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

this bill, the man who has IS 900 deposited
in a savings bank pays S25 taxes, and that
covers all the tax we eau levy upon thai
money. But put that money into the liss
as now provided BY law, and the variout
taxes would amount to $3.50 for this year.
1t would be for the benefit of those who
have money to lend. lie could see evils in
the bill and if it passed i, must do 50 with
out his vote as he is opposed to it. lie
moved the bill be dismissed.
Mr. BlodgeIt. of St JOhnsbury, said he
would favor the bill if made to apply to
depOstOr without the state. lie had had
experience in Savings Banks, and thought
we should not change the law in regard o.
our home depOsitors, who were IN the main
a class of poorer depOsitOrs that should be
encouraged and not discouraged, to save
their earnings for deposit.
Mr.. Lynde. of Marlboro. said We have
decision of the supreme court that will pre-
vent our doing what the gentleman from
st Johnsbury prop0Ses-tax nonresident
depOsitOrs when We do not tax resident De.
postors In reply TO Mr.. Ladd, he would
say that the deposits are not taxed now and
they would be under this bill.
Mr. Wells of CRANKY, sud that this -
bate has developed the fact that the de
posts in Savings Banks escape taxation
going to remedy the evil II We will amen
the bill - as to make its provisions rta.l
a class OF deposits not now reached by law,
he would favor it. A. it now stands, be
must vote to dismiss the bill.
Mr. Grout of Barton, said II appeared {.
him that those who oppose this bill are
penny wise and pound foolish. Ii they WA.
examine the facts, We shall fiad they have
an eye on class Of the deposits tha- : nIU
reached for local taxation, and while Tvs
ing to save the small amount thlt gets .att
local taxes, We loose sight OF the lirt-
amount that now escapes ail taxes. ia-
large towns naturally oppose this BILL a-
it takes something OUT OF the lists oi tines.
towns; but these towns can aft ri O. i.--
90 the small amount they wou.d De- lane.
fitted under the present law, for the sake ot
the larger public good AMI the large
amount OF taxes thar VIII be paid into Che
State Treasury.
Mr.. Bloigett Of s.. JohasAlsy, SAID .-
appears that the proposition he ~ubmi,tc
Is not practicable, 50 he would favor j.-
next best thing. Tie thought this h
would reach a larger amount Of dep'-.t-
than j. now reached for taxation. a.i b..
should favor IT, passage. He a.r,! .-.
House would refuse TO dismi--.
Mr. Tyler Of lrI-hursh, dclluGcl
previous question, which was ~rr.....
the House, and the question benz. -..
the bill be dismi--ed9
Mr. Lynde Of Marlboro. demanded
yeas ard nays, which were rtkan-ay %
nays 10. - the b... was na. di-ni--
The question then recGrrei % the ai
ion Of the amendments proposed ty f
committee, which were agreed tl--iae.
ing Trust Companies with savings Efr.-.
fixing the tax at 0nG-hali oi one per tegru.-
annum, oae-half of the average am1ant
deposits for SIX months preceding o.. frs
day Of April, aud the other bali ol Oh.
average amount for the six m11tl7 H-a..t
ing the first day Of October.
MIR. Hubbard oi Springfield. saved g..
amend by substituting ailcr o.. DI..-.r-
clause, a new bill, a. follows
Sec. |. Every Savings B4uk alI Ir.-.
Company incorporated under tll Ilw,. -..-
state, shall on the first day Of April i1 l..t
year make retarn 70 the CLERKS vi t1e ~1vor..
cities and towns IN this STATE where 3.
dep0sitOrs in said Savings Ells s- lrt--
Company reside. Of the whole amount
posted By and due 70 ever7 ie1l-.-Ir n
such city or town. aLI tAs Lister, et ~.c.
city or town shall a-s--- tlc same O. -l.4
dep0sitors 30 returned o. tl-m And a
case the residence Of any such l.n.-:.-
shall not be known to such Treasurer. .- %
sach depOsitOT Is not q resilient 10 tia STATE
of Vermont, said treasurer shall rlr i.-.
the Treasury of this SAFE TX .I a.-.-.-
of SAID nonresident d.pl~i-1r- cr tiles.
whose residence l. unknown, 10 ;lr.a Ha.r-
tiers OF one per ccntIm 0u che lu.ua-.
deposits.
Sec. :. The treasurer ot every >.1a--
Banks and Trust Company shall ar-ll g.
na+ ST. a 4
tary of State, statement unier aatr n. t.-
" hole amour; Of deposits in -lcl Eirz ..
By depo-i,or- VII a-ere-l ie-.e
i unknown Or who reside our r. t.c >-.-.
Of Vermont.
Provided, that Il the listers OF ans ....
town to whom the treasurer OF any ~tt-r-
BANK OF Trust Company has made r-.-.-
4 provided n section one, -ha.. Dee -a-H..
md the persons - reported. g t.E t..u
they shall Immediately report the same
'ail treasurer, and he shall Immediate
make supplemental report Of such 's.- g.
he Secretary Of State. and snail plya GAY
II three-quarters Of one per ccuc ar g..
anne into the State Treasury.
Mr.. Lynde said this ameutmcn; virtually
titled the bill and he hoped they would not
d0pt it.
Mr.. Hubbard Of Springfield. said that h.-
mendment substantially was u tax the DE-
Oslts Of depOsitJ-- IN tile towns w1cr.
hey were known and such Of the dey..
itOrs a could not. be found 0r reaclCi. the
az should be paid directly 20 the ,rel~.r.
y the treasurers of the scverl. >lvil--
tanks and Trust Companies
The amendment was then rejected. after
eng briefly opposed by Mr. Bailey To-. Fair
aven.
Mr.. Davis Of Reading, moved O., 900. 1l
ddIng 10 section two the w1rl-. D., ans
-ea>ure- o. such saving Bank or il.-.
ompany or institution Of saving shall
eglect or refuse to make returns O. -..
easnrer OF this State as provided 30 ...-
,t, he shall forfeit AMI pay o. r-
reasurer of this State, for the beula- t,.
tate the SUN OF 5000. % be recover ..
n action on the case in the name a. -1--
easurer, founded on this statute
hlch amendment was agreed tl
Mr.. BlOdgett OF 3. J0hu~lIly. moved o..
mend 20 that the statements of the bank
ali be transmitted on the first diy-
prh and October, which was agreed g..
Inc bill was then read the iA.r! tIG.a-.
lSsei.
The title was then amended So a- -.r.lt
An act relating to the taxation W ,.ti.-a
4nks and Trust Companies.
The Senate proposals of amenimca. -.A
., to legalizc the issuing Of bonds
hool district No. in the town et N.s-
Try, were agreed 70.
Inc Senate proposals OF amcnilel O. d
, IN amendment OF an act In dm-lIu l-
the charter ot the clty Of Buri.nz- n.vtr.
and t-c ameudutG, .a-..-
G words 'And that the-c shall Ieu. u.
jury in said court tzccp. IN oiri. action.
ew out considerable discussion
lnsOn Of Manchester, Mr. smaller E-.
gton, N Davenport Whining. ~
out OF l. rton, a. 10 the propri1-g .-.
wing any man Of the right o. tl-
y, and on the question OF clrrlrr
tn the Senate in the aj1pl.a -.
endment, Mr.. Davenport OF VIM
}, demanded the yeas anu nays. v...
re taken-ayes -, nays -.
% the amendment wa disagreed iu. SIR
er senate proposals % amtui1el- 81 -.
'eed %.
rom special committee, in favor OF d.
TO place the inmates ei Insane Asylum
Ter the protection OF the laws with pr
ais OF amendment, pending the question
the adoption Of which. Nj. B1ynran. o
.odstOck. moved that u be lilI ou 1.-
lie and Be made the special order Or =
oek OnN ednesdly afternoon ac-.. 1l.-I
disagreed TO-
ir: Perrin, Ci Berlin, novel tI.. Go
be ordered TO lie aud hs r.i-- OBJ.
nal order for Tomorrow ria-a..-st IaI
ck, which was agreed ~.
r. Henry Of Chester called up o. Blair
ndment OF an act 70 Incorporate 81.
ige OF bennington. ana reiatiu. o. Ben.
,ton Graded School District. the our-
being on the adoption OF the auer
Is proposed by the committee Mr.
export of Wilmington Intercepted Oh.
mlt,ee, and drew IF IN them tina. %.
OF District No II Is included ~ o..
ldaIles to be added 70 the Bennin-tar
fed School District; he also sand that
e part OF District No. d, have protested
INST being annexed 10 the Graded Dis
; that District No. / have lust baita
school house that as the 0radci Dis
have created large debt 10 bgiH %