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


Butwhen We attempt to 20 btyood this and in addition
to taxing the properly Itself tax ais the representative
value Of his prop I IN the hands u Shareholders then
you impose an uiJus' aud unequal tax this u
propert which not eyed On any other closs Of ptop
ery.
from so JOhnsbury that old need foreign CAPT
10 build manufactures aud develop she interests ofhe
State, for hs reason that ready have capital enough
without IT, In z 30s and other government bond dis
tributed among the people all over he State That ar.
eumsnt had been sut enty by the gebtlenan
from MGdcbufy. when he had { Id us that those who
hold these government bon-s would invest them In
works Il public i'm, rovment or In any vav that they
were public benefit ony far as i was aiding the
general government which being supported on the
money nye te in them The return ofinterest howev.
was sure while TO invest In promoting manufacturer
in developing the mineral resources Of the State was
not Of lie return Of profit II those who bold the
government bonds In our midst would aid in deyel-
opiug the Of the State let invite among us
those Who would DO It, and give them that ufage
pent hat you'd induce them - come II we wanted
wealth we must 20 where wealth Is, or invite 1t to
among a.. Vermont has advantages superior to any
other state, and yet she Is behind all other States be
cause she had failed to oser and promote those great
Interests that essential TO her full development
Massachuses has fosefed and protected her maAafac-
lures and her rairoad aud had even made enormous
appropriations from her State treasury 20 build up and
extend her railroads. Vermont would Law an embargo
on all ihele aud prevent willing capital fou investment
Gu the STATE The policy II gent emen appeared 10 be to
keeo the seal " The State buried in the bowels Of the
earth 90 be dug up hfy or hundred years hence. For
himself ho wanted some ofthat veal h. and willing
that foreign capital should be allowed TO come la ami de-
veup without being subjected 10 the unjust provisions
But how is t about the railroad property Of the Slater
The g,uueman from Poluey has told us Of the sad ex
pefnle he had a. pioneer no. one Of the greatrail
road eneipfscs Of the tate, and The large amounts
that he hal sacrificed therein Does he want 10 hinder
the further Progressed our great railroad enterprises and
prevent the great pub c dement's to sc derived from them
Pas this bill and The object is accomplished 10 tau.
though bus small part Of he capital would be reached
by According the statement Of the gentleman from
Inuuef there Is about 81 COO 600 Of capital Represent
ed iu the railroads Of the STATE. and HE provisions
ofttis m would reach only about So 0OJ 600 Of H. cav
N.r rfaI
bonds and not BY corporation He thought the bcue.
hts FOO the STATE % be derived from these railroads n the
that haa been produced by fcasorl them, sufficient
ly apparent 70 satisfy him that the true pog Of the
STATE would be- not to tax them, but rather TO ncour
age heH extension pc lfaOie orc M ances under
which the Vermont and Canada road built and
fact hat it im ediaey leased at tena that paid
good interest GA lhc money invested IN H. made that
road al exception 60 all the Other roads u the STATE
and Ct els va, paying Investment 10 ought TO be
taxed md would ue with va NE passage Of this BILL
The road that does not pay six interest ought
not 10 be- taxed 0enteuen had stated that the Castie
ton ana h'chal railroad paid 20 is present 0tners
seven per cent interest nj did and the owners we're
honest men, and he believed thy were ~ had been set
in she Inst and paid taxes But be had made some in-
qgres slecirg BE- since the statement had been made
aud 1c had ouud the facts quite different
lie next nouccd the rta cnents respecting the West
ern Vermont road which had been represented 10 cost
originally some 50 600 OIO; the stock biusht up at
about $40 900 and which received income from rent
Of S35 0lJ aud come gentlemen had SCENE 70 think
WA "a intre't De b. in this road Of which he owned
the majority 0f tIe stock, what iaductd him OPP
70
that no such 'thsh motive influenced him. Heinvested
hs capital n bat road because he beeued that the true
interests 40 The section through which passed De uand
eu NAV ca ud De naiutaine1, ana hN by helping 20
sustain t@no was pr noting every other interest n any
manuer 40 uecied with d. The same policy ought q
De- pursued towards that aud all other roads by h- leg
ulauIe q the state They great public necessity
increasing The wealth and prosperity of the state at
large and the demand BIS or more roa s. that the bene
hts mty be m .ft widely dd ised. Why, sir, here
havc ite gentleman from Woodstock with p tiiou
for thc ls.iaat rero O. certain towns the priyi
rf o. NHr hI n fI. .fr
midst nH huuc tRuug lat -u an enterprise woulI
aad tsaf Do &C. o the so itri catn n those towns than
She whole tsx "ou'd amount 20 The people n those
towns believed mo- doubt thit there manufacturing
t.c ties a1ng the hae ~ che c1rtcmplatd road when
would BE- improved and tta there were hddea resou
thN voaia De de'e yea could ihls Quiet TO Iealy
market Boz constructed But scc1Tdng 10 he Arguments
ofgeuteucn WHO favored this DILL be better go usck
h eons ufnts and te hem 81 is useess aanderins
OF their property Il they have water prvleees THAR IRE
inviting tuc eaaiaIis 60 invest his money the promo
ton ~ m nuacures let q en- rest they are l1t as good
for IA next scntrsuou as fr The preseut Let alone
the vast amount u wealth that lies hidden 90 the Do Fels
Of the earth, and leave 10 Tor th1se shall after
them, fny a hundred years hence, 70 develop and
reap th' rcfrom rich reward
The gentleman from st. Johlsblry had told us hat
the ftssurs sic railroad paying 70 its stockholders
dividend ,f7 cent II that is true aud the man
ayers OF toe road are honest II was set In the list and
ps4 ts present statute and the passa OF
ihs ban would not alter the case The same genilcmlu
had also depicted the increase Of pau'eri'm and the
Of crime that were Incident 10 the n'roduot on
% railroads aud manua 'iur'og corporations bu be de-
uied 90 A. thc proportion TO tue population nd veal
What docs the gentlcu an propose to do; He would
hayr our 20 Il houses empty GU, iis ert, and 70 ef
fet 4 would M sue such polio. az could leave our
III iaqfs eupt oue towns f8.sakcn and the State a.
l-rge buf lfe better than a barren d so alton Was
ths ia accordance with sound licy? lie hoped the
GOOD tenre d. this House eold see il in altogether
d.f.r.nt grt
Inc gentleman from Chester was disposed 70 nd fault
win our whole stsem Of taxation and demsndst that
radical changes should be- made the purpose ofreaca-
Jug ,cs.sa aou whom hc STYLED .'shrks' who we're
h5duy ate amounts of capil so covered up that the
Listers W ne never nbc 90 reach it. lie rdid NOS ubt
shat tnee were those who sould, II they could shrk
their inst proportion VI txaton but in order TO reach
tbem t was No reason mat ltqislaon sho De direct
Ell rga ~ other tlsses who sefe willing 10 nav taxes
ON eye d.lIor tbcy possessed No tlass OF property
pfd rxes o it, ul value and he would say 20 iue gen
ucman from Chester or any her gentleman. that bee
would agree y" Ase every o'a, o. trop i' 1 n5 'vNA
gr,,bt ia, ''''' 1'' ~ '''
Mr. Park sgain referred 70 The principle adopted IN
this 6l OF taxing the shsfes N totpofaI,ns on lheii
sc,,,,c IN .,oEs ,bc .oyla aver and " lij Ave
Their value TO blous rates aud we cannot prevent IT,
butwss right iof The leg stature TO SEP M and levJ
Jpn ,u,n ',0N ,-a Gr ' WI ",'I -s' avn G
Fos'i,ns ssts fo'asi Or The pqp.s' q ,nsasiag IN
Q