Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1892-11-25

incorporate the Ludlow savings bank. The
Objectionable provision gave the bank au-
thority to tissue letters Of credit upon such
terms as may be agreed upon by the di
rectors." 1t was known that Gov Fuller
objected to provisions of this kind as intro
ducing an element of possible future danger
for the savings banks. Several bills with
such provisions had been sent the governor
and had then been recalled for revision,
knowing his objection, which he had plain
~ stated in private. There seemed to be no
reason why an exception should be made
in the Ludlow case, and when the time
came that the bill must be returned to the
body i'm which it originated, or become a
law without his signature, GOV. Fuller in
terposed his veto His reasons were, in
brief, that the business of savings bank
and of general banking business should
be kept as much separated as possible.
When the two are brought together more
or less commercial hazard results The
letters of credit clause contained germ of
future harm and therefore the governor
could not give his approval. The bill re-
lated to Speaker Stickney's own town and
the element of personal support of the
speaker entered largely into the action of
the house. When the veto was received
and came up for action Mr.. Stckney called
Mr.. Martin to the chair and took the floor
in advocacy of the passage of the bill over
the veto. His remarks were supplemented
by Messrs. Rowland, Read of Rockingham,
Dewey of Barton, Weld of Berkshire, Bar
Der of Arlington, Boynton, Dewey of Ben
nington, and Reed of Vernon. As requir-
ed by the constitution the yeas and nays
were then called upon the passage of the
bill, and the vote resulted yeas 204 nays
O. The senate considered the bill Satur-
day afternoon, but tabled it until Monday.
when Senator Haskins made a speech
strongly supporting the governors obiec-
tions and arguing at length to show that
the letters of credit system was an element
of danger and fully open to the objections
| which Gov. Fuller raised against it. The
bill was again tabled, but the senate finally
refused to sustain the veto, % to 6, two
senators being absent. The senators vot-
ing nay were Ball, Dubois, Haskins, Hyde,
Sanford and Vail.
While thus refusing to sustain the gov
ernor's veto, the legislature afterward took
| action which was virtual concession that
the position of the executive was right. A
bill chartering a savings bank at Hardwick
was recalled and clause permitting the
issue of letters of credit stricken out, it be-
ing known that Gov. Fuller would other
wise pursue a consistent course and veto
this bill as he had the Ludlow bill A bill
was then introduced in the senate enact
ing general law forbidding savings banks
to issue letters of credit for general use. The
senate promptly passed the bill and sent it
to the house. The house committee on
banks pocketed the bill, but the matter was
| called up in the house Tuesday night and
the committee peremptorily directed to re-
port the bill. 1t then turned out that
when last seen the bill was in the posses
sion of Mr.. Clement of Rutland, the chair
man of the committee, who was then on
| his way to Boston-with the bill in his in
side pocket, doubtless. 1t was then too
late to prepare another bill and enact it,
and so the matter failed, but the practical
result, as has been said, was to sustain
Gov Fuller's position.
The new highway law, the main provis-
ions of which were reported last week,
passed the senate and became law. 1t is
one of the most important measures of the
session. The entire charge of the high
ways in each town is placed in the hands
of road commissioner, to be elected by
ballot Selectmen are ineligible to cleo
tion for this Office. Each town must raise
20 per cent highway tax; - per cent of
this must be expended before the 18th of
August in each year, and the balance as
required. Bridges of more than four feet
span are in charge of the selectmen, and
must be built and cared for out of a sep
arate tax or fund from the highway money.
A five per cent state tax must be levied,
and paid into the state treasury. The
selectmen must measure all the highways
in each year, and lodge a sworn certificate
of their length in the Office of the secretary
of state, and the state highway money is
then to be divided to the towns on the basis
of the proportion which the number of miles
of highway in each town bears to the total
mileage of the state.
The secret ballot law was remodeled or
the lines indicated in the extended sum
mary of this measure given last week. TIL,
most important change is that providing
for the arrangement of the candidates o.
each party in columns by themselves
Over the top of each, and under the party
designation, is to be placed a square en-
closing blank space of not less than one
) half inch, and the voter who wants to vot,
a straight party ticket does so by making
a cross in this square. But he may vot,
for individual names on any of the tickets
| by making a cross against the names o
7 each.
Other measures of leading public import
ance may be thus summarized: The Law
for the formation of corporations by volun
tary association was entirely recast. Pro
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