The daily morning journal and courier., 1907-01-10


 lieve that it is quite important for the State of Connecticut to place all bank ing institutions of every name and na- ture under the laws of the state, ac- cording to the class of business which they are doing. If trust company or any other banking corporation maintains a department of savings, that department should be kept abso- lutely separate from other parts of the business. In the case of savings de- partment it should come under the law governing savings banks in regard to investments and in every other way be subject to the regulations under which such banks do business,
 In order to determine what consti- tutes a banking business, the law should be so clear that any person or any concern that receives money on deposit and pays out sums therefrom by check or otherwise shall be held to constitute bank so far as supervision by law is concerned, and as such shall be under thhe direct control and sub ject to examination of our Bank Con- missioners.
 Trust companies in this state had on deposit in savings departments in 1904 the sum of $3,629, 435.35. Tn 1905 they had $4,292.41554, and in 1906 they had $5,S64, ,S11.40. The savings banks of this state showed the following enor- nous increases in deposits-in 1904 the sum of $S,977 O4462; the next year $1S,- 472,S01.S9 The total increase in saw ings deposits for three years was thus $96, ,296, 7S1.S9 The significance of that is better realized when one knows that in October, 1866, the entire savings de- posits of the state amounted to only $31, ,1SC,39c.
 It is reasonable to assume that since trust company and savings bank de- posits have grown so vastly in the last three years that other sums large in the aggregate are on deposit with so- called private bankers, many of whom are men of sterling integrity and high standing in their communities. But since it Is universally recognized that 1t is proper and necessary for the state to safeguard depositors in char tered banking institutions, how much more necessary is it to extend the ben efits of such protection to people who have entrusted the results of thrift and self-denial to the keeping of indi- viduals or firms doing business without charter and without periodical investi- gation.
 Insurance.
 Connecticut has very extensive in- terests in the fire and life insurance business of the world. And innumera- ble communities rely on the integrity of our states chartered corporations, That confidence is well founded as stress of disaster has conspicuously demonstrated In all the turmoil of re- cent insurance probing there has been no smirch on our great companies, a fact to which as state we point not only with pride bat with community satisfaction. The fact that Conneeti- cut insurance companies were able to stand the strain of paying eighteen millions of dollars in the recent San Francisco disaster, and have come out of that test with their credit above par 
 and their feet firmly planted on the rock of financial solvency is of great credit to the management of those companies.
 Employers Liability Act.
 Many strong legal minds differ on the provisions that should enter into a bill to regulate the liability of an em- tN n1A b question ramifies into every depart ment of manufacture and labor and 1 would recomment that 1t be referred for investigation to a special commit tee to consist of an employer of labor, a representative of labor, and a law yer, none of whom should be a member of the General Assmbly Such a com mfttee should hold public hearings and make a report of it's recommendations for action by this General Assembly Your Judiciary Committee is so bur dened with business that l realize that 1t would be almost impossible for that committee, which should consider this proposition otherwise, to give it the time and attention that in my opinion 1t requires in justice equally to em- ploye and employer, Should your hon. orable body accept my recommenda- tion I would urge that the Governor be authorized by a vote of the General Assembly to name such a committee early in the present session in order to enable them to report back to this legislature.
 
 Trial by Jury.
 One of the profound mysteries oi Connecticut that has baflled legisla- lures, baked justice, and exasperated public opinion is the law which makes it impossible for a person sustaining injury to secure trail by jury of a suit for damages. Connecticut is the only state in the union in which this con. stitutional guarantee is denied. The law says that all actions for tort be tried by jury-provided the defendant is willing. In an action of tort the de. fendant may deprive the plaintiff of 3 trial before jury by simply suffering default, in which case the court awards nominal damages, usually not more than fifty dollars, The judgment while apparently in favor of the plain. tiff is in reality victory for the de- fendant. The case is decided and tho law is satisfied.
 For example if a person is killed 1T an accident and a corporation or indi vidual that is held to be at fault i sued to recover damages, although five thousand dollas is the limit allow ed by statute for the loss of life, al the corporation or defendant persol needs to do in order to escape trial b! jury is to enter a default, and by sucf default to confess the right of thu
 Jo V,b,