In 1873 the growth was largely checked by 

 the Boston fire. The valuation of personal 

 property, as returned by the assessors of cities 

 and towns, was also materially affected by a 

 change in the method of assessing the bank- 

 tax, which operates throughout the Sta: 

 reduce the valuation of personal property. 

 The purchase of bank stocks by savings in- 

 stitutions has taken this class of property 

 from the taxable values of the municipalities 

 of the State. Thirty-seven per cent, of capi- 

 t il stock of Boston banks is held by savings 

 institutions, insurance companies, and chari- 

 table societies, and is exempt from local taxa- 

 tion. The city of Boston lost upward of 

 $7,000,000 by this change from its list of per- 

 sonal property. 



These two causes, however, are not sufficient 



the residents of large cities and large towns, 

 living in compact bodies, will be a very dif- 

 ferent commonwealth from one where 'the 

 hardy yeomanry ' are sufficiently numerous to 

 be taken into account, when politician- 

 out a campaign, or legislators meet to make 

 laws. The necessity already exists for a con- 

 vention to revise the constitution of Massachu- 

 setts, which is older than two-thirds of the 

 cities, and, as compared with the progrr- 

 constitutions adopted by several States, is a 

 very poor bit of work. It was adapted to the 

 stage-coach era, not to the days of railroads 

 and the magnetic telegraph." 



In the following statement are shown the 

 grand total of personal and real estate in the 

 cities of the State, together with the taxation 

 for 1872 and 1873: 



From the above it will be seen that in all 

 the cities, except Oharlestown, Somervillc, and 

 New Bedford, the rate of taxation bos in- 

 created, and in every city, except Charlestown, 

 there has been an increase in the tax 1< -. ; . 



The various educational, reformatory, chari- 

 table, and penal institutions of the State are 

 reported to be in a prosperous condition. The 

 new Normal School building at Worcester has 

 been completed, and was ready for occupancy 

 early in 1874. An additional hoarding-house 

 at Bridgewater, and a largo dormitory at 



Westfiold, were built during the, year to meet 

 the necessities of the institutions at tho^e 

 point*. The Agricultural College nnd the 

 Technical Institute* of the Slate are crowded 

 witli pupils, and seem to ho tilling their spe. i ,1 

 mission in a most satisfactory manner. Tin' 

 commission under the act ot the Legislature 

 of 1873 to provide for the building of a in-w 

 State prison, after examining lil'ty-ci^ht dif- 

 ferent sites, selected niic in the western part 

 of Concord, which lias been approved by the 

 Executive Council. The site embraces about 



