Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1870-12-01
The General Assembly and its Acts.
The General Assembly of Vermont, tn

sembled in the history of our Common
wealth. In review of its proceedings
the question arises, what was accom-.
plished? Much was done that was for
the benefit of the State and indicates pro-
gress in certain directions, and yet the
most important legislation, recommended
In the very candid and able message OF
Governor Stewart, failed to receive the
consideration due to the excellent, sound
and practical suggestions OF that decu-
ment. Also much of value that was
presented from the people through their
representatives that was decidedly for the
interests Of the Sta te and the prosperity
of the people was completed. 1t seems
strange to those who do not appreciate the
moving causes, that all bills relating to
the rate of interest should have been de-
fsated by such large majorities. 1t is
very patent to all observers of the ma.
chinery of business, that this is grave
mistake, and that refusal to increase
the rate of interest to its market value is
actually legislation detrimental to the
material interests of the people. At the
same time that they refuse to allow
money to be merchantable commodity,
laws are enacted allowing Operations OF
all kinds to pay more than the legal rate.
Why this? Because they know that
money cannot be procured at six per
cent. to carry forward these enterprises.
1t is a strange anomaly that Legislators
will vote that no man shall receive
more than the rate of six per cent,
yet as individual money lenders they will
not loan dollar at @ per cent, and if
borrowers they know full we'll that they
cannot borrow hundred dollars at the
legal rate. This strange inconsistency be-
tween law and practice is the most incom-
prehensible thing in the action of the men
"most noted for wisdom" The course
pursued by our Legislature is daily driv-
ing capital from the State, and preventing
Its investment in business within our own
borders. The great cry is raised, Why is
it that Vermont, possessed of such excel
lent facilities does not build up its manu-
featuring interests, and why does its
money flow out for investment in other
States, and to build up other communities,
to the neglect of home enterprises? 1t is
because Legislation will not allow citizens
Of the State TO get market value for their
money. A man having load of corn to
sell will $40 sell for fifty cents per bushel
when he cen just drive beyond the boun-
Diary line of the State and get seventy-fve
cents for it. So will not the man of
money loan it at 6 per cent. when by
going abroad he can get seven, ten and
twelve per cent, with as ample security
as at home. Money will bring its market
value just as readily as will corn or wheat
or the products Of the dairy. Then why
legislate that no man shall get the true
value of his money any moro than legis-
late that he shall receive only fixed
price during the year for his produce,
however much the market may fuctuate.
In our judgement the policy pursued is a
mistaken one, and our legislation unwise,
to the great detriment of the State No
step of progress will be taken, nor will the
burdens Of taxation in the State be less.
ened so long az this policy is continued.
For every dollar the State Treasurer was
compelled to borrow, to pay the members
of the Legislature for their services, he
had to borrow at $40 per cent, and was
, authorized to do SO by the sanction of the
General Assembly, This is one instance
of inconsistency in legislation and prac-
tioe
The Legislature also refused to pro-
vide any method for the more equal ap-
praisal of the property of the State, and
this too, in the face of the most glazing
frauds in the valuation of property; thus
leaving an inequality that must be APP
parent to every intelligent thinking man.
Yet these very men are groaning under
the burdens of State taxation, and crying
out they are to grevious to be borne, and
ell the attempts to remedy the evil, il
that d man must swear to his Individual
AAsh "htb Ab PlSSChtS ~ w VIC NSbSLS
What is it's value when three fourths o.
the listers of the State refuse to swear t.
their appraisal of property and go to thu
Legislature to have their Grand List
legalized, or in other words, ask the Leg
islature to commut perjury for them be
cause they do not desire to perjure them
selves. II has long since become evident
Vermont will never have a more equa
taxation, so long as men are allowed t.
appraise their own property No othe
State in the Union allows it, and yet, tn
moment bill is brought in to that effect
it is kicked out like foot ball. When
bill is brought before the General AS
sembly for the purpose of reaching proper
ty that ia as Justly liable to taxation, a
any mans farm in the State, and is pro
tected by the Legislation, and the courts
and yet does not contribute one dollar t.
the support of the Government, the Leg
islature turns cold shoulder, and says W
will not give it consideration for mo
ment. This too, only when q moderat
tax Is proposed upon ten millions OF dol
lars, which is just as liable to taxation a
the house of any Individual. The pee
pie of Vermont must not look for pros
perity; nor the land holder expect to b
relieved frem the heavy tax on his acres
so long as the Legislature pursues such
course in reference to the Grand List, an
taxation.
1t is high time the people demanded {
their servents, intelligent, just and equi
able action upon questions of such vita
importance to the welfare of the State.
Having given some of the chronicles {
the wrong side of the recent Legislator,
we propose to narrate its good deeds at
future time.
GENERAL WAR NOT ANTICrPATEJ