Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1867-06-19

thorizing a subscription ON the part of this
town for $4,000 in stock OF the proposed
road, or that amount of stock and bonds il
the road shall issue bonds before its compile
ton. In order to have this instrument OF
assent binding upon the town, it must be
signed by majority of the tax payers bott
in numbers and amount of grand list. The
paper is substantially the same as that used
in st. Johnsbury and the other towns along
the route, and which has already received
the assent of majority of the tax payers in
these towns.
This question of aid by towns to build
railroads is comparatively new in Vermont,
and naturally enough excites considerable
solicitude among taxpayers. The law allow
ing towns thus to vote aid is not new, how
ever, in other states. Large towns and cities
have contributed elsewhere in their corporate
capacity literally to these enterprises, and
and have reaped large profits from such out
laws of money in increased population, wealth
and importance Portland gave million and
a half dollars to the Grand Trunk road, and
since that road was built the valuation of the
city has risen from seven millions to thirty
millions. States have given aid in many in
stances to such opening of communication
and facilitating traffic between distant points,
and. as far can be judged by statistics.
have judged wisely for their states in thus
acting There is now law in New York
which appropriates out of the treasury $4,000
Z 4 IL.
is law III Maine which authorizes any town
to vote five per cent. (Which would in this
State be equal To 500 per cent? of its grand
list in aid of any railroad by which it is ben
Gifted In short the modern, and. as is now
generally conceded, the most equitable way
of constructing railroads, is by raising por-
ton of the cost upon the grand lists of the
towns to be benefited by the road and this
is upon the principle that the burden should
be placed where the benefit will fall. If the
road like the Passunpsic, pays a fair interest
on its cost the towns do not lose their invest
ment, and if it does not pay in direct divi-
bends, but onl V incidentally in advantages to
business and property, then the tax is the
most equal way of making the property and
business benefited partially build the road
Ii is upon this principle that all highway
taxes are laid upon the towns, and especially
such taxes as are laid for contribution to build
highways outside the limits of towns Ia he
largely benefited by such highways. 4 few
years ago the town Of Montpelier, acting on
this theory. voted Il contribution of $1,000
toward the cost of the Eagle Ledge road
the advantages which would come to this
town from such road ar the proposed
The gentlemen signing the above address to
the taxpayers admit its prospective value
when they say they "are not unmindtul
of the deep interest of the citizens of Mont
pclier in the success of the road. and OF
their willingness to contribute literally to-
ward it OF its value to the town there can
be no question. That it would. if built, be
worth annually more than the interest Of
: 80 900 there seems 10 Us To bee no reason
payer must be the judge-and the law hap
PLY gives him the right to judge for himself.
and agree disagree he may think most
Cor the interest of the town. For ourselves.
We are willing to be taxed for our proper
ton of the : 80 900 and if that amount Of
stock is to be taken in this town. we can con
ceive of no more equitable method of paving
for it than by loaning the credit of the town.