The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1910-10-06
GOVERNOR MEAD'S
MESSAGE
Continued from first page)

t0OniluueO lfbul IlSl pdBej
to such classes that varying rates
may be imposed thereon.
For nearly thirty years our state
has reserved fCY its own revenue GER
tain classes Of property and taxpay-
ers and exempted them from town
and county taxation, e. g., deposits
in savings banks and trust compan-
les: and the property Of railroad,
transportation, express. car, tele-
phone and telegraph companies. No
two of these corporations are taxed
upon the same basis, and yet each
contributes approximately its fair
proportion to the support of the state
government.
The increase during tie past ten
years of substantially ore hundred
per cent in the amount oH bank de-
posts subject to the state tax OF
seven-tenths of one per cent, or sew
en- dollars per thousand, demon
strates the ACCESSIBILITY of allowing
a lower rate on intangible personal
property than is imposed upon real
estate
A like tax on notes, bonds and
| other securities held by individuals
would doubtless materially increase
the amount reported for taxation and
| largely increase the revenue derived
| from this source. In thus reducing
| the tax rate on notes secured by
mortgage. from the local rate to sew
en.tenths of one per cent, or seven
dollars per thousand, 1t would to that
extent more than one-half relieve the
evil effects of double taxation; and
should also affect materially the rate
of interest at which loans from indiv-
| iduals might be obtained.
| 7 do therefore recommend that the
same rate OF taxation be imposed up
on intangible personal property like
loans. bonds. credits and mortgages
on property within our state as that
levied upon deposits in our savings
banks.
I would also recommend that our
| statutes be so amended as ito pro-
vide for state central authority In
some form that shall have a proper
| degree OF authority and oversight OF
the administration Of the laws In our
cities and towns" relating to taxation
Your commissioner Of taxes might be
invested with this authority or a
special commission be appointed for
this purpose.
Legislation Pertaining to Wage
Farmers
Both Of the dominant parties of
1 - ,,,.nftafcnd nartlin
forms of what is known as labor leg
islation. and this legislature will not
I trust, fail to make good these prom
ises. ! do not favor what Is known
as class legislation. but II the As
sembly has enacted laws favoring the
farmers. and the members OF all the
professions. there is no good reason
for refusing the same or similar ben
eits to wage earners who are fal
less able TO endure the misfortunes
Of life. If Il is your wish TO avoit
the worst forms OF socialism and an
archism let us treat all classes alike
for these and many other reasons
trust the ten dollar" exemption bill
will receive your favorable considera
ton. Both parties are committed L
the same promises as to the Employ
, er's Liability bill. Y earnestly rec
ommend that this obligation be ken
and that the legislation promised b
enacted
There IS another labor question, 81
called. which I trust will receive al
/. tention by this assembly, viz. Law
, providing for some equitable form o
arbitration in labor difficulties ant
my suggestion would be. some enact
ment similar to the Canadian law
believe that some effective legisla
/. ton along this line would inure great
" to the mining and manufacturing
industries of our state and TO the Ia
borers as well.
, Education
5 There is no subject OF more vita
e Importance to the welfare and bet
J. terment Of our state than that OF tn
2 education Of our children. A state I
j. not esteemed most for its wealth no
It's rapid increase in population, no
+ for its physical attractions or nature
d resources. but It Is priced and rel
= pected above all for the Intelligent
d and character OF its people. Tha
II they might better promote these an
y render each succeeding generatio
e better equipped for its life work tina
It's predecessor. our fathers provide
for a system Of free public education
For many years every legislatuI
has endeavored to do something
strengthen our educational system
= and It remains for the Assembly (
1910 10 contribute TO the work an
& offer to the children OF our state ii