Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1866-11-23


voted ray yestefdsy, ordering tbs bin to third read
ns onituts Messis. Alsn. Bill, Kellogg, Lsdd q
Of Bridpor and Warren and adding Messrs CLARK "
Poultney, Demng Gibb, Hathaway, Iadd Of Enosbufeh,
Niles robls Psske. Richardson Of Wai,oacld hobeft
Shepard Waite aud Whitcomb
Mr. Ross Of SO Johusbury said that through an over
sight In She adoption of the amendment proposed by the
qentt,nan from Ludlow. they bad inadvertently done
Injustice 70 their excel speakc by trdacul his pay
20 81 90 pcr day, when the law 10 PREVIOUSLY stood
would give him "a 0J per Jay he moved % rec nsiuc
the vote passing BILL Tor the purpose Of correcting
this urinlentional error The vote recon dercd.
when Ar Ross moved 60 amend so % to make the pay
tho President Of the seuste and Speaker Of the House
Hr CLARK Of Poultncy .aid he believed Ct was he
custom Of al legislative bodies 10 make The pay q he
presiding officer double that Of me membo s. ard he
moved 10 Amerd the amendment oposed by Mr. Ross,
a. 70 make IL So 90 per day instead u So 90. The
amendment accepted By Mr. hoss and ad0p.td, and
the bill passed as amcndcd
On motion ofh waite Of Bden, adj
ss,,,, sA1uHpAY' Nov H.
PRAYER by the Chaplain
on modoa Of Nh Martin, reading Of The journal Of
yesterday dispensed with and tine journal approved
wi thout reading
Passed-h l56 In amendment 90 sec y chap 10 Of he
gen stat relative 10 disuics lsy TO Incorporate
the village Of Cabot 27 10 incorporate Ae latsNle
cemetery ASSOCIATION. with Amendment 23 cnp1w-
sing incorporated villages % towns 90 have and main
tain lock-ups jhils % in addition to chaF ~ Of
the zen stat entitled ui money Of acc unit and tlrcat
23 iu addition chap SO u tho zen stat o the court
of chanecry, with amendment; 2o7 in amen meut to
lands; ia relating 10 the right OF fowags TIC ia
addition chap % Of The gen stat relating 10 teAt
books for in ihe district sch OILS in ibis stlei 2i2
in addition - Of the acts Of 1868 relative TO the
fees Of thehs and constablcs POS 60 provide fouds
for the State reform schools 235 90 incorporate the
The amendmentsO u The house 20 50 % provide Tor
highways. and l0 TO provide Tor the regulation and
government Of the reform school, were conoutreu n
Ordered TO h,fa fcadiEg-s IS iu addition t1 at
for the relief Of seLo disaioi No4 st Adams.
On motion Of Mr Taft, adjourned
CONNECTION Mr. Grey Of Middletom voted no ou
the bill to raise pay Of members. Mr. Marsh Of Wood
stock voted aye.
Prayer By the Chaplain.
Bfis passee-H liS Incorporate mo village Of " in.
oo,d; f9j to pay fiau1in Butosi 200 20 incorporate
the Peru steam mil company ana 20 na Crafts
burr mill village niil coz ~ defining the junsdeii1n
Of town clerk.
BilE introaueea--By Mr. CLARK of PouItucy amending
sec Of az act l1sruci1g the com % make up he grand
hst TO correct the st % the county Of Washington, app
proved Nov Us 81 70 com jud CARY.
By dr Pease oil hoou'stcr to pay spauldiug the
sum therein 1nendqnedi TO com oe olaims.
BY mrCaik of foultncJ maxi provision for the sup
por OF government rfiling state tax Of IS
the dollar Of the gran si ofthe state To- 1866 u under
suspension Of the rules the bill was passed
MT Rounds OF Chester califd up 2i3 TO prevent in
juries to p bic mig Nfs wlo moved 90 amend 10
allow tfnbcT bc -hcr The ground IL frozen and
no nJqry would sc'rac oan was adopted and the bill
passed
Ii 10 to provide rr i-Aug the shares fprivate cor
poraione, was taken up the qnesila being IT'S pas
Mr PaIk Of Bennington desired g, ask the com how
mach the grsrd Dog Of the state vould be increased Il
this biz paascd
Mr. CLARK Of Pommey stated tha, the bin would prob
ably embrace ab9ut "a coo 900 II railroad property
reaching the Vermont and Canada the Passlmpsc and
porstons.
Dit Park was fearful that any thing he might say
would have very little b. hueuoe with the houre, mas
mucn as be might be regarded ss interested 10 the mat
ter Of taxation u his properly which on.ised in
part IN corpofatioua 81 never had any quaIfels with
tax eolsolofa out aiwsJs paid oheeruliy alb that was
required OF him. and mad always favored Increased tax
c. ior the public good he also thought he horc
disposition lie part OF the house TO pass this
bill. Notwithstanding any opposition he might make to
1t. He believed that the passage Of the bill would d.
instead q the grand list Of the state
that the taxation Of the would be increased under
1t, and that within the next two Jeas This bil pro-
posed first 70 tax the banks OF The state (cxsmptng
tiona oankf) and these would be wound up within tt
ptsent year az 70 railroads the Oll would not reach
the most important roads in she statC-thc Vermont
Cenua ana me Rutland and Burlington for hc reason
thst w sioek was WoT HESS AID The roads run by uus-
tiers Of boncbolotrs, while tbs smaller roads would be
heavily taxed He referred 20 The proposition to form
ecrpnraiors ~ The Vermont Central nnd the Rutland
and Burlington roads and ftid II stock in such CORPORA
uent were 10 be 1sAed IL would prevent capitalists from
inyetios hef money in them thus prevent in por-
tsni rosds IN the Giate from being run by con oraons
lnbttso Of tJ uustocs as now No rarca hoe yet boe
built IN tts state which had not sunk he gira stock
nvtsttd, save the SINGLE instance Of tht Vermont and
Canada, and that cuiy from the fact t-i had been
LEASED 70 smother rond He rad an lairr-s in the in
crease 81 railroad facilities In this state ell lad urged
Capitalists 70 invest their money in tpese enterprises.
because Of the friendly legislation Of th state, but pa
this bill and tax the stock OF these roads, and
dollar Of ioTet capital would be invested in them
II we could not have the roads without exemptug the
stock from taxation let do it; but let have the
roads and thereby raise the value Of all properly on the
lines Of tue roads, raise the grand list Of the ate
lnhead OF Iecroiug by preventing them from being
built b. unfriendb eQelsiion Foreign capitalists woulS
never invest money vhe7e they must submit to the holt
list Of taxes-county, town, village and school district
veil as stat Towns had asked TO be taxed that thel
might build railroads and Jet the state would adopt
policy hat would dave out Of the STATE tho very oapa
ItquiYed to build them 4 understood that the bill wa
oetgnsd 20 Ietth the vermont and Canada road who's
stock vas worth something in the market, and in oTde
TO reach the teNauou OF that stock, gentlemen woul
strike blew a, he great railroad enterprises Of th
state The roads had ID thej could do to live now
they are FAXED, they must make il up In increase
Taies hat heJ would lie Obliged TO charge. and hence
directly taxing the business Of the country who
would be incidental 10 any state.
The next properly taxed private corporation
ard that on the ms1Act value Of the stock, and II don
in the manner proposed By the bill 1t would tax sue
stock for much larger proportion than other property
He cited al instance n the formation Of corpofatio
for the purpose OF developing hidden marble qua
ry A conf any was formed on foreign capital Whio
was brought into the State and for tho frat OF ",
years they spent moueJ without receiving any return
vein, and Their hopes raised, and with 1t the value
the stock in the market, and the State here comes
and imposes tax What is really fancy market yalt
of that stock when it geally produces net TIA
two or three per cent On the money invested II ".
unjust tax such stock TO the derimen Of the deyelo
mtnt Of the o. the State. Again. such so.
was taxed in the localities where II opned, and
tai the stock again in his State was an act Of nseo
Iaons would ever again be formed in the state for /.
purpose Of developing the resources Of the II
State of New York did not tax the stock Of their corp
rRtions and II would be impossible TO induce capitals
OF that state 70 come here to invest capital when II
TO be taxed Tor every conceivable purpose. He Ieieu
70 the increase in the grand list Of his town BE
pington) solely nom the fact that manufacturing CO
poauons were springng up there, which under This Ia
would wind up within twenty flour hours and take the
capital ou Of the state. He btlevedh We did not e
courage tbs increase Of these manufacturing establs
ments instead Of crushing out by taxation that W.
not imposed by ether states, should find our
creased at least twenty-five per cent lie cited the pro
osition that had been made by the MessTs bpragues
erect extensive manufacturing establishments 10 I
state CT Maine. that would give employment to 80 G
people, and asked II these gentlemen would con
into Vermont under this bill and invest $500 900 as tn
proposed 10 do 10 Maine. He said II thsy come he
with their capital they would begin to ask What Undue
Inents the state afforded 70 the investment OF this car
tai. Here was school district with debt viii h
must be taxed TO help pay the town in debt
must help pay that 30 that at every Turn he on
enormous taxes lie then wanted TO know what faci
ties the banks Afforded for accommodating him In ca
he wanted MONEY to enable him 70 carry the stock
Manufactured articles that must AZ times accumulate
his hands iand would be told that we tax our banks
that they could not afford 10 loan money less than
per cent
He asked for the railroad facilities and rates
transportation; and would be told, tax our rairos
30 that theJ have 10 charge high rates enable them
meet the taxation IMPOSED upon them by the State.
this time the man Of capital would be likely TO pack
his vass and leave the ate and thus should be