Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1880-03-25
CALIFORNIA LEGISLATURE
TOoy1IsuED PROM r1Rsr rAoE.I

TcoSTIsuED PROM FIRST PAoBl
savings banks have been so accustomed to escaping
taxation in the past that they do not want TO be
compelled 10 pay any now, and that is what Is the
,natter The commercial banks are not complain
coppIainipg When they do. it will be time enou IN
TO change the bill. The Constitution says we must
tax all property wherever we find it, and these
credits are property aud must be taxed. The bank
has the mortgage, and the mortgage is the first
interest in the land. 1t is time wesopped legislat
ipg in the interest of these Shyocks aud lesslate
while in the interest Of the people,
Mr. BKUSER-It seems to me that this is one of
the many sins that are to be committed in the
OF the Constitution. The Constitution may permit
double taxation butt rests with this Legslatureto
say whether shall impose it not There other
credits besides pass-bo0ks Ii we find out that ii we
tax pass-bo ks, we are making double taxation,
then we have the right TO say that no double taxa
ton shall be imposed. say that bill 401 is in IA
vcr of the commercial banks. Il will take the pat
ronage from the ga ing5 banks and give II TO the
commercial banks. | will tell the gentlemen when
thief will find out whether this is double taxation
not. They will fhd it cut when two per cent. has
been taken ont Of the pockets OF the depositor,
aud they nd that they only have three or four per
cent. interest per annum.
Mr. MAYBELL-lt is well known that snake never
dies until shutdown. These tsx-shirkers wrig
Cling We smashed the head Of the serpent with
heavy stone, in the shape Of ire
mendous majority. but the serpent is wriggling
again, and we must raise the stone and squash its
ns1u -. ~ az
They never shed any crocodile tears when one of
their heaviest concerns closed its doors and swim
uieu Poos hean n,na my 49, AZ
ti - a.. tIf an 1917 80 49, Tt,
defy the laws OF the State they say il YOU put this
tax on US shall defy you; we will not obey il !;
Se wiz Aulv ~ ~ VIZ poo, anu .
nm Pf IA ~ 80; H. a. sb,,i 49, - ~,
~ bs-1 a. every f;reside in the land would eay
- - J.o.;;.o-s H. o,,;oI,or 80, ,aIo ,,o,,r
- o,, 81 a. ba1da ~ tbasa mon ,bo tbreoten
- oSo =, ne ,h h,t y. 'I'e n0 ~. ,h ILL., 40
" ~ - th;s 7 -. ,har, &C., nax,nF ronev
80 tta ooa-ns T., thar, ,ritbdr.,y tbeir d.
nos;.s hons that tho sama- majority that nassed
S 20. Iii aom ,, nm md Hi tbis b;iI smasb the
read of this scotched sernat
Mr. Fox said he had no sySapathy to express for he
Door depostor nor any preiudice against the rich
} hut he had respect for a great, princple. The
question ia shall the Same proDerty be twice taxed
That il lust what 40t docs i confess that the bill
now before us is not complete but amendments are
cut off The depositor is taxed and the same prop
,-v ia aoain IN yed In the hands Of his agent They
tall aho1t the savings banks being borrowers Of
money IF any gentleman will show me one will
a0ree To forfeit their franchise They have no right
te dc if The money in the bank il the money of
the deposor as much as IL he placed it in his neigh
bors safe for safe keeping All this bill proposes is
20 prevent him from being taxed twice on the same
money The neope never intended any such thing
Nj MAY said he would not undertake to make an
argument for it would be useless but he rose more
TO put himself positively on record as unateraby
ODD ased to the principles Of 4O4 which does allow
OF double taxation This is QUESTION of the com
ulerciaI banks and Shylocks AGAINST the neople of
California That is what it amounts to The Sbv.
locks are on the rampage. They want the rates of
interest raised IL the savings banks would raiss
the rates of interest there wonld he no conflict he
tween them
Mr. HARRIS said his bill would not only include
deposits in savings banks but in commercial hanks
They issue pass.books The poor depositor has been
Invoked in this case. Wherever was there a SIN
pe,ous fraud attempteJ that charity was not used
as a mantle to cover the iniouitvq So far "a the
local asneet was concerned he was astomsbed that
local gentlemen ahouId nronounce IL double taya
ton / Gle them to the most eminent authors who
will contradict any such assertions / refer them
To Mr. CooIev na9e I5e
Mr MERRY1riIe whole argument in favor of this
hin s hased an the assert an that the bant IL ,hs
ngant m the denostor Az !, jeoaI nronosition az
Common. sense nronosition denv il RI n man Is
nv AGENT and loans money for me he loans IL in
NV name Rnt tbe hank Receives the money in the
name N the hank and il IL loaned ont aoan in the
name of the bank. The hank takes a mortgage
-ybich ia in the name Of the bank The aro,,xent
falls to the ground.
Mr. LANE honed the hill would he killed A hill
has heen nassed and SIGNED and let we'll enough
alone, If the bin had been unconsti,utionaI the
Cnvernor wouId have yeioed II If II ia constit,,
t;,,si then We want notb;nr to npiIifv it The
taIk about laws for the moor 7 have meyer aeon a
isy nassed in favor nj tue moor man and n live
hundred wears probably never shall.
MIR FRiroy quoted Article XIII and ARMED that
this was NOT contaminated The Constitution meyer
;ntended double taxation This B;Il M 4o4 taxes
tbs nronertv in the hands of the owner and aean in
the hands ~ b;s .gant and who 10 there vIo will
moi saw that this IL donble taxation For that rea
son he s,,nnortad the h;Ji
Mr. IA srEUApr said ,his whole discussion WAS
had on hIl 40l The question now simnlv il wbsther
We shall On bac, on t6e record we then made II 10
" - r "a - "a. k;ii t.oo,,ao tho T..-
g. ,honn have the b;ghast reo,ard su,Tasts tbat
= i; necessary Had entert,n.d the yiew which
tbe c,overnor exnresses I wonId have vetoed the
Lii What docs His hill mean II means that every
hanl- in the state the moment Won mass this hill
nil hacnyno at onca savinps hank 'rhe Consttu
tinn Soxs that crel;ts sbali he tax.d and we are
worn 10 carry ont its nrovisions How then can
10 rsinse9 hone the motion IN strike ont will
,revaiI
Mr. ANTHONY" Here we 20 aeain." hate the
idea of donnie taxatioo do not believe there will
10 a.v 6o,,hle taxation The state Roard Of Fo,,li
ya4ion will hive something 10 do with this But
sir there are cher THINGS in this new bin which are
,vroney There is lind assessment Question brol,oht
INTO This hill and il il masses there is great dancer
ta tbe wise nrovisions which we have
80, b;II NJ an4 will he ,ullifad and the land
rnonopolsts will be enabled to escape | sincerely
hone The bill NAV not mss.
Mr. Der V.IIK-I hold that under the Constitu-
.io these crslits ,nust be t,xsd We are commend
e5 TO tax ali bonds credits. etc These denosts
ara credits and saw IL Won oass this hill millions
millions of dollars in this State will
csrone taxation for the reason that Won
everant credits Men NAV denosit their money
one dsv before the Assess rs come round and Tim
escape TAXATION That is the objection to the bill,
"a We IA II IN lagslate in obadience In the Cnnstif,
to, n will n n avail fr the mandate still remains
Mr. Cook opDosed the bill
MIR. Young spoke in favor of the bill. The whole
object is TO prevent the deposor from being doubv
taxed | am willing that the savings banks shall
no tavel To the last dollar hut I am not WILLING
That denositors shall nav two taxes
Mr. SpEycyR said IL was the old story over ap-ain.
II carriss ms hack 70 last Nav The hill we have
nassed il constitutional and nronoSe that IL shall
Stand I do NOT nronose 10 discuss the ouestion
I.a GonstitTtion has dec;deI il and we mnst stand
~, tho tonstitution
~ ynS 6tr Ia ,ror, ,ho -or, - .ha ,.r,
ai;o,, - r.. H., It'll 80 ~. 80
I =; ~ 49,. - -, = ,.,,,t,,aI - H. I;l -.
pi.As in 'ie S..', " va " es P". 49,, ~ noo
Delieve tnat ehe iouse nas @n3 iigiS , W MUMMY tne
consultation. we raw "o iie"S W A"o" al! pioP-
erty 20 escape ta4aIon- ,
Mr. CAMRoS SAID oeiy any man 10 snow tnat
Ems OIL apples 20 any oeef Class oI cIeults tnah
lnlSs-oooks IN savings uanAS. Ing gentleman say
tnese men VIII uepoSl. enell hv"ey W escape saAa
uon, as the constitution says AT property must os
faxed on certain Gay, NOV, tners Is no oank IN
the State that would De wlling 70 oorroW lhilnohs
OF money Tor the purpose OF paying taxes upon H.
Mr. Lane says nc never saw Jaw passed. III the IN,
terest OF the poor: lie prooaoiy never Will Bil
NO 4u4 mas passed this house' ana tnat was not IN
the interest OF the poor This bill in the interest
OF the poor, AID the Legislature VIII not pass II.
The savings banks represent Slo,000OVO VI that
1 - halo To fhA Stnftrh hold