Spirit of the age. [volume] (Woodstock, Vt.) 1845-1913, 1845-11-06

rs. Mr. Stevens then moved to amend
the resolution so as to declare that the
member from Easthayen is entitled to a
seat; but consented to n motion of Mr.
Barlow to lay upon the table until to-mo.-
rrow morning, which was agreed to by
the House.
Rccharter ofBanks.
Mr. Rice, from the select committee, re-
ported the following resolution by nnan-
imous vote Of the committee, as n subst,
tutc for the original resolutions:
Resolpcd That as general principle
sound public policy iorbids the extension
of bank charters; that just regard for the
rights and interests Of community requires
that the business and concerns of bank.
ing institutions should be brought TO a
close and their affaies wound mp at the ex-
piration Of their charters.
Mr. Swifi!said he did not believe this to
be sound policy, ard in any event he
would not thus bind future legislatures.
Mr. Rice said that he believed the opin
ion Of the Peep le Of the state is, that this
is sound policy as general rule;but there
might be particular cases in which a re-
charter would be proper,
Mr. Kellogg said he would not vote for
the substitute if he considered it as bind
lug future legislatures; for there might be
cases where Banks ought to be re-chart-
cred. lie did not put this construction
upon the substitute, and would vote for
it,
The substitute was carried, and the
question REQUIRED upon the adoption Of the
resolution Us now amended Messrs Rice
Barlow, Aiken, and Edgerlon supported
the resolution, on the grounds that the
policy Is correct; and the applicants for
Banks should understand this to be the
the settled policy Of the state--lhat it is
necessary to compel the established insti-
uIIous to wind up their concerns-an
that to reeharter, las general rule, would
amount to perpetual charter, excluding a
large portion oflhe people from psivIe!se
to which they are entitled equally with the
proprietors Of the existing Banks, Re-
charters, they conced, might sometimes
be Proper-but these were regarded as
exceptions to the general rule. Messrs
Swift Stevens, Russell, Stoddard, and
Crowley opposed the resolution; if intend
ed 10 (orestall the action of the House, it
was unwisc; and if this was not its object,
then 1t was perfectly idle to adopt it. The
question Of policy was, by some Of the
speakers, regarded as at least doubtful, on
the ground that it is safer TO entrnst priv
leges to those who had already proved
faithful and honest, thar TO men untried
and ineXperienced-if no. to say, to spec
uators. All concurred in objecling to any
thing which seould look like tying up the
hands Of the House. and also in insisting
that all applications, whether for rechart-
crs or for new Banks, should be left TO
sand on their own merits, and receive
consideration ofthe Legislature unbiased
unfettered by abstract resolutions Of this
sort.
The resolution was lost-ayes 90; noes
100.
Mr. Swift called up the bill to rccharter
the Bank Of Middlebury, and after some
statements Of the facts in the case, the
bill was recommitied on motion of Mr.
Rice.
The Governor transmitted the estimates
Of the State Geologlst for the coming year,
recommending a small appropriation for
six suits of minerals for various instilu-
tons in this State, which was referred to
the oint committee under the fifth rule.
ReporiS, By committee on Manufac-
lures, against the petition of Isaac Thayer,
and he had leave to withdraw By Gener.
al commtte, bill constituting Adelia Soph-
Barber heiI at law of Ephraim Griswold
which was ordered to third reading
By Judiciary com, agains, the bill altering
the Judiciary system, which, after explain
alton by Mr. Kellogg, was rejected. BY
committee on Banks, against the petitions
aad bills for a new bank at Mindlebury,
andthe bill was recommtted on motion of
Mr. Swift
Adjourned,
, o'clock, P. NJ.
SENATE.
Reports. BY Mr. Villas, from the Judi