Daily Kennebec journal., 1901-02-28

ings banks of this State. Mr. President
the policy which was established regard
ing them and which has come down to
and beneficent policy. 1t encourages
thrift. habits of saving and industry
among the poorer class Of people The
wealthy people can take care of them
selves 1t is not true that the wealthy
men of this State or of any other State
resort to the savings banks to protect
their deposits and to take care Of their
funds. They can do il elsewhere. The
savings banks rest upon the broad ground
that they furnish to the poor man, to the
iaborcr throughout the State of Maine, an
opportunity where he can from his week
ly wages or his monthly wages. when he
saves a little money,-wherc he can step
into a savings bank and deposit it from
week to week and from month to month
as he receives his wages, which he could
not do if il were not for the existence of
thse savings banks. | come from man
ufacturng city where there are a large
number of laborers and working people,
men who earn small wages; and know
that with our people il is "A great encour-
dustrv among the working classes. II
anybodys doubts it. let him stand at me
doors Of one Of our savings banks on an
evening after ii pay day Of our mill cor
porations and see the class OF people that
swarm in there to make their small de-
posits of money. where they save up
little money from time to time which
they perhaps are compelled to draw out
in case of sickness or ncccssity.-and that
is the basis, that is the idea upon which
savings banks were founded in this state.
They rest upon that broad ground,-that
il is the duty Of the State,-onc of the
duties Of the State to encourage habits OF
thrift, economy, saving and industry
among our people: and ! undertake to
say that there has been no institution in
the State Of Maine which has ever done
a better work than the savings banks in
that respect And it is said that they
are not taxed. Every man who has ever
given this subject of taxation any
thought whatever, knows that it is within
the province of the State to make cassi-
iications Of property. / know very well
that it is for the purposes of taxation.
We know very well that there are GER
tain classes of property which are not
taxed by municipality. ana which are
only taxed by the State,-in other words,
that there are certain classes Of property
upon which a municipality does not levy
4 tax. and the income which is received
m il. fur the purpose Of The govern
ment; ana an things Of that nature are
levied on BY the State itself, and there is
no such thing as municipal taxation. It
is clearly and properly within the
power of the State to make such
classification as those OF which
| speak. and savings banks
are of that number And it seems to
me entirely just and proper that it
should be so. what call what demand
has ever come up to this Legislature,
or has even been put forth in this
State which calls upon the municipali-
ties to assess the savings banks de-
posits of this State for municipal taxa
ton? We know very well that. in other
states, they are exempted entirely.
Now why? They are not ignorant-the
legislators of New York and other
states where they are exempt from
taxation are not ignorant men. There
must be a principal upon which they
have done this: and that principle |
apprehend is that it is the duty of the
State to encourage these institutions;
and it is far better for the State that
this money should be aggregated in the
savings banks by the poorer classes of
people and these habits of thrift and
industry encouraged. than that the
small pittance which the State might
recover by assessing a tax upon them
should be received: and | believe that
IS the foundation upon which they rest.
| said at the outset that | did not
expect to be drawn init any discussion
of this question. but it seemed to me
that the remarks of the senator from
Knox were 50 unfair in their reflection
upon the policy of the State in rela-
ton to savings banks. that | could not
allow them to pass without some re-
sponse to these suggestions which he
makes. OF course he makes the out
cry that if man has $1,000 in a saw
ings bank and his neighbor has a
farm that cost $1,000. that il is unequal
taxation. In one sense perhaps il is
so: but it all rests. and runs right to
this original proposition that it is with
in the power and duty-and | believe
the proper duty OF the state, 10 en-
courage these habits of thrift and in
duStry by depositors of money in the
savings bank: and it is their right and
duty to eXempt those deposits from
municipal taxation. believe it is
right and proper to do SO. | do not
believe that they are the resort for
deposits of rick men; but they are the
resorts of people of moderate means
who there gather up from week to
week and from month to month their
small deposits.
Mr. STAPLES of Knox: Allow me to
ask the senator from AndroscOggin a
question. Do you believe that a ma
iority of the 4599 depositors of over
$1,000 that being the wealthy men of
the state would be in favor of eX-
empting them from taxation? If YOU
are satisfied in your own mind that
a majority of those depositors. that is
Of the i5g9. the number that have in the
savings banks deposits rising $1,000,
were wealthy men. would you vote to
EXEMPT them from taxation?
Mr.. WHITE from AndroscoSSin: DO
not believe such is the fact, hence do
not feel called upon to answer the
question.
The PRESIDENT: The Chair will
state the question. This matter comes
up on the question of the acceptance
of tha reporA of the committee. This