Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1866-11-21

taxable estate will be COM priseo unu0'
bead. private property ana oofPoA~ P.vt
erty.~ simplifying the existing laws oPo
eubject, and conforming IN these Pe. s,.,as
to the Statutes OF other Ne" EpE.eue .s~~hl.
E.rst.-In determining the value OF 'a1AoIe
nronertv. the cashiers of banks ana CLERKS =
other corporations are required - make s"o1n
statements of all stocks or shares. Inc awo u"
paid dividends of the previous year, sarpiuso u
of any market value, DC
Second-It imposes taxes on Perso"ei
real estate, unless there be a DIVIDEND OF SAIL
ings tor divisions, and
THird-It creates q lien on al stocks OF non
resident stockholders, to secure final payments
of taxes, or, in other words, the proposed M"
provide q different method of ascersalniDg
values and establishes the cardinel principie,
after such value ie ascertained,o t te1'"y eq~0Hy
euery species Of property in the ota'e e4oeP'
certain exemptions enumerated IN the uener-
al Statutes. =,
1t NAV be asked how can taxation be legal
when the fund invested in one corporatlon
may perhaps yield fUe per cent. IN another
s,po. and perhaps in another twenty or TWEEN
ty-ive. The answer is at hand. Inc state
ments furnished annually, enable assessors 70
determine the pr0ductiveness OF Investments,
and to set their value in The grand list. IL
has been said that capital from abroad wantes
in this State in Manufacturing and mining
enterprises, under the provisions OF this Dill,
would be subjec to all tow and other local
taxation such az the war debt, &c. Inns Is
a condition which must be accepted II can
not be avoided. The individual who changes
his douicile and takes with him his capital, Is
exonorated from taxes in one place, and must
a.sume them In another. This IS the result
and the legitimate result OF his new reiatlons.
1t has been said, too, that the bill will not
reach the taxable interests in railroads where
the possession has passed into the hands Of
trustees and is represented by bonds only.
Section 4 page SIC declares all bonds Tor the
payment of money to be personal property,
REQUIRES them to be set in the list of residents.
Bonds owned by non residents having the
character of notes of obligation cannot IN any
be reached fer the purpose of taxation
The capital invested in private corporations
in this State is estimated at ten millions Of
dOllare, equal nearly to one tenth Of the taxa
bic estate. The Sta te cannot afford to lose
from twenty-five to thirty thousand dollars
yearly, from this source of taxation. Inc
property of railroads ard other private cor
porations should be made 10 bear it's proper
ton of the public burden. Public acts can
not In all cases Cperate eQuitably or equally.
For instance, a resident OF one town may be
faxed heavily for building a school house, he
may the next year remove to another town
and there be taxed O second time and If he
remove again the third year, may be compelled
to pay a third tax. Such instances are not
uncommon and are unavoidable from the ma
ture of circumstance. The proposed bill is
not claimed as perfect in all its details from
the nature OF the case it cannot be it how
ever provides for uniform and equal taxation
In all cases. Adjourned.
AFTERNOON.
SKNATE.-Passed-House 235, in amend
ment to an act t. protect fish In Otter Creek;
House 25o, to protect fish in Shelburne pond !;
Senate 3. relative TO criminal prosecu lions !;
House 23Y, to authorize the town of Mood
stock to raise money for building a railroad {;
House 2lS, to Incorporate the Lunenburg
starch Co. House 264, relative to the REDEEM
ton of bank notes.
House 26l, relating to appeals from the
Judgment of justices In civil cases House
1873, relative to the qualification of voters,
and House I07, to provide for the restoration
and preservation of fish in the State of Yer
mont, passed with proposal of amendment.
Ga motion of MIR. hyde, the vote passing
joint resolution relative to final adjournment
was reconsidered, and the resolution returned
to the House sgreebly to the request Of the
House.
The amendments proposed by the House 10
5. "A, to amend an act to Incorporate the city
of Burlington, we're concurred ID.
Bill introdueed-By MIR. Ayres of Wey-
bridge to legalIze the grand list of the town
IF Weybridge for 1866
Blu pdssed-S. Al, to amend an act to In
corporate the Taftsville Cemetary Associa-
ton.
Joint resoludion-By Mr.. Andrews OF Ber-
lin. that the. SersAant-at-Arms he directed tn
cause to be inscribed upon the pedestal of the
statue of Ethan Allen, his name, and such
other inscription as shall appropriately com
memorate the honored dead Referred to
on ways and means.
By Mr.. Andrews of Berlin, that the Judges
of the Supreme Court of this State should re-
ceIve from the State. in addition 10 a foil
compensation for their services, Sufficient to
enable them to defray all the expenses prop
erly incident to the due performance OF the du-
ties of their Cfhce, and that to permit them
to pass over the railroads, free from charge Of
the ordinary fare, places them IN an improp-
er position and tends to pervert their )udg'
ment when called upon to decide In cases
where the corporations or owners of such
roads are interested, and should be neither
countenanced nor allowed referred to com
nitIee on Judiciary.
Mr.. Marsh of Woodstock moved that the
clerk be directed to request the Senate to re-
turn to the House the JOINT resolution provid'
ing for a day of final al journment adopted
s. lO4. to authorize the town of Woodst ck
and other towns to raise money Co build 6
railroad passed.
5. 80, in amendment OF section /, chapter
% General Statues, relating to the board o
education, with amendment. requiring the
board of education tp be elected by the Legs
ture instead of appointed BY the Governor
(making the bill conform to the bill previous
~ passed by the house., which was adopted
parsed.
From committee on roads, II. l85 to To-
corporate the Montpelier and White Rive
railroad Co, that the provisions of tue statute
in regard to notice had not been complied
with, and asking to be discharged from fur
Their cOnsideiauon OF the bill reques
granted.
$50, to provide for the repair of highways
with amendments which were agreed to
passed.
S. 100, for The regulation and government
of the Vermont State Reform School, witt
amendments which were adopted passed.
5. IL, to repeal section II, chapter 81, Ger
eral Statues relating to insurance companies
S. 80, pruvidIDgsthat towns may elect q col
lectOr Ut taxes; passed.
Bills pdssed-H. 81, in amendment Of sec
ton II, chap;er 125, General Statues, rcla
ting to fees Of members of the General Assem-
bly,.
Mr.. Burt Of Swsnton opposed the bill
from a sense of duty. He thought That j
might be questionable whether the service O
the members was worth TO the State an
more than two dollars q day, and ye. if "
take our services on the ground OF loss Q
time and expenses they were worth muc
more than three dollars even.
Mr.. Mason of Readsboro saidohe though
the time Of the members of The Legislator
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