The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1889-08-09
TO TAXPAYERS.
, and Imtelligenorr.

For The .EglS and lnclligencCr
| have said that was opposed to the taxation Of
mortgages as question by itself, while want
everybody to pay taxes according 10 his actual
worth In real and personal property But have
not said was opposed to the owners of mortgages
paying taxes according to their actual worth in
property.
oppose taxing mort cages, as a naked question.
because most Of the mortgages in this state are So
written that II they are taxed, the borrower has
to pay 1t. because he has agreed in the mortgage To
do So The clause in Il mortgage that comprS the
this way "And the said John Jones hereby Govern
ants to pay all taxes and public dues that may be
isy i on tins morlEaTe or on The dsRt secured by
mandablc.' So If you tax the mortgage, or the
debt the borrower will he worse of than he was
before. Because If h. has bought home for 5000
and paid $1,000 on II, he is made 10 pay only five
times as much tax AS he owes hut if You taN the
mortgage, or the debt he pays ON the value Of the
amounting to 5000, making SoO0. aud he will pay
nine times as much as he owns which is only the
5000 he has paid on the land.
This won't do, therefore. So in the bill which
got passed in the Senate in lSI | taxed another
thing-a thing that the borrower had not agreed 10
pay the taN on, and that WAS the power To enforce
the payment OF the mortgage debt and 1t was done
rs follows:
section s. And he ii enacted. that at the same
time, and by the SAME authorities that now levy
taxes in this State there shall hereafter he levied
stamp tax, to he known as and styled The In
fOrccmcnt Tax which shall he levied upon the
power to enforce the payment OF all mortgages in
This State and upon the power To enforce the pay
mput nf all nnnuitipS fins State which the lax
nf this state mrnyidrs far The nyyuers nf nj, u,,,r
rnS@s and nil dnnnitirS and without which 1,rnyi.
Sims If law iheir mortTa,,.s And anumiii's womlJ
he valnrrss and thr si,I ruturrrnrmi TAX shall In,
The same m amnumi and i'm u,rc,Ii,,. nu each nn,.
hrnIrrI ,nllnrs nj the snm secured Iy uuy iunrt.
vac, in mis- STATE ms if ihc said enforcement tly
was levied unnn thr mortpnr. or unun thr delft
Itself and I'M. Said tax IN ths I, r Ia enforce, The
naymrmt Of anumtirS ar Ia rr.rnirr Iuon the lands
mi; nr"n,isrs umnu witch thr said lnnuitirs shall
il" a 1rn shall H. The same in amount and in n,r
ceniarr npnn each one hundred dollars OF thr SIM
which, ~ rulatrI nj 4 urr cent rcr wear would Weld
In onr yrnr the gmonIt nf said ,nniJitv AZ is levied
at TN. same him" unnn cnch sim wnrIh nf nrnnrrtv
IN the c",mtv mr cfy in ,vhicI The sud ,pn,v i
srr,IrrL AID ns if iIr Saln,. v;,s Il led man ir
wro,IuL md imnroyrnr.nfs Which .rrurr If and
r |rrt,,iit snn, Is srr,ir, Ia H.. ,liI ~ .u,uti,s
mr." sermr"i +" he naiL nj any rrrmrrnS r~rinIs nj
imr tI,. ,,,f'r,,ut INV Sli .,,r,il Ia iL,. rnvrr
tn"nir,. thr s,iI n"rn,irli sumi IN ihr same man,
n,r Az II lin. s,,iI Su, ,N,, In Inc Mil nj r,,nIs nn
v,,, n,rt and in s,,rh cas-, thI 'nfHtrrnir,t r',y
shail ~ h.i irJ NM, lin. n,y, ,,'fr,, in .
in The same, rr%rrss rs if The ,;..i sum We're, ,,,
and m,,.,lr a. u,riuds ana, y,.,r, ,n.rt a.. ,r,yrI
il, Ink !,rt ~