Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1868-10-14
Governors MeSsage.

Our readers will find in the annual message Of
Governor Page n very satisfactory statement OF
the financial condition Of the State showing
reduction of the debt by nearly quarter of mil
lion of dollars, or sixteen and one-half per cent
of the whole debt. Added TO this Is gratifying
prospect of being able to reduce it by the sum Of
at least three hundred thousand dollars next ycnr
and that without any additional tax upon the
people.
honest tax payer, are the suggestions of the Gov
ernor ms TO the appraisal of property in the Grand
List for the assessment of taxes. A neglect by
the listers OF any town to appn,ise property Mt is
cash value, is OF course, far as other than town
taxes are concerned, fraud upon every town in
the county and the State in which there il nm
honest appraisal the effect being to reduce the
taxes Of the dishonest ut the expense of the hon
est. II Is therefore question both of morality
and equality and it is certainly to be hoped that
the evil may be remedied BY effective provisions
for just appraisal. Our own town had occasion
for complaint at the last septennial appraisal as
against some other towns in the county, while
the county itself was doomed in an addition of
ten per cent. Whether Just appraisal through
the State would add to or reduce our own town
or county list, we neither know nor care. Each
tax payer should hear his Just share--no more
and no less. There has long been complaint of
fraud in personal property, and nobody denies
1t but this is small matter compared with the
differentiation of real estate, which figures in
property. While then the great evil Of SNUG
Cling personal property out Of the list is gener-
ally conceded, let il be remembered that there is
still greater evil in the differentiation of real
estate. II Il be possible, let our legislators find
remedy for both.
Passing by other matters in the message. we
wish most heartily TO commend the various sue-
gesti0ns Us 10 what we will call internal improve.
ments, and we include in that term liberal
policy towards foreign capitalists, and also foi
the development Of increased facilities for econom.
ical transportation by land and water. Since the
establishment Of railroads in Vermont, 1--WE com.
pare 1876 with 1861 the increase of real and
personal property placed in the grand list ha,
been nearly twenty-six millions Assuming thai
real estate has been appraised at half of its value
and that half OF the personal property has beer
set in the list, we have gain of more than fit,
millions, which is just about double the cost %
all our railroads. We do not by any means as
that all this increase in the list is to be cred
tied TO the roads. Granting that it is not MOI
hall OF 1t, yet when we come b add the value o.
the roads themselves, which does not 90 into IN,
grand list, and 10 that the amount invested il
United States securities that are not pledged 70
banking capital and taxed, the actual addition /,
the property OF the State By railroads, has beer
much more than fifty millions of dollars Tha
is more than half Of the real and personal prop
erty of the State set in the list in 1867 md nov
we ask, who gave il TO US
of the eleven millions in the Vermont Contra
ana vermont x tannda roads and branches, W,
think at least nine millions came from non-resl
dents and of the entire cost of all the roads non
residents have paid at least six-tenths So muo
for foreign capital in this branch of business
Can we be illiberal without mourning the oharg
of ingratitude? Can we be illiberal without IN
jury To ourselyesl To-day we want at least twent
millions OF foreign capital for the Woodstock am
Rutland, Lamoille Valley, Montnelier and n
Johnsbury, Montpelier and Wells River. am
shorter needed and projected roads and wbel
these are constructed, we shall need half as mucl
more for the profitable use oflumber, water-power
granite, marble, soap-stone, iron and copper tha
will become available through the railroads
Shall we get il IL we insist upon hard terms
Nay, the question is, we get il, or half of il
OF quarter Of it, by the largest lihemlity? tn
Governor Is entirely right, therefore, when h
asks for full valuation of our own property e.
taxation, but the largest liberty for foreign capi
tai. The first will insure justice, without any IN
crease OF taxation, while the last will be Ia
nest egg 10 bring US o brood Of railroads and man
uiacturing establishments to swell vastly on
future taxable capital Without foreign capital
we cannot have these and we must not forget tina
the foreign capitalists, who are most likely 10 al
us, are the men who own the railroads of Ne,
England and New York, and who are intereste
in a multiplication of Vermont roads as feeders |
their own. Let US be liberal then to all the raj
roads which are liberal TO us.