Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1868-11-11
LEGISLATURE OF VERMONT
FRIDAY, Nov. =.


I SENATE.-RspoTts.-F Committee on
| Education, Senate 90, to amend an act TO in
corporate the Vermont Episcopal Institute
From Committee on Manufactures, Senate
I 6l to incorporate tn e Isle La Motto Marble
and Lime Co.
\ Mr. Heath called up House As, repeating
act of last session, authorizing improve
ments in Nulhegan river and its tributaries :;
passed. Senate 50, to pay George W Brom-
ley the sum therein mentioned with propo-
sale of amendment from the House agreed
( to.
Referred.-House 143, relating to the wa
ter department of the city of Burlington ;
to Judiciary Committee. House SO, to in
corporate the Society of ST John the Baptis. :;
to General Committee
SPECIAL Ordsrs.-House 43, IN amendment
. an act entitled Of levy Of executions. On
otion Of Mr. Dewey ordered to lie.
Third reading ordeTed.-Senate 65, To in
rporate the Vermont Snath Co., (Spring-
eld.)
House Bills Passed.-ll6, to incorporate
the Snowdon Slate Co. II, to incorporate
the Queen City Fire Insurance Co.
Senate Z, enabling the towns in Franklin
country to aid in the construction Of the
Lamolile Valley Railroad. On motion Mr.
Burt ordered to lie, and made the special CT
der for 3 O'Clock on Tuesday afternoon
next.
assed-House LOG, TO legalize the grand
list Of the town Of Waterville for 1868 IO3,
the town Of Elmore Tor 1867-S; 1O2, the
town of Jamaica for 1868. House l24. to
incorporate the Winooski Rock Spring Hotel
CO.
House Bill introduced and reterred-
By Mr.. Walker, by request, authorizing
towns in Rutland and Windsor counties, to
aid IN the construction of the killington
Railroad to Committee on Railroads.
Third reading refused-Hoise sc, to
change the name of John 'Shatney; 73,
PhebeJ J. Dingee: 50, Mary WetherelI SO,
Patrick Casey; 90, Mary Elizabeth Little ;
ll3, Michael Donahue ; lis, Edward o.
Townshend.
A communication WAS received from the
Secretary of State, transmitting the annual
report of tho registration of births and
deaths. On motion of Mr.. Billiard ordered
to lie. and one thousand copies 10 be
printed. On motion of Mr.. Bullard, adj.
HoUsE-B Bills read the third ttnse-House
IS, to incorporate the Society of ST. John tho
Baptist passed House 143, relating to the
water department of the city of Burlington :;
passed.
Reports. Committee on Judiciary,
in favor of House 90, relating to recognizan an
ces in criminal cases, with amendment, which
was agreed to- third reading ordered. From
Committee on Corporations, in favor OF SEN
ate 40, TO incorporate the East Fairfield Mill
Company passed il concurrence. From
Committee on Grand List, in favor Of House
90, to legalize the grand list of the town OF
Winhall for the years Of 1865, 1866, 1867 :,
and 1868 third reading ordered. From
Committee on Corporations, IN favor Of
House 40, to incorporate the Middletown
Hotel Company third reading ordered.
From Committee on Corporations, in favor Of
House I48, to incorporate the Franklin
Slate Company third reading ordered. From
Committee on Corporations, in favor OF
| House 15T, 10 Incorporate the Maple Grove
Cemetery Association third reading ordered.
From Committee on Claims, IN favor of Sen
ate is, 20 pay Noble B. flanagan the sum
therein named passed in concurrence. From
| Committee on Banks. in favor Of Senate iS,
to revive and extend the charter of the Bank
Of Poultney passed IN concurrence kgom
General Committee, in favor of House 80, 10
protect fish in Dnck Pond third reading Or
dered. From Committee on Grand List,
House 1s6, to amend chapter y, General
Statutes, relating to the grand list. by sub
stitute BILL which was ordered TO third read
ing. From Committee on Corporations in
favor Of SonH.o 80. t. ineol poi@to t,e
American Horse Nail Company; agreed to,
and the bill was passed in concurrence with
proposals of amendment.
Special Order-House 50, in relation TO
the rate of interest. Mr.. Conant of Grafton,
moved that the bill be dismissed. Mr..
Fisher Of Westminster, demanded the yeas
and nay, which being taken were as fol-
lows: Yeas 155, Nays SO. So the bill was
dismissed.
Mr. Miner OF Manchester, moved 10
consider the vote for the purpose of propos-
ing an amendment making the legal rate of
interest seven and three-tenths per cent
Mr.. Fisher OF Westminster, and Mr..
Langdon of New Haven, opposed the recon-
sderation of the vote as they were opposed
to any change in the legal rate of interest.
Mr.. Gleed of Morristown. said the proposed
amendment was simply an attempt at tink-
would regulate itself, let the law fix what
rate it would. The demand and supply
would always regulate the price Of money
the rate that should be paid for the use of
it-and any statute in relation TO the matter
would be simply dead letter.
Mr.. Converse Of Woodstock, fully concur
red with Mr. GIeed in his remarks. only that
he would 90 very much further. Any limit
| to the rate of interest was detrimental to the
/ interests Of the State.
| Mr. Fisk of Isle La Motto, hoped the vote
would be reconsidered Az the matter now
stands, money goes out Of this State to New
| York for investment at per cent, and then
our people will 20 to that State and hire the
same money at a greater rate OF interest than
! is allowed by law. We should ut least raise
the rate of interest as high as was paid by
government.
Mr. Grover Of Wells, thought the matter
was pretty well settled by the decisive vote
| Just taken. He was of the opinion that the
rate Of interest ought to be raised to make
uniformity in this and other States but he
I not IN wild he
and leave still wider differences than now.
Better have the rate remain as it is, than to
try the experiment of unlimited rate.
! Money is not an article Of commerce. but
simply medium of exchange in the business
| transactions in the country. The plenty or
scarcity Of money did not regulate the rate
of interest that must be paid for it, but the
amount Of profit that could be derived from
it's Investment He would seek middle
and medium ground, and hoped the vote
would be reconsidered, and that An amend
ment would be adopted fixing the legal rate
at seven three-ten per cent.
Mr.. Holton of Jamaica, opposed any change
of rate Of interest.
Mr.. Fisher Of Westminster. said that now
the poor man could purchase farm and give
security at six per cent. In the vicinity
where he lived there was no difficulty about
the present rate, and he thought the State
ought not to aid the SPECTATORS by allowing
them any higher legal rate of interest.
Mr. Baldwin Of Hinesburgh, hoped that
the vote would not be reconsidered. He was
opposed to any change in the rate of interest
as tending to drive the laboring classes out
of the State to the West we should rather
encourage them to remain here in the State
Mr.. Gleed of Morristown. replied to Mr.
Baldwin's argument. by referring to the fact
hot ut he oct h.r 70 6 g