Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1870-11-04

the Treasurer to borrow at I $40 per cent. we
virtually say to the world that we cannot get
money at 8 per cent He hoped some bill would
be passed that would relieve the people, both
borrowers and lenders.
Mr. Grout Of Barton, was opposed TO this
bill. He thought consistency jewel when
principle was involved. But in this case there
is no principle involved, and hence there Is no
inconsistency. lie said the argument as 70 the
operation Of the law in Massachusetts, tending
to reduce the rate to 6 per cent. was not borne
out in prsctic,, for our State Treasurer IS COM
PEELED TO psy $40 per cent. among the Mas
saehusetts capitalists to obtain the loan we
authorize him to negotiate The argument as to
the money being allowed to 20 into the market
like other commerce is not tensble, in that any
man can raise his corn, oats, potatoes aud their
commodities whereas money is only made and
pat in circulation by the general government,
and all we can do individually is to gather
together as much Of il as we can Yer
mont is only an agricultural State, and must re-
main so, from the fact il Is too far from tide
water To enable our people to engage sus;ess-
fully IL manufactures. Agricultural interests
cannot afford to pay more than per cent
interest, and when We let down the bars en-
tirey, we thrust at the largest interests Of our
State. lie hoped the bill would not pas.
Mr. Hinckey, of Chelsea, disagreed with the
gentleman from Barton, as 10 his statement that
money is a monopoly. He thought money Was
pretty generally distributed among the people,
and was not monopolizet by any man or class
Of men. He hoped this appeal was
lot made made 70 prelutoe the farm
ing interests against the mercantile and
other interests of the State We are MI in
tere-tel together in the welfare Of the whole, AMI
u9 class interests or monopolies should De allowed
u' influence our actions in regarl to the a-rirul-
turil Interests Of the state d. thought there
was great force m the argument If the gentleman
from Burlington. that we were inconsistent Iu
allowing the State ami towns TO pay per cent,
and restrict individuals to- per cent lie said
that the .lw as DO now stands favored uussrupu-
lous lenders, who would hire all they can get, of
small Lenders, so per cent, AMI turn round in
Ieu-a'e oI n" NV. 'll 'H - '7i'.na percent Men
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ON r....s.s NJ Sale Of lEfH.bu--. adj
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SENATE
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PRAYER Hv the Chsnlaiu.
journal ot es-erily resi- ami llp-aV-L
H.s H'..t eit -a's-re. by H- Car
peu-er, 20 sm-ud the act Incorporating The
Vermont Conference Seminary art Female Cob
lsEc O. com. oa eiuet;.ou.
BY Mr. tlnsrT 90 extend The tine of c1uuenc-
ing ant competing the construction li Che
"eaihers1s.i aai t.irail7a' railroad o. COM
on railroads
ET Mr. Naa, 81 lrc.-- 1rs-e th- Hes, tair.se
Say.a-a B1na 90 CON. ou banks.
by Ar. C9Asuer, o-' lo-ir.rE the restoration