Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1913-02-19
ADJOURNMENT This WEEK
New Taxation Bill Becomes Law after
Aboiishsng Offsets. Mock
Session Held.


1t is expected the protracted legis-
lature of 1928 will adjourn this
week although there is nothing abso'
lutely sure about it. Considerable i'm
portant work remains to be done and
while new taxation bill has passed
the house there is nothing certain
what the senate will do with it and
taxation matters may hold the body
over another week. Nearly two days
were taken up in the house over the
discussion of this bill, during which
time Mr.. Cook of Lyndon and
Mr.. Jose of Johnson, the two
leading progressives of the house, dis
agreed and had a sharp clash over it.
Mr., Jose claimed the bill would favor
the banks instead of the people while
Mr.. Cook strongly favored the meas
ure. Probably no more spirited de-
bate on taxation measures has been
heard in Vermont for 20 years. many
members being heard on different
phases of the measure or on proposed
amendments. Some of the Orleans
county members were heard. !
TAX LAW SIGNED.
This morning the Monitor gets word
from Montpelier fthat. the tax law
spoken of above as having passed. the
! house was discussed in the senate and
amended so as to make %the rate at
which money loaned in the state is ex-
empt from taxation per cent instead
of Al and then passed the measure
| 1t then went back to the house and the
house has concurred in the amendment
and the bill has been signed ,sby the
governor and now becomes a law.
! Senator Blanchard of Newport presided
over the house during a part of the
debate.
The editor has communication
from Mr.. Locke, Barton's representa-
tive written of course before the
amendment makes the rate 7per cent?
in which he says: "Banks cannot pay
seven. tenths of one per cent to the
state, per cent to depositors and loan
at 4 1-2 per cent The majority of
Individual lenders would prefer per
cent from the banks rather than 1-2
per cent from the ordinary borrower.
At per cent he could doubtless secure
his money Mr.. Locke says he op-
posed the measure on these grounds
when containing the d per cent rate
but the per cent rate will undoubt-
i edly be satisfactory to him as indi-
Gated in his letter. He says that
eight Orleans county men voted for
the original bill, five against it and
four were absent.
The bill as passed and signed
exempts money loaned at per cent
interest or less and abolishes all off
sets. Loans at the prescribed rate
must be evidenced by a promissory
Many think the new law will cause
tho hanks N 6eern9Sp thoir ratio on
savings deposits from to 3a Or less.
LEGISLATIVE NOTES.
Other late news from Montpelier says
the house insists that the matter of
appropriatlng 100000 for another
state building at Montpelier be sub
mitted to the people. The - senate
amended j the bill cutting Aout this
feature. - -~-~---- $50 qss.a
A bill from the ways and means
committee has been introduced in the
house calling for a state tax of 10
cents on the dollar on the list of
1913, one half to be paid to the state
this year and the remainder next.
The Brattleboro Retreat bill which
was vetoed by Gov. Fletcher as men,
toned in these columns last week was
sustained by the house, although the
senate passed the measure Cover the
governors veto. After killing the
state detention farm bill the house
recOnsidered it's action and passed the
bi.i after cutting down the appropria-
tions accompanying it by many thou
+ sands of dollars. The bill giving the
governor power to appoint a state
j purchasing agent to be approved bv
the senate has passed both houses. The
bill creating board of education made
up upon different plan from that
now followed has passed the senate
The senate has passed the bill appro
priating 100000 for a new state
building at Montpelier after amending
1T sa as to cut out the referendum
vote.
{ A mock session of the Legislature
I was held in representatives hall one
i. evening last week. Mr. Hewitt O.
!; Plainfeld presided as speaker ant
kept the house in an uproar through
: out the session. Many sharp thrusts a
. members with peculiar characteristic
S were indulged in A portrait of Mr.
|, Hapgood of Peru was unveiled.
e The so called ''blue shy" law de
e signed to exclude from the state ques
0 tionable investment companies ane
turning the light on those already her
has become a law by the signature O
the governor.