form to be consumed in this State,-thus paying to other communities the profits upon the manufacture, which might and should be enjoyed by our own citizens. It is worthy of serious consideration, whether some means may not be devised, by which the resources of the State may be developed and put to use within our own limits,—whether by wise and judicious encouragement of the various forms of manufacturing and mechanical industry, capital may not be induced to flow into the State for investment, and the capital within the State be retained for investment at home. Possibly a modification of the interest laws to a certain extent, or the absolute exemption from taxation, for a limited time, of capital invested in new manufacturing or mechanical establishments, instead of leaving it, as at present, to the uncertain action of towns, might have a tendency to promote this result; and other modes of accomplishing the purpose may suggest themselves to the wisdom of the legislature. It is a subject deserving of careful consideration, and the example set by other States may be studied to good purpose. LEGISLATION. Legislative law, like judicial law, derives its chief element of value from its stability. A judicial body, which should annually modify, or overrule, its previous decisions, would be regarded as unsettling the course of business and would cease to command respect. Every reason, which requires that the course of judical decisions should only be varied for the most cogent reasons, which has made "stare decisis" one of the maxims of the law, applies with equal force to general legislative enactments involving the rights and relations of persons and of communities. Yet it is well understood that while courts change their decisions, when once made, only with extreme reluctance and as the result of the most deliberate examination, legislative bodies feel themselves governed by no such rule, but yearly repeal, modify and essentially change laws, both legislative and judicial, previously existing. This constant change in the course of legislative enactments is fraught with mischief; for, so that a law be not positively mischievous, it is of full as much importance, that it be thoroughly and generally understood what the law is, as that it should be in all its details the most perfect system that can be devised. A wise conservatism of the laws as they exist, so far as is consistent with a due regard to the pro gress of the age and the changing course of business relations, would go far to make the general body of the law better understood and respected, to place upon a firm foundation the interests of the State and of individuals, and at the same time be promotive of sound economy by diminishing the amount of business transacted by the General Assembly, and thus shortening the length of its sessions. Much time is consumed annually in the consideration and enactment of bills for the formation of private corporations. By chapters eighty-six and ninety of the General Statutes provision is made for the voluntary association of individuals, with full corporate powers, for the various purposes therein enumerated, and a carefully prepared and well guarded system provided for their control and management. Yet of the whole number of charters for private corporations, enacted in the years 1864 to 1868, inclusive, sixty per cent. are for corporations which might equally as well have been formed under the general laws without coming before and consuming the time of the General Assembly. Due regard to a wise economy in the expenses of the State requires, that your session should be limited to the shortest time which may be consistent with a proper transaction of the business which may come before you. A judicious disinclination, decisively manifested, to adopt any proposed change of existing laws, or any general legislation for special cases, without the clearest conviction of their utility, and a requirement, that all persons desirous of being incorporated for any of the purposes, for which provision for association with corporate powers is made by the general laws, should form their association under those laws, or that a bill for such purpose should only be entertained upon prepayment to the Treasurer of a specified sum of money for the use of the State, would have great effect in producing this most desirable result by diminishing to a considerable extent the amount of business which otherwise may claim your attention. FIFTEENTH AMENDMENT. Among the business, which should earliest receive your attention, is the consideration of the proposed Fifteenth Amendment of the Constitution of the United States, the adoption of which by the requisite number of States will, for the first time in the history of the Nation, give reality in fact to the truth enunciated in the Declaration of Independence, and incorporated into the Constitution of Vermont, that "all men are created equal," and will preserve inviolate the public faith pledged to the National freedmen. The sense of the people of Vermont upon this subject has been too often expressed by themselves through the ballot box and by the action of their representatives in General Assembly, to leave the question of its speedy adoption by you for a moment in doubt, or even open to debate. It is a measure demanded alike by justice, by good faith, and by common humanity. Trusting that without the necessity of a protracted session, you may be able to transact wisely all necessary business claiming your attention, I leave with you the care of the interests of the State and of its citizens, again invoking for your deliberations and your action the divine guidance of an overruling Providence. PETER T. WASHBURN. MONTPELIER, October 16, 1869. Senator Robert J. Saxe, of Franklin County, presented his credentials, and appeared at the bar of the Senate and was duly sworn. The annual Executive Message was, on motion of Mr. Halbert, Ordered to lie, and the Secretary was directed to procure three hundred copies to be printed for the use of the Senate. On motion of Mr. Nash, adjourned. MONDAY, OCTOBER 18, 1869. Prayer by the Chaplain. The Journal of Saturday was read and approved. Mr. Halbert introduced the following resolution, which was read and adopted: Resolved, That so much of the Message of his Excellency, the Governor, as relates to Finance, be referred to the Committee on Finance; so much as relates to Common Schools, to the Committee on Education; so much as relates to the Militia, to the Committee on Military Affairs; so much as relates to the Rates of Interest, to the Committee on the Judiciary; and so much as relates to the Development of Resources, to the Committee on Manufactures. On motion of Mr. Jones, the Senate adjourned at eleven o'clock. AFTERNOON. William R. Hutchinson, a senator elect from the county of Franklin, presented his credentials and appeared at the bar of the Senate, received and subscribed the oaths of office. The President announced the following appointments: Official Reporters: Edward M. Brown of Montpelier, The Secretary has appointed as Pages for the present session: William T. Dewey of Montpelier, Edward Swan Eastman of Montpelier. In the absence of the President, the Secretary directed the Senate to the election of a President pro tempore. Senators Dewey of Washington, and Royce of Franklin, were appointed tellers. The ballots having been taken and examined for President pro tempore, it appeared that GEORGE N. DALE, a senator from the county of Essex, had received all the votes, was elected, thereupon he presented himself at the bar of the Senate, and was duly 'sworn. Mr. Dickerman introduced a bill entitled S. 1. An act to incorporate the Orleans County Society of Natural Sciences; Which was read the first and second time, and referred to the Committee on the Judiciary. Mr. Halbert introduced a bill entitled S. 2. An act defining who shall be voters in town meeting; Which was read the first and second time, and referred to the Committee on the Judiciary. Mr. Heath introduced the following joint resolution : Resolved by the Senate and House of Representatives, That the two Houses meet in Joint Assembly on Friday, the 22d inst., at three o'clock in the afternoon, for the purpose of electing Judges of the Supreme Court, and a Reporter of the Decisions thereof, for the year ensuing; Which was read, and, on motion of Mr. Royce, Ordered to lie. On motion of Mr. Hutchinson of Franklin, the Senate adjourned. TUESDAY, OCTOBER 19, 1869. Prayer by the Chaplain. Journal of Monday was read and approved. Hoyt H. Wheeler, a senator elect from the county of Windham, having presented his credentials, appeared at the bar of the Senate, received and subscribed the oaths of office. Mr. Dewey of Washington introduced the following joint resolution, which was read and adopted on the part of the Senate: Resolved by the Senate and House of Representatives, That the two Houses meet in Joint Assembly in the Hall of the House of Representatives on Thursday next, at half past two o'clock in the afternoon, for the purpose of electing a |