Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1869-10-22

fNae.s-
- pune, general efficiency, and consequent
% 'A1e LOT the purpose for which il is maintained.
~ Nould tend greatly to the completion of the
~ elI'uons now authorized, by stimulating
.ie i.G.ra'lon, by voluntary enlistment Of the
'''OiiA companies required for that purpose
ANNUAL REPORTS.
Ihe remaining annual reports to which Ihave
not alIuueu VIII De laid before you for your con-
sideratiOn. have not vet had onnortnntv IN
give them that careful examination which ihe,r
importance requires. Should find IL neces,.rv
to do so, will call your attention TO them during
your session.
LAW REGULATING RATE or NrEREsr.
There is one matter Of existing LEGISLATION
which | regard as Of sufficient importance in its
present bearings to justify my calling It to your
special attention. The certainty that existing
positive law cannot be violated with impunity-
that trausyression, if known, will surely be fol-
flowed by punishment-has as much influence in
promoting respect for the law and preven'ingitE
violation, as the example Of visible actual pun
ishment. And the continued existence upon the
statute book Of positive law which has become
80 far obsolete as to he wholly disregarded and
openly violated with entire impunity, has $ ten
dency to weaken respect for all law. The law Of
this State prescribing the legal rate Of interest
for money loaned, and positively prohibiting the
taking either directly or indirectly, Of greatet
rate Of interest than the rate prescribed, is now
in this condition. 1t Is daily and openly violated
by banks and by individuals, and its violation iS
entirely dsregaried. 1t serves only as check
upon those who are too conscientious to knowing
ly disregard any positive law, and operates IS
an inducement to them to send their capital
abroad for investment, instead Of investing it in
the State for the promotion Of its industrial man
ufacturing and mechanical interests. IL Is thus
a direct element Of moral and practical mischief
The only remedy for its enforcement is given to
those who consent to borrow money at a rats
exceeding the lawful rate, and involves the
necessity # their bringing suit to recover back
money which they have paid in pursuance Of
their voluntary agreement Ii thus operates
mischievousy both ways. # allowed 70 be vio-
lated with impunity il weskeus respect fsr-AH
law; and a remedy for It's violation can only be
obtained by sancti0ning the violation Of the
promise in reliance upon which the loan Was
effected
| recommend that the subject be carefully con-
siderel and that the law be essentially modified,
I or ample provision made for it enforcement by
the ordinary officers Of the law, or by some per
son not a party 10 it, violation; and this without
reference to any supposed interest Of either bor-
rover or lender, but only for the promotion Of g
sound morality and respect for law. Iftte state
is willing that there shall be no power to enforce
a penalty for a violation Of the positive Irohioi-
ton, if the parties agree that It shall not he
enforcei-that if both are asserting parties to
the violation without punishment, then such yio-
lat0u is legitimate and cannot be punished,- 1t -
better 10 egalize such agreement by positive leg
islation; and if the violation Of the prohibition
is contrary to the moral sense Of the Legislature,
then effective provision should be made for the
punishment Of such violation.
DEVELOPMENT OF RESOURCES.
slrily ever remaln essentially an agricultural
community, although the progress made in The
development Of the mineral resources Of the
State, the marble, slate and iron, found in almost
I iueKhau-tihe quantities has 20 a considerable de-
gree modified the original character Of the ; ate
/ ia this respect The result Is. that large nun
I bers Of our young men, trained TO depend for
their livelihood upon the fruits Of patient Toll
upon the farm. attracted by the rich soil. easy
cultivation and large returns Of the slluvial Ie-
gions Of the Western States, leave the Stare
yearly, thereby preventing any considerable in
crease Of our population, and enrlchiug the
States 10 which they remove. with intelligent
citizens bred in the law abiding and God fesriIg
habits Of New England.
Eyerynew branch OF industry which is intro
duced into the State, has tendency to modify and
control thi- difficulty, with which, = State, We
now have TO contend, and at the same time by
developing and improving the resources Of the
state adds to its capital and by enlarging the
basis decreases the rate Of taxation. ani direct-
Is benefits theagricuituri.ts Of the State BY in
creasing the number Of home consumers Of
agricultural products. Every considerable
stream in the State affords water power
F IN numerous places, which has not yet been put
% use and large amounts Of lumber. iron. and
other material sre sent every year from the State
/ 10 te Manufactured in other States, and return
eli in their manufactured form TO be consumed
in this STATE, thus paying to other communities
the profits upon the manufacture, which might
/ and should be enjoyed by our own citizens
/ 1t i worthy Of serious consideration, whether
some means may not be- devised, By which the
/ resources Of the Stale may be developed and put
to use within cur own limits, whether by wise
and judicious encoura cement Of the various
forms Of manufacturing and mechanical indus
try, capital may not be induced 10 flW into the
State for investment. and the capital within the
State be retained for investment at home. Posi-
hly a mobilization Of the interest laws 10 q Ger
tain extent, or the absolute exemption from tax
alton, for A limited time, Of capital invested in
new manufacturing or mechanical establish
ments, instead Of leaving ii, As at present, to
the uncertain action Of towns, might have 8
tendency TO promote this result; and other
modes Cf accomplishing the purpose. may sug
pest thsruselves 10 the wisdom OF the Legislature
lt IS a subject deservingof careful consideration.
and the example set by other States. msy be
studied 10 good purpose.
LEGISLATION
Legislative law, ike judicial law, derives it's
chief element Of value from its stability.
Judicial body, which should annually modify, or
overrule, its previous decisions. would be regard
ei as unsettling the course Of business and would
cease to command respect. Every reason. which
requires that the course Of Judicial decisions
should only be varied for the most eogent rea-
sons. which has made - stare decisis " one Of
the maxims Of the law, applies with equsl force
to general legislative enactments involving the
rights and relations Of persons and Of COM
muuit:es. Yet it i we'll Understood that
while courts change their decisions, when
once made, only with extreme reluctance.
and as the result Of the most deliberate examin-
alton, legislative bodies feel tbe'n=-ye governed
by no such rule but yearly repeal, motify and
essentially change laws, both legislative aud
Judicial previously existing
This constant change in the course Of legisls-
tive euactmeuts, i frsught with mischief; for 80
that 4 law be not positively mischevous, it is Of
full a. much Importance, that it be thoroughly and
generally understood what the law - A. that il
should be in all details the most perfect sys-
ten tha5 can be devised. 4 wise Conservatism OF
the laws as they exist, far as is o'usi-ent with
a due regard 10 the progress Of TIE age and the
changing course OF business relations, would 20
lar TO make the general body CT the law better
understood and respected, 20 place upon a firm
foundation the interests %; the Safe and
Of individuals. and At the same time
be promotiye Of sound economy by diminishing
the amount of business transacted by the Gene
raj Assembly and thus shortening tn length Of
its sessions.
Much time is consumed annually in the con-
.iieration and enactment Of oils for the fs--
nation Of private corporations By chapters
eighty-six and ninety OF the General Statutes
pros ision Is made for the voluntary association of
individuals. with full corporate powers. for the
various purposes therein enumerated. and care
fully prepared and well guarded system proyii-
ed for their control and management Yet ofthe
whole number Of charters for private ccrpora-
tons enacted in the years lSb4 10 le6S. in
elusive, sixty per cent. are for corporations
which might equally as well have been formed
under the general laws without coming before
and consuming the time Of the General Assembly.
D1e regard 10 wise economy in the expenses
Of the State requires that your session should
be limited 10 the shortest time which may he
consistent with a proper transaction Of the bu-i
ness which may come before you. A jldicious
disinclinatiou, decisiyely manifested, TO adopt
any proposed change Of existing laws, any
general legislation tor special cases. without the
clearest conviction Of their utility, and req ire
ment, that all persons. desir0us Ct being IucOr-
porits1 for any of the purposes, for which pro
vision for ASSOCIATION with corporate powers $
maize by the general laws, should form their
sociation under those laws, or that 4 bill for
such purpose should only be entertained upon
prepayment to the Treasurer Of specified sum
Of money for the use OF the State, would have
great effect in producing this most desirable re-
suit by diminishing TO a considerable eGtent the