St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1908-12-16

deposits will naturally remain FRI
banks even under the H.n >ySi,m
other class make .tOer deposits .,
investment. They aretH .ar,s d.,
ors who put their m.rey 10 the
b, cause it gives them better he, I'M
than real estate m...agts which E
sui ject to taxation .. The Lcs
Remove the heavy tax from real "A
mortgages and these large deposit,
be withdrawn from the bank, E
loaned out to the farmer and IN
upon good real estate security Su9dE
that Jones deposits $4,000 ina SAIL
bank. The bruk p41. hir S20 4
year. The bank takes th. money
counts 1t and loans - tu Smith "A
good real estate security. Smith a
the bank $500 per year 4, it any n
der that the savings bank, d1not "A
the tax on farm mortgages reduced
that it will be profitable ur I5res
loan his $4,000 direct ,u Smith at ) Il
cent. Under the present systemthe I'd /
have an advantage equal To the ii
ence between the small state tax Il
pay and the rate of taxes In the evz
towns and villages
The man who is eyadmg taxes
swearing off, hi, personal ropA
takes advantage OF tas present Law
methods which have become so fau
that it is unnecessary IT, enunua.et5
here. We have already shown that
not the farmer who get, the adyant
but it is the man who has large Il
interest bearing debts VI short Il
debts that can be paid immediately j
the first OF April. The buses Of
system by the merchant and nd
facturer are too haerantt1 need .m5
comment
Perhaps the most interesting iii
the session will come 20 he pa,sag
the so called public utilities bills u
are now before the House Jue6. IA
bills is the so-called administration
introduced by Mr. Williams OF A5gpl
A public hearing WIS radUa thes5 /
last week and the independent teIyphl
companies were represented by qul
delegation who appeared 10 uNpSd
to the bill. THIS bd. place, all te.spiI
and telegraph comWu..s under
/ direct supervision aua uauo. Of
railroad commission under tdt 1dTs
the Public Utilities Commission
independent telephone companies Il
that this is a bill framed 30 The intdi
Of the New England Telephone lonpa
and they are fighting The n.I tooth
nail. The fight on these measures
brought out more bitter PERSONAL
than any other measure likely u
presented and both sides are surd
lose something by reason of such
sonalities. The independent compaI
attack the Governor because be hapa
to be a director in affiliated c1nlpaI
connected with the New England \
pany. Mr.. Williams of Newport resS1
the attack upon the Governor an1
turn attacked the independent 4
panies. Now it happens that theTfI
many who believe tina, The 5oyeTl1
perfectly honest in this matter ana
unwarranted attack upon nm
make many additional friends for 4
On the other hand the atutudt e1PFi
by Mr.. Williams will serve to arop%||
independent companip, and iheu RI
and the battle will WAY warm oeiq'I|
bill is finally dispose F. either by u
it or by passing it. Ia tae HOUSE j
tally there are many friends Of 'nI
pendent telephone and the serious
and the drawing Of Hines between
rival telephone Interests will s''ol
jeopardize the welfare OF the y
utilities bill.
None of the taxation bills aaV
been reported, but it i, undtfs'o0l
committee are about ready 70 T'p0.1
the bills providing for a fiat i''s
intangibles, on the aro.s.'nS o, u
and the creation OF Il .aN coHu",1I
Without doubt at he's, one u
measures will pass aaj become =
and it is probably true that 'ns
lature will not care 20 take the G, I%l
sibility of passing all %. Them ia it,'
pass the bill creating -ac 'al s sts
sion and the one abo.,Wng oD''T
leave the intangible question un' a-.
it is determined just bow ma'o uO''
tax laws need revising
COLBY SToDDAR
MontDelier VI. Dee. ~, l9uo'