Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1913-02-06
HOUSE-AFTERNOON
READ THIRD TIME AND ORDERED
TO LIE


HEAD iiiiND '"' - NM 'fi'Eh'D
:" LIE
II. 552.-Relating TO the taxation OF
young timber, came up on special order
for its third reading. Again ordered to
lie and made a special order for 2:l5
o'clock Tomorrow afternoon
TAX RlrJ
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! '''i's i'''N ''' an oP'"Ion from the at
| '"i' -S'ileIaI 'H''' l'e OH would pc IN
! 'oii',i'"'"', ~" ""Je''"" WINS nlaoe 10 the
"i'hnrH"h' VI lhe amendments Mr..
' uhl'ii'hsA SaIu I'VE pei cent exemption
| "saH"es hIEhef rate OF interest than
at present ahp"eh'
MI iapS"ou OF Peru advocated the
principle or Tree money and an abOl-
/ Hoh OF ofrsets tie claimed this would
| raISe the grand list OF the State over
! tWeINe million dollars. He then proposed
anne ndinents' which were lost. Mr.. Crosby
I OF hrattIePoro stated that banks in his
section ar" loaning money on real estate
at nv" per cent, and these banks are
sun paying their taA. He opposed the
! PM Mr.. Martin Of bennington believed
the only way to do away with double tax.
alton is to exempt money loaned on
! mortgage. ADO this and we have u,ade
start in tn" right direction" he said.
"1f We pass this bill this afternoon. Wa
can so home, having settled the taxa
tion question"
Ny Wright of Williston thought the
bin had been in way Of Iropress long
enouEh-'it is not q revenue measure buf
is hlochlns tn, measure ". desire, tn
pass he said
Mr. FoOte of Cornwall Thought an
property should be taxed. and individ,,al,
/ should stand on an e1lal footing u.t,b
corporations meaning banks. TIL. hanks
! have been public bcuefactors H.. ,.,,,,,,.,..,
tho bill Mr.. Ch.slry nf Sb.niold o,,,.,...,
/ the bill
Mr.. F|1vnn OF Doreat ,si,oi ,i,.,, a.. ,..,,
/ be ordered IA lie ,,h,ch ,,.a., NO., =,
! then moved IA amend h.. s,.;i.i,,..'
words ''nt q rate of i,,,o,,,,, .,,,,
! ing five per cont no, ,nr,,,, :, ..
ondly by inserting the words ..n,. n,r.
| ' f''I'''NN ll'T IHt words real CS-
| tate Hoth amendments We're lost Mr.
IioaE OF GRAND Isle opposed the bill; Mr.
hehdrlck OF Greensboro favored the bill
/ NIr' HuIett OF Rutland city moved to
/ amend ~ striking ont the word five
ana insert IN" word -four" making it ex-
Oi'P' '''"cH loaheh At four per cent Mr.
wright of Wiliston opposed the amend
I ment Mr., Comngs Of Richford smoke
/ against IN" bill a. whole. MIR fulett
! stated he had made the motion to amend
/ BECAUSE the rich men were loan,nr
money to the banks at four per cent
nov II they Will loan on mortgage secur-
Ity at four per cent. they viii aid tho
/ borrower, who is generally a poor man
/ Mr.. Ilulett'S amendment was lost. Mr.
/ Hendricks motion to amend by maxim,
the exemption at : - per cont was lost
/ Mr.. Jose Of Johnson cited the + : gov
/ eminent H. exempting bonds from toxo-
| tion. You exempt municipal bonds to
make them attractiNe-you then double
| your real estate mortgages to make them
attractive IT YOU pass this bill YOU have
abolished double taxation in Vermont
will favor this bill, or any bill" he said
I (Which will bring back the 81 million dol
/ lars OF Vermont money now loaned in the
/ West