The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1896-10-14

our expenses may not be excessive, think
IL IL due to our taxpayers that the closest
scrutiny be given to all proposals Of expen-
diture, that our people may be relieved OF
any unnecessary burdens. In the desire
for retrenchment, care should be taken that
no injustice be done any faithful public ser.
want. / think it is only fair that our per-
centage of expenses should be based upon
what | have called ordinary expense, as
those which have been termed D rmanent
investments will not be needed in the next
decade. The increased income from the
state prison and the lessened expense for
the care Of the insane will be favoraby felt
in the immediate future.
Corporation Taxes.
BY eferring to the treasurer's report you
will find that the amount received from cor
poraliOns in taxes exceeds the amount for
the preceding term by $40 6iS rs, which ex-
cess was contributed by Savings Banks and
and Trust Companies. The total amount
paid by corporations during the last ben-
NAL term is 1872, 1884, which amount is
81 per cent of the total expenses, or 70
per cent of the ordinary expenses of the
state. or this amount Savings Banks and
Trust Companies paid $3.50 434 90 or 541
per cent. The railroads paid sos 1862 46, or
% per cent Life and Fire Insurance
Companies aud other corporations paid
Sl27, 1872 63, or IA per cent. The ratio of
the tax upon corporations to the tax of
twelve cents raised upon the grand list is as
77.8 per cent to 222 per cent. The railroads
paid $50, $685. less than in the preceding
term, the Savings Bank and Trust Com
paD!es SAL ,8S1 80 more, showing the differ
ence in the prosperity of the two classes of
corporations 1t may confidently be ex-
pected that the amount received for the
next biennial term will considerably ex-
coed the amount received during the last
term. The Office of commissioner of taxes
is now one OF the most important of the
state offices. The present commissioner
has performed his duties with ability and
promptness,
Savings Banks and Trust Companies.
l invite your attention to the excellent
report of the Inspector Of finance. 1t shows
a mar gelous increase in the assets of our
savings institutions during these depressed
times. They are a credit to the state and
the men who manage them. During the
most trying times through which we have
passed and are now passing they nave re-
manned solvent and most of them have
bettered their condition. The money in
trusted to these institutions has always been
returned to the depostors with interest The
seven tenths of one per cent upon deposits
that the savings institutions pay into the
state treasury is an important item IN help
ing defray state expenses, and fully be-
lieve II the money that is now in these
banks was in the hands of the depositors
that not one-fourth Of it would pay either
state or town taxes. The law now relieves
from town taxation maximum OF fifteen
hundred dollars belonging to one person
panies April 1st of each year. l believe it
would be for the best interest of the state,
in keeping money at home and in largely
increasing the taxes paid by the banks to the
state, it, in addition to the fifteen hundred
dollars-upon which the banks now pay
t.]n Ill L
in the banks not less than six months
previous to April 1st OF each year be sub
ject to the same rule. By this limitation Of
time no money could protitably be placed
in the banks to avoid taxation. 1 do not
think that town taxes would be appreciably
lessened, and taxes paid to the state by the
banks would be largely increased.
Railroads.
The work done by the railroad commits
sion has been thorough and effective. The
expenses have been moderate. The repo TT
is concise and comprehensive, and the cost
of printing has been very much less than
formerly. Contrary to the opinion Of many
people, the power conferred upon the com
mission by statute is very large, and 1 be-
lieve the present board has used its power
without fear or favor. No commission is
more valuable to the state, in my opinion
than this. Very little of its work appears
upon the surface. Many evils are corrected
quietly that are never made public. The
running of Sunday excursion trains upon
some OF the railroads in the state prevailed
to some extent last summer. Believing
such a practice is contrary to the moral
sense OF our people, | suggest that the rail-
road commissioners be instructed by YOU
not to allow such trains to be run. The
commissioners have performed their duties
faithfully. While the railroads do not oh
ject to the commission, they did not pre-
pose its creation, and would not, | believe,
oppose its abolition. The commission was
created at the request of the people and for
their benefit and is, believe, doing good
and necessary work. The railroads of the
country have severely felt the business de-
preston that has existed for the past few
years and our Vermont railroads have not
escaped, After a brave but unavailing
struggle against unfa yorable conditions, the
Central Vermont railroad, which for so
long has been an important factor in the
prosperity of our state, has passed into the
hands of receivers. 1t is to be hoped that
conditions will soon be favorable for its res
toraton to its owners.
Vermont National Guard.
The expense of maintaining the National
Guard is quite considerable but it is nee
essary in order to maintain our position as
state and to furnish our shsre of the
means for a common defense in case of
need. There is not a member of the Ma