The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1913-02-14
HOUSE OtvOItS
DAY TO DEBATE
ON TAXATION
CONTINUED from First Page

| the rate of interest on deposits might
be reduced as a result of the increase
of the state tax.
Mr.. Flynn of Dorset thought the
rate of interest would be reduced by
the measure.
Mr.. Proctor of Proctor thought
many trust companies could bear the
rate of increase but he thought 1t
would be a burden upon some ma
| tional savings banks. Taking a
bank as an Illustration three-fourths
of the depositors were children, WI
dows and laboring men, and that
there was danger that their income
might be decreased by the measure.
Mr.. Taft of Townshend moved TO
amend b, making the tax on national
savings banks seven-tenths Of l per
cent instead of eight-tenths Of per
cent.
Mr.. Cook of Lyndon said the ways
and means committee hal feared
mat one rate upon one class of banks
and another rate upon another class
might be unconstitutional. II was
thought that the passage Of this bill
would raise some $4,000 or $780,
600 of revenue and without it state
tax PROBABLY would be necessary. lie
cid not believe that ii would result
in reduction of dividends to deposl-
tors.
Mr.. Ryder of Rockingham thought
if determinations were made some
trust companies would become ma
tional banks and thus reduce the
states revenue.
Mr.. Ware of Wilmington thought
the poorer class of people would pay
the increased revenue the bill was
expected to raise.
Mr.. Ferrin of Essex opposed the
bill.
Mr.. Watson of st. Adams city
thought the proposed amendment
would make the bill unconstitutional.
Mr.. Crosby of Brattleboro said
there was a demand for cheap money.
Some of the banks Of his town were
loaning money at per cen;. The
tax rate proposed in the bill would
be higher than that in surrounding
states and if adopted would work
harm to borrowers. The proposed
wal QClNaANus
Mr.. Varney of Bristol thought If
the rate of interest in banks should
be lowered there would be more
money loaned by individuals.
Mr.. Weld of Berkshire thought
that with banks paying to l6 per
cent to stockholders there was no.
great danger of injuring the banks.
On motion of Mr.. knight OF Dunn
merston the previous question was or
dered. Mr.. Crosby of Brattleboro &c
manded the yeas and nays. The bill
was passed by vote of 12O 10 ~.
II. 230, providing for the appoint
ment of a commissioner OF labor and
state factory inspector, was taken up
at 1890 as special order. The
amendment proposed by the commit
tee was defeated. Amendments pro-
posed by Mr.. Mower. striking cut re-
ference to labor commissioner. abol
ishing some of the inquisitorial fea-
lures and permitting an appeal to
the Court of Chancery from an order
by the inspector.
Mr.. Blanchard of Windsor moved
a further amendment making the
limit of expense of the department
$4,000 instead of $500. which was
adopted.
The amendments proposed by Mr..
Mower we're adopted and the bill was
ordered to a third reading.
When the finance committee of the
Senate reported without recommends
ton House bill 524, relating to the
taxation of railroads, Mr.. Babbitt
favored the bill as did Mr.. Barber
and Mr. Laird. Mr.. Chaffee opposed,
as did Mr. McFeeters, Mr.. Preston
and Mr.. Johnson. A third reading
was refused by vote of 10 to 10.
The Senate has passed House bill
$50, relating to taxes in unorganlzed
towns and cores.
The upper branch this afternoon
passed in concurrence.
II. 2S4. relating to school attend
ance.
The Senate passed in concurrence,
II. 230, relating to office of state fac
tory inspector: joint resolution relat-
ing to mileage of certain officials,
and joint resolution relating to pay
of state highway commissioner.
The Senate passed the oleomargar-
inc bill providing for a reduction OF
the state license fee for sale of this
commodity from 500 to S25. Plac-
ards must be displayed wherever
oleo is used or sold.
The House this afternoon passed
the following House bills:
II. $50, to appropriate $500 for the
purpose Of securing the exhibition of
the New England corn show in Yer
mont
II. $50, to change the name of the
state board OF library commissioners.
II. SIS Relating to Intoxicating
liquor.
II. $3.50 create a commission
to establish uniform commission Of
municipal and city court forms and
records.
The House killed the following
bills adversely reported.
II. 76-Relating to the qualiflca- !
tons OF voters and to polls and tax
inventories.
II. 1O4-Relating to the transporta-
ton Of pupils.
II. 1O9-Relating to the subject Of |
taxation.
II. 4SS-Relating to polls and tax
inventories.
H. 46o-Relating to accounts Of
teachers.