, 1879-03-26
WH1T1NG'S REVENUE BILL.



EpH1yaP1EtD, Afurch3f.~-f read With attention
your criticism on my "bll far m net to prevent
double assessments upoh ncunibcrrd real estate
..it to provide Tor nn equitable division Of tho
taxes between the PARTIES In intcrcst.a
/ scu must cxplau this matter bcfors I get
TuE 1N1hUsE for convert.
There ;lre tbrcn nctl1otle, Or proposed methods,
Of assessing mud taxing 1a,ltls under mortgage.
IL Tu tux the o,7tser Asld debtor In full for Tie
Lands, md then to snx also tle holder Of the
mortgage. (o) 10 tux tho owner und debtor in
full for tho 1niMl, nlld then cxompt from my
taxation tlle t,ollcruf tho mortgage. % 70 tnx
tic owner slul debtor ratday With the holder of
tho mortgage 80 as eaultal,!y to divide the tnx
between them In proportion TO tte!r interest IN
the lntd,
Thc first is tho law OF Illinois as 1t now
stands. Tie second Is The mode advocated by
the TR1nuAE. The third Is the plan prppUscd
to hc reached l,y my bill.
!. object to tho present Inv because It is
Aenbc taxa,ion II executed aceossling to It's
terms. It. taxrs tl!c deotor Inexorably. md
ten mostly taifs to rrae tue creditor by inper-
fcc.!on of thu lnac!try. II ts estimated that
mare than I'll, ,0U0 ntrj Of u per cent mlurtgagcs
by tl.esv imptrfcctions escapn all ta1ntion,
2. object to IllE 1nlHusE's ,,.an because It
impoacs Ill the burdens Of taxes uu The debtor,
aud totally cxclnpts tho crcttitf't, who gcncraily
Is must able tn lsly.
s. n,n in favor uf the third plan ntteul}tct
to 10 et,ibntieu In my bill BECAUSE It avoids
tluihte taxation, because 1t reuce6 creditor na
vol us debtor, nlll Is thereby just nnl eguIt-
nble; ntit bccnusc 1t txHctly Gunforms to tbs
Constellation, "by leyytn. Il tux by valuation,
NJ il,t EVERY person uttl corporation shull pay d
tax In pFoUrttou tn thu value Of his, hcr, Or Its
psupusts."
Tmr TntnuwE agrecs with mo that Tho present
mode oi aon!,lu taxa,ion IL wrong. Tic rcuctIy
L. inv
cxrlnpt tin crtllltos. Ny remedy IL to d[v!tp
Inc lax cquital!y between tlr dcbtnr u,d tic
CREDITOR
Ivolnplatn of The present law beca,,so 1t docs
not c!IrrtuaiIy reach the creditor. TUE TR1H-
uSE thinks abuut the nntY snvin,, grace oE tho
,resrnt !aw is, tiut II aT0rtls slsrt facilities for
creditors to tsenpr. 1t prcfers, Of cutrs, to let
tlscnl eacapc by Inv, aud 80 advocates i chanEo
To tlnat etIl.
! have stated tllu case, and might rest here,
but lr&lre to tsotlee nslA rcply to su,Ilu Ut tu
specific Objections Of THE TRIBUNE to my bill.
Ku1llcr tIletn from tls Two articles NJ iolows:
ty, hit! would scsld tho tnx.co'lector III fruit.
luss hunt after t!lu holders Of mort gagrs, uni
thereby Tho pnblc lose the taxes on land.
Z. That Ii Will bo no relief tu debtors. bc-
causu llla creditors will cl,urge higher interest
un their Iuollcy, Mlld 1e nUto cxAct!ng III their
answer, my bill fol'ows tho Constitution md
tAxes "nGra0ns IN propostion tn their psop~
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