Banks. The main features of the banking history of the State include the Bank of Frank fort in 1806, and the Clearing House at Louis ville, established in 1875, which has more than once saved many. of die better banks from disaster in panics. The clearings at Louis ville in 1918 were $1,159,000,000; those at Lexington, $64,248,000. Not until 1912 was a State Department of Banking legally established, although Secretary Bruner, under Governor Willson, in 1910 began to inspect State banks in consequence of several failures. The re port for 1918 included 444 banks and trust companies, with aggregate capital stock of $19, 117,650; surplus,$8,030,000; deposits, $131, 000,000. Including the national banks the total deposits were $266,951,865.
assessed valuation for 1917 was $922,456,000; for 1918, $1,403,978,000, an increase due to war prices and to new valua tions by the Tax Commission which was created in 1917, under the authority of a con stitutional amendment of 1915. This law re quires the classification of property, and ex empts certain classes from local taxes. It various provisions make Kentucky as progres sive as any State in taxation. The tax rate is reduced from 55 cents to 40 cents per $100. The income, however, is divided into parts, or funds, arbitrarily, so that some expenditures are not fully met, while other depattments are self-sustaining. No funded debt is allowed, but the deficiency of about $3,000,000, mostly incurred since the construction of a new capi tol, is carried as a floating debt in the form of treasury' warrants which are redeemed as surplus accumulates in the treasury. The revenues and receipts are close to $10,000,000 yearly, of which sum the city of,Louisville con tributes one-fourth. Losses of revenue oc casioned by prohibition will delay the' reduc tion of the debt. On the other hand some re lief is seen in the growth of public service corporations now assessed at $70,941,824, as well as in that of oil companies. Local con ditions are among the best in the Union, the per capita debt of cities and counties be ing, in 1913, $10.95, placing the State in fifth rank in this respect. In consequence the credit of local bonds is very high.
Social Legislation. Kentucky's lawmakers have in the past 15 years adopted most of the progressive legislation of the age: Conserva tion of natural resources, safety mine safe appli ances, child labor restrictions, compulsory school attendance, workmen's compensation acts, tax reform, high schools, agricultural ex tension programs,juvenile courts, prison pro bation, care for delinquents and dependents, bank inspection, training for teachers, fire prevention and insurance. They have quickly
accepted the various proposals of co-operation extended by i the Federal government in educa tional and improvement matters, and ratified the amendments on income taxes and pro hibition. To apply most of these reforms they have appointed competent commissions.
Churches. The religious census of 1906 placed the church membership in Kentucky in the following rank: Baptists of all bodies, 311, 583 or 36 per cent of the total number of mem bers; Roman Catholic, 165,908 or 20 per cent; Methodist bodies, 156,007 or 18 per cent; Disciples of Christ, 136,110 or 16 per cent These figures of course include colored as well as white communicants.
Education. The school census of 1916-17 reported 740,576, of whom 352,059 or 48 per cent attended school. Those enrolled were 555,568 or 75 per cent of the total number of school age. Those above the age of 20 and below 6, in school, were 12,807. The total number of teachers was 13,031, mostly women. The number of schoolhouses was 8,616, of which 7,035, or about seven-eighths, had one room. Progress was evident, however, in the construc tion of 407 new buildings during the year. The value of all school buildings and grounds was $14,090,709; of apparatus and furniture, $1,523,468 more. In 1917-18 the expenditures on the public schools were $8,142,484.28, or an average of $14.66 for each pupil enrolled. The terms have happily been extended. A deter mined effort along this line has put the great majority of schools 7,567 in the seven months group; 335 have eight months and 306 have nine months. This result is in marked contrast with conditions a few years earlier. Obviously, attention. has been given to the matter of attendance, which is coupled with child labor laws. The Kentucky Child Labor Law of 1908, improved since that date, is one of the most advanced in the Union. In some of the cities a Juvenile Court with proba tion officers assist the labor inspector and the school officers in requiring attendance at school. These results flow from a general re vision of the educational laws and requirements in. 1908. Volunteer speakers and workers car ried on educational campaigns throughout the State to awaken public sentiment, and each session of the general assembly since then has taken deep interest in legislation affecting the schools. Besides other features one may men tion the Truancy Act of 1908i the Illiteracy Commission of 1916; County High School Act of 1908; and its modification in 1916 permit ting co-operation by two or more counties; increased sources of revenue by various acts; addition of agriculture and domestic science to the curriculum.