Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1891-05-21
WINDING UP THE SESSION
The Investment Taxation Bill
Laid Out.
ALSO THE LOCAL OPTION BILL
The Police Commission Bill
Gets Through.
And So Docs the Citizens Committee
100000 Loan Bill - The Ballot Re-
form Bill and Various Other Measures.

STAFF Correspondence Of Gazette and journal.
Dover, May 13.-"And there went forth
decree from Caesar Augustus that all the
world should be taxedh Bible readers
will know where to find the quotation
But we do not read that Augustus limited
the price at which taxed articles should be
sold, This is where he differed from the
lower House of the Delaware Legislature.
That body, by a vote OF IL to s, this
afternoon decided to tax all Investments
and evidences Of Indebtedness on the same
basis as real and personal property-and
this in the name. of equalizing taxation
When there is the very essence of in
equality in the fact that man can sell his
farm, his horse, his corn, anything and
everything in the shape of real and per-
sonal property at the highest market price,
SO far as the law is concerned, but il he
wants to sell the use of his money the law
steps in and says he shall not ask or take a
higher price than six per cent for it. Re
peal the usury laws and put money on the
same footing as any other article of mer-
chandise and there would then be equity
in taxing investments.
In this bill the following articles are
enumerated as liable to assessment and
taxation on the same basis as real estate I:
All debts secured by or due upon notes (rep-
resenting 800 or norel bonds, mortgages
deeds of trust, JUDGMENTS, decrees. recog-
nizdnces, or otherwise howsoever from solvent
debtors, except debts due for goods sold and
delivered in tho ordinary course of trade by
merchants and for labor performed by ordi-
nary aborers. all stocks shares whether
owned by residents or non-residents and
whether in tn state or out oil the State, by in
diyiduals, copartncrs corpnrators assoGia-
tions OF whatsoever name or kind and whether
held in their own right or In trust for others,
trustees, agents, gnnriians, executors, admin
istrators, attorneys or otherwise; and all
stocks or shares iii any and all
banks, railroads. navigation companies, canal
companies, express companies. telegraph and
panies, gas companies electric light COM
panies and all other companies Of whatsoever
nature or kind. and AL Investments in securi-
ties of the United States, Of any state terri
tory, Of the District of Columbia, Of any city,
town or county thereof except only such as
nre expressly exempt by statute law of this
state or Of the United States or by The judicial
decision Of the courts of last resort having
Jurisdiction Of the subject matter.
Stocks and shares are clearly taxable
under this bill both as the property of n
corporation and as the property Of the
individual holders thereof
Take an illustration therefore OF how
beautifully this will equalize taxation.
Let A, B, q and D form corporation and
invest $25,Q00 each in brickyard and
brick making plant. Then we might have
and plant assessed as realty and personal
property, at BOO, 900 for taxation; secondly,
the corporation assessed on Sl0J,000 of
stock owned by A, r. q and D as corpo-
ration; thirdly, A, b, G and D assessed, as
individuals for $4,000 worth of stock
each. Beautiful system, isn't it2
a transient CLEAN of common sense in
spired somebody to tack one amendment
on the bill in committee as follows: PRO
vided, however that in case Of u loan
which is made at an interest of 5 per cent
or less, the loauer shall have the right TO
stipulate with the borrower for the pay
ment of tax which may be imposed upon
the investment"
ApDIcKs on TOR.
The bill upon which the Speaker of
the Senate, as he gave out week
ago, had fixed Ibis eye Of condemna-
tion," with intent that ii should "be Dona-
heed in the full meaning of the term"
emerged from its place of imprisonment
Yesterday the passage by the House
of a substitute hill-and was duly Dona-
l1oed to-day. In fact, il was doubly Dona-
hoed-Jolin f. Donohoe lieutenant for
Addicks, being the boss who pulled the
wires. The bill was treacherously sprung,
in the absence of Messrs. Williams and
lflling and without being comprehended
by Senator Hall, who cast his vote under
misconception desgnedly gwen
out. 1t was House bill No. Az,
which was reported to have disappeared
last week. Donahoe had "amendedh il by
striking ont all after the enacting clause
and substituting therefor the substance of
House bill 46D which latter refers to every
city, town or village IN the State whereas
House bill 4l2 referred only to the Street
and Sewer Department of Wilmington.
What reasonable objection could be urged
TO the people of any municipality CON
serving, through their duly constituted
authorities, the proper use of their high
ways2 No one who understood the ques-
on, unless he looked through Addicks'
ectacles. Speaker Donahoe failed to turn
;, at the opening of the Senate on Mon
.ay last-tor the first time since the or
ganiZation of this General Assembly.
He came down on the noon train, and the
same train brought J. Edward Addieks
and John r. Donohoe to Dover. Addicks
did not stay long. but his lieutenant, Dom
oboe, was on hand to-day. Some time
ago Boston man who is posted in the
methods of gas stock spectators, made
some remarks bearing on this combina-
tion that would not look well in print.
But House bill i69 is in the Senate now;
Senators Williams and Filling will be in
their seats tomorrow, and senator Hall
has learned the true state of affairs. And
House bill i60, being in the nature of
police regulation, can be passed by five
votes. So that Addcks may yet be check
mated
THE ACADEMY or THE VISITATION.
The House committee on revised statutes
considered, at noon, the bill to repeal the
tax exemption clause Of he charter of the
Academy of the Visitation, and, at his re-
quest, gave Spei kcr Donahoc Il hearing.
Donahoe pleaded that the academy was Il
charitable and religious institution, "iust
the same as church," lie denied at
first that tuition therein was charged for,
but, upon being closely pressed BY Repre-
sentative Smith, was forced to admit that
in some eases tuition was charged for, and
at pretty good rate. MIR. Smith contended
that the legislature might Just as
properly exempt the Friends School
and other pay schools from taxation;
but Donahoe strenu0usly insisted
that other institutions We're altogether
different from the Academy of the Vista
ton. Mr.. Smith further pointed out how
the Senate, only week before last, refused
to exempt the Minquadale Home, purely
charitable establishment, from taxation.
Donahoe dwelt also upon the charge of
rushing through this tax exemption
clause in the closing days of the session.
He pointed out, in rebuttal, that the charter
was passed on March 1fth, 1889, six weeks
before the close of the session. Nobody of
course. disputes this. But it is ineon-
celvable that the charter, at that time,
when measures were deliberately con-
sidered in committees and in the houses,
could have had this exemption clause in
1t and that clause could have escaped I'M
noticed and unchallcngcd and not become
known until after the General Assembly
had adjourned. The committee agreed
unanimously to report the bill favorably
TIN DELINQUENT LAW REPEALED.
The Senate this afternoon concnrred in
tie House bill repeating sections o and 10
OF the assessment act of 1873 This is one
of the most important public acts of the
session, yet IT has been done so quietly as
to scarcely challenge attention. The re-