Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1893-04-27

a
there have not been impressed with the
injustice Of their paying all the taxes 70 |
run the county and schools, except tue
little tax that is derived from live
stock, which, too, comes out OF the
farmer.
Mr.. Dasey--While we may entertain
doubt in regard to this legislation our
selves, arc not the people asking for II |
This taxation will not go into operation |
until 1874. If it works so bad il will !
only be in operation one year and the |
next Legislature can remedy il II we
90 away from here after our promises
on the stump, and 60 home without
doing anything, we viii stay home Tor
a long time.
Mr. Cuoch desired to ask Mr., SauIs-
bury if his objection TO this amendment
was that it would draw money from
Kent ard Sussex into New Castle.
Mr. Saulsbury--lf out of the whole
wide world New Castle county were to
be exempted, and the money that the
citizen lends upon mortgage in New
| Castle county were to he exempted
| from taxation, is il not reasonable to
expect that the money lenders Of Kent
and Sussex will send their money 10
| New Castle? But the strong argument
is, that if this bill is for the benefit OF
the people, would this House be con-
sistent with its public duty in depriying
the people Of New Castle county OF the
benefits accruing therefrom?
Mr.. Cooch--l will answer by saw
ing frankly that, If | considered this
proper and beneficial measure, should
think il applicable to all the counties.
But j do not favor the principle Of tax
ing investments because it has been tried
before, and the borrower in nearly every
case has paid the additional burden.
Money seeks those points where 1t is
most advantageous for it, and where it
is taxed ii can easily take itself wings
and fly away somewhere else. ! think
that will be the result here, or, il it re-
mains among the borrowers, the
borrowers will pay the tax. | notice
that this is contemplated in one Of the
provisions of this bill, tthe clause pro-
I viding that, where money is loaned at
less than per cent, the borrower may
contract to pay the tax, provided the
combined tax and interest shall not eN
ceed G per cent? DO the gentlemen in
Kent suppose that that would not be
brought, directly or indirectly, to the
attention of the borrower and he would
be subject to that tax
Mr.. Saulsbury-l suppose it would
. but that is allowed only where the com.
bined interest and tax do not exceed
six per cent.
Mr.. Dasey-Ths question of equaliz'
ing taxation is not new one. 1t has
been agitated for considerable time
Our predecessors two years ago realized
,, that fact, and, to avoid it, the only thing
they could do was to appoint a tax com
mission. The commission has beer
. established and has made q report
. Could we think of going away from
here and avoiding that? 1t is u condi
, ton and not theory that confronts us
The only thing for us to do is TO pas
i the hest bill we can, and if it operate
= badly, the people will only have them
!. selves to blame.
Mr.. Cooch--I am informed that there
= is gentleman now negotiating TO
y $25O,OO0 to be divided into about 81
loans. If that money is to be brough
! here subject to taxation it will not b
= brought into the State. ! have takel
II some pains to acquaiut myself with til
= opinions of those people who are to b
y benefited, or supposed TO be benefited
= by the operation Of this law. lind tina
u the people in our county vino desir
taxation of bonds and mortgages,
7. think without II single exception, ar
y people who own their farms an
I do not owe any money. hay
T. then gone among other classe
4 Of men, and have said to men who ar
Il involved considerably-do you wan
l. this law :---and | have not found
/ single person in that condition who ha
- not thought il would do great injustic
= !, to him il that tax were imposed. lthin
4 it will drive capital out OF the State.
~ don't think this would be wise; l thin
X il would be extremely injudicious; ant
! representing as | do New Castle count
: in part, think my fellow members wi
bear me out in saying that the peopl
= who are bearing the burdens of Me-
- Castle county are utterly opposed
"a Icing burdened more. | trust Ne'
"a Castle county will at least be left out {
IL, this bill.
Is MI Hall Believing, as do, in til
a system Of taxation being just and righ
,e think the whole State should receiS
,g the benefit The benefit will be mutut
Il. and therefore we should not eXcluC
81 any county from the benefit Of this bill
rs Mr.. Cooch-- Understand me, am NJ
Is speaking for New Castle county alon
~ do not think it wise to pass this bi
for amy Of the counties.
M Mr. Brian-Ihere seems TO be a CT
that we don't understand this questio
er That is cry that will continue the +
hr mainder Of the term. No man ever wi
o. understand it. But Kent and SussC
az are almost universally asking for thl
i'll consequently IT, leaves only n small no