Evening capital journal. (Salem, Or.) 1888-1893, 1890-09-30
Taxpayer on Proposed Legislation.

y
No. III that you have quoted sever
al of our State papers in reference
to needed legislation to be had ut
our next legislature. | agree with
the authors aud yourself that there
is a great need of change in many
of the laws OF Oregon. But some
of the changes asked for I don't
agree with. shall Use what little
influence have to prevent the re-
peal of what is known as the mort
gage tax law. In my opinion it is
one OF the most beneficial enact
ments that has passed the legislature
of Oregon for many years. The
reason Tor that law was that many
persons and companies had been in
the habit of evening taxes 10y send
ing their mortgages and notes out of
the country or state until the assess
ment was made, then they would
have them returned TO them. This
was the case with almost all
foreign interpretations doing a lean
ing business in this state at the
time of the passage OF the mortgag,
tax law. | remember well thai
those companies, and all other mon
ey-leuders IN the state were the first
to complain at the passage of said
law, and therefore conclude to us,
a homely phrase, rs Sam Jones
would say, the UPPER dog in the taA
fight had got hit and squealed A.
soon as this vital point had been
hit. 1t is well known oy all per
sons that have kept themselves al
all posted that the intention of the
legislature which enacted this
measure was to aid the middle ana
working class of tax payers whU
did not complain at the passage OF
this act at the time of its passage,
nor have they since, and, so far a
we know, are well pleased with it,
effect in causing many instruments
of writing and mortgages to be
swiftly hunted upand p!ac> d on tn.
tax roll, where they are to-day pay
ing their regular proportion of the
state, county, city, school and road
f..zY Ia. 4
er point in this law that has been
objected to, and that is this: 1t is
claimed 10y the moneyed part of our
community that mortgages are not
taxed on an equal basis with other
property. In answer To this asser-
ton l will say that mortgages fare
much better than notes and money
for the reason that they are to be
considered land for the purpose OF
taxation, and are therefore entitled
TO be assessed at the SAME figure
that the land is assessed on which
the mortgage is given. But money,
notes and accounts have to lie as.
sessed at their intrinsic value. And
consequently if anyone has right
TO kick, il is the man VINO owns
money, notes and accounts that are
assessable rs personal property.
There is another question that is
receiving some notice just now, that
calls forth individual attention, and
that is whether a man should be
allowed to deduct his Indebtedness
from his assessment or not. III
answer to this l will say that our
constitution and laws and decisions
Of our courts all hold that nothing
but equal and just taxation shall he
allowed. Now, | would ask all
those persons who favor the repeal
of our law on this question, how
could they reconcile their conclu-
sions with the one above cited, when
this same question has already been
before our courts in one or more
forms, and it always has been de-
clared unconstitutional by our
courts to not allow this exemption
and therefore lily worth the while
of our legislators to spend their
time on such a matter. Our courts
have repeatedly held that to tax
the farm at its full value to one
man while part of it is mortgaged to
another is unequal or double taxa
tion. Let the farm and the mort
gage both be equally taxed, each for
IL interest. IAXPAYEh.