The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1874-03-20
Taxation of Mortgages.
A FIT SUBJECT FOR THE CONSIDERATION
OF THE LOUISIANA LEGISLATURE.
From the Plaquemine Sentinel

| OF THE LOUISIANA LEGISLATURE.
From the Plaquemine Sentinel
| There has been introduced in the
California Legislature an important act
concerning the taxation of mortgages
and which we think worthy the con
sideratiOn OF members of the Louisiana
Legislature.
This California act provides that the
person holding the real estate mortgaged
shall be assessed for the value of said
real estate, less the amount mortgaged
and the person holding the mortgage
shall be assessed for the amount due
thereon; provided, that in all cases
where the holder of u mortgage does
not reside within the county OF town
wherein the mOrtgaged premises are
situated, the county or town tax for the
amount due on the mortgage shall be
paid by the person having possession of
the mOrtgaged real estate, and the re-
ceipt of the Collector shall be legal pay
ment for so much Of the interest of said
mortgage, and shall be deducted there
from.
For instance, A owns and lives on a
farm valued at two thousand dollars
and which has been assessed for taxa
tiOn at that valuation but he owes B
one thousand dollars, who holds an in
terest bearing note which operates and
is q mortgage on the farm for that
amount. Now, this California act con-
templates that when the tax collector
co nes for the taxes due upon the assess
ment, he is to collect from A the
amount OF tax accruing upon one thou
sand dollars, and from B a similar
amount on the other one thousand dol
lars, and for which he holds an interest
bearing mortgage on the farm-thus
making the mortgage share taxation to
the extent OF his investment or property
in the estate. If, however, B, the mort
gagee, is a nonresident, or beyond the
limits Of the jurisdiction Of the tax col
Iecting power, A, the mOrtgager, who
has possession of the farm, shall pay
the tax due on the one thousand dol
lars held as a mortgage by B; and the
receipt given by the tax collector to A,
for the payment of the tax assessed
upon the mortgage of B, shall be re-
Ceivable at the hands of B to the ex-
tent of its face amount as legal pay
ment for interest of the said mortgage.
The result of the operation of such a
law would be simply q taxation of
upon the same basis of as
sessment as that Of the real estate
; and one we would like to
see in force at present in this State.
Such a law would be eminently Just,
and be direct and practical relief to
the almost crushed possessors of en-
estates. Fully twO-thirds of
the landed property, especially that in
in this State, is mOrtgaged,
and at the mercy of foreclosure. Most
of these mortgages have been obtained
by capitalists through advances upon
paper he.vily discounted, and now bear
ing from ten to twelve per cent. inter-
est per annum. The possessors of
these estates are staggering under this
load of encumbrance.
Is it not just, then, to compel the
mortgage to pay the tax accruing on
the amount of the mortgage he holds
70 the extent of his mortgage he is,
eonstructively y, possessor of the estate,
and is deriving upon it an enormous
iate "a Of interest, and might, contingent
", become sole possess0r for a mere
song. Property thus invested and thus
productive, should not be permitted to
escape It's legitimate share of taxation.
Again we say, this is a fit subject for
the consideration of members of the
Legislature now in session.
WASHING CoMPoUND.-The use of |
soda for washing linen is very injurious
to the tissues and impaIts to it a yellow |
color. In Germany and Belgium the |
mixture is now extensively |
and benefcially used: Two pounds Of |
soap is dissolved in about five gallons of |
water as hot as the hand can bear it;
chen next is added to this fluid three |
arge- sized tablespOonfuls Of liquid am |
nOnia and one spoonful of best oil of |
These fluids are incorpora-
Ted rapily by means of beating them to- |
sether with small birch broom. The |
linen is then soaked in this liquid for |
.hree hours, care being taken to cover |
wooded cover. By this means the linen |
S thoroughly cleaned, saving much rub |
ping, time and fuel. Ammonia does not |
tffect the linen or woolen goods, and is
argely used as liquor in the north of |
England. ..s-.
Andrew jackson was once making a |
stump speech in country village out
West. Just as he was concluding, Amos
Kendall, who sat beside him, whispered, |
Tip 'em little Latin, General: they |
Won't be satisfied without it.n The |
hero of New Orleans" instantly thought |
# few phrases he knew, and, in voice |
II thunder, wound up his speech by exa
claiming: "E pluribus unum, Sine qua |
ION, Ne plus ultra, Multum in parvo."
The effect was tremendous, and the |
houts could be heard for miles.
Prof. Proctor says that if an infant
we're born having an arm Of the length
# 81 ,000,0 900 miles, so as to reach the I
un, and if in the cradle he were to
tretch out his arm and touch the sun,
hat infant might grow to the three
core years and ten allotted to man,
nut he never would be conscious of the |
act that the tip of his finger was |
Durned he would have to live one hun
LTed and thirty-fiye years before that |
would be experienced. Some infant |
'ught to lust try this to see whether the
Professor is right.
"Fve known many church to die
cause it didn't give enough, but never
,nowed a church to die cause it gave too
much. Dey don't diedatway. BREEDER
II, has any OF you knowed church to die I
cause it gave too much Ifyou do, Jest
ct me know, and I'll make pilgrimage
0 dat church, and I'll climb by de soft
ight of de moon to its moss covered roof,
nd I'll stand dar and lift my hands to
eayen and say, Blessedare de dead dat
lie in de LOrd.W
The Boston Transcript says: "If the
ates of heaven were suddenly to swing
pen and all mankind be asked on equal
erms to enter into the kingdom, don't
on know some who would pause to see
THAT some other people would do about
5, and some who would draw back for