Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-04-17

MORTGAGE CONTEST

t.or rcrtonal property ehal
elmer i.v.pi unless reduction
never W 5ns amount Of such moi 4AHs
tqlai' .,,tp In the atsrfto value VI
.ua ,,Sprrty covered thtI,uyi ..,,so,
tne lIoi..'t1 A the motion hhd NOT uoou
lNlu, ayothsr he himself Nuu'u
malo .,.ts a. lie taid u the TO-
baNe ..,e allowed 20 10 lnlo tue
vhOn ,,,,i,p it vudlI uD Rs dlHltItyus
Cons".u late ~ tho demoncuLllnn
% 'ne ~ bsd been 10 the UIilcd stA'es'
q. Nl'gi 1fteXatiOu b. entirely just
H.t systtm was ih1t whlch
iN' IsII Ir1lttty except tNnt when
.,li f5f charitable purpysuf' y"
va W., snnuld be- maize 90 THIS RUE
,,.,s -.,,p tue revenue mual ut
~ wv gIer 40 much us 10 hal Lttu
81 territorial c1udilionr' ....,.
uuu't 80 p die fret onslaught Whs maut
..,.,g,y ur. kors Of this territory
W"mtpsy had m0fgapoe eRtnl t'l'
VIZ .Irrr the Organization OF luls
NV ,,n.ut the money lonuor, the
t.'.,iisIs. hat cuIOav8fed 10 smut tht
sln. III government from theF
ta'-tt,a onto thusU VI OlheiF'
,,sut Of exemption ~
lul,,sgss meant the exemption Of
m'i'.'' .,s,i f,Aation. Ho knew
Dad. .wn county who hal maze
..f.ugb TO retire from business
.-g1,i,.r.t nay cent OF taxes. Ia
IA Ibr outlying Counilre alone
simr.. hal been stricken ir0m TIE
'..si.ntnt coll.
- mr uf8vWi5p tn the article lrI-
s,a deduction from the property
'.Istssatlou VI mortgage aui con-
,..Iri that there would b. no change
i,tre rfesunt law, because u change
mid mot make an luCsuasU iu thu
,.uur Therefore money would
Nm be- iou exempt from iis proper
IA stgued most sfiritcdly against
brtxHmUII1us Of tho mDuuy OF the
sg,tr .fupauius which operate through.
.gttbp Territory auI charge ugh rates
..u.t4fasL Ihpy should have their
..IrEy uKUI. IL hal been said
~ saviurs Bank a Ifus, Com.
any lends its money 20 build hOmos
.ri'lai o. would be uuiuat 10 tax such
mur4. 10 denied that 10 was the
.5mrany which paid dividends from
he rflcttds OF its mortgages.
Inc home builder who hAl tho
nancy VITA which 20 build bis home
8tD5murr benefit iOm u THAI the
man wIO bYfT0wrd money 10 build
ain. one vCr' taxed tue ether
should be-. Money was generally bot.
futI Goo BpsCuiutiyt pufpssus. TWAS
rsfluf, Iuat n mau should be exempt
nam taxation uu HE home i no NOR 10
ysgri that home AMI funt Il Into sur.
Wluiite states. These were only
s5ar al the AbustH. Nothing Bu
.r8.aat on the part Of the money
lower 90 the provision contemplated
iaitytf been placed la the c0nslitu-
uou VI ury other slate.
Ne alacsrd Cauuou's position on
The mortgage question, saying he had
sumpel the county Tor tho repeal Oi
uk, Exemption law. When tho
trtastt went into committee he found
wa generally conceded that toe
California provision should be- placed
.a TIE gsustitution. Hut the boomers
al mel anu threatened to Taits
lgiul aad said that u would
lnu lpIlal away. Then came
90 ufprlbiug provision now
sf.gre1 10 be stricken out. IL va,
ltguty without parallel. He want.
diIl property In the new state to brRi
lsfuItf share VI taNatluu,
ildwin i thought when the tnl
zHHi,upptd, otalory would stop.
thurman Laughing I'VE have r.
auletuI that.
G.oiwiu-Ol! understRni.
bg0IWiu saii that the dsy be'oT,
lltfs hal been an entertainment fol
.bs benefit u the woTElugmen. Now
tt'e were speeches on the wrongs be-
Ils done uy money. There could b,
10 doubt that taxation Of mott Ragel
uslut double taxation. A ICzou Courll
I'D 90 decided. The whole burden
'tl. on the poor man who had mott
,hgeI uIB home. The system was con
uAt, g. the whole system Of our gov
eminent
Chlttyor said that the rate of IN
itItst WIS., governed by the demand ful
H. when times were Hush aud money
unlu gtUBt demand the Interest Wal
t.gh.lhu question was not governed bJ
ilsthlu ui taxation, More than that Ia,
st0le quesli1n should be- kept 10 IN,
legislature That body had been al
tempting 10 settle IL Tor many years
tlllt had not been able 20 DO ~ " thu
abstraction 4 the people. Why, then
'lsuil The Convention In I've limited
Nue, undertake. 10 decide such com
PICK question, Under the present law
men lu this county who charge the sx
uloiilnafy Interest u per cent ue
month were absolutely Tree from taxa,
ign.
Pierce said be favored striking out
me atgumenlui WINS was Rbs0iutely
l1answe,ablr, The Legislature shuuld
nave iulI power. AZ one tine IL nigh
.tatslfahic 10 exempt mortgages aud
NauuIhUr 90 tax them.
EOHuJS MORTGAGES EXEMPT
Evanr, Of Weber, said hs was
Aeluhet OF the Legislature that pRsse,
lle Jaw VI 1902, At that time, uudoI
law i.Trlgu mortgages were found
ue exempt, while domestic mort,
sls's were taxed. In view OF this diz
y,mln. ton, on the report Of the boar,
equalization, he voted 10 exemp
l-igsgts. The Convention vas con,
routed by o different proposition
was 90 DO provided in tn
.lsllle law that mortgages shoul,
ever DO taxed. II once placed In thl
.klhlc law the money power woul,
~ hhl u was mover repea Cd. Uuue
,llsecllonH mortgages would never bl
wAsli bul The whole burden would f,l
We property. The desite would b
eyl'eil every thing into money aut
Au VINO could accumulate muUel
ul 'tAnu alOut from tho people AMI
~ no taxes, Toe money powSruset
gsleelous argument that A. mort
s.sts were taxed the people yuul,
NhNe 20 nav hIubsF tF,t..r.at