The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1915-03-05
NO VOTE TAKEN
UP TO NOON RECESS
Members Have Difficulty in Under
standing Technical Features of Tax
alton Measure Perry Bill to Come
Up In Senate Next Week
Especial to The Reformer.)
MONTPELIER. March

House bill 39S, an act relating toI
the taxation of intangible personal !
property, known as the taxation bill
and which was introduced by the spe-
cial committee on taxation came up as
special order at IL clock TODAY. |
The bill had been the subject of q /
great deal of private discussion byI
members in an endeavor 70 get some
light on its provisions, as the subject
is difficult for the average legislature
tc fathom, and in order 70 facilitate
discussion the amendments which were.
to be proposed were printed on the
house calendar for this morning. The
first was one offered by Mr.. Demeritt
of DuXbury relating to distribution of
tax on intangibles in towns having in
cCrporated villages and similar subdI-
visions. This amendment was refused
adoption after Mr.. Morse of Hardwick
had opposed as an unfair and unjust
method of division, although Mr.. De
merritt considered ii as cuuitble
method Of any that thatccuId be de-
viSed
Mr.. Wilson of Chelsea then offered
an amendment which would in effect
place the taxation law as il was pre-
vious to 1912, leaving the taxation on
intangibles at the same rate as on
other personal property and retaining
the offset feature with an additional
safeguard. Mr.. Sweet of Lowell re-
auested Mr.. Demeritt to give a def
milton of intangible property and the
| gentleman from Duxburv explained
that the difference was between ar
ticies which can he hidden away, such
as money, notes, bonds and stocks and
| those that could not be hidden away,
| such as real estate, horses. cattle, ctc.
Mr.. Fairchild of Fairfield proposed
| an amendment which would give the
people of the state the benefit Of
| per cent money. and for those who
| could not get the ) per cent money
| benefit. the benefit of q limited offset
| He thought that if the proposed in.
Itangibles feature of the bill becomes a
| law the members would he rightfully
accused of legislating in favor of The
rich man. Mr. Demeritt made ? stronc
plea for the short rate feature of the
bill. He said money had a fixed in,
| come, fixed by law at per cent but
| that tangible property earned what its
owner could make il earn and on in
tangible property there is need for {
fixed outgo He thought that person,
would not submit to a method of tax
alton that would confiscate consider
able portion Of income. An attempt Il
impose such rate Of taxation woul,
result in one of these things: Tn,
money would be drawn into hiding, o,
it would be drawn into banks, or draw
out of the state. He asked how man,
new industries could be built up in tn
; state to make . greater Vermont i
money were taxed at the property rate
He said Vermont money was going on
of the state to develop industries o
ether states and that Vermont woul
never grow materially under the pres
ent system of taxation.
a Mr. Soule of Alburg said = certai
amount must be raised by taxation an
he believed the more you reduced tn
: rate on intangibles the more you mus
, pay on tangibles. In reply to q quer
S Mr.. Fairchild explained that the pul
: pose of his amendment was to enlarg
J, the features of law of 1912. 1t wa
t not his purpose to extend the provi:
n ION of the act to banks.
5 In answer to a question by Mr.. Hi
V of Waterbury Mr.. Demeritt said tina
e he thought the operation of the pre-
II posed law at first would cause
shrinkage in grandlist, but woul
eventually raise it, because he argue
that intangibles now hidden away III
der general property tax will come
the light under the short rate plan an
!, he cited the experiences of those state
which have adopted short rate {
= taxation TO substantiate his contentiO
The bill was still under consider
tion when Mr. Morse of Hardwick, ha'
ing moved TO adjourn, Mr.. Proctor ri
ing to question of personal privileG
:. urged longer sessions in order to Gle;
y UP each day business. The hou
n, adjourned at 1902.
The senate had a short and uneven
full session, the only important featu
being passage of bill S Z relating
IN medical inspection of schools II
hill as amended allows towns to vo
" on the question and if they vote
have inspection school directors M
3 order it if they wish If a citizen @
fe iects to having his child examined
,i the school inspector he may after
I'd time in writing have the examinati
conducted by a physician chosen
himself.
al A public hearing that promises
ct attract considerable attention win
held Tuesday to consider the bill