Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1872-11-06


Mr. ID bard said that the other State
officers were elected by the General Assem-
oiy while MIR. Slade WAS app tinted by
the u 'vernor. l. the theory OF the e ntle-
man from Hartford is correct, Mr. SIade was
! as much appointed 10 his Office for two years
as was the Governor, and his umenI
would give Mr.. olade the salary of 1915 per
year under the old law, which would leave a
balance now his due OF $500 Instead of the
sum the gentleman now proposed. As TO the
clam that the salary had been decreased, we
did not decrease the salary. hut in effect IN
Creased it, giving tim s $50 ior hrs term
OF cthce instead OF S37 5as under the old law
the services beng princIpa ly performed
IN one year, WITH very little to do tue second
year.
Mr. BJyntOn. of W Woodstock, said that in
stead ot gaming H. bit on this matter he was
getting still further in the dark. Both sides
cha med 70 De arguing their points under the
law, but there is evidently difference OF
opinion. even among legal gentlemen, as to
I construction OF the law. For himself be
did not know how To vote.
Mr.. Ballcu OF Burlington, said that the Law
as passed IN 1910 made oDe-half the salary
due aud pay able on The rising of she Leg IS
l4tuTe, Which was some days before the law
went INTO effect, and the com. looked upon
the matter as equitable giving Mr.. ) ade s. 5.
Mr.. FItli, oi springfield, sand be ia made
Inquiry and found that the other officers were
pald under the law OF 1870, and he beiles g /
the Secretary OF c VII and Military Affairs
should be paid under the same law.
Mr. PmgTee, Oi Hart ord. said that there
was 100 due to Mr.. Slade justly as there
was d dollar due to any ,ficer OF the House.
Mr.. MattisoD, ol ohaitobnry, favored the
amendment as proposed by the com.
N f,,tl -.sb
the gentleman from Chelsea, aud said prece-
dent was IN favor of the right Ot the Legisis-
ture 70 raise OF reduce ~ IarV u1 officers
OF the State, and that he sh ould be paid
under tie new law from the time 1t took
fleet, making the amendment proposed BY
Mr.. tlebird just and equitable.
Mr.. Miles, OF A banS said that the officer
by continuing IN Office, virtually accepted tho
new salary, and could clam no more than
pro rata under the old law, and the salary as
liked by tie new alter it went into effect.
Mr. Davis, OF Reading, opposed the
amendment proposed by the gentleman from
Chelsea. because he believed that there was
nothing due, and asked Mr.. Hebard to
withdraw his amendment as proposed by the
com. to ind cate whether the House were IN
,avOr OF paying Mr.. Slade anything.
Mr.. hebard, by unanIDous consent, with
drew his proposal Of amendment, and the
question recurring on the amendment as
proposed by the committee, it was disagreed
! 10.
Mr.. Davis, Of Reading, then moved that
the bill be dIsmiss,d d and on that QUESTION
| Mr.. Pingree, Of Hartford, demanded the
yeas and nays which were taken-ayes l25
rsys, 50. s. the motion to dismiss was
agreed to.
Mr.. Pitkin of Montpelier, called up II. 8,
relating TO interest
! On inquiry Of Mr. Bufterfeld. OF " lining
ton, Mr. MLnson # Manchester said the re-
port was a maj rrry report.
Mr. Butt,1teid said he was opposed TO the
law, az II now stands on the statu e books.
but II at mon'y should be governed by the
same laws OF demand and supply as governed
all other cJmmOdI.i,s. 1t we pass a fixing
I,r ce beyond which 4 ,ur should not be eOld
IJ would have the same effect, IN time OF
scarcity, to drive all the -four out OF the
State, aud tie people would have to 20 out OF
the Stale for ur, OF purchase Of dealers IN
the = ate violation Of law. 81 II Is with
money the supply and demand must reSu-
late Its price. Every ShylOck IN the S'ate
was in favor Of the Iaw as It now stands be
cause It creates a scaTcity OF mon y, AID eu-
abIed them 10 get their ; and 10 per cert.
On whatever they Tad TO loan. Our citizens
send their mon, TO Massachusetts to loan,
t cause lht law Was idkOEdilts anu We NJ z
gjing To Massachusetts aud hiring that came
money aud paying brokers' Tor transactlns
the busin,,s. He said that all parues 10
Massachusetts-bnrh the lender and the bor-
rower-were eatrfed with the law IN that
Stale, and he huped this state would follow
the Example OF Massachusetts.
Nr y hItcOm b, OF Ludlow. said nc asked
the sseg, of this bill rs burIower, an not
Il a Ieuder, believing that those who sIe en-
gag, d IN developing the resources OF the State
" uid be benefited, and, IN that IT would
q cate home market for laTm products, il
would benefit the farmers. Toe nearer We
can bring producers aud consumers, the
greater the beuett 10 both, and he believed
ths hill would tend to just that condition
ui btfaIIs lie would not have the Teguia
legal rate Of SIX per cent increased. but there
" ere tmergehct,s wh,le busIness mtn could
afford and were willing. 10 pay more, and they
should lot be restricted He al, ed with
Nj. ButtoIfcld that the price Of money
should be regulated by the supply and de-
IEand- There aIe times when there ls Il
strInsency III tie money market, and We
Should allow m,n to 90 INTO the market and
hlre 1t at us current value, and not Oppress
the laborng class 10y stopping the mechanical
and industrial OccG patton Ot the State. lie
dt u ecated the efforts that had been made To
array capital against labor, as the two shUu d
wuIk together III perfect harmony. lie be-
lievtd this bill was not in the interest Of
ban nkers and brokers, but will commend
Itsell to al classes, and tend TO the advance
meuJ Ol tue best interest ui the State, as we'll
as greatly improve cur morals.
MIR OImsb,e, of Brandon. did not agree
with the gentleman as TO The effect OF this
bill, or the propriety of it's passage. lie
said that money was the standard of all
values, while other commodities were perish
able aud must often change hands. he
money changers have 1t their power to
lock up money in their chests until they
create such a scarcIty as will raise its price
beyond tile reach of the poorer classes
wuile ey cannot do go With q ,ur and other
commodities. lie said that the money lenders
were the ones most desIrOus Ot the passage
Oi this act As to the claim that this law
drives money out of the state, he believed
that that state OF afftirs was attrI Ibuted TO
the law when required the town clerk
to notify the town clerk of a neighbor-
ing town of all mortgages held in the
first town by citizens OF the second town.
Men would send their money out of the
state to escape taxation, and that was
stronger incentive than the TACT that six per
cent. was the extent of legal interest that
could be taken. lie did not believe this law
was demanded by the money borrowers, and
believed that two-thirds OF the money bor-
rowed IN Vermont was at six per cent. in
terest, and there is no call for any change
Pass this law, and the door is opened as wide
ns though we take it off It's hinges. 1t is a
well established rule that the man Of mouey
has The advantage OF the man who has no
money. and we should not help increase that
advantage BY psssI, & this law Ii then our
landed securities are btariug only S per
cent interest. and all parties are satisfied
Wild that rate, there Is call for a change.
Mr.. Carpenter, of Charleston. had 10 deal
with this matter as a man who had for thirty