Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1874-12-02
A Statement of Facts.
ST.. JOHNsHURY. Nov. %, lS1

In the account OF the Governor veto
of the bill to incorporate +. Il /. Fairbanks
4 Co., Published in the Ctted0nia2 of the
9th inst, it is stated: " He considers the
provision cXemptin@ the stock from TAXA
ton still more Objectionable. He say
{" if the general law of taxation is just
and proper he can see 20 reason why
special exemption shonld be granted to this
company" Such exemption he considers
unjust to other manufacturing corpora
tons and other taxpayers. unwiSe, and
establishing precedent of special legis
lation of dangerous and miscellaneous ten
dency.' The same statement has been
published by most of the newspapers OF
the State. From this statement the i'm
preston generally obtains that the firm OF
| which am member, was attempting by
| the bill to secure some special exemption
from taxation, and some unjust advantage
over other like corporations and over tax
payers generally. This is entirely ncor-
rect. and IN incomplete statement of the
| Governors objection to the bill, rs Il care
ful reading of his veto message will show
| The facts in the case are US follows:
In the establishment and prosecution of
our business it has become necessary for
us to establish, in the principal cities of
| countries, stores or houses for the sale of
our scales. In these houses we keep con
stantlv on hand Il large stock of our man
nfacturcS, and on them we pav taxes Year
| " to the amount of several thousand
dollars. We do not complain of this
| The states and countries in which we con
stantly keep these stores and stock of man
ufacturcS have the same RIGHT to tax lis for
| I hot 4
non-rcsdcn; for Il store which he should
keep filled with goods for sale in this State.
The protection which such states and
countries give to our manufactures, and
;hc privilege they grant to Us of selling
them, contcrS the right to tax u. The
fact that this State does not have these
manufactures to protect, neither does 1t
have the right to protect Us in the vending"
of them, should in equity take from tins
State the right to tax Us on such m1nutIc-
tacturrS, after they are perm 'ncntly re-
moved. SO long Il we purs!!c our business
as partners, our laws do not ask lis to pay
taNes on such manufactures permanently
removed from the State. and which are
taxed in other states and countries.
70 pcrpctuatr our business permanently
in this State, ar.l that it mi4hl not be
'I"N,h up ny 'I'' '.''.''0' "a Il l'i 'i ~, /
we "'>ir' III! a1l "l moor I"f'"'"h. ne
general law IN relation I" the taxation OF
manufacturing corporations W" found to
be. that tn" machinery and real estate
owned by such corporation l. taxed To tllr
corr Grafton. and the >tockhold"r- ar" then
taxed tor the value OF such capital stock
above the VAIN OF the real estate ana
machinery. See. II Chap. - ''rn. stat
utc>. This Is Just and equitable where all
the corporate property Is within tins State
for protection, which Is the condition Of
most manufacturing corporations IN this
state. ~ tn" capital stock IN "ur com
panE would represent all tn" property
which we hold permanently for sale IN
other states and countries II would subject
Us TO double taxation on all the property
on which We are Justly ttN"d in other