Vermont farmer. [volume] (Newport, Orleans County, Vt.) 1870-1877, 1874-11-27

E. & T. Fairbanks 4 Co. were the lead.
ing spirits in getting the up. Il D. II. r
Vt. DIV under way. They urged the i'm
portance Of the enterprise, and through their
influence the town of st. Johnsbury was
bonded to build the road That was a good
work. 1t evinced public spirit for firm
paying as large share OF the taxes as they
do to be foremost to urge the mourning Of a
heavy tax to aid public enterprise Of this
kind. But then, having got the debt sad
died on the town, and the road where it was
safe, and holding large share Of the stock,
their confidential, clerk is through their in-
fuence elected town representative. Then
he goes to work to relieve them of their share
of their burden. Two bills are introduced
by him, one to incorporate L. 4 I. Fair
banks & Co. and the other to fix the method
of taxing incorporated manufacturing COM
panies. The latter, if we recolect Alright,
was dismissed, but the first, which was also
SO drawn as to give the company certain
privileges in the matter Of taxation over
other similar corporations, and, in the opin-
ion of Hon. Asahel Peck, who is no mean
authority on points of law, intended to un-
justly exempt them from portion of their
Just share of taxation, passed both houses. 1t
almost bee anne a law, and the company were
almost prepared to turn around to the town
of st. Johnsbury and say "Fine debt you
are saddled with you can pay it without
our help; we have money, and we run things
generally" But alas, this harmless little
instrument drawn and pushed by MIR. Blod-
gett meets an untimely end. The farmer
governor interposes his little veto, and the
game is up.
We are surprised as we'll as grievol to
see this company, 80 noted for honor and
publ spirit, attempting to spring such a
trap upon the people of the town, but we do
not think even their official organ at the up
per end of the Avenue will have the cheek
to say, as il did in substance OF Poland, in
the last election, she didn't know he was
running" until he woke up and found him
self whipped. The confidential clerk OF course
had his instructions from his employers.
We print the following, which appears in
the Montpelier Journal of Wednesday,
which shows that the Journals correspond
ent and Gov. Peck do not look at tho mat
ter alike.
Messrs. Editors: In the report of the veto
of the act to incorporate +. 81 L. Fairbanks
IL Co., OF st. Johnsbury, il was stated that
the act provided II special exemption from
taxation in favor of the corporation. This
was u mis-statemont.
The bill provided that the property OF the
corporation should be taxed to the
corporation. The general law provides that
such corporations shall he taxed for the real
estate and machinery owned by the m, and
the stockholders for tho value of tho stoc
above the value of real estate and machin-
cry. The governor objected to this provis-
ion in the act of incorporation because it
provided for q manner of taxing its property
different from the provisions of the general
statutes. 1t is but fair to state that the
Messrs. Fairbanks caused, at AN early day, u
bill to be introduced into the III ouse which,
II enacted, would have the general law cor
respond with the provisions of tho act They
did not, and do not, desire any exemption
from taxation, but do desire to have the law
so framed that 1t would not subject tn EN- Ia
the penalty ofpaying double taxation on a
large amount of their property located in
and legally taxed by other states and coun-
tries, which they must have submitted TO II
they accepted an act of incorporation in this
state under the existing laws, j.
Senator Walton introduced another bill on
Friday to incorporate the company, but i
was squelehed in the House, we understand
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