The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1885-07-24

mortgage tax law cases Bustalns tne
validity Of the law ON oil the points
raised bo,h in the state courts and the
United States Courts He simply fol-
lows tho DECISIONS Of our state courts
as touching thA questions raised under
our state constitution, aud over rules all
objections 10 the law, as raised under
che federal constitution, except the OBJ
lection that mortgages are assessed At
their face value, while lands are assessed
at only one.third Of their value. On
this point the court holds that where
an owner Of a mortgage is assessed for
the fun value of the mortgage. while
land owners are assessed at only one-
third OF the value of their lands, then
the court will entertain jurisdiction to
restrain the collection Of the excess of
taxes laid on mortgages over and above
that laid on lards, but as a condition
precedent, the owner OF the mortgage
must first tender to the tax collector
The third, or whatever sun in equity
he ought to pay, before the court will
entertain such jurisdiction to restrain
the collection of the other two-thirds,or
whatever iu equity the owner Of the
mortgage ought not TO be required to
pay.
This has been, for long time, held
to be the law in ali the states Ct the
union, with constitutions similar TO
ours. This brings us back to the view
which we have always held on this
question, namely, that the only true,
safe and satisfactory system Of taxation
consists in taxing all property OF value.
Let it all be assessed at its true value.
No owner Of horse can object to its
being assessed at it's true value IL Al
other property, like wise, 10 assessed at
.ts trns galue. Csrtainly,the owner oi
lands could not consistently ask tha
his lends be assessed at one-third iheil
value, while his neighbor, who has hil
money invested in mortgages, is assess'
ed fI- their full value. Tbs demand
came up from land owners few years
ago for the passage Of the mortgage taz
law to correct an evil that then existed
namely, that foreign corporations were
loaning money here in large sumF, but
were continu ally escaping taxation by
resorting to q variety Of subterfuges
Che law VAS passed, and il has been
Subjected 10 the crucial test Of the
courts, and has been declared valid
This is great victory for the people
but il view of the remarkable state.
ment of the court that il "might tax,
judicial notice" II the fact that lands
are assessed at one-tbiSd Of their value
only, it then becomes question wheth
or any Of thess taxes can ever bs col
lected, for tbess corporations will b'
continually applying to the courts fol
iujunctions TO restrain the collection ol
taxes imposed upon their mortgages or
the ground Of inequ Ility Of assessment,
and thus postpone payment. II is now
believed that on one p,etex OF another
they will keep this question in the
courts until eLey can call IN their loans
and sheriers will then End nothing up.
on which to levy in order to compel
payment. II our recent legislation has
established nothing IL . bnt the fAci
that money lenders must pay taxes al
well ss other people, then mnch hal
been accomplished We do not con.
cede that lauda ara sssesss st only
one third th sir value, in fsct we deny
the truth of the statement. II, bow
ever, it can be show that they are not
assessed ar their trns vaiue, we believe
we are safs in ventu-ing the opinion
that every honest farmer will join in
the demand to make taxation equal all
around.