Banks.— In 1914 there were 250 national banks with $21,450,000 of capital and $145,000, 000 deposits ; 365 State banks whose deposits were $/8,443,762; five savings banks, with $12, 864,355 of deposits; 141 loan and trust com panies transacting bank business, with $75,387, 001 of deposits and 199 private banks, which are not required to make returns by the State, having $25,762,876 deposits. The clearing-house organizations in the State are at Indianapolis, Evansville, Fort Wayne, South Bend, Gray and New Albany, and the earnings average about $600,000,000.
Education.— Indiana has always given much attention to education and especially since the adoption of the present school law in 1852. At that time there was created a public school fund, the interest on which was to be distrib uted to the various school districts. The prin cipal factor in this was the profits which the State had derived from the State Bank of In diana, amounting to about $3,500,000, to which was added $573,000 of the surplus revenue dis tributed by Congress in 1836, and several smaller funds. To this additions have been made by fines and other public receipts, until in 1914 the common school fund amounted to $11, 677,456.65, in which is included the Congressional township fund, derived from the sale of school lands donated by the national government, amounting to $2,479,467.72. This total fund of $11,677,456.65 is held by the several counties, and the interest on it is applied to the support of the public schools. Added to this is a State tax of 13.6 cents on each $100, and 50 cents on each poll, the proceeds of State liquor licenses and dog licenses, and local taxes assessed by local authorities. From all these sources the actual revenues raised for the public schools in 1914 amounted to $17,322,994.03. The enu meration of children of school age —6 to 21 years—was 766,383 (of whom 16,515 were colored). A large number of these attended private schools and the attendance in the public schools for the year was 441,168. The revenue was therefore nearly $40 to each child in at tendance. There were employed 18,449 teachers, and the average number of days of school was, in townships 142, in towns 163, in cities 179, in the State at large 155. Owing to the concen tration of schools, the number of school houses in the State has decreased more than 1,000 in the past 15 years, though their value has doubled, and the quality of accommodation has increased still more. In 1914 there were 38 concrete school buildings, 87 stone, 4,610 brick, 3,948 frame and 3 log. The value of buildings and apparatus was $49,224,882. In these figures are included 803 high schools, which are a part of the public school system. There are also a large number of private schools, notably those maintained by the Roman Catholics and Lutherans for children of all ages, and a num ber of academies, seminaries, institutes, board ing-schools, military institutions, colleges, nor mal schools, etc., for intermediate education.
There are three institutions of higher educa tion that receive aid from the State, Indiana University at Bloomington, the State Normal School at Terre Haute, and Purdue University at Lafayette. Indiana University has an in come of about $385,000 derived from a State tax levy and the interest on an endowment fund of $600,000 raised by State taxation. It has more than 2,000 students. The State Normal is also supported by a State levy of $192,000, and the city of Terre Haute pays one-half the ex penses of keeping the buildings in repair. It has 3,049 students. Purdue has an income of $492,447 derived from State tax levy and inter est on endowments, and including $57,000 paid to it annually by the United States government as an agricultural school. It has 1,867 students.
Among the private institutions for higher education the more important are Wabash ColL lege (Presbyterian), University of Notre Dame and Saint Meinrad's College (Roman Catholic), DePauw University (Methodist), Earlham Col lege (Society of Friends), Franklin College (Baptist), Hanover College (Presbyterian), Northern Indiana Normal (non-sectarian), and the University of Indianapolis. The last named was formed by the union of Butler Col lege (Christian) with the Medical College of Indiana, the Indiana Dental College, and the Indiana Law School, all of which are located at Indianapolis.
An important branch of educational work in Indiana is the development of libraries. A fea ture of the school system adopted in 1852 was the establishment of a free public library in each township in the State. The State expended $273,000 for books, and the system was received with great public favor, but no provision was made for maintaining or increasing the libraries, and in the pressure of the war times they were allowed very generally to fall into ruin. To some extent these have been replaced as school adjuncts by the libraries of the Young People's Reading Circle, which are found at many of the schoolhouses of the State. These libraries con tain about 500,000 volumes. There has also been a notable development of town and city libraries, 138 towns having accepted donations from Andrew Carnegie, aggregating $2,097,000, agreeing to maintain libraries in the buildings thus provided. There are 33 others that are maintaining libraries in buildings provided by themselves. The general supervision of library work is lodged in the Public Library Com mission, which has charge of a system of travel libraries furnished by the State. It also maintains a school for the training of librarians engaged in the work in Indiana.