Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1877-01-27
REVENUE.


ing a question. the importance Of which
is 80 great that it involves tho peace of
the country and the liberties Of the PEG
Pile, we can not now look To it tor 4 care
tui attempt at u corrective tor the evils
in federal taxation. but We can and do
expect that the Legislature will do some
thing toward this object, SO Tar rs state
taxes are concerned. In the twenty
seventh general assembly a bill. known
rs the Heard revenue law" was pro-
posed which covered many of the points
which it is desirable TO guard. but
its main features We're defeated by
the money lenders and the msr-
chants in the large cities. who. I'M
der the present Inefficient law. in Il great
measure escape taxation. We do not.
in this article. propose to draw up a
revenue law. but we desire to mention L
few features OF the act which should be-
come the law of this state.
The first thing that we would impress
upon the minds ofour legislators IS that,
whatever else they do, they must make
the new law concise. and word it in such
unmistakable English that it will be
impossible to conStrue L single sentence
III it in two WAYS. This we know is
requiring much. but not more than the
people have i right to ask. II the COM
m!ttee which draws it up cannot write
good. square. plain English. and punci-
ultc il correctly. Jet them hire some one
who i II and it will be the hes. spent
money that they will appropriate this
winter. The old law is in this respect
4 snare and L deiusion. and has cost
losses and trouble, and much bad teel-
ing between county courts and ta1-pay-
cI>.
In the payment of taxes al persons
should be on equal footing. II l man is
poor. and his avucation has led him into
investing his scant earnings in 3 few
acres OF land, he should not on that &C
count be any more certainly forced It
pay taxes than his richer neighbor
whose property consists in money, notes
and bonds. On che other hand, because
\ man may own the latter. there can
be no good reason tor asse ;sing his
property at its full value when his neigh
bor's land Is assessed at but onc-halt or
three-tifths OF what il Is worth. The
law should deal out to the citizen equal
and even-hunded iustice-uO more. no
less. For this reason we believe tina,
the assessment Of all property, for state,
county and municipal purposes. should
be Al its full. marketable value. Ii this
should. for any reason. meet with in
s~urmountable opposition, then money,
bonds and notes should be assessed AZ
the sa,ue ratio of value that IS fixed up
on realty and other personally.
Another injustice which the present
law works Is the double taxation III
cases Of mortgages upon real estate,
The notes and tn real property being
both assessed. e bout regard to equity.
We hold that : 'aw should exempt
the real estate iI"l. taxation TO the eX-
notes should be taxed for the residue.
We know that this doctrine is strongly
opposed bv money lenders that they AT.
que that the borrower viii eventually
have TO pay the tax, by an Increased
rate Of interest, that it VII drive capital
out q the country &c. &c. 10 these OBJ
~ieGtlOns We have iuss this to say That
in the state Of Missouri rate, of interest
are already too high. and that no law
can make them more onerOu-, tor the
simple reason that the people have come
t, learn that paving ten, twelve aad
fifteen per cent. tor money 10 operate on,
either in farming, manufacturing or
merchandise, means pure and simple
coniiscatiOn and now that the inflated
condition OF business ensendered by
the war is over, and everything else is
coming down to hard pan, SO must the
hire OF money. AS for the bugaboo Of
driving capital ont OF the country. we
think that may very well be left to take
care of itself. The first question that
will present itself to the holder Of money
will be, where can These dollars earn
the most ?" certainly not in the cas-,
where rates OF interest are from five to
SIX per cent. on permanent loans and
most probably not in the west, where
the uncertainties of investments counter,
balance the slluring bait of high rates
One OF the very first considerations
which should actuate the trainers OF .
new revenue law is to make the certain
ty OF the collection of the taxes. justly
and equitably imposed, absolutely be.
yond question. With the present laws,
and the rulings OF courts under them, il
is really astonishing that taxes are paid
as well as they are, especially on real
estate tor 4 tax title is no title at all
and never,or very seldom .dispossesses b
holder. This, while true. seems to be
an a~bsurdlty Us the state has carefully
provided for the certain collection OF
debts between citizens, and made no
provisions for the certain collection of
debts due her from citizens. No greater
incentive car be offered tor Delinquent
c.es than this. and on the other hand no
better spur to prompt payment can be
applied than the certainty that a failure
10 pay will work a Iona ide forfeit
ur,. of the land. For this purpose we
know OF nc better plan than that pro-
posed by Judge VIM. Young o a cor
respondent in this paper: i. e, to invest
the county or circuit courts, or both. in
matters of taxes with the same iurI>dic-
ton that the circuit courts have in civil
cases; and requiring the delinquents. to
pay the costs in the suits. The iudg,
ments rendered would convey good
titles titles that would everywhere be
sustained by the courts; and we see no
other plan that will accomplish the OBJ,
isct. That it should be accomplished
is only l. matter of justice to the seven,
ty-tive or ~eighty-tive per cent. who paw
A. f.