The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1910-11-01

er Of Banking Department. For
That Purpose = Costs Less Than
5000 Year to MaIntaIn-Votsr,
Woud You Have lt AboIlshed7
Over in Ohio this campaign the
parties are threshlng out the tax
question. There Is a demand over
there for a new and more modern
system OF taxation; fair and equal
tax laws which will Justly distribute
the tax burdens. The contest Is In
terestinE to west VIrginfans, because
of the fact that it Is a replica of the
fight for the new tax laws that We
had in this state. Only, there is-this
decidedly Interesting difference:
In Ohio, the Democrats are stand
ing for such a system OF tax laws
as are now in force and eject in this
state, and the advocates are using
our laws as an example of the very
best that there is in the line Of Iegis-
latIon of this kind. 1t is gratifying
TO the officials of the state govern
men to know that West Virgtnia's
tax system is held in such high eStt-
nation by leaders OF public thought
in such a great state as Ohio 1t is
compliment, indeed, that all patriotic
West VIrginfans will appreciate. 1t
serves to bring out the interesting
fact that even the great Buckeye
state Is behind us in some respects,
and the tax system is one of then-
However, two years ago. Ohfoans
Laid US another compliment which
showed THAT West Virginia was more
up-to-date in the laws governing an.
other branch Of heT state govern
ment. That was in the laws govern
ing the department. Of the commits
sfouer of banking. At the time re-
ferred to Ohio banking circles were
in the throes of q struggle to nave
enacted better and more modern
banking laws. When the question was
up for discussion before a meeting OF
the bankers of that state. and an
agreement on some plan seemed
hopeless, President Hinch. in the
heat of debate, said: For heavens
sake. II we can't write a law our
selves. let us adopt the law they
hava-in-I West Virginia, Over in that
little state they have one-of the very
best laws tna existence. It is huInil-
iating to find a small and youthfm
state like West Virginia superior to
the great state Of Ohio. 1t Is some
thing 20 be ashamed Of
II there be any question about the
modernity and up-to-datenesS OF West
VirEfnIa's state government. 1t should
not be in connection with orr tax
end banking laws. that's certain,
when the great state OF Ohio singles
US out as a model 90 follow and copy
after.
And while attention has thus been
calIed TO the banking department.
FeTr
Interesting facts and figures concern
Ing NJ Il Is Department., though
thorouRhly understood and much ap-
predased by bankers, the general
pSblic. which as depositors, is as VI
tally affected by 1t, knows little
about. Il has not been much exploit
ed. and has been shunted into the
background during campaigns by 9th
az issues Of more-se sensational and ro-
mantle political interest. and yet
there is no department OF more i'm
portance connected with the state
The prosperity of state can not
be better judged than by Its bank
deposits. West Virginia today has an
up-to-date banking law, efffciently ad-
mInisterede for the benefit OF the pup
lie and the protection OF depositors.
AltnOuRn IuS be-AAhAAA6 'AA1tSNA
ing the last 12 years has grown Phe-
nomenaIly, yet there has been but
few bank failures. which is largely
due to the efficient work ct the de
partment of banking. 1t is through
the banking institutions that money
finds it's way into the channels OF
commerce and helps to develop the
resources of the state.
In 1896, the last year OF Governor
MaoCorkie's administration, there
were go state banks in the state. as
compared with. 179 in 1910, an In
crease OF 1913 per cent. In 1896 the
total deposits in the state banks
were SIC, 6IO,O12, compared with $685.
! s14.266 in 1910, an increase OF 4s5
The legislature for the year ending
Sent 80, 1910, appropriated, to cover
the expenses of the department OF
/ banking. 81 800. There was collected
in fees from banks $4,+1O. leaving
s2S9o as the total cost Of maintain
ing the banking department for the
year ending Sept. 80. 1910.
Under the law as It is today, there
Is also under the supervision OF the
commissioner of banking, building
and loan associations to the number
Of 40. It Is only necessary to recall
history to know how loosely che
building and loan association busi-
ness Of this state was conducted a
\ few wears ago. Many people were
| 6aeeed ont OF their iard-earned saw
| - -, tJ,S ssrnJI6bToom" building and