The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1852-10-27

1t Is highly creditable to the char
tered banks in operation in this state,
that during every financial crisis their
4 credit has been sustained, aud at the
present time their notes are regarded
by the commercial community as a.
mohg the safest in circulation. But
while il is a gratifying consideration
that nothing has trahspircd to impair
4 public confidence in the integrity and
sound discretion of those in the direc-
3 ton and management Of these institu-
tons, no consideration should induce
the legislature to relax in the enforce
mcnt of the provisions made by law
for constant supervision Of their af-
fairs.
The construction OF railroads, viii h
has been prosecuted with such unpar-
alleled energy and perseverance, du-
ring the last few years, has tended to
develop the resources aud capabilities
of the state, to an extent beyond the
most sanguine expectations of the pre-
jectors of these enterprises, and the
syst m may now be regarded as among
the greatcst benefactions Of the age.
Thus far, however, the investments
/ for such construction have not yielded
fair income to the stockholders,
many of whom have been subjected
t. no little pecuniary embarrassment
by the losses they have sustained but
it is believed that the several railroads
within the state are in a situation to
! be operated with more safety and e.
economy than was practicable while in
an unfinished state, and it may be
hoped that with the increasing bust
/ ness, 50 clearly in prospect, better
profits will be realized.
A digest of laws, embracing a gem
cral system of provisions applicable to
railroads and railroad corporations.
was carefully prepared by a commit
tee appointed by the legislature, and,
af.er mature consideration, adopted by
the act of November, 1919. 1t is not
supposed that any further general
provisions arc needed, either in view
of the rights of the corporations, or
the safety of the publi;. A digest of
the laws on any subject, or a system
of policy adopted after mature delibe,
ration, should not be changed until
experience has developed its benefits
and defects, and then not by partial
legislation. usually intended to remedy
some fancied inconvenience, which
may mar the symmetry of the whole
system.
Exceptions to this general remark
may obviously be entertained, for rca-
sons clear and tangible, and as such
an exception, would recommend the
single additional provision, that in the
future construction of railroad bridges
except when the rail track is laid
upon the top of the bri lge-and of
all public and private lridg's, under
which trains of cars are to pass, the
height of the truss shall be at least
seventeen feet in the clear. The fire.
quent occurrence Of accidents, usually
fatal, occasioned by bridges being so
low as to sweep from the top Of mcr-
chandiSe cars the conductors or brake
mon who happen imcautiously to be
standing thereon, suggests the duty
Of providing by law for the only sure
preventive of this class of accidents.
The views of the citizens of Yer
mont on questions of national interest
are t. well understood to require on
the present occasion specific enumer.
i'm. a modification Of the present
tariff is most obviously demanded, as
essential to the prosperity and best in
terests OF the American people. The
principal element Which constitutes
the wealth Of the nation is labor.
The great body of the people are di-
rectly employed in productive indus
try. That industry should be stimu-
lated and its productions protected by
the fostering hand of the general gov
eminent.
Without increasing the amount of
revenue be- or.d what is required for
defraJ ing the expenses OF government,
adequate protection may be efiectually
Secured, by a judicious discrimination
i'll favor ofarticles Of American growth
and American manufacture, in the as
sessment Of specific duties on foreign
i'm ortations. The encouragement of
domestic manufactures and mechani-
cal trades is essential to that division
of labor which creates home market
! for the surplus products of the soil,
which in turn is reciprocated by the
1 home market existing for the manu-
featured article while a laudable
competition, open to all, is sure to
bring the price of every commodity to
its proper level, and to regulate and
! control the prices of imported fabrics.
The importance of a home market
cannot be to highly appreciated, es-
pecially by the producing classes. 1t
saves the friction and expense of trans
portation, equalizes the circulating
currency, and by its constancy pre-.
vents in degree those financial re-
yulsions consequent upon oyertrading
with foreign nations. 1t promotes
that fraternal intercourse between diff
fereHt communities of the same state,
AID tie citizens Of different states,
which is essential to the perpetuity OF
! the Union. and 10 that onual;ty of STA.