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This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Excerpt from Tenth Annual Report of the Bureau of Labor Statistics of the State of Connecticut: For the Year Ending November 30, 1894 Lack of comprehension of the true purposes of a saving and loan association, and of the principles upon which it should be conducted, is apparent, both in the provisions of the Connecticut law of 1850 and in the first report of the Bank Commissioners on. The subject. The law, in the first place, made the associations banks without throwing about them auv of the safeguards of banks. It is the busi ness of a bank to receive deposits, repayable at anv time. It is the business of a saving and loan association to safely invest the accumulated savings of its members. Its funds, consequently, should be tied up in mortgages of a fixed nature. It is di icult to reconcile the two businesses under one management. Either so large a reserve must be maintained as to make the undertaking unprofitable, or else, in the event of a sudden large demand for money, the association must collapse. There is the further danger involved in the fact that men may not be as careful in investing other people's money as when they are handling their own, and that advances for speculative purposes may result in disaster. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works."