Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1893-01-26

Tor tho right to sell his debtors property for
an lnsulnclent sum, The most he has con-
traGted for Is the right TO dispense with an APP
praisement, otherwise TO be- had, TO compel the
realization OF specific sum.
waiver OF the right 20 establish mini
mum selling price ia not the waiver OF d right
TO insist upon an adequate selling price, Such
measure az herein suggested was passed by
one or the legislative houses at It's lagt session.
ana one OF similar character originating In the
Other mousse was passed by 70, but being taken
under reconsideration, failed OF enactment
INFO law, because or the close OF tho session,
Under This head l would also suggest that
should be absolutely prohibited Either gold,
silver or national treasury notes should be
made legal tender for all obligations In Kansas.
Taxation.
ALI taxation Is necessarily burdensome, and
should be imposed rs lightly AZ is consistent
with efficient public service and good govern
ment. That system OF taxation ID best that
shall distribute most equally the necessary
burdens on all persons according 10 their ability
70 bear them and tho measure OF protection
they receive from them. One class OF property
should not be taxed while another diass
escapes, IL Is true In this state, and perhaps
In all others, that large proportion of per-
sonal property escapes taxation, and Its owner
thus ahirks his share of the public burden.
This 10 especially true or moneys and credits.
IL Is difficult 10 see any Justice In law which
taxes the owner of real estate and allows the
holder of mortgage, whether residing Ia this
or another state, 10 hold a mortgage on It and
escape untaxed; and this, too, when these un-
taxed mortgages may Invoke tho aid of our
courts TO enforce payment, and thus add
largely TO the expense OF government. Real
estate encumbered with mortgage should be
Taxed less Than lts value IN proportion TO the
amount OF the debt resting thereon the hold
ers or mortgages should be subjected to their
Just proportion Of taxes
Section four ~ Of article thirteen tl0 of the
constitution of California Is said TO offer a SAT-
i81ACtOFY remedy for this 0OuDIa tnXltiOn and
reads as follows:
"sEoTIoN 4. A mortgage, deed of trust, con-
tract, or other obligation by which n 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.
oept as TO railroad and other quasi public
corporations, In case OF debts 80 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 BIO assessed
and taxed to the owner thereof, In the county,
city or district In which the property affected
thereby Is situated, The taxes 80 leVied shall
be lien upon the property and security, and
If paid by the owner OF the security, the tax so
shall become part of the debt 30 secured. II
the owner Of the property shall pay the tax so
levied upon such security, II shall constitute q
payment thereon, and to the extent of such
That If any such security or indebtedness shall
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 1t Is be-
leved 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 10 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 neighborlng states have greatly re-
dueed their interest charges In these respects
without imperiling 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 mercless abuses 80 often praoticed
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.
But there exists wel-founded complaint that
the. existing law is violated and cunninGly
avoided by class of brokers at most Of on 9h
money centers. Hence financial disasters y
many a helpless borrower. The borrower J 1l
often compelled to deposit an excessive amour
of colaterals, to fortify the extortion of ,unlaN
full interest and bonus charged 80 that he ma
finally become utterly helpless Personal proV
I..u NV,H pTrhH
to remain unincumbered for the benefit and
proper protection Of household, is too often
swept from the grasp OF conhdlng wife and
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 a
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
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 APP
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 detec,s
tive in some of its provisions. 1t has occurred
to me that section "a of chapter IS of the session
laws of 1891, in providing fees for the examina-
ton of banks, puts them too high; and 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
ia located, " makes the advertisement unduly ex-
pensive to the bank publishing the same, when
its insertion in a weekly newspaper OF general
circulation might as well suffice, This act
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 is insufficient.
State House and Grounds.
The unfinished condition Of the state house
necessarily suggests that the legislature should
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 to be most needed at the present time
is q question which the legislature should care
fully consider, and such legislation should be
had in the premises as may be necessary. Your
attention Is also called to the condition of the
state house grounds Under the laws of the
state the executive council have the charge, care,
MANAGEMENT of the state house and the state
nj tha