Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-11-04
Reduction Of ,c5Ior,ss.

Viz, VIZ P"y Is IiNs" AT W per day agreed TO- Mr.
llhs moved TO reduce the snlarv or Ibs S.,,,..
ct STATE TO $3.50 bin and nmrdn'a,,, ' ~ my
i""'e, ana nude tie order for to.,norrn,. at...1
noon. 'o-'ho'roW alter
Bank Of Montpelier.
mr.. Peck called up the bill relating to tho RooL
ct Montpelier. Mr.. Daniels moved IN d;s,,i D"in
MI fcck supported the bill. and n tnotion ~ H.; '
miss was lleguiived, l05 to 23 Amended hv Iins
Jung lho iItne Tor payment oi second nslnlr,entor
stocN one year, wien Mr.. Rice said, out of ron-
sslency the House should reject this hill no ,La,,
Had the first bill in reference 10 poultnrv Ran,
Mr. reck said there was Inference IN tbp t,,o
cases The Poultney Bank had too much co,i,oi
Whl'e Tor ordinary times Tho Bank of NIon,,,oiia,
. ,,"' 10 more capital than would hc needed Tbov
''e'''o'' nskeu, not for n reduction of cnpital Inn,
an extension oi time for yayinp il in In ,bnso
views MIR Harrington conc,,,reJ :" ''oso
Mr. Daniels said this bank with lie s,,.Il ooi
ta', uIrehdy hh'l lie largest circulation If ,ny 4,
the STATE and he wNs for compelling il to unv in
the capital. " " pay !"
MIR Tracy opposed the bill for one. he wor,d
not vary one lot or title Of the banking me-, ~
lS40 and he warned The House that if il n,,sse 80, ~
bill, 1t would be but nm entering wedpe ,,bich
would result ~ oyerturiling all the autary guards
imposed Ivy the act OF 1910, and throwing ms bnck
upon the old miserable aud rotten system vhich
had dISgraced this AS well as other siates If ,Ia
Bank oil montpeller did not wish to use all ts
al
Thm he was ms ready TO grant as he was in Tho
case of the Poultney bnnk wv
mr. herh thought these consequences would
not 10y any means follow from this bin and prceJ
us passage
Mr. Davis, Of ~ said he believed that what wos
hSh III rouNnry was fish in Montpelier, and he
was against this bill lie wanted to keen The c,,,h
on the banks: and it was equally true of corpora
lions MS OF certain individuals "piye ,hen, nm
inch ard they will take an el."
.Hr Petuboue sad there was no use nf tnli;u.
re'ns upon horse which ioouid run awov MI
smash the carriage at any rate the reius sboulI
n"'t peCh put on long ago upon some of tho
bahks, alludng to the state of some of The barls
as reported by the bank commissioner Tha
great dinichhy OF our banks generally is TINT in.
s'e"u OF heIhg constituted Of capital thew were
usrd to manufacture capital aud he wauted ,be
relhs put on here-lIIat The hanks should be com.
PEELED TO have their capitol in their vaults. and
UNI me same men who furnished bank capital
should not also he bank borrowers. He approved
the mode OF conducting tho bank of Montnnlier
and sustained The bil; II would be hard to conpei
tins community in these times, TO pay i'm the nd
dhonal portion of the stock. lie referred to lie
former course on the Essex bank, which had bepn
proved clearly right by subsequent experience, ma
those must acknowledge who entirely diffared
with him at that time. Among them Ind been
the gentleman trom Woodstock, but he Ind no
more TO say Of his course and that of others on
that occasion, than that 'lhey knew net what thew
| did"
! Mr. Tracy said that he did not rise 10 discuss
the insolvency OF this or That bank, or the Essex
bank question, or the bank reports of the gentle.
men from Manchester believing they had mn
more to do with this question than had Nicholas
| }lddIes opinions about bard times The real
question here was, whether the House womb
rltter away and relax the provisions of the act
OF lc4o Never would he consent to it. He pro-
| ceeded to state his ohJertions 10 the bill remark
| ing that IN His case the bank had had time in
comply with the law its Stockholders knew their
duty 60 and IT was not 10 be tolerated that thew
should neglect that duty, and then come in here
and ask to he released
MIR. Keith replied urging the hardship of this
case the necessity OF giving the relief asked and
arguing that no danger could ensue. He WINS in
favor of using the curb but not uurensonably
when the horse was dOce, he ms willing to re-
lax tue curb tHH'n. C?ro, however, 10 keen il
ready in Ut necessity.
| Mr. Garfield followed on the same side. and he
bin was rejected on the 81 readng-ayes 81. noes
| l47.
Mr. Peck then introduced a bill reducing ,ba
capital stock OF The bank, which was referred 10
CON- Banks.
! Resol utions. BY Mr. Harrington, to permit Mr.
Lewis Weld, OF Hartford Asylum for deaf
aud dumb, to appear in the House, with pupils
of the institution, tomorrow afternoon at
| u C'oCh' uuoIheu' ny sur rope, MS 10 eXnculeu-
cy Of requiring no person under 81 TO do military
duty adopted Adj.
THURSDAY, Nov. 3, 1912.
SENATE.
| Prayer by the chaplain.
| ResOiutiOns-By Mr. +. Allen, providing for adj
ionrnmcnt without day on Thursday next A mo-
ton, by MIR Camp, to lay on tie table, was mega
tiyed, TO IA, when Mr. Dillingham; moved an a.
mendment, striking out Thursday and Inserting
Friday (of next week. Amendment adopted,
and on motion Of MIR Dillingham; laid on the ia
bile and made the order for Saturday morning
Notwithstanding leave OF absence to Senator A.
| Allen from and after 10. morrow morning; called
up by Mr. E. Allen, and passed. and Mr. A. Allen
had leave OF absence accordingly. BY Mr. Sprague,
relating to the grand list, and especially referring
to bank stock passed. and referred to select COM
mittee upon that subject.
Rtport-Ot com. on Military Affairs, of reso-
luton in favor OF asking from the General gov
eminent the payment TO this State of the sums ex-
pended during the late border difficulties, in all
amounting 10 5 ,094 resolution passed.
Mr. Briggs called up the House bill dividing the
Stale into Congressional districts, when the Sen
ate went into committee of the whole. Mr. Hub
bel moved an amendment, erasing all after the
acting clause, and offering substitute supported
in debate by Mr.. Hubbel, and rejected, IA to Is.
Mr. Butler then moved SO TO amend as to incorpo-
rate the provisions Of the bill introduced by Sena-
tor Camp amendment rejected, IA to 10, when
the commiIlee and reported the bill without
amendment when Mr. Hubbel renewed his pros
posal OF amendment, aud demanded the yeas and
nays, which were taken, without debate, and the
amendment rejected, yeas Ia, nays u.s. MIR Butler
then renewed his proposal OF amendment, aud de-
minded the yeas and nays and the amendment
was rejected, yeas IA, nays Is. Mr. Smalley mo.
we'd that the bill be land upon the table, and made
the order Tor tomorrow morning motion mega
lived, IA to Is. Mr. Hubhe then moved that the
bill he laid upon The table and made the order for
this afternoon. Motion sustained by Messrs. Hub
be given for those who desired opportunity for re-
Election and to speak upon the subject. Mr. Camp
raised question oil order as to the repetition Of
motions 10 lay, by merely varying the hour to lay.
The chair decided The last motion out of order.
Mr. Dillingham; took an appeal from the decision