The Barre daily times. (Barre, Vt.) 1897-1959, 1915-03-05
Vermont House Is Likely to
Pass Bill Making I'M
portant Change
LONG DEBATE HELD
ON THE MEASURE
House Killed Bill Providing
for Light on Road
Vehicles

The taxation bill prepared by the spe'
cial committee was taken up as a special
order this morning in the House, and an
hour was devoted to discussion, in which
Mr.. Demeritt of DuxbuTy explained the
probable results If a fiat rate on intan.
gibles was adopted and amendments were
offered by Mr.. Wilson of Chelsea and Mr.
Fairehild of Fairfield in an endeayor. tc
strike out the first section providing for
the flat rate. The House adjourned
without taking action, and the debate
will be taken up anew this afternoon
The bill is being given careful considera.
ton, and no decisive action is expected
to be taken until next week. There is
much doubt as TO the passage OF the bill
with the intangible clause included.
An amendment was moved by Mr.
Demeritt Of Duxbury that a new section
be inserted, to be numbered section I'll
as follows: "In towns having incorpor-
ated villages, school districts, or fire
districts, or one or more OF the same
said villages or districts shall receive
such a proportion Of the amount re-
ceiyed from the intangible tax as such
amount so received bears TO the total
amount Of taxes received from the polls
realty and tangible property in said
towns"
Mr.. Morse Of Hardwick opposed this
amendment as an unfair and an unjust
method Of division. Mr.. Demeritt con-
sidered il as method as equitable as
any that could be devised. The proposal
of amendment was defeated.
Mr.. Wilson of Chelsea moved to
amend, first, by striking out section |;
second, by striking out the word tan.
giblen in section ?, line.2; third, on the
same line Of the same section, by insert
ing after the word estate the words
"a taxpayer; fourth, in line of the
same section, by striking out the word
tangible"i fifth, by REMEMBERING the
sections.
Mr.. Wilson explained that he took a
test Of his town at town meeting and
found a desire TO go back TO the old
system OF offsets, with additional safe
guards provided, which his amendments
provided for. He recognized the a.-ise
Of the offsets in past years. He would
strike out the provisions relating TO the
seven n-tenths OF one per cent. tax on m
tangible property.
In reply to a request OF Mr.. Sweet Of
Lowell Tor definition Of intangible prop
erty, Mr.. Demcritt explained that intan.
ables were properly what might be
concealed. such as money, notes, stocks,
bonds, etc
Mr.. Fairchid Of Fairfield proposed 70
amend the first proposal OF amendment
by inserting the following Money
loaned within the state at a rate OF in
terest not 10 exceed five per cent. per
annum. evidenced BY a pr0missory note,
mortgage on real estate or personal es-
tate or by q bond for a deed, and credits
representing the purchase price or any
part thereof. Of real estate or tangible
personal estate within this state. sold
81 transferred. evidenced By a prumissory
note. mortgage or bond bearing a rate
of interest not exceeding i've per cent.
ner aunum, shall BE- exempt from taxa
tion
Mr. stacey Of Hartford opposed the
amendments offered by Mr.. Wilson
Mr. Fairchild Of Fairfield advocated
bis proposal uf amendment, he thought
there vas need "a relief from the bur.
dens of taxation. tie favored trc per
cent money and limited offsets. tie
thought such Law ~ that prup0sed
would not changc human nature. People
would not bring forward intangible prop.
ertv which has escaped taxation until
they were sure ol a permanent state
policy. Hc would AVOID the charge Of
feglsiatiur far the rich man.
Mr.. nemeritt argued iof the fat rate
feature 81 the bin. He sasd that MONEY
Lac a a1ci iuesmc. hzed By law az IA
ter cent. Tangible property has not =
ffrd Incnme. but NAV earn what fs
owner can make h earn On iutaugibie
pr,tsrtF. there is ueed fof = hNei ouieo.
persons ull net submit a. taAatiun that
ranHaratas q considerable portion 81
thair income An attemFt ~ impose
.ufh = state - TAXATION uth result in
one of thrse thinrs " all he driver
iass hiding. ~ driven into thf hanks.
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kau uea Industries aa.h - built Up -
maks rrnatsr Vermont money
skarIi - tatr1 at thr property rnte
vermont m1nes b rainE out af the state
ta 8a,siar thf Industries ~ athfr states.
ne fsIfsrH Vermont neffT uruld groa
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