The Saline County journal. [volume] (Salina, Kan.) 1871-1893, 1875-01-14
The Taxing O. Nartgages.


see HAT David a. Wells, the great eeOno-
m,Sf 1T financial memory, u out against
taxing mortgages, with a flourish; ana
thai the Inter Ocean OF. Chicag" (whi Il
has great nany things in tow whilst
dissenting from the argument used ani
The Justice of The CLAIM. siiil cautions
,,ep, lie ag im>, taxingm"riaages.
For myself think this question l.
yer, simple. and one which can be dis
posed oi by amy iei' handed man, a.
E. li"wS: Surure, tor instance, That M
der "a law relieving mortgages from lax
alton. had on the Lit day of March.
1874. $1,000 in ea-h (Which unf"riu
na'eiy did not hav") and tbs, 10 Ma,
~ jane following. rcinri Ell the same
io he ;iS.cEsGr Tor taxation. OF cearec.
Ia COR would hare) 10 pay tax "n IA :
,robahlv rot bring ne ~ ANYTHING, IA
lho wav ot interest. or "tl!-r~l--.
SunI,u>v. again, mat gr. He!ls lived
here. and bad n- the u lay 81 -. A.,
precious the sa"" i:;n'nit ~ luGis"N
yhi,h. i.-iorc III II day ~ aarch tai
lowing. h. i,.aned GU tor fi,, Year. -
10. l.. ~ 20 per cent intrr-,i, and h:ni
taken mortgage on land 10 secure j.
Under hi, bsauiiinl system If -" ilirai
economy. he would me-, he required !"
liz, il, nor would he have Ia pay anv lax
thereon for five year>-u hicl would u"
very pretty piece nt ecnnomy for HIM
the more so iccau.c his money w0ulr;
hr bringing him in "a large rate per cent
! II would look something like "a job pm
up in The Interest nf Mr.. Wells. "a the
man Ia whnm Mr.. Wells lnar-d hi
money could and would. i.y the tax Iaa,
nt the Stale nf Kansas, Offset the S20Uc
he WAS owing Mr.. Wells against th,
- 900 cash borrowed at him. AID o.,
al mfnitum OF I'D infndaa' comes il.
| 'icre). la consequence, $4,000 of cash
capital would be- siraigh; wav sunk, -"
lar ;is taxation was concerned and iln
community would have to conc tnrwar,
nd pay On the way ot u h CHER l"vy OF
fteir property the taxes Mr.. We !
"u@hi tn have paid. AT moS'apd, the b"r
rover only pays on his land. in few
'-;~cS prrhapa"n III" 81 000. he borrow>
which tie irndPr shnuId pay Can W.
afford % pay large interest on borrowe
""ney. AMI also 4" pay The lakes of IT,
men of whom we borrow II ="
i"irr,st and taxes do not amount
much. aud the pr fits of business ar,
larger than ! suspect.
Ia taNin" n"r'"ar"s, there IL no snr',
'hingh "a d0utlr ,aXaiinn one time il
en- except in c:lses where people hn,
tand on time ~ d give notes secured h,
Mortgages; and ihi. onlv &C, urs through
he formation at new capital by a0fp; siii.
'h">e people d" no; complain ~ mnrl
~ capitalists, whn seem I" wish to av"in
nayina taxes on all hfjr cash. If casl
should not Le taxed. why Will they per
~i.i in taxing my lame hnrse aud nj,
job Its of garden stuff?
| wnnt Mr. Wells to smoke the fore
going in his Dn,rh pipe aud "iherw,>,
make himself useful hv sticking a pap,
Of pms into the following. whirh point
= moral: While hls 81 coo is pawn.
him GOOD interest and is not ,nxuhlr
my s. 0G0 is not paving me anylhingii
this respect, aud IS tax.hle. Aud
'r.niutain Il al NY $4,000 is cirrua,ir.
and maxim = IL many people happy u,
his So 900. (This IL on rir sup,nsiIi.,
that a law should exist cxrmn,ir,
mortgages from taxation-ihat j.. note
secured hv mortgages. There is no snri
thing ia kans;,s ~ inXing notes secured
by mortgages and also the mortgage
Mr.. Wells should come right out and
,ay that money lenders should moi b. !
axed ~ all. So that the honest tnile |
-nuld see the advantages If o,r, !
rndii u. Ii would discourage farming /
If course. aud the other:,rt- An -riemrr,
md mic make The vacation az Al. |
.aritalis, les. .lotriurs.
will b,ta ,rrei If -au- krau araln-
gold .lr:.jt. that nnt IT The cash ,.,pj