The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1885-02-06
ASSESSMENT AND rAxATres.

nave turned their attention 60 another
scheme under the operation of which,
(ifit oan.be made Law, will enable
capitalists TO escape their just proportion
of the public characterization. This
schsms is Co repeal the Law under
which deductions for indebtedness are
now allowed to be made from an
individuals assessment or total am-
cunt OF taxable property. This scheme
Is equally Objectionable with that
which would repeal the mortgage tax
law and allow credits to go untaxed.
II would be Objectionable because IL
would subject great deal of property
to double taxation. It would destroy
that equality of taxation which our
constitution so iwperlously enjolns.
It would greatly retard trade and
commerce In that Il would discourage
the creation of those temporary In
debtednesses which business men 20
often flud convenient and advanta-
seous. The oregoaian Is the leader
and expounder Of the principles OF
this scheme, as Il was the leader In
the movement to repeal the mort
gage tax law. Not even the money
lender himself was more greatly dis
appointed at the decision Of our Su-
preme Court than was that paper. As
Q matter Of hard truth there was no
ground to believe that the Supreme
Court, after due and mature deliber-
alton, would find the law inconslst-
ent with the constitution OF ths COM
monwealth, and yet so great was the
surprise to the Oregoniaa that II re-
quired three or four days for It to re-
cover sufficiently to give the decision
editorial notice. The OregOHian has
. most unfortunate way Of Of always
ranging itself along side Of capital in
all OF Its contests with labor. It thus
causes ali Of its proposed measures
Of legislation TO be looked upon with
. greater or less degree Of suspicion
This scheme OF not allowing any de.
deductions for Indebtedness would
result In a great deal OF double assess
ment and consequent double taxa.
tion, and this double taxation would
almost uniformly fall upon those who
are least able TO bear up under such
double burdens. It would fall upor
the poor and those Of moderate
means who are often compelled to In
Icur indebtedness or sacrifice whal
little property they have to the "a
pacity of heartless creditor. After
all the time and talent spent by news
papers and others In theorizing anC
Philosophizing upon the subject of tax
alton, We are in every instance driver
back to the proposition, that all kind
OF property, whether lands, mortgages
money, credits, ETC., should ali alike
be made TO bear their equal proper
ton Of taxation, that mortgage
should be taxed in the counties wher'
recorded, that all property including
lands should be assessed at It's tru'
value, that deductions should be al
lowed for Indebtedness as now provid
ed for. Tho Only real cause o: com
plant under our present system lie
in the fact of under valuation. 1t 4
alleged by those who have urged the
repeal Of the mortgage tax law tina
while mortgages are assessed, as 9
rule, at their nominal value, land:
have been assessed at from one-hal
10 three .fourths their real value. Al
to mortgages, we believe this Is gen.
errally true, though It Is said that IL
Multnomah county mortgages arr
assessed at from one-half to three
fourths of their value. In othel
counties so far as we know they ART
assessed at their full value. AS to land
candor compes US to say that accord
ing to the best information which W,
have on the subject, It Is not assessed
as high as Is should be. Many farm
in the Willamette valley are sssesset
at not more than half their value
/ This Is evidently true as to other por
tions Of the state, while In Portland
real estate Is often assessed as low a
one-6fth Of its value. ALI this uude
l-valuation Is a just and seriou
cause Of complaint on the part o
those who have property assessed q
It's full value. The money lende
must consent TO have all his prspert,
assessed, and the land owner mus
consent that his land shall be assesse'
lat its full value. We must all com
to this common ground before tn
subjest of taxation can bs satisfactorl!
adjusted.