Smyrna times., 1892-12-14

the Senate it is pretty certain tha
Senators Pilling, McMullin, Williams
Ross, Houston and Watson would b,
opposed to the bill. Such a measur,
Is not likely to get vote in the Sen
ate.
Democrats declare that the passage
,+' . go stiJnk nlI would rain the
party ia she TWO lower counties, where
the members of the Legislature are
very close to the people and mostly
church members.
The question of the judiciary is also
being discussed, but in hazy manner.
NO plan is suggested, but the judiciary
Will probably come in for much
thought among the legislators.
Senator Gray will be elected with
out opposition, according to the pres
snt programme.
The EUery Evening evidently looks on
the Taxation of Investments as the
question nthat will tax the time and at
tention of the legislators, which is dis.
cussed in a late issue, in an editorial
over a column in length. 1t states it
thus:
The indications are that some legis-
latlon taxing investments will be pres
sed with indefatigable vehemence
before the approaching General Assem-
bly,. This may be looked for as mat
ter of course. A long and very deter.
mined effort in this direction was made
tV years ago, resulting finally in the
reference of the subject to a Commission
to examine and report. What this
commission may recommend, can of
course, be merely matter of coniec-
ture at this time. But the subject is
one of very great interest 10 the 65. 600
people of Wilmington, who are repre-
sented in the Legislature by two mem.
bers out of thirty.
ms IS not in any just sense Ques-
tlon OF politics. Were the forthcoming
Legislature Republican instead of Dem.
oeratic, this is subject that would
have come up in about the same wav
that It may be expected to come upE
with the majority of the members from
the rural districts predispOsed in favor
OF the taxation of mortgages, stocks.
bonds and other evidences of indeht.
edness or investment, but which an.
pear to them as evidences of taxable
wealth. The determination TO impose
such taxation is rooted in the average
farmers firm belief that he paws more
than his share of the public burden
On the other hand, the average vii.
mlngtonian finds his county tax so
small matter in comparison with his
city taxes, that he can with difficulty
comprehend the rural feeling in the
premises.
70 illustrate: We have right at
hand city and county tax bills. luckily
receipted ones, covering precisely the
same properties. The CITY taxes foot
up $lOS.77; the county taxes, $50 6S
In addition. there is CITY charge of
S25 for water lent. The farmer. uDon
the same assessment, would paw the
county tax of $35.68, plus school tax
and road tax, which would probably |
not much exceed this charge for water
rent. Having no OVershadowing mu-
nlcipal tax to pay, he feels these cOun.
" taxes as grievOus burden where
as the average city property holder,
alter he has managed to get his big |
municipal tax bill liquidated, looks |
upon his county tax as a small affair in
comparison.
After stating the general result in
such cases, that capital will seek the
best markets, viz. where it will have
he least encumbrance, the editor gives
expression to the following opinion:
AS to the main question, we think
t conclusively demOnstrable, as an
axiom of finance, that whatever tax
may be imposed upon mortgages, under
whatever provision of law, must be
paid in the end, in some way, by the
needy borrower, with an added bonus
or the risk taken, or he will not get
he money.