Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1905-12-28
What OUR NElGnBORS SAY
Advantages Of Savings 1nstitutiOns
Compared with National Dnnks.
Wrom ,hc Randolph tIcraid.)

At intervals for some time, through tn,
columns OF his home paper. Mi. ~
+. McClary of Windsor has been dca'
ms hard blows at the national banks
in Vermont that have so-cailed savings
departments. Mr.. McCiary Is man OF
strength and prominence IN his town
which he has represented once. at least
in the Vermont House, serving there as
Il member of the committee on banking
lie is treasurer If the Windsor Saving
bank, an institution with assets of al
most "A million dollars. Mr.. McClary's
standing Is such, therefore. that what
he says deserves n respectful hearing.
The points that he makes against saw
ings departments of national banks are
That they afford opportunity for un-
limited dishonesty and tax lodging, in
asmuch as they make no returns of their
deposits to State officers.
That in consequence the state Is
heavily dcfrauded. the national banks
paying no state corporation taxes on
their deposits.
That from business point OF view
II is unfair to compel savings banks and
trust companies organized under State
laws to pay the corporation tax. while
requiring nothing from national banks
that engage in the same line of work.
That people who deposit with saving
banks share in the profits, while those
who patronize national banks receive Il
lower rate Of interest generally. and the
profits go to the banks Themselves.
That national bank officials are given
wider latitude in making loans to them
selves than those of savings banks. and
that consequently those who ontrust their
savings TO the former arc taking hazards.
That tho restrictions us 10 invest
mcnts are also liberal to the point of
danger in tho case of national banks.
And other points Mr.. McClary makes
with force and dircctness.
Now ii is quite possible that the ne
tionnl banks. many Of which in Vermont
have savings departments, are in position
10 make a complete answer. ii is possible
that Mr.. McClary being saving bank
official cntertains some bias in the mat
ter. The point is that II tho national
banks have a defence the time is ripe
for them Ia make 1t.
! MIR McClary intimatos that an at
| tempt will he made to prevent national
banks from advertising or in any way
Iusing the word savings in connection
with their business by legislative enact
mcnt. and the public would welcome
| further enlightenment on tho subject u
order that it may deal with the cast
Iintclligently when it comes IN
|VERMONT's SECONDARY SCHOOLS
(From the Montpelier Journa)
According to n list recently compiled
by Mason $. Stone. state superintend
has yNTn
ent % secondary schools of which Is are
high schools and is are academies. Tn
der the State law any school that is no
supported by public money is an acad
envy. as that the term as used include:
lall recognized schools Of the high schoo
grade whether their namc is seminary
academy or institute.
At the present time nearly az man,
different courses as there are second
ary schools exist. But this difficulty i
soon to be remedied if present plans arr
lcarried out The committee appointed a
the annual meeting of the Schoolmasters
club on October, to consider this matter
lis at work and expects soon to rcacl
definite results
This committee was appointed FOR tn
purpose of giving definition to the tern
!
mont statutes and of arranging for
uniform course of study in all thes
schools. The work of planning tn
courses has been appointed among tn
individual members of the committee
each one to be assigned particula
branch of study to plot into a course.
These plans will be considered at
meeting of the entire committee that wi
| L.
meeting it is likely that the full cours
will be fixed upon and the report to tn
Schoolmastcrs' club be prepared. TIL
committee is made up as follows: TIL
, Hon. Mason s. Stone. eX-offco. Prir
J. I, Algcr. Vermont Academy, Saxton'
River. Prin. A. f.. Tuttle. Bellows Falls
Prjn. w. p. Abbott Proctor.
SYSTEMS OF PENMANSHIP.
U-rom the Montpelier Argus)
The vertical style OF handwriting
being RELOCATED TO the rear. As 500
as possible it will be supplanted in I'll
MontpAlier public schools by a medici
system. a half way experiment betwee
the Spencerian and the vertical. tn
same action has been taken in I'll
, schools in Barre. and other schools
: Vermont will follow suit. Througho,
New England there appears to be an II
clination to drop the vertical system
The principal objection TO 1t Is that
: lacks individuality. Every child appear
to scribble the same hand. Not long as
large company in Vermont had occi
sion to employ number of students wr
| ing the vertical system. When II
checks went to the bank the endorsement
| looked so much alike they caused SON
confusion. The vertical system may M
I be the kind that answers nut II mas or
rood thing in its favor ana that