Orleans independent standard. [volume] (Irasburgh, Vt.) 1856-1871, 1870-11-01

oppose the proposed reference.
Mr.. Hall said that portion OF the
present railroad committee had SIM
liar bill under consideration and pass
ed upon it, reporting against it. tie
thought the committee itself would
desire to be relieved from the consid.
GRAFTON of the bill, and for that reason
he moved special committee.
Mr.. Wood cited precedents in the
reference of similar bills, and thought
there was no good reason for its ref
erence to any other than its appro-
pirate committee.
The motion to refer to a special
committee of seven was then agreed
to-Ayes 105, Nays SIS.
Mr.. Bull of Hancock moved to re.
consider the vote refusing the passage
of b. l03, providing for the appoint
ment Of an engrossing clerk and the
better preservation of the laws of the
State.
On the question of reconsideration,
Mr.. Slade of Middlebury, demanded
the yeas and nays.
Mr.. Ballard of Fairfax, opposed
the motion to reconsider, being op-
posed to the passage of the bill. He
believed that it is necessary that bills
should be engrossed to enable the
Speaker properly to discharge the du-
ties Of his Office. Amendments are
made to bills, and they go to the SEN
ate, where further amendments are
proposed and returned to the House ;
and unless the House can have an en-
crossing clerk so that, the bills can be
engrossed, we should be in a constant
muddle as to what were the provis-
lois of the bills upon which they are
acting. He also was opposed to
changing the power of appointing the
officers Of the House to the Governor
of the State. He preferred the pres
ent system and should oppose the
proposed innovation upon the customs
which had worked so well.
Pending the consideration OF the
subject. the hour arrived for the con-
sideration of the
Special Order.-H. As, relating to
the rate of interest. Mr.. Wood NOV
ed that the bill be recommitted to
the committee on judiciary; disagreed
to.
Mr.. Slade of Middlebury moved to
amend by striking out the word "eight"
where it occurs in sec. |, and insert
in lieu thereof the word ''seven," so
that it will read "seven dollars for
the use of every one hundred dollars, -
and briefly gave the reasons which
impelled him to offer it.
The amendment was objected to
by very decided vote. The ques-
tion being on the passage of the bill,
Mr.. Slade hoped it would not pass in
its present form.
Mr.. Hinckley thought it better to
consider the bill candldly and fairly,
and to give time in the matter he
moved it be ordered to lie, and be
made the special order for IL
o'clock next Tuesday afternoon.
Mr.. Bull of Hancock proposed to
save time. He moved the bill be
dismissed.
Mr.. Ballard of Fairfax was in favor
Of change of the law in regard to
interest to keep the money in the
State. He preferred the other bill
now in the hands of the committee
but if we cannot have that bill, let us
have this one. We are being lulled
to sleep by these Shylocks, these IL
per cent men, who are hanging around
this State House and warning these
farmers to look out for this bill, it is
compelling them to pay eight pei
cent. interest; whereas the fact is, We
are compelled now to pay a higher
rate of interest than provided by this
bill. In States where similar laws
have been enacted, money can easily
be obtained at six per cent. He sale
that if we made eight per cent. the
legal rate of interest, it will be better
for the farming interests and of all the
interests of the State.
Mr.. Drake said no bill now before
the Legislature was more importan
than this, and he hoped it would no
be dismissed. Let US deliberate up
on the matter and not act hastily.
Mr.. Brown of Richford was oppos
, , ed to the bill as being oppressive t;
the great farming interests of tn,
State, in that it would force the pay
ment Of higher rate of interest by 4,
class Of men who were compelled t,
purchase their farms on credit. III
wanted to kill off the whole batch O
these bills at once.
Mr.. Wood of Fairhaven, favored
the passage of the bill as being reall,
in the interest of the farming commu
nifty. Money will seek its marke
!, where it will command the highes
{. rate of interest, and if we deny t.
: money lenders the right to ask an,
receive higher rate than 6 per cent
: we compel money lenders to carr
D their money out of the State. In Mas
sachusetts they have adopted liber
D al law in regard to the rate of inter
q est, and the result has been that mon
Il ey has flowed into the State, and nov
/; any amount can be obtained at low
K er rate of interest than is now paid i
the State of Vermont. Our laws ar
= better for the security of capitalist
: in every respect except the legal rat
+ of interest. Pass this bill and none
e will flow into the State to the grea
advantage of all the interests of tn
= State. He hoped it would not b
l. dismissed.
l. Mr.. Grout of Barton. said that tn
opposition to the bill was represente
l. by the gentleman from Richford, VIII
e was a farmer, and felt intensely tha
: this bill was thrust at the agricultl
raj interest of the State. We mus
j. remember that we are an agriculture
0 State, and that we must not pass law
h that will oppress the interests of an
r branch of our industries. He was OF
posed to the bill as detrimental to th
v great pursuit in which we are all il
D terested. He opposed the motion t
Il. | l:..a.r- anl lox.aI Il xua..ld ho n