Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1872-12-07

REGULAR MEETING on TUEsDAY-A MEET
ING or TIE BoAKn CALLED 10 CONSIDER
THE IRON FURNACE QrEsrIoN-TnE TAX
ANp UsuRY LAWS Considered.
A regular meeting Of tie Managers of
the Board Of Trade was held Tuesday
Vice President Lea in the chair.
The SECRETARY reported that Mr.. George
II. Sellers had siguiioi his accef lance of
the invitation of the Board OF Managers 10
answer the question is Wilmington a
good location for the manufacture of pig
irons" and asked the Boaid 10 nX tie
time.
The Managers accordingly resolved that
A special meeting Of the Board Of Trade
should be held next Tuesday evening. 10Th
inst. 10 hear MIR. sellers answer 20 the
aucstion addfcs ed to him. Il will be seen
that this will be IL meeting of the whole
Beard, and il is desirable that there Should
be n full attendance Of the members.
the Committee on Legislation submitted
the following report
NuMiNGroN, Dec. a. ls52.
10 the President and Managers Of the Board
OG Trade
Your committee to suggest pltnof oper
atinns tor securing proper presentation Al
the nrNt session OF our state Legislature ul
I the OPPRESSION Of AlNf fNnANNtna AANNANa'H ~
this cts by tic eS isting tax and usury lnw'
would recommend the appointment Of the
: following committees:
/. A committee to preseat the objection
able features qf the existing taN laws an'
| recommend their modification and 10 rcpea
I the tax ON travel.
p A committee 10 urge tho repeal Of thu
/ existing tag 0n loan associations, ana tax
measures through cooperation with the ON
/ GERS OF such associations Aud other means u
secure such repeal.
g. A committee to recommend such mod
/ incation Of the usury laws of this state q
shall do away with the penalty ot ioricltur
/ Of the principal In case OF usuty. aud legt
I ling special contracts In writing Tor IN
loan of money ut any rate Of interest the par
ties may agree upon.
We would further recommend the appoint
ment of committee to procure copies Of III
general corporation laws Of some OF IA
States, and other data bearing on the sui
ieot, with view 10 procuring TIE passage
u general incorporation law Tor this state
order to avoid delay and secure uniturmit
in charters for manufacturing and otht
'''' tSigned,) W.. 2. ORoAsDALE.
WN. II. SWIFT.
The Chairman stated that Mr.. Elwnr
Belts, the other member Of the Iommtte
= had united IN preparing the report an
= had expected 10 be there last evening
5 sign IL.
4 Mr.. James Bradford opposed the ado
ton Of the clause relating " Loan Assoc
e atious, unless an effort was TO be made
Z have the tax on all mortgages repeale
. The 81 ecial lax on the gross receipts
= such associations had been taken OF loI
I. ago, aud there was no tax GU them no
Q except that on their mortgages which +,
equally on all holders OF mortgages.
Il After the matter had been discuss
some time, the second clause was siri.k
E out BY unanimous vote aud the remand
Il OF the report was adopted, several gent
}, men making speeches on It.
: The opinion most generally express
" appeared to be that except the ton cent t.
d on travel, none of the existing state tax
d were burdeusome, aud the objection
p them was principally In the manner
It laying them.
If On the clause, In relation to the usu
q. laws. there was most hearty and una
N nous expression of commentator, q
le Mcssrs. Wan. c. Gibbons, Geo S Cape
le ara ther gentlemen made speeches,
nouncing the existing laws as otierlug
t. premiuni on rascality, and doing III
nj th,nal other cautes combined to Grip
II business in thu city by driving capital
a seek more profitable and safe inyestm
to elsewhere.
N The following were elected members
he the Board i-Wm. II. Biilany, George
he Plerson, Charles Baird, James II. Beg
VIM, H. Feulk and Aaughey & Ferry