Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1893-01-21

for the right to sen his debeos,s property 5or
trsctsd for is the right TO dispense with - ap-
praisement. Otherwise to be had. TO compel the
| realization OF . specific SUM .,-,-
mum selling price Is not the watver9f right
| to insiss upori an adequate selling prize. su9h
81 re aiaeisistiye honses at it's last session.
| and one of similar character originAlne ~ &c
| Other house was passed by y. but being taken
;ntc Ia becanse of the close Of the session.
Under this head would also suggest that
the gold clause IN mo5sga3gess anT sscg ia
silver or national treasury notes should be
msSe lesai tender for all obligations In Kansas.
Taxation.
Aut,r.t,on "a necessarily burdensone and
| should be imposed as lightly as Is consistent
with efficient public service and good govern
ment. That system OF tsxnSlo9 A. Is pest tnse
burdens on all persons according 70 their ability
| to bear them and the measure OF protection
they receive rom linen I1s clsSs o 81
escsDes It Is true In this state, and perhaps
| In all others, that large proportion or per
scnal properly ESCAPES Fs ~ tSs n ana oTnsr
! This Is especially true OF moneys and credits.
| 1t Is difficult to see any justice In law which
taxes the owner Oh F02l eSC4Io ana 2kIOH4 the
holder of mortgage, whether reading In this
or another state. 10 hold Eaortgage on IL and
escape untaxed: and this, too, when these un-
courts to- snferoe and A thus add
| largely TO the expense OF governments. Real
estate encountered with mortgage should be
taxed less than It's value In proportion to the
amount of the debt resting thereon; the hold
ers of mortgages should be subjected to their
Just proportion of taxes.
Section four % Of article thirteen 19 or the
constitution of California is said to offer sat-
isfactory remedy for this double taxation. and
reads as follows:
tract, or other obligation by which q debt Is
secured, shall, for the purpose OF assessment
and taxation, be deemed and treated as an In
cept as to railroad and other quasi public
corporations, In case OF debts so secured, the
value Of the property affected by such mort
gage, deed of trust, contract, or obligation, less
the value OF such security, shall be assessed
and taxed to the owner Of the property, and
the value of such security shall be assessed
Snd taxed to the owner thereof, In the county,
city or district in which the property affected
thereby Is situated. The taxes so levied shall
be q lien upon the property and security, and
may be paid By either party to such security.
If paid by the owner Of the security, the tax 30
shall become part of the debt so secured. If
the owner of the property shall pay the tax so
levied upon such security, 1t shall constitute
payment thereon, and to the extent or such
payment full discharge thereof; Provided,
That If any such security or Indebtedness shall
be paid by any such debtor or debtors, after
amount of such levy may likewise be retained
by such debtor or debtors, and shall be COM
puted according to tax levy for the preceding
year"
Attention Is also called to the excessive PEN
alties and interest that are charged up against
property delinquent for taxes. These exces-
sive charges are usual and perhaps necessary
in the earlier years of statehood. But IL Is be-
lieved that the necessity for penalties and for
high rates of interest passes away as the state
pie do not allow their taxes to become delin-
Quent from choice, but from necessity. To
impose upon such unfortunate persons penal
ties of Is per cent. before sale and 81 Per cent.
per annum on both original tax and penalty
after sale savors of oppression rather than jus
tice.
Many neighboring states have greatly re-
duced their interest charges in these respects
without imperiling their revenue, and 1t ts be-
lieved that q reduction could safely be made In
Rates of Interest.
The attention of the legislature is especially
called to the open violation of existing statutes
and to the merciless abuses often practiced
upon those who are under the pressing necessity
of procuring money on short-tlme loans rom
greedy brokers. The present legal rate of 10 per
cent. interest is considered ample by all banks
and bankers of good business standing. nor IL
there any widespread complaint among borrow
ers of money on any bankable time Of thirty
sixty or ninety days, relative to such rate for
loans.
But there exists well-founded complaint that
the existing law is violated and cunningly
avoided by a class of brokers at most or our
money centers. Hence financial disasters to
many helpless borrower. The borrower IL
often compelled to deposit an excessive amount
of collaterals to fortify the extortion of unlaw-
full interest and bonus charged so that be may
finally become utterly hel less. Personal prop
erty that would be exempt from levy, and ought
to remain unincumbered for the beneht and
proper protection of a household, is too often
nTNf 0f wwIF nV0G
innocent children. 1t would be but proper
penalty for these usurious loaners OF money to
legally forfeit both principal and interest, for
receiving either directly or indirectly an amount
of interest greater than the law provides; and
would further suggest that prudent and wise leg
islation might regard such violation of law as
misdemeanor.
The Worlds Fair.
After a proper examination of vouchers and
all Just expenditures incurred in conducting
the office Of the Worlds Columbian Expo
sition," those who have advanced money TO
carry on this enterprise should be reimbursed,
and the state should take entire charge OF the
same. Kansas should not be behind her sister
states in the manifestation of proper public
spirit In this great, worldwide enterprise, and
necessary appropriations for the same should
be made.
would suggest that commission be ap-
pointed to represent the interests of the state
In this important matter, and that they be au-.
thorized to take entire charge OF the move
ment.
The last legislature in frs sii1sing hours passed
an enactment on banks, which regard defec-,
tive in some of it's provisions. Il mas occurred
to me tn section "a of chapter Is OF the session;
laws of 1891, in providing fees for the sxamina--
tion of banks, puts them too high; ant that Sec
ton 10, which provides that the official state
ment" of each bank Of its financial condition
(of which at least four reports shall be made
each year, shall be published by such bank for
one week in daily newspaper of general cir
culation, published In the city where the bank
Is located" makes the advertisement unduly ex-f
pensive to the bank publishing the same, when
its insertion in a weekly newspaper of general
circulation might as well suffice. This act
might properly come under general review, 50
that any needful amendments to the same might
be enacted. If thorough supervision Of these
banks Is desired it may be important to author
ize the chief examiner to increase the number
Of deputies, az the present force % insufficient.
State House and Grounds.
The unfinished. condition Of the state house
suggests that the legislature sho1ldl
make suitable provision for the prosecu-
ton of the work on the capitol building,
looking toward its completion at the earliest
day consistent with the public and gen.
srl interest of the state. Whether the
legislature should provide at the present ses-
sion for the immediate completion of the capitol
A~kk. = L. -