Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1894-02-09

drawn, which was done, the author
explaining that he had ollorcd II out oi
respect 10 tbs chair.
II. II, IL, Johuson's hill TO tax mort.
cages anu trust deeds, CANT up a.
special order At O'Clock. Tue author
explained that tnu bill Jid not provide
Tor double taxation, No the oncum-
6thuce was deemed apart Of the realty.
10 further explained the provisions Of
the ill, but said he would not discuss
~ length the policy Of passing such
logiilaiion. The House, by passing
similar bill yesterday, had defined it,
position on the questiUu Of policy. All
property In the commonwealth should
10 taxed 10 support tue government
Ho doniei that the bill, 10 Passed.
would either prevent foreign capital
from comm here or scare out what
was alfcAuy here. lie also denied that
the enactment Of the law u 1879, cx.
Guiding mortgage from taxation, had
been followed ~ al influN Of foreign
capital 49, great o. that which came
here In the two years previous while
mortgages were taxed. Neither had
tic fate " Interest been increased.
Inc speaker made lengthy nfgu.
mont in favor OF the bill, when Stau.
ford moved the previous question,
which was put and losi, The hOu
being evidently dcsifous of haviag tho
measure FULLY considered.
Hubbard thought II singular thnt the
judiciary committee should have ~.
v0fably reported two bills ON tho subject
Of taxing mortgages Or debts secured
by them. lie cfl.iuisod tho prOyi5lDns
Of the bill and iis general object.
Allen said the principles underlying
the question 10 which this bill relates
had uvun fully discussed Ia tho House
He showed from tho assessments Of
several years past that tue nm0uut OF
personal property assessed IL tuls Fer.
fitofy had dropped about ton million
dollars since the law OF 1870 was
pAalu q, excepting from taxation notes
secured b. real estate. Hoopi oscd the
clause dtductiug tue amount VI realty
if0in tbs Assessed value of the property.
Tho Injustice OF oxomptiug capital
from taxation goes 10 tho hearts Of the
people, aud IL "A great cause Of the
prevailing dstfusi. There was
nothing IA toe cry that capital
would be- frightened by the pas.
sage Of this bill. Hu deprecated
the idea that tho present was not "a
opporiuno time for such legislation,
aud spyke with much warmth Ia al.
yooaoy VI the bin.
Tolt0n criticised the action Of tho
Judiciary committee, In IT, mauipula-
ton Of the two bills relating 10 taxing
mortgage debts. All the property
owned by "a poor man was easily found
~ the assessor, and taxed; Out the
property OF the rich man could be
Invested ia such a form ~ u he
screened from taxation. Al property
should BIO taxed alike. The bin that
was passed yesterday was halfA loaf
~ We eau make n law Of this, We shall
have a whole loaf.
Warner said that TOUR or i've years
ago Utah became heavy borrower Of
eastern money, and Il WIS not now an
0ppOrtuuo tune 90 tax the mortgages
gwen Tor II. lie would discriminate
IN favor VI eastern capital that far.
Clark made a speech In favor
OF the bill, and urre1 that the present
law was unjust. tic favored J0hns0nis
bill rather than Naflan's, aud believed
thn present wGs an oppofIuuo time 10
pass it.
Moore argued briefly against the bin,
ana WINS followed IA opposition 10 it.
The latter thought II would bo unwiac,
under the critical financial conditions
now prevailing, TO pass "a sweeping law
taxing all mortgages on record In this
Territory. He voted for NafiAn's bin,
but thought that measure was a happy
medium aud went far enough. lie
should vote against THIS bill.
johnson closed the debate In a brief
argu nent, when the friends OF tho bill,
led by Alton, foreseeing Ito defeat "
pressed 10 n final vote, ptuClpiiated a
parliamentary fight for the purpose OF
postponing the hnal vote. They were
unsuccossiul, however, AS thu oppl-
nonis Of tho oil Insisted on disposing Of
u Immediately. IL was lost By vote
VI - 100.