The advocate and Topeka tribune., 1893-01-18
GOVERNORS MESSAGE.
(COnttnued from page 81

reads as follows: 80,
tract. or other obligation by which debt is
secured, SHALL for the purpose OF assessment
and taxation, be deemed and treated as an In
terest In the property affected thereby. Elk
cept as to railroad and other quasi pupuc
corporations, In case of debts so secured, the
value Of the property affected by such mort
gaRe deed of trust, contract, or Obligation less
the value of such security, shall be assessed
and taxed to the owner OF the properly, Ano
the value of such security shall be assessed
and taxed to the owner thereof, In the county;
city or district In which the property anecGed
thereby Is situated. The taxes so levied snail
be q lien upon the property and security, and
may be paid by either party TO snch seonrIty,
levied upon the property affected thereby
shall become part of the debt so secured. Al
the owner of the property shall pay the tax so
levied upon such security, It shall constitute
payment thereon, and to the extent OF Sucn
payment full discharge thereof; PTOUtded,
That IL any such security or Indebtedness shall
be paid by any such debtor or debtors, atter
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"
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 1t Is pc
lleved that the necessity for penalties and Tor
high rates of interest passes away as the state
becomes older and It's population denser. Peo-
ple do not allow their taxes to become delln-
Quent from choice, but from necessity. 10
Impose upon such unfortunate persons penal
ties Of 15 per cent. before sale and IA per cent.
per annun 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 lmperiling their revenue,and 1t Is be-
lieVed 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 80 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 10 per
cent. interest Is considered ample by all banks
and bankers of good business standing, nor is
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,
Bat there exists a well-founded complaint that
the existing law is violated and cunningly
avoided by class of brokers at most OF our
money centers. Hence financial disasters to
many helpless borrower. The borrower is
often compelled to deposit an excessive amount
of COllaterals TO fortify the eXtOftlon OF unlaW-
full interest and bonus charged so that he may
nnally become uLUeFly nelplebSs fbTsOnhl pEOp-
erty that would be exempt from levy, and ought
to remain unincumbered for the benefit and
proper protection OF household, ls too often
swept from the grasp OF ,conhdlng wife and
innocent children. 1t would be but q 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 prOvidesi and
would further suggest that prudent and wise leg
islatlOn might regard such violation OF law as
The Worlds Fair.
After q proper examination of vouchers and
all Just expenditures incurred in conducting
the Office of the Worlds Columbian Expo
sltion," 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 It's closing hours passed
an enactment on banks, which 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 examina-
tlon of banks, puts them too high; and that sec
tion 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
Ia located, makes the advertisement unduly ex-
pensive to the bank publishing the same, when
It's insertion in weekly newspaper of general
circulation might as we'll suffice. This act
might properly come under general review, 80
that any needful amendments to the same might
be enacted. If thorough supervision of these
banks Is desired it may be important TO author
iEe the chief examiner to increase the number
OF deputies, as the present force is 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.