The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1901-12-25
INDEXES OF PROSPERITY.

In somewhat ecstatic phrase the
Free Press recently cited the Stats
tics of the auditors report respecting
the deposits of the savings banks of
the State as "an indication of the
general prosperity of our people. The
deposits of these institutions aggre-
gate some $40, 900, OO0-"a gain of
about $40, 900, 900 in the past decade,
an index of general prosperity the
contemporary AYERS, (which we fail
to appreciate until we investigate the
situation more thoroughly.
Increase in the deposits of the saw
ings banks may, or may not, be an in
dex of "the general prosperity of our
people," and it may be only an
index of change of situs of certain
funds. An Investigation of the stu
alton" would disclose a time when
savings banks did not exist in the
State, and when the savings or other
funds Of individuals were deposited
either in the traditional old stocking
or the hands of local custodians. The
savings banks have gathered in these
scattered resources. They have also
become the repositories of trust funds,
funds of estates, towns, corporations,
the moneys of business and profess
sional men, as we'll as of the individ-
nal money Garner These deposits, so
assembled, and made the object of Off
cial inspection and report, are not
necessarily ian index Of the general
prosperity of our people, The mil
porary sees an indication of general
prosperity, SO far rs there is anything
to show, may be largely congrega-
ton Of pre-existing wealth in new
and fewer places, the assembling be-
ing encouraged and stimulated by the
inducements the banks offer or the
privileges the State has seen fit to
grant both banks and depositors
Even q casual investigation Of the
situation would show that certain ex-
emptions Of deposits from local taxa
ton has contributed immensely to
swell these deposits, and, as the con-
temporary says, added to the thrift
of our people''-or certain of them
at the expense of their honor and at the
expense Of their taxpaying fellow citi-
zens. 1.-THE thrift of our people," as
thus exemplified, is the thrift of
small and very select class, the thrift of
tax lodging Of a heinous kind. The ex-
tent to which savings bank deposits
are an indication of the general pros
perity Of the State is a matter Of
some question, and the investment of
these deposits outside the State is a
phase of the same question.
The increase of the State in popula-
ton, its growth in material resources,
the development or preservation of it's
productive capacity, as shown by
census statistics or as disclosed to the
eye of the investigator, are surer
and more comprehensive index of Yer
mont's prosperity. In the last decade
the increase in population was merely
hollililhl Liz rural ItSlOlS utCIbbS-
ed, the manufacturing and commercial
towns increased enough to over bal
ance the decrease to a small extent.
The growth in inhabitants in the last
ten years, and the character of the
growth, were not entirely reassuring.
Vermont's primal resource, her for
ests, is being rapidly and recklessly
depleted by pulp and timber van
dals, and the individual woodland
owners are not excessively conserva-
tive in outstanding and protecting
their forest resources. In conse-
quence, agriculture is impaired, irri-
eating streams are dried up, the water
power of brooks and rivers diminish
ed or destroyed entirely, the climatic
conditions and the natural aspect of
the State injuriously changed, it's
prosperity in particular of funda-
mental Importance discounted for
possible centuries of time and physi-
cal damages inflicted that are irrepar-
able. The more thorough investiga-
ton the contemporary invites will dis
close the foregoing and many related
facts which are not found on the ledg-
ers of savings banks, and which afford
slight foundation for unctuous felici-
tation after a survey of the treasury
vaults of the savings banks.
Men make the State, but men are not
increasing in Vermont to an extent
that Justify hallelujas over this sign
of prosperity A landed area growing
in value, productiveness and pros