The Republican journal. [volume] (Belfast, Me.) 1829-current, 1904-08-25
STATE BANK BUSINESS.
Increase IN Assets Of State
Banks Since 1882 Amounts
to $66. 314. TAT. 70.

It costs more to run the banking de-
partment of the State than it did in 1882.
but it would be fair to look at the figures
and see whether the State is doing any
more banking business than it was in
1882. We say this would be the fair thing.
Therefore, it is the thing which the deIn-
ocratic press does not do.
The democratic press says: TT has
cost more; therefore, there has been ex-
travagance." Now the democratic cam
didate for governor is maintaining far
more expensive printing plant than he
was in 1903, but it would be fair in that
connection to state that in 1903 MI. Da-
Wis was publishing a weekly paper.
whereas he is now publishing a daily
with full Associated Press service and all
the trimmings.
But to go back to the things that are
realto the States banking business
we will take up the story Of increase and
show that it is not alone confined to ex-
penses of the office. The figures will
show that while there has been some ne
cessary increase in the administration of
the office there has been remarkable
and all-overshadowing increase in the
volume Of business of the Office.
In 1882 the department had supervision
over 81 savings banks with aggregate
assets of s31, 1870, 1854 In 1902 the de-
partment supervised the work of 81 saw
ings banks with assets of s77,S53, SIS. GA,
Is trust companNs with assets of 81, 635,-
941.7O and "a loan and building associa-
tions with assets of 81, 1854 ,62660, making
aggregate assets of s97,744 1894 This
little increase of 1914, 747.70 in the bank
ing business to be examined must have
entirely escaped the notice of the demo-
cratic press.
There was another increase in the
banking business which was SO small
that it appears to have escaped demo-
cratic notice. This is the matter of tax
eS, which have increased on State bank
ing institutions since 1882 from 203,55001
to 1919, 1855. This increase amounts to
only 1878, 1864, so perhaps the democracy
couldn't be expected to see it.
The democratic papers also forgot to
mention the fact in 1882 the banks COM
puted their own taxes and sent the state
ment direct to the State treasurer,
whereas at the present time the exam
liner obtains returns from all the savings
banks and trust companies twice each
year and fixes value upon their secur-
tiles as the basis for the tax laid by the
State assessors.
The democratic paper also forgot to
mention the fact that the labor incident to
foreign banks and corporations endea-
voring to do business in this State re-
requires nearly the full time of one man.
And the democratic papers forgot to
mention the fact that the comptroller Of
currency of the United States calls for a
statement of all State banking insttu-
tons once year. and that this report
alone requires more actual labor than the
whole work of tabulation in the official
report of the department for 1852.
In its unique list of figures showing
the increase of State expeditures in 1903
over 1882, the Waterville Sentinel in
cludes, in 1908, salaries of county attor-
neys, stenographers to the supreme
court juctices, and reporter of de-
cisions, total of $4,000, none of which
are on its list of 1882, though it is quite
evident that county attorneys existed,
that courts had stenographers, and that
decisions were reported % years ago, and
that the people paid for them. The
voters should set small store by such
specious figures. They are neither cor
rectly comparative nor based on solid
considerations.