Ceredo advance. [volume] (Ceredo, W. Va.) 1885-1939, 1910-11-02

OF CankIn9 department FOR
That Purpose - Costs Less Than
$1,000 Year to Maintsin-Voter,
Woud You Have It Abolished?
Over in Ohio this campaign the
parties are threshing out the tax
question. There is 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.
teresting to West Virginians. 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 system of tax laws
IS are now in force and effect in this
state. and the advocates are using
our laws IS an example of the very
pest that there is in the line of legis-
latlon OF this kind. 1t is gratifying
to the officials of the state govern
men to know that West Virginia's
tax system is held in such high esti-
nation by leaders of public thought
In such a great state as Ohio. 1t is a
compliment, indeed, that all patriotic
West Virginians will appreciate. Ii
serves to bring out the interesting
lact that even the great Buckeye
state is behind us in some respects.
and the tax system is one of them.
However, two years ago. Ohioans
/ aid us another compliment, which
showed that West Virginia was more
! up-to-date in the laws governing an
other branch Cf her state govern
ment. That was in the laws govern
ing the department. of the commits
sioner of banking. At the time re-
ferred to Ohio banking circles were
in the throes OF a struggle to have
enacted better and more modern
banking laws. When the question was
up for discussion before a meeting CT
the bankers of that state. and an
agreement on some plan seemed
hopeless, President Hinch, in the
heat of debate, said: For heavens
sake, If We can't write law our
selves, let us adopt the law they
| have in West Virginia Over in that
little state they have one Of the very
| best laws in existence 1t is humil.
iating TO find small and youthful
state like West Virginia superior to
the great state Of Ohio. 1t is some
thing to be ashamed of"
If there be any question about the
modernity and up-to-dateness of West
! Virginias state government. 1t should
not be in connection with our tax
and banking laws. that's certain.
when the great state of Ohio singles
us out IS a model TO follow and copy
after.
And While attention has thus been
called to the banking department.
might 1t not be well to set forth few
interesting facts and figures concern
ing 1t? 1t is a department. though
thoroughly understood and much an.
preciated by bankers the general
Iublic. which as depositors. is as vi
| tally affected by it, knows little
about. It has not been much exploit
| ed, and has been shunted into the
/ background during campaigns by 9th
er Issues of more sensational and TO
mantle political interest. and yet
there is no department Of more i'm
! portance connected with the state
! government
The prosperity Of state can not
| be better judged than by its bank
| deposits. West Virginia today has an
/ ur-to-date banking law. efficiently adj
ministered for the benefit Of the pub.
| lic and the protection Of depogitors
/ Although the banking industry dur.
| ing the last - years has grown phe-
/ nomenally yet there has been but
few bank failures. which is largely
/ due to the efficient work II the de
! partment Of banking. It is through
the banking Institutions that money
finds its way into the channels OF
commerce and helps TO develop the
| resources Of the state.
In 1896, the last year Of Governor
MacCOrkle's administrator. there
we're 60 state banks I'm the state as
compared with 179 I'm 1910. an in
crease OF 1913 per cent. I'm 1896 the
| total deposits in the state banks
we're S106lO.012. compared with $50.
Sl4,2GG in 1910. an increase Of AS
per cent
The legislature for the year ending
SEPT 30, 1910. appropriated. to cover
| the expenses Of the department of
banking $1,000 There was collected
| IN fees from banks s4HO leaving
1880 as .ac total cost O. maint .n.
Ing thc banking Departments for the
year ending Sept. 90. 1910.
Under the law as # is today. there
| Is also under the supervision Of tho
commissioner Of banking. bundlng
and loan associations to- the number
, Of 40. lt IS only necessary 70 recall
history TO know how loosely the
building and loan association buei.
ness Of this state was conducted a
few years ago. Many people were
neeced out Of their hardened aar-