Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1874-11-20

Butler & Co. would be overrunnlng vermont
to obtain the fees provided in this bill, and
he feared it would lead to political revo-
luton in the State. 80,
Mr.. Bailey of Fairhaven, opposed the bill
as being unnecessary, and interfering Win
the rights Of individuals.
Mr. Gilman of Montpelier, thought there
were enough informers, stool pigeons.
and that class of persons under the liquor
law. and if we pass this bill with this fourth
section we shall increase that army OF men
in the State, and he was opposed to such IN
crease.
The amendment to strike out the 4th see
tiOn. was then disagreed to.
Mr. Dana, of Cornwall, moved TO amend
so, that the bill will allow aoy man to hunt
on his own lands except the time named IN
this bill
Mr.. Atherson, of Glover, said he had
found from experience that this kind OF
game was abundantly able to take care OF
themselves. He bad reduced it to mathe-
matical certainty that trout cost S4,67 per
pound when caught, anu tnat partridges
cost S37. IS per dozen and he had resolved to
spend no more time IN catching trout or
shooting partridges.
Mr.. Smalley, of Burlington suggested
that this bill was designed to reduce the
price of game and fish to the gentleman
from Glover.
NJ Dana's amendment was then agreed to.
Mr.. MunsOn, of Manchester, favored The
passage of the bill, as being necessary to
protect this class of game which was becom-
inr the prev to lazy and shiitless men, to
such an extent as TO threaten their entire
extinction. lie could see no constitutional
objection to the bill and hoped it would
pass.
Mr.. Bemis, of Dummerstown, said New
| Hampshire had just passed an act similar to
this and unless We protect ourselves against
it VIC shall have the New Hampshire hun
tiers with their dogs coming across the river
and destroying that class Of game. He
hoped the bill would pass.
On the passage of this bill MIR McFad1en
Of Wells demanded the ayes and nays which
were taken, ayes 1876, nays p. 50 the
bill was passed.
SPECIAL order-H. 293 relating to the TAXA
ton Of Savings Banks, was taken up, the
question being on the amendments proposed
by committee on banks 80 a. 70 include also
Trust Companies. and fixing the rate Of tax
alton at 0ne-half of one per cent.
Mr. Davis, of st. Adams, thoaght We
better ascertain what Is 70 be the effect of
the action IN the Institutions named. He
said that a Savings Bank takes deposits and
loans them out on interest and after de-
Quoting the cost OF carrying on the business
divides up the income among the dcpOSitOTs.
4 Trust Company has capital and pays
fixed per centage to the depOsito.s, and the
depositors have the capital stock as an adj
diti0nal guarantee for the safety Of their
depositorS. This Is about the difference be-
tween the two kinds Of banks. lie had also
found Trust Compa MES. now have 10 pay
tax 70 the. L. ; government of 0ne-hall OF
one per cent, and the stockholders have to
pay "a tax on their capital stock and these
two taxes are all that they are able to pay
and maintain their existence. lie was there
fore opposed % the Amendment u include
Trust Companies lie was doubtful Of the
prlpriety Of taxing this kind Of Institutions
auy more than they now are; they should
DE encouraged rather than opposed lie
proposed 10 amend by striking Odt all after
the euactirg clause, and inserting the fol-
i1winE
See. / 1t shall be the duty Of the Teas
u.cr Of every Trust Company in this State.
on the first Monday Of April in each year,
% transmit to the town clerk flr she bene-
fit Of the listers Of each town IN this State
the name % every person n said town hay-
ing money o. an amount exceeding $3.50,
deposited IN Sti1 Trust Company. with the
statement % the amount such person had
deposited therein on the fir. day Of said
month ol April.
Toe Saclkc decided that the amendment
could ROB- be presented at this stage of the
prlcea Sings. the amendments proposed hg
TIE committee beng under constellation.
w. Davis hoped the amendments would
lc rejected and he would then propose the
above amendment.
Mr. Cook of Mendon said he could see in |
this b!ll another attempt % exempt proper !
~ from taxation lie thought the bill |
ought 20 be dismissed.
Mr.. Gilman Of Montpelier. favored the |
rejection Of the proposed amendment that |
the bill may be perfected as proposed by /
the gentleman from ;. Adams, and then |
be passed.
Nr. Bachelor Of Arlington, opposed the
hul as changing the method OF taxation Of 4
tbs class Of property by removing it from
the local taxation and requiring the tax 70
be paid directly into the Treasury Of the
State.
Slr. Bailey of Fairhaven. explained the
evidence as IL appeared before the commit
tee. that in many Instance deposits are ii
yiled up in sums Of $3.50 ant distributed
around among various banks, until in some
cases one individual would have a thou
sand dollars IN the various banks, and all
Tree from taxation. Ii was believed by the
committee that the tax here proposed would
yield a revenue to the state of al. least SEQ
coo more than l. now received.
Mr.. Lynds of Marlboro favored the
amendment 50 o. to include Trust C0mpan-
ic-. and instanced the Montpelier Trust
Company. 10 explain that in "a Trust Com
nany all the profits Of their Investments.
over and above a certain fixed per centage.
r bot. .
30 own stock in the Trust Company. say !
nEs Banks pay all the profits Of the bust
hes 20 depo,itOrs. This was the difference
between Savings Banks AMI Trust Compan-
c~. lie did not see why we should tax de-
'1~Itors in Savings Banks ani not tax the
ame IN Trust Companies. lie said We have
N deposit in the State Of Vermont in our
'ariol> Savings Institutions the sum OF .
-, AO2,37s. andit We would tax this sum a.
proposed IN this bill we shall derive rev
nue. t. the Treasury of the State VI about
'32 600, while under the present system of
axing them We shall not get SO. 900. Mr..
-ynde gave a series Of statistics 10 sub
ianilatc the points he made. and said that
'e~ Hampshire, Massachusetts and Con 4
ectitgt have tax Of three-fOurth5 Of one :,
err cent paid directly to the Treasury. He I
li.eyed tEis bill was just 10 the people
nj the best thing We can 10 under the cir =,
lmstancc-. lie was opposed 70 the amend
Tent proposed By the gentleman from St \
lnanS o
Mr.. Grout Of Barton, favored the bill at d,
myth, the main points Of his argument be- >
ig that 1t l. very difficult to reach every o.
MAR OF property and make It pay its share :,
taxes. ms bill Is move in that dlrec- =
On ana merits favorable consideration. u
the Savings Institution at Brattleboro. !.
one, there j. ) 800 600 deposited, 81 900. -
- OF that = from out the State. and paws II
I. tax whatevor. The bill viii reach tLst. u
'ae remaining half million at Brattls- Pl
'ro, only onc-half pays any taxes. for the Ju
aSon that one-half the deposits are in y"
ms Jess than $3.50, and under existing d
" Is not returned 10 the several towns 20
d many OF these small sums are made 80 '"
purpose to escape taxation II this bill
comes law, 1t will reach $3.50 900 in o ~.
&c savings institution at Brattleh1ro. and a
lCr large sums at other points in the 10
Mr.. Cook of Mendon, again opposed the un
ampuoa of property from taxation. but Pc
ought We should give consideration to V Wl
>e small depositors and hoped the bal ",
uid not pass. tat
Nr. Davis of St. Adams, said that if We
now drawing deposits from other States. wa
~ So legisiato a 10 continue those de- -
MS and not drive them out Of the state oii
p have the benefit of the money. which is ~
iai!Y invested IN our own midst. and we oo'
uit not discourage capital from coming J
e. 10 Is ais) urged that deposits T. the am
cunt OF $3.50 are now exempt from taxa vii
and We should tax all depositors alike. min
thought 1t bad policy to tax small de- tiol
Itors, and he did not believe the people me
MED any such measure to be passed Da
mere may be some cheating under the con
VI clause, but We cannot ltgislatc To pre- par
{ all cheating il men are so diSposed bon
thought this bill ought to be dismissed Ora
new one introduced to reach dep0si- lar.
Oh trest companies when the amount aga
over $50; but as that could not be trio
. now ne would reach the point BY 50 new
uu,"s inns Dlii as 70 reach that end. tric