Vermont has always been strongly Republi can and at present this party is in the propor tion of three to one as compared with the Democratic party. The Legislature of 1919 was made up of 30 Republicans in the Senate and 244 Republicans, 25 Democrats and 1 Inde pendent in the House.
Banking.— In the early days the people of Vermont appear to have had great distrust of banks and it was not until 1806 that the first State bank was chartered and then after long opposition. After an unprofitable career this bank closed in 1814, but in 1818 another at tempt to start banks was made and one bank was established at Burlington and another at Windsor, one by one others followed until in 1841 there were 17 and in 1917 there were 48 national banks, with a capital of over $5,000, 000 and surplus of $7,765,079.
There are 20 savings banks with deposits of $95,469,725 belonging to 211972 depositors and 38 loan and trust companies with $2,050,000 capital and deposits of $47,609,696.
Like many other of the older States Ver mont at first issued its own currency. The first bills were put into circulation in 1781. They ranged from a shilling to three pounds. In 1785 copper coins of the value of one cent were made and others of a different design were coined in 1888. Vermont has always greatly aided western industries by numerous loans. The assessed value of real estate in Vermont in 1918 was $170,566,493 and of personal prop erty $61,772,240. Of course the actual value is much greater.
income of Vermont is mainly derived from direct taxes,.trust funds, loans, inheritance, corporation taxes and nu merous smaller sources. The real estate is OP praised at $173,380,861, the personal property $66,059,545. For purposes of taxation the Grand List is fixed at $2,581,415, on which the tax for 1918 was $2.36 on the dollar. The usual running expenses are about $4,000,000. For a greater portion of its existence Vermont has been practically free from any debt, but war conditions have now and then made necessary a bond issue, as in 1917. There is a permanent school fund of over $1,000,000.
The Judiciary.— In 1763 an order was is sued allowing °all judges, justices and other civil officers)) who had commissions from New York to have authority as far east as the Connecticut River. At that time Vermont was
entirely within the jurisdiction of Albany courts, but in many cases it was almost im possible to execute the decrees of these courts, In 1778 special courts were organized in Ver mont, but they did not long continue, a Superior Court taking the place, which con tinued four years.
In 1781 County Courts were established and in 1782 a Supreme Court was the highest authority in all legal affairs and so continued till 1906. In 1906 the judiciary was reorganized by constituting a Supreme Court with one chief justice and at first three, later four, associate justices and a Superior Court with six judges, both elected at each session of the general assembly. In the latter court the first judge elected was chief. Each superior judge is ex officio chancellor. The Supreme Court holds five sessions at Montpelier, one at Saint Johnsbury, Rutland and Brattleboro annually. The superior judges appoint one of their number to hold a Court of Chancery and pre side in each County Court, two assistant judges sitting with him. These assistants judges are elected by popular vote. In addition to the above there are 14 municipal courts in as many of the larger towns. The Vermont judiciary has always been noted for its high standard, the soundness of its decisions, and clear-cut, logical deductions from the premises presented in pleadings; so much so, that a law library is not considered complete in the United States without a full set of volumes of the (Vermont Reports.) The State, moreover, has pursued the policy of life-tenure, notwithstanding fre quent elections, or during mental competency, insuring a stability of administration that does not always obtain where the elections of judges are by the people. The contrast between courts of this character and the ((rough and ready° methods of dispensing justice to trespassers from New York in the 'xGrants,l) by Ethan Allen et aL, is a paradox of Vermont's most wonderful history.