The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1892-03-18
A New Assessment and the Taxation of
Mortgages.

This being business meeting no topic for dis
cussion had been selected, but in view of the
assessment bill before the Legislature and the
extreme Importance of its passage, it was de-
cided to select the proposed law as subject.
The discussion was opened by MIR. John
Moores, who said that so far as the land is con-
cerned there is no trouble. 1t is all taxed
The question is how to reach personal prop
erty, of which, undoubtedly, great deal es-
capes taxation altogether, from the failure of
the Tax Collector to do his duty. He should
assess the live stock every year, and should
notice, especially, whether the personal prop
erty of the taxpayer is increased or decreased.
With regard to the taxation of mortgages, Mr..
Moores was uncertain. The only tangible arti-
Gle of value in connection with the mortgage
is the land that is mortgaged. The mortgage
itself might be called mere shadow.
A member remarked that it is a shadow on
the farmer.
solution of the problem is an income tax. In
conclusion, he recommended that the railroads
be taxed for all they are worth.
i observed, when the mortgage tax was re-
pealed, that there was great rejoicing among
farmers whose lands were mOrtgaged and who
were paying both on their lands and on the
mortgages. 1t might easily occur, if a mort
gage tax were imposed, that the mortgagor,
being unable to pay, from the depreciation OF
farm products, that the mortgage would have
to take the property for his mortgage. Then
he would be in the condition of having both
farm and mortgage on his hands, and both liza
Mr.. James w. Hanna was uncertain whether
mortgages should be taxed or not. If the
lender could be made to bear the burden he
would favor it, but in nine cases out of ten the
borrower would have to pay the tax.
Mr.. X. Harris Archer said that according to
the Bill of Rights every man must be taxed &C
cording to his actual worth, and that if this be
so he could not see why mortgages should be
exempt. AT one time he did not favor their
taxation, but now it would not be any trouble
to borrow money even if the mortgagee were
compelled to bear his just share of the burden.
In regard to the taxation of personal property,
there is a great leak somewhere. Too much of
PRe would aT the tRe s
ing system; have every man return to the
Commissioners once year a list of all his per-
sonal property, and have penalties imposed
for the proper enforcement of the law.
Mr.. Bennett HI. Barnes favored u new assess
ment, as it will not be possible to equalize tax
alton in any other way. When he was Tax
Collector he assessed ali property which came
in his way; but when man pays taxes to the
collector he is supposed to be properly as
sessed, and the collectors books do not show
what his assessment consists of. He was not
in favor of listing, as it would give the clerk
an endless amount of trouble, and would re-
suit in no material benefit. He was not in
favor of taxing mortgages.
Mr.. ID. g. Wharton Smith said no law relat-
ing to the taxation OF mortgages could be
made to apply to the existing liens, but the
proper solution of the question would be to
give notice of a certain date after which time
all mortgages would be taxed. Corporations,
such as railroads, do not pay their fair pro-
portion of taxes. This the Legislature should
look after. In regard to personal property es-
Gaping taxation, he said that the fault is
largely chargeable to the collectors, and he
considered the letting out the taxes to the low
est bidders a bad idea. The County Commits
sioners know what would be fair compensa-
ton for a collector, and they should be au-
thorized to select for the position men who are
fitted and suitable, both by character and
business ability, and let these collectors exer-
else more vigilance in ascertalning exactly
what each individual has. Let there be Il re-
assessment and all personal property be prop
erly taxed.
Mr. Moores here suggested that the remarks
of Mr.. Smith in regard to the qualifications of
a collector were good, and he thought the COM
missioners should have the right to appoint
men of discretion to this important position.
Mr.. Thomas Lochary thought that farmers
could get all the money they needed at per
cent, and if it were properly managed he did
see how taxing mortgages would create, as
had been suggested, any scarcity of capital.
Mr. John b. Wysong was in favor of new
assessment. There is undoubtedly vast
amount of property which is not reached
Hartford county is certainly not going back
wards. She is richer in personal property to-
day than ten years ago, and yet the assessable
basis is decreasing every year. A new assess
ment would reduce the land, but that would be
more than made up in personal property. The
point is to equalize taxation. Railroads are
not paying their proper proportion, and a
much larger revenue could be derived from
them if they were properly taxed. As to the
OF mortgages, ne Qlu not UNlnk
practicable, as it might drive away capital. As
sessments should take place every five or ten
years.. 1t might be a good thing to exempt
manufactures for limited period.
Mr. w. ID. Lee was in favor of reassess-
ment, as he thought large amount of per-
sonal property was altogether escaping taxa
ton. Railroads, especially, should be brought
within the proper bounds of the assessment
law. He was not properly informed on the
taxation OF mortgages, but from his under
DnFSOnS favor
Mr.. L. 2. Moores did not think land should
be compelled to pay all the taxes. Some one
should be smart enough to devise plan which
would tax mortgages, and it would be better
for some to pay twice than the rich not at all.
There should be a reassessment, and railroads
should be made to pay in the same proportion
as private taxpayers. They compel every one
to measure up to the strict letter of their rules,
and they should be dealt with accordingly. He
was not in favor of eXempting manufacturing
plants, as taxation, if equitable, would not
prevent their locating at any place at which
they desired. He agreed with Mr.. Smith
in regard to the qualifications of tax col
lectors, but was opposed to the present bill,
which allows the commissioners to accept
trust companies as surety on collectors bonds.
county. People should not be compelled to
risk their homes for other peoples honesty.
In these views Messrs. Archer, Lee and Wy
song cOncurred.
Mr.. James F. Keply was decidedly in favor
of a new assessment. Taxation should be
equalized and every man pay his just share.
as to reach all the property in the State. He
favored the taxation of mortgages. People as
a rule prefer to invest money near home, and
it would not drive capital away. There is no
safe investment which yields so large an inter-
est as mortgages, Something is radically
wrong now, as farmers bear more than their
just share of taxation. They ought to or
ganZe.
Mr.. Smith suggested that one reason for the
indspostion OF farmers to organize is because
of bad roads, which operate to prevent them
from assembling together frequently.
The annual election of officers was held, Mr..
d. C. Wharton Smith, of Darlington, being
chosen President, and Mr.. r. Harris Archer
Secretary and Treasurer.
The next meeting of the club will be held at
the residence of the President.
East Hartford Circuit. NJ. e. Church
The report of the East Hartford Circuit, Bal
timore Conference NJ. Z. Church, for the year
ending March 2, 1892, is as follows:
DEAR BROTHERS AND SISTERS: You are to
be congratulated on the success of the past
year, and, in submitting this report, allow me
to urge upon you the necessity of maintaining
the position you have reached, and, if possible,
to advance along all lines during the coming
year.
Number of conversions. ............. 100
Ar,.a - .V.NEl. aims,