Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1862-11-27
supper, Of the government.

Our readers wall find below the report OF a
lengthy and important discussion which took
place in the Senate, last Friday forenoon, upon
the bill for the support Of the Government
The matter Under discussion being one OF so
grea, and general Importance, and the debate
thereon very interesting one, we believe our
readers viii deem the space which we devote
70 II well occupied. We take the report from
the Montpelier Freeman, as follows:
Mr.. Kirkland, for Committee on Finance,
reported flvorably House bill for the support
efGoyernment, with an amendment, raising
the tax TO rs cents on the dollar.
In answer to inquiries from Mr.. Edmunds,
Mr.. Kirkland stated that there was not dol
lss in the treasury to-day. The immediate
wants Of the treasury are Sl4S,OOO. The ex-
penses of the State for the coming year were
estimated at 81, 100000. A tax Of GO cents
snfhe dollar would raise $3.50, 00O.s Seventy
kxeheents on a dollar would raise SS615 ,0O0.-I
Eighty cents on the dollar would raise $780,
kahereommittee also estimated the 81 per
deilarsss Interest on the public debt S60,0O0;
current annual expenses OF the State, sou
eco. tBaIst!z4 IH .E
-aMr.aEdmunds favored raising as large a tax
awe could now. He dlsliked leaving the
fnaoces of the State in such condition that
in year from now the debt of the State would
be So, 100000. E. .
Mr. Stewart favored the amendment of the
Committee, We ought so far as possible, to
nav our debts at the present moment
MIR. Clark of Bennington, thought the tax
ought to be so cents on the dollar.
a. Mr. Edmunds estimated that at the end ola
wear. with the tax proposed by the Commit
tee. the debt of the State would be more than
s., 100000. He did no agree with the finan-
ca policy of borrowing when money is cheap,
and paying when it is dear. He anticipated
that in year from this time money would be
much more difficult to obtain than now. He
believed that the people could, in the coming
winter, pay taxes more easily than in year
frem this time.
Paper money is now deprecated, and yet it
would be received in payment for taxes, and
h thought we had better use this deprecated
currency to pay our debts while we can, rath-
Or than to borrow this deprecated paper, and
pay for it when nothing but specie would
hquidate the debt. .. 4.
HE moved to amend the proposition OF the
committee so as to raise tax Of 100 cents on
the dollar.
Mr.. Stoughton favored the amendment, and
would even be in favor Of tax of 125 cents
on a dollar. Money was never more easy to
obtain than now, and it was easier now to
INV debts than it would be in one or two years
fprn now.
Mr.. Stewart thought the gentleman had es-
tirlated the Indebtedness, present and pro-
spectlve, considerably larger than it appeared
from the Treasurer's report. lie thought that
the tax proposed by the committee would raise
aynm so large, that the debt at the end OF the
wear would not exceed 81, 100000. He
thought the heavy burdens which towns had
imposed upon themselves in bountes, in some
towns reaching 100 per cent. of their grand
hist, made it incumbent upon the Legislature
to make the tax this year as light as possible
consistent with a wise economy.
He also alluded to the fact that the battles
now being fought were for posterty, as well
as ourselves, and justified the Legislature in
leaving a portion Of the expense Of. the war TO
be borne by them. ..ts sr
He did not fully share in the gloomy fore
bodings Of other gentlemen when considering
the state of the country. He thought the ma
ton would prove equal to its day OF trial, and
that the energies Of the people would rise
above the agones of the moment, and estab-
lish once more a national prosperity and make
themselves again powerful and prosperous
He dld not anticipate that the State would be
ana .. hereafter 10 pay It's debts and dld not
therefore see the necessity OF pa5'ns " an OF
nearly all now ID, a., .s >,
Mr.. Edmunds said that he had hope as we'll
az others. but other faculties ought to be ex-
ereised as well as hope. The troubles OF the
country were owing TO this rose-colored view
of thnps-Cabinet members having at the out
set. taken the hopeful view of the rebellion,
and postponed the serious work Of crushing It,
boning i would subside o. itself. But he did
NOT believe because posterity would be able to
bear this burden, that we ought therefore to
throw it upon them.
1t was the part of wisdom and prudence to
do what we can to tighten this debt--to use
our own energies and power-and then we
could safely predict that postel1ty would prove
coual to the burdens they would have to bear
He argued from the parallel OF England, and
from the financial history OF the Revolution,
and the deprecated currency that resulted
from it, that we could only safely anticipate
similar financial troubles as the result of oul
present disturbed affairs, and THESE troubles
should not be increased by any neglect on the
part of the people to meet the present necessl
ties of the State. lie said that 100 cents on
dollar would pay only about fwo-thlrds OF the
expenses of the State for the year.
Mr.. Richardson only spoke to endorse the
remarks Of the Senator from Addison Mr.
Stewart).
He did not believe that specie payments
would be resumed by the government or tn
banks for year, and then currency would b.
as cheap as now Heidi not want to XII
Vermonters in the army by violence, ant
Vermonters at home by taxation at the sam
time. He favored the proposition OF the com
mittee to raise tax of seventy-iive cents ON
dollar. ss