country I'm any event these.
| f,,rd. ,vorId he siihiert tn the changing.
n,'ii,,. Of ny,,1- nov administration com
| i,,,r ii,,n nnrnr n wnuId ada 10 the dam
| 80, ~ lia,urbapn..s IL, financial a,d bi1si-
| -. - ffni,,. accustomed h,. n4tion,l mol
-. Ia ,,.,in,,ol .Inr.fnpC
| ,rhi. o,'n,r, with ite ir,n,..ns. trrri-
| +or,. .,,1d nnd,v..lnn.,1 r.sn1I.r.~ .rfor,ls
| ,0;,,. l,,,,ortunitirl for Investment In
t,1 f n.,,tra1iair,. ana, s,,,,,h,s rnnit5I
T,>n'. = ie i,,1,tn7t.,,,t 49, IL he used
! &; I,,..I,,i,,. ,b,,so ,,so,fro.e entfiti.nt
.';,.,1 r.',1 rIu.a,.. H.. found ir H.. laror
f,ti,.. ,,,,,... f,,. ANY l.oitin,t,t,. ,.,t,t
,,ris'. ,.I,il. II i nft,n nfri15lt in snu,st.-
| r. .,,td .nr,,,I,,i+je 10 nL+.,i,, evan
snail SIMS fnr, Inc most promising nm
! 1.;, ~ r,,.,.. ,..,,, ,,1li1,.1 Ia. +bo
! e,..r,,,,,.,,t II iy IiHi.,,It ia n,l,,s+an Il
T. -. .,,,i+nl - +. h.. ,hto{,,ol Ga, -,ca il,
,i ,.,,,,ta sections Of nm ronntr,. I'm.
- a. ,,,.,,,l,es,I ..,...,.,,, - , 40,
| ,,1i ~ iii,l ~. ,.,,i,h ~, ,i,,,,.,ii,1tl
. ;i' :" ~, itS, 70 H. i,,., i',i.j,',
| tif ~ 1 It, "-,,.1o,4 -; ,,l,
'i ~ H. t'% !. .,,i5 III 49,,
.;'m 49, ,o,l.I ..,,I ,,,...,,,.,;, - 6
! 1, i'''i| ' '' ' ''' -
it ,:i ..,..,.r, L.. o,l.,,,,..l .t., A..
ny f al ,iIt,l Iii ~ W va
t"'7It''n ~ .t'' 1u'iIo ~ " IA ~ :;
ii.,t,, =, 10 I,s,d ,bat .h. ;r.t
t."tu'" ~ ~ 'rt'p'' ~ -"
ii''ltt - "i'0 49," $3.50;
| w H''''' ~ ~ ''' 80
~. , .iit, ~ ''.t, ~ " -
. va ~
~ "i'9 'tt 50 90 nm Nv .,,.'"l' 't,'i''
~ e"'i!'"' Wy .. 49,, ~ 80, ~V"i" ~
l%IE' i''itaSr III .alc ldtlomdl "epI,
on""!u tlc EoNtIii ih unueIt"ht 10
i'N'st lilt az I' VI " 'oHldl ~ >
t'lI III Se4!.I a. - - it'.' Ni'o t.iH il'tui
an" hiasi'l' W. ~ ny 'ioli9 "ouiu
IlectSSit"tv piacilI tlrsin Nilt 'ii, ial 81
liiuilieipdllties aiI,' .oI i'oi 'lill9- IT t"ulu