Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1853-11-24
VOL XLv1II, NO 1.~.~wHoIE NO. 245s


Mr. Rowell called up the biz relating to tax
ing banking corporations. The question being
on the order TO engross and read the I'd time
Mr. IIoyt said that he did not see the force of the
reasons urged yesterday in support of the bill.
The Senator spoke at some length, showing by
examples introduced for illustration, tina, banks
do no, enjoy the advantage over individuals who
have money to loan, which we're adduced by Mr..
Colt in support of the bill The property Of
banks, he said was already taxed, but this bill
ing money. 1t was like taxing professional
man, like offering premium for stupidity II
the State would foster private public enterprise,
they should not obige that spirit Of enterprise
10 pay for opportunities to exercise itself 1t
was enough TO tax the wealth which is accumu-
lated without taking from the stock invested in
banks beyond what is at present provided by law.
These considerations would influence him to
vote against the bill.
! Mr. Denson said that an additional reason
why this bill should not pass is, that bank stock
is entered in the Grand List at its par value If
the bank Is making large dividends, the stock
viii be above par value, and set in the list ac-
cordngly; and as soon as the dividend is made
1t is also liable to be taxed in the hands of the
stockholders. Banks were now taxed IN re than
any other investment of capital He was ap-
posed to the bill,
MI Colt favored the bill lie repeated the
reasons urged by him yesterday, and went into
a showing of some length, Of the facilities en-
ioyed by banks for making money. Pending his
remarks, the hour having arrived for the Joint
Assembly the Senate repaired to the Hall Of
the House of Representatives.
The President announced the following Select
Committee, on the bill TO repeal the act establish
ing the boundary line between the towns Of
Wilmington aud Searsburgh; Senators Stevens
of Franklin Sleeper and Hale.
Adjourned.
HOUSE.
The Speaker announced the appointment Of
Mr.. Hatch, on the select committee on the bill
to repeal the act establishing the boundary lines
between Wilmington and Searsburg, in the
place Of Mr.. Walton, who was excused yestcr-
day
Report Of CommiHecs.-By the committee on
Education in favor of the petition Of L. +. AID
rich and others for an amendment Of the charter
Of Barre Academy by bill to the effect prayed
for, which was read the LIST and 2nd times, and
ordered to ID reading BY the committee of
WAYS and Means, in favor of the bill to incorpo-
rate the Green Mountain Hotel Co ordered to
Sd reading. Also, in favor of the bill regulat-
ing the salary Of States Attorneys, with amend
menis, which consisted in filling the blanks Jeff
for the salaries in the respective counties On
motion Of Nj. ilartshorn, the bill and amend-
mants were ordered 10 lie. BY the committee
on Banks, against the bin in addition TO an act
relating to savings banks making it the duty of
the Bank Commissioner TO visit and inspect the
conditions of savings banks at the expense Of
the banks; 3D. reading ordered After some
debate, MIR. Field fayoring and Mr. Page oppos-
ing, the bill.
BIZ introduced and referred. BY Mr.. Soule,
relating to the election OF town representatives,,
providing that plurality shall elect on the sec
ond ballot; to the General Committee.
The resolution from the Senate for the appoint
meut Of a committee to fix day of final adjourn
ment was adopted in concurrence.
Mr. Dcane called up the bill making an ap-
preparation to build a bridge across Lake Mem
phremagog when Mr., Adams of Milton moved
to dismiss the bill.
Pending the motion to dismiss, the hour ar
rived to which the Joint assembly stood adjourn
cd, and the Senate came in.
The JOINT assembly proceeded to the consld-
sdoration of the amendment proposed by Mr..
Washburn yesterday, to the resolution introduce
ed by Mr.. Barber. Mr.. Washburn withdrew
his amendment, and proposed to amend the res
olution by striking out all after the word resolv-
ed and insert the following that the canvassng
committee have leave to withdraw the memorial
presented by them yesterday. Messrs. Brigham
Harishorn Davis of Danville, and Adams of
Milton, favored the motions Mcssrs. Stevens of
franklin, Barber and Grandey opposed, when
Mr. Field then moved to adjourn till Tomorrow
morning at ten o'clock which was disagreed to
IA 10 -.
Mr.. Palmer moved TO amend the amendment
by adding the words, the joint assembly not
concurTing therein which was accepted, and
the amendment was adopted, ayes 10 nays
1902 Mr. Stevens then move that the joint as
sembly adjourn till tomorrow morning at 10 o.
clock, which rejected. Mr.. Walton then
moved to lay the resolution on the table, which
was disagreed to,-yeas II, nays ZIG, Mr. Den
ison then moved to adjourn till to morrow after
noon al 3 o'clock p. NJ, which was agreed to-
yeas no, nays %.
The joint assembly were then convened 10
elect a Reporter of the decisions Of the Supreme
Court On motion of Mr. Dennson, the joint
assembly then adjourned TIL Tomorrow morning
at / ! o'clock, and the Senate withdrew.
Adjourned.
SENATE.
FRIDAY, Nov. Is, A. NJ.
Prayer by the Chaplain.