The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1913-02-15
HOUSE IN FAVOR
OF ABOL|SHING
ALL OFFSETS
Feature OF Taxation Bill Passed
After Long Debate
EXEMPT
Nearly Entire Day Taken Up With
Dscusslon-LegisIatu Adjourns
to Monday Evening

Montpelier, Feb. 14.-Both branch
es of the General Assembly adjourn
ed tonight to return Monday evening
Nearly the entire day in the lower
branch has been devoted to discuss
ing taxation and shortly before the
House adjourned it passed House bill
las after amending 1t by adding the
Laird bill, Senate &c.
This bill provides for an exemption
of money loaned at Az per cent oil
less, evidenced by promissory note
mortgaged on real estate or by q
bond for a deed. AIR offsets are abol
ished by this measure. The bill has
been held back that it might be taken
up as a compromise measure IL other
measures failed.
Probably no more spirited debate
on taxation has been had in a Ver-
mont Assembly in 20 years as the var
ious speakers insisted that the time
had come when some sort of reve-
nue. measure must be passed. What
the Senate will do with the bill is
a matter of speculation.
On the passage of the bill, the yeas
and nays were taken, on request of
Mr. Orvis of Manchester, resulting in
10 yeas and SO nays, and the bill was
passed.
AS passed the bill reads as fol-
lows
Section 1. Money loaned within
the state at rate of interest not ex-
ceeding Az per cent per annum. evil
denced by promissory note, mort
gage on real estate or personal es'
tate or by a bond for a deed, shall
be exempt from taxation.
Section 2. No deduction on account
of debts owing shall be made from
the appraisal valuation of personal es
tate nor from the grand list OF any
person; and sections 545. $40, $780,
554 and $50 of the Public Statutes,
and All amendments thereof, and all
sections and parts of sections of the
Public Statutes and all acts and parts
of acts inconsistent with this section,
are hereby repealed.
Section g. This act shall take eff
feet upon its passage.
The House has accepted the follow.
ing conference reports:
On S. 17-An act in relation of pu-
pills for advanced study. The com
mittee on conference reported that
the Senate recede from its position
and the report was accepted.
On ii. 551, relating to the damming
of the Dover branch of the Deerfield
river by the Wilmington Power and
Paper company. Conference commit
tee reported disagreeing and the re
port was accepted.
The House concurred in Senate
amendments to the following:
Ii. 230-Providing for the appoint
ment of a commissioner of labor and
state factory inspector and defining
his duties (ten amendments)
II. 234-Amending acts relating to
school attendance.
II. 55S-Amending sections Of the
Public Statutes relating to taking ma
terlals for highways.
II. 569-Relating to the taxation of
polls and ratable estate in morgan
lied towns and cores.
II. 525-An act Incorporating the
Southern Vermont Light and Power
company.
The house has refused TO concur in
Senate amendments to the following
bills:
II. 547-Appropriating money for
the state fair commission and in aid
OF agricultural fairs.
II. 54S-To enable savings banks or
trust companies to secure postal saw
ings deposits.
The House has passed House bill
537 relating to the taxation of tele-
phone companies This provides for
laying a tax of IL per cent upon the
physical valuation rather than upon
the gross earnings of telephone com
panies.
The House committee on ways and
means at the morning session intro
duced House bill 596 to provide for
the payment of an annual franchise
tax by companies supplying water.
gas, steam heating. light. power or
electric energy. The bill calls for
fivetenths of l per cent on gross earn
ings from all sources within the state.
and per cent upon its total annual
dividends in excess Of per cent de-
clared or paid upon the atcual amount
OF paid up capital employed by cor
porations. associations, point stock
companies or persons. The term
gross earnings" to mean all receipts
from the employment Of capital. with
out and deduction Read twice and
ordered 10 lie and be printed
The Senate has made a special or
der for Tuesday morning on Senate
bill l31, TO define the liability Of an
employer to pay damages for injuries
received by an employee, etc. The bin
was taken up as a special order. and
on motion Of Mr. Blanchard Of Or
leans was ordered to lie and made a
special order for Tuesday morning at
1880.
In the House. House bill 554, TO pro
vide for erection Of a building for use
Of state library. Supreme court and
for other purposes, was ordered to lie
and made a special order for Tues
day morning next al 1890 O'Clock.
Another bin tabled In the House
was 5. Ill, providing for the nOmina
ton Of state. congressional and cOun
~ officers BY a direct primary sys
ten. Il was called up BY Mr.. Proc