The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1893-01-20

for the .isht to sen his debtors property for
tracted for Is the right to dispense with an sp-
| praissment, otherwise to be had, to compel the
| realization Of = specific sum.
waiver Of the right To establish q mini
mum selling price Is not the waiver Of right
! to insist upon An adequate selling price. Such
measure e herein suggested was passed by
one OF the legislative houses At its last session.
and one of similar character originating In the
other house Was passed py Il. but being taken
under Reconsideration. FAILED Of enactment
Under this head l would also suggest that
the gold clause In mortgages and securities
should be absolutely prohibited Either gold.
made legal tender for all obligations in Kansas.
AN taxation Is necessarily burdensome. and
| should be imposed a. lightly IS Ii consistent
with efficient public service and rood govern
ment. That system OF taxation 10 best that
shall distribute most equally tho necessary
70 bear them and tho measure Of protection
they receive from them. One class OF property
should not be taxed while another class
escapes. 1t IS true in this state. and perhaps
In all others, that . large proportion of per
SOnAl property escapes taxation and its owner
thus shirks his share of the public burden.
1t Is difficult to see any justice In = law which
taxes the owner of real estate and allows the
holder Of mortgage. whether residing In this
or another state. To hold q mortgage on IL and
escape untaxed: and this. too. when these I'M
taxed mortgages may invoke the aid of our
courts to enforce payment and thus add
estate encountered with mortgage should be
taxed less than its value In proportion to the
amount of the debt resting thereon: the hold
ers OF mortgages should be subjected to their
prODOfttO0 q
Section four a. OF article thirteen 13 of the
constitution of Call iOrnia is said to offer sat-
isfaetory remedy for this double taxation. and
"SECTIoN 4. A mortgage. deed Of trust, con-
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
terest In the property affected thereby. Ex-
cept as to railroad and other quasi public
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 shalt be assessed
&nd taxed to the owner thereof, In the county.
city or district In which the property affected
be 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 80
levied upon the property affected thereby
shall become \ part of the debt so secured IL
levied upon such s seoprty it shall Sonstitn tat
payment thereon, and to the extent of such
payment y full discharge thereof; Prorided.
be paid by any such debtor or debtors. after
assessment and before the tax levy, the
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 excess
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
becomes older and Its population denser. PeO-
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 "a 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 is be-
!ieved that reduction could safely be made In
Kansas
Rates of Interest.
The attention of the legislature is especially
called to the open violation of existing statutes
and to the merciless abuses SO often practiced
upon those who are under the pressing necessity
of procuring money on short-time loans from
greedy brokers. The present legal rate OF III per
cent. interest is considered ample by all banks
and bankers of good business standing, is
there any widespread complaint among borrow
ers of money on any bankable time of thirty,
sixty or ninety days, relative to such a rate Tor
loans.
But there exists a wel-founded complaint that
the existing law is violated and cunningly
avoided by a class of brokers at most OF our
money centers. Hence financial disasters to
many a helpless borrower. The borrower Ii
often compelled to deposit an excessive amount
of collaterals. to fortify the extortion of unlaw
full interest and bonus charged SO that ne may
finally become utterly hel less Personal prop
erty that would be exempt from levy, and ought
to remain unincumbered for the benefit and
proper protection Of household is too often
swept from the grasp of a cOnfldIng wife and
innocent children. It would b. but a proper
penalty for these usuriOus lOaners of money to
legally forfeit both pri ncipal and interest, for
receiving either directly or indirectly AN amount
of interest greater than the law provides; and L
would further suggest that prudent and wise leg
islation might regard such violation OF law as a
misdemeanor.
The Worlds Fair.
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
necessary appropriations for the same should
be made.
would suggest that a 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.
State Banks.
The last legislature In its closing hours passed
an enactment on banks, which i regard defec-
tive in some Of its provisions. 1t has occurred
to me that section "A of chapter % of the session
laws of 1891, in providing fees for the sxamina-
ton of banks, puts them too high; and that sec
ton 49, 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 a daily newspaper OF general Cir
culation, published in the city where the bank
is located" makes the advertisement unduly ex-
pensive to the bank Publishing the same, when
it's insertion in a weekly newspaper Of general
circulation might as we'll 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, as the present force - Insufficient.
State House and Grounds.
The unfinished condition Of the state house
necessarily suggests that the legislature should
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.
eral interest of the state. Whether the
legislature should provide at the present see-
sion for the immediate completion of the capitol.
or whether provision should be made to complete
and furnish only those portions OF the buildinG
that seem 70 be most needed at the present time