The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1884-03-21
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# taxation il treated in such, away
= to show that our laws upon that sub.
ect ought to encourage our people to
run in, and remain in debt, and that
asurers and money lenders are the
best friends Of the people, and that
heir property ought MOTTO be taxed.
In vindication of the superior rights Of
this class that paper says .-
"Taxation of loans, mortgages, and
other credits is, in itself, . bOavy blow
70 industrial development and oowper-l
cial progress. And again ga more
efficient system TO paupsriSe the-ststo
coul d not be devised" s 81 .hee
Now, it is said that tho Scotch Cons
panies have loaned. in this State s2.-
SEQ, 900 mostly on farms, and it is alse
alleged, on the testimony Of actual az
perisnee of the Last few years. that the
borrowers have not made to exsssd3
per cent on this money. So, the usurer
has made per cent moro than the
borrower, which . per cent has been
taken from the state and taken to ScOt-
land to build up Dundee. IL it TO
produce this result that the 0reg0'.iaa
labors 80 diligently aud sarnsstlyi 4
This process is gradually but surely
roofing out the farmers of the couatry,
and transferring the ownership Of thss
sell frem the rural districts, to the
money lenders Of our own state and fer
eign lands. SD ~ .a-s
This credit and mortgage system il
surely but certaiuly tending to paupsr.-
ize the great masses Of agriculturists. By
making the many poor and shs few
rich. r 3
Daniel Webster once said that any
country whose laws encourage the ae4
ounulstion Of prof. erty 10 the hands Of
the few at the expsncs Of the many
could not long maintain ftes Institutions
And Jet this would be the. inevi,abl,
result se exemptiug money, mortgages
and other credits from taxation, which
sbe Oregoaiaa 50 INCREASINGLY advo-
Gates. ss -
There Is no truer saying under tn
sun than that the borrower is The ser
; want of the lender, And this is o,
half hidden secret to the borrower. II
continually fesls that be il such ser, AMI
Oliver Cromwell, fresh from the grea
victory at Dunbar wrote TO the indus
tries of the country to bear all the bur
dens of taxation No, the only safa
fair, equitable uniform system Of taxa
tioa is to tax all property, whether Ian
mortgages, notes, money or ether prop
erty of value, and all to be assessed :
its true value. In this way, and enl.
in tAis way, will taxation DO uniforu
and equal. AS before said, the Orego
nian system Is based upon the idea thA
the credit system Is bene6. 70 tn
country. Experience. and comnol
sense a. we'll show, that it is btigh
upon all industrial, commercial Ape
agricultural presincts. We believe i
the system announced by the graugsrs
to discontinue the credit aystsm, ia,
mortgage system, the fashion system
and every ether systeu tending to prod
igality and bankruptcy. Adam Smitl
in his Wealth Of Nations" lays doRI
certain elementary principles which on
people would do well to consider. Fl,
says that "the suLjest ofsEery stat
ought to contribute TO the snppott O
government as neatly as possible il
proportion to their respective abilities
that il, in proportion to the reysnu'
which they respectively enjoy unde
the protectisn Of the state."i
Cooley in his excellent work on tax
ation says, that "tbe protectioR of the
government being the consideration fsr
which taxes are demanded, all partis
who receive or are entitled to that pro.
lection may be called upon to rends
the equivalent" The Oysgonian woul'
violate both these maxims BY exempt.
ing money, nstes, and credits gsuerall:
from taxation and plses all the burtlsI
upon land. That paper would also. no
allow any Indebtedness taken from 1
persons assessment, thus placing tn
whole burden of taxation upon the
land owner. ~ ssslfaeas kas
Such is the system Of taxation which
capitalists would impose upon the prop
or. But will they submit toitf We
spine not. 1eG -