however, a significant development of manufactures
in recent years. The value of products in
1900, $57,646,715, was 50.4 per cent. greater than
in 1890, and the capital invested, $48,547,964,
had increased 48.2 per cent. during the same
period. In 1900 there were 29,455 persons
engaged as wage-earners, or 8.6 per cent. of the
total population. The most important group of
industries are those which depend upon the
forests for their raw materials. The great increase
in dairying has been accompanied by a rapid
development of the factory production of butter
and condensed milk. The superiority of the
stone resources of the State has afforded a basis
for the manufacture of monuments and
tombstones and for the allied marble and stonework
industries. Of the other industries, the more
important are the manufacture of flour and
grist-mill products, foundry and machine-shop
products, woolen goods and hosiery, and knit
goods. Burlington is the largest manufacturing
centre. The following table includes the most
important industries for the census years
indicated:
INDUSTRIES
Year
Number of establishments
Wage-earners average number
Value of products, including custom work and repairing
Total for selected industries for State
1900
1,618
15,000
$34,366,777
1890
1,413
13,688
23,947,027
Increase, 1890 to 1900
......
20.5
1,312
$10,419,750
Per cent. of increase
......
14.5
9.6
43.5
Per cent. of total of all industries in State
1900
39.7
50.9
59.6
1890
46.6
61.9
62.5
Cheese, butter, and condensed milk
1900
255
522
$5,656,265
1890
123
263
1,602,641
Flouring and grist-mill products
1900
211
190
3,222,347
1890
217
251
2,890,174
Foundry and machine-shop products
1900
61
1,288
2,185,510
1890
61
733
1,199,067
Hosiery and knit goods
1900
14
1,041
1,834,685
1890
10
705
1,105,958
Lumber and timber products
1900
658
3,625
6,131,808
1890
779
6,054
6,958,674
Lumber, planing-mill products
1900
46
814
2,598,581
1890
31
628
1,868,760
Marble and stonework
1900
54
1,773
2,484,551
1890
46
1,353
1,656,637
Monuments and tombstones
1900
268
2,974
4,045,611
1890
96
1,095
1,492,384
Paper and wood pulp
1900
27
1,216
3,384,773
1890
21
1,065
2,449,049
Wool manufactures
1900
24
1,557
2,822,646
1890
29
1,541
2,723,683
Commerce. Considerable foreign commerce is
carried on with Canada through Burlington,
which is the port of entry of the United States
customs district of Vermont. The imports and
exports of merchandise from this district in 1901
were $12,242,835. The district of Memphremagog,
with Newport as its chief port, had an aggregate
value of imports and exports for the same year
of $5,004,556. This commerce is carried on with
Montreal, principally by the way of Lake
Champlain and the Richelieu River; and by means of
canals navigation is also practicable to Albany
and New York.
Transportation. The railroads of the State
are operated chiefly by the Central Vermont,
the Boston and Maine, and the Grand Trunk
railroad companies. The total length of roads
was nearly stationary during the decade
1890-1900, about 1000 miles, of which 870 are local.
Improvement is being made in the public
highways, the State having provided a system of
State aid and supervision.
Banks. The opposition to banks was so strong
in Vermont at the end of the eighteenth and the
beginning of the nineteenth centuries that there
were no banks until 1806. In that year a State
bank was established, which was owned and
managed by the State. The conditions imposed upon
it were so stringent that it had little success,
and a law was passed to wind up its affairs in
1812, but the final settlement came only in 1845.
In 1817 the first private State bank was
chartered, and by 1827 there were ten of them. There
was no general banking law, and each was
governed by its charter. The act of 1831
introduced a safety fund system for the purpose
of guaranteeing the circulation. The fund was
made up of payments by the banks to the amount
of 4½ per cent. of their capital stock. A 10
per cent. tax on profits was imposed at the same
time. In 1842 another act was passed, relieving
from this contribution all banks that should
execute bonds guaranteeing all their obligations
in specie. A free banking act was passed in
1851, allowing note issue only on deposits of
reliable State securities. All these measures
put the banks on a very sound foundation,
and Vermont did not suffer any serious bank
calamities. The introduction of the national
banking system gradually reduced the number
of State banks, and none were known to exist
after 1890. There have been savings banks since
1850, and they are popular. Some of them
combine the business of a trust company with
that of a savings bank. In 1902 there were
48 national banks, with capital, $6,460,000;
surplus, $1,515,000; cash, etc., $982,000; deposits,
$12,620,000; and loans, $13,301,000. There were
41 mutual savings banks, with 128,529 depositors,
and total deposits amounting to $41,987,497.
Government. The capital is Montpelier. The
Constitution was adopted by convention July 9,
1793, and amended by conventions in 1823, 1836,
1850, and 1870, and by the people in 1883. Every
tenth year after 1880 the Senate may propose
amendments to the Constitution. If an amendment
receives a two-thirds vote of the Senate,
and a majority vote of the House of Representatives,
and a majority vote of each House of the
next following General Assembly, it shall be
submitted to a vote of the people, when a majority
vote determines its final acceptance or rejection.
The State sends two members to the National
House of Representatives.
Suffrage is granted to native or naturalized
citizens of the United States who are twenty-one
years of age, have resided one year within the
State, and are of a ‘quiet and peaceable
behavior.’ The registration of voters is required.
New ballot laws based on the Australian system
were adopted in 1890.
Legislative. The Senate consists of thirty
members, apportioned among the counties on the
basis of population. The House of Representatives
is composed of one delegate from each town
(township). General elections are held biennially
on the first Tuesday of September of even
years, and the sessions of the Legislature
convene on the first Wednesday in the following
October, and have no time limit. Revenue bills
must originate in the House of Representatives.
