Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1870-10-26
Il. a. to incorporate the Burlington Trust
Company 10 com. on banks
On motion Of Mr.. llartshorn, adj


Mr. Hall Of swanton moved that the commit
ice composed OF the members from Bennington
county be relieved from the consideration of bill
II. IDS. to incorporate the Northern Railroad
Company which motion was agreed 10.
Alr Hall Of Swanton moved that the bill hc re-
erred 20 o select com. Of seven 10 be appointed
ly the Speaker.
Mr.. Wood Of Fairhayen opposed The motion,
the ground that It should 10 % its appropriate
oln--the com. on railroads The appointment oil
many special committees was unnecessary. and
De should oppose the proposed reference
Mr. Hall Of Swnnton said that portion Of the
present railroad com. had n similar bill under
consideration and passed upon it, reporting
against IL. lie thought the com. itself would de-
sire % be relieved from the consideration OF The
bill and for that reason be moved n special com.
Mr.. Wood of Fairhovon cited precodent- in the
reference Of similar bills, and thought there was
n1 good reason for its reference TO any other than
ID appropriate com.
The motion to refer to special com. Of seven
was chen agreed to-aycs l0j, nays 3d.
Mr.. Ball OF Hancock, by request moved to re
consider The vote refusing the passage Of II 1903.
providing i0r the appointment Of an cngr0ssing
clerk and the better preservation OF the laws OF
lAe Stale.
On the question Of rccJnslcring the vote, Mr..
Slale o! Mlddlehury demanded the yeas and nays
Mr.. Ballard Of Fairfax opposed the motion o.
reconsider being opposed ~ the passage OF the
lill. lie believed that it Is necessary that bib
should he cngrossed 10 enable the Speaker prop
erly 20 discharge the duties ofhis Office. Amend
ncnts are made to bills, and they go to the Sen
ate, whore further amendments are proposed and
returned 20 the House, and unless the House can
hayean engrossing clerk 50 that the bills can be
tngr0s-ed We should be in n constant middle az
90 what were the provisions Of the bills upon
which they are acting. Ile also was opposed To-
changing the power Of appointing the officers OF
The House to the Governor Of the State. lie pre-
ierrcd the present system, and should oppose the
proposed innovation upon the customs Of thi,
House which had worked 50 we'll
Pending the consideration Of the subject the
hour arrived for the consideration Of the
Speaa' OGcr-li IS, relating to the rate Of
interest
Mr. Wood moved that the ball be rccommittcd
% the com. on the Judiciary disagreed 10.
Mr. Shade OF Middebury moved to amend by
striking out the word eight where it occur
BOO sec l. and insert in lieu thereof the word
seven, - that it will read " seven dollars iu
the use 81 every one hundred dollars and brief
~ gave the reasons which impoled him to olc
The amendment was rejected by very decided
vote. The question being on the passage OF the
bin, Mr. Slade hoped it would not pass in it,
present Form.
MIR. Ilinckley thought it better to consider the
bill candidly and fairly, and 10 give time in the
matter he moved it be ordered to lie and be made
the special order for , - O'Clock next Tuesday
afternoon.
Mr.. Bull OF Hancock proposed to save time
lie moved the bill be dismissed
MIR. Ballard of Fairfax was in favor Of q
change of the law in regard to interest to keep
the money in the State. lie preferred the other
bill now in the hands Of the com. but if we can
not have that bill, let us have this one. We are
being lulled to sleep by those skylarks-these 70
per cent men-who are hanging around this
State House and warming the farmers to look
out Tor this bill. it is compelling them ~ pay S
per cent interest whereas the fact is we are
compelled now TO pay higher rate Of interest
than provided By this bill. In States where similar
laWs had been enacted money can easily be obtain.
ed at per cent lie said that if we made per
cent. the legal rate Of interest it will be better
i0r the farming interests and Of all the inter
ests Of the State.
Mr. Drake of Royalton said he was in favor Of
this bill for the reasons given by the gentleman
from Chelsea and need not repeat them lie wa.
not able to see why the money lender not a,
much entitled n just equivalent for the use OF
d. money, as when he sold horse or any other
property, AZ its market value The worth Of
money varies like that Of other articles.
lie had usually been called q conservative, hui
Il to favor this measure was radical. then he wa,
So. Once he should have opposed this change il
the rate OF interest, hnt now the prices Of prop
erty and the worth of money are 50 different thai
he would sweep away this old barrier, which ha,
blocked business in the State, and caused its cap
ital and people to float of 20 the West wher,
larger interest can be legally obtained lie woulC
sweep away this fruitful cause Of decentralization
by reason OF the evasions Of the present law.
lie was in favor Of some restriction and wOul,
he willing to extend it even to ten per cent, bu
should vote for the eight per cent in the bill
Mr.. Brown Of Richiord was opposed to the bill
as being oppressive to the great farming interest
Of the State, in that it would force the paymen
Of higher rate of interest by Il class OF met
who were compelled ~ purchase their farms Of
creoit. lie wanted 10 kill of the whole batch o
these bills at once.
Mr.; Wood of Farhaycn favored the passage o
the bill "a being really in the interest Of th,
farming community Money will seek its mar
kct where il will command the highest rate Of in
tcrest, and il we deny to money lenders the RICH
to ask and receive higher rate of interest thai
per cent. we compel money lenders to carr,
their money out Of the State In Alassachusett
they have adopted liberal law in regard 10 tn
rate OF interest, and the result has been tina
money has flowed into the State, and now an,
amount can BE- obtained ut a lower rate of inter
est than is now paid in the State of Vermont
Our lawsare better for the security of capitalist
inevery respect except the legal rate of interest
Pass this bill and money will flow into the Stat
to tho great advantage OF all the interests of th
state. lie hoped it would not be dismissed
MIR Circuit Of Barton said that the oppostio
TO the bill was represented by the gentleman
from Richiofd, who was a farmer and felt YER
fAifhNtiy lhhN thlN bllA was u ihfnNi NJ tt tWll
cultural interests Of the State We must renen
Der that we are an agricultural State and tina
VIC must not pass laws that will Cypress the In
terests Of any branch Of our industries lie wa
opposed 10 the bill as detrimental 10 the grea
pursuit in which we are all 50 much interested
lie opposed the motion 10 dismiss, and hoped
would be withdrawn.
Dir. Boil OF Hancock withdrew his motion I
dismiss, and thereupOn the bill WAS ordered :
lie and made the special order for % O'Clock i
the afternoon Of next Tuesday.
The question then REQUIRED on the recOnsiderf
ton of the vote by which n 63, providing for III
appointment OF an engrossing clerk and for III
better preservation Of the laws of the State wa
refused a. passage.
MIR. Kellogg Of Benson and Mr. Slade of MID
dlebury briefly supported the motion 10 reconsid
er, and hoped II would be recOnsidered and the
ii amendments are needed let them he made, an
thus secure the better preservation Of the laws
the State.
Mr.. Brown of Richlord opposed the motion o
the ground Of economy. We should not GREAT
new oihces and be believed we were not carelt
euOngh ms TO the expenses Of the State
Mr. Slade again favored the motion to reeor
slider, and stated some OF the benefits that are
result rum the passage Of the bill. We shall 70
erre the preservation OF the laws of the State b,
You'd the contingency ct interlineaton or alteru
ton
MIR. IInckley of Chelsea said the more the bi
was discussed the more he was convinced that
Ought not 10 he passed We were putting th
power IN the hands of the Governor to appoiu
the officers OF this House, and he was opposed .
the innovation
Dir. Bisbee OF Newport said there is evident
misunderstanding about the provisions of thi
bill. ID merely gave 10 the Governor the powe
10 appoint an engrOssng clerk 10 engross the bill
both OF the House aud Senate. There is no fta
OF any injurious effect upon the Executives c
this State. lie was opposed h the bill at first
but upon examination oft merits, he had com
to see that il was really good bill and one thu
should DO passed. Il would save expense TO Ia
State n facilitating the business of the Iegisla
ture. IL is enough for him 20 know that III
Clerks, Secretaries and all the clerical force abou
the state House are in favor OF the bill Ii ha
been tried in New Hampshire and worked admir-
ably and he could see no valid reason why
should not work well here
On the motion to reconsider, Mr. Hurd Of Sand