Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1897-12-02

reign supreme. House after house
tumbling down, farm after farm grow
inc up 10 bushes, and before many
wears shall have passed away, where
was once thriving farming commune
ty will be Il wilderness.
Should he want more evidence let
/ him 90 to the Office OF records and
look up the number of mortgages
about TO be foreclosed, and the number
that would be foTeclosed did not the
mortgage prefer to leave the 1ncum-
bent in possession rather than to fore
close and have the elephant on his
/ hands. BY the time he is through with
/ the investigation he will be satisfied
that something ought to be done and
done Immediately
That there are abandoned farms in
some of the back towns is probably
true in measure, but no such condi-
ton exists generally throughout the
state. Many farm buildings have been
vacated and left to decay, but others
have taken their places orby the union
of adjoining farms, have not been re-
quired for dwelling places. At the
same time agriculture is not so pros
porous that it could not be made more
SO. Mr. Sampson well says -
"Now, as the question involved in
/ Coy. Pages proposition apparently re-
lates solely TO the welfare OF the farm
cr. why not take short cut out 81 the
difficulty by giving to the farmer the
direct benefit of cheap money and
1 thereby place him upon an equal foot
ing with those engaged in other indus
tries.
Looking TO tins end the first step TO
1 he taken should be 10 wipe from the
statute that most discriminating, I'M
| Just and unreasonable law called the
double taxation law and the next
step to wipe ont the fifteen hundred
/ dollars exemption law which was
passed with the ayowed purpose Of
increasing the deposits in savings
banks and savings Institutions, and 1t
has increased them with vengeance
until, us Gov. Page says, '0ur Yer
mont savings banks are today full to
Overlooking with the savings OF our
people. To tiHd a place for their in-
vcstmcnt Is taxing the best effort Of
savings bank managers from one end
Of the state 10 the other. and then let
the legislature pass I'M net cNcmpting
from taxation al money loaned upon
farm mortgages, building mp the farm
inc industry in the same manner in
which savings banks have been built
up
The correspondent is mistaken in hi,
belief, expressed elsewhere in his arti-
Gle, that money deposited in saving,
banks up to the $500 limit does NOT
pay taxes Tic ~cyen-tenths per cent
,tateiaX, from which Vermont realized
S2ll,o7G.gS last year, i, levied almost
wholly on such deposits True, the
common town tax rate is in excess OF
the >eyen-tcnthsper cent rate and more
would be realized if the same money
were subject to local taxes instead. but
experience has shown the utility Of
taxing money in any direct way. tn
doubleday. more is realized from the
present method Of taxing money than
would be il il were taxed in the old
way-people are such liars when il
comes to making ont their tax invcn-
tories
OF course We agree fully with Mr.
Sampson in regard to the repeal of
double taxation and the exemption oil
money loaned on real estate security
not only farms but all real estate Just
how to bring this about with the least
disturbance and the greatest measure
of benefit Is, we believe, a matter wor-
thy OF consideration by special COM
mission, whose appointment we hope
TO see authorized by the next legisla-
turc.
Hancock.
Eva Holly has returned to Hancock and