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


some Of tue men 10 whom / have r.
ferrcd.
GJOIwiu-Well, / DON'T like the in.
situation, Eud want o. understood that
there IL a. least One paper that Is not
subject 70 the men Of winch you npnak.
Hul % bucut T0uli have more Ogey
than " has.
Evans (4atcnsiicaIly)-Oh. Z have
no doubt " tnH virtues 10 tue I}t5uUC.
IL ia very consistent sHc'l uni has
always h,d uu extremely mgh opinion
Of Itself
Eliteiro said that mortgages were
OF property tu. simply an evidence "
property.
nASi;ERs not ALL uAD.
James though shat bankers vefo not
oil bad. SUmr OF tHum-ubuy OF
them-WuTU quite The c8ltrbfy. They
Wuro a power 'Dr gree, good in the
community. 10 had ten domoni'rat.
Ell That in uis own huHu,tB, especially
during The last two yCbrs wnuu he rud
frequently hnd large Uvutiraflg a. tIe
banks. he had never Iah tax
uIDu such over dfni.a AMI rhguli not
Lu rgguited 10 30 Nd, ~ u was no. only
tcu CugiAl 90 himself but Of immcusc
value o. the wUrHmen whom DO I'm.
plOygd, who olhurwfv would have
been compelled TO 10 without work.
WAITED TO HEAR CANSoN
At II O'clock noon, an attempt 60
take recess until . p. m. was iuehac,.
ually male, nni Cannon, chairman %
tho COMMITTEES 0u revenue, taxation
aud public debt, was gfautud uCrml.-
sion TO close tho debate ON the teCuUu
under dlscuwl1u.
Rlcks-l move that no be- limited to
ton minutcs.
Cannon ('arCastic1llyl -The gentle.
mnu IA worry llbstal AuI % the tUst Of
the members NJ tho Convention were
like MIN, | would not speak at all-lt
would DO uscirss,
cannon defended tue section ami
taid thAtil provided only tunt ~ mort.
cages are taxed, the amount Htstffol
ok iinst the holder OF the mortgage
tuOuld tC deducted from the ussrssud
valuation 70 the property covered ny
| the mlttgagg. lie cited number 90
Instances where any other rule would
10 double taxation; one being, be
taid, 40 iJllOws; Two men have
| 81 900 each, aud buy a farm together.
| Inc farm would belong Uur-Gaif g.
each, auu " assessed az 10 iull value
would be- assessed at 5000. lfthe
same men had each the came 3 200
| referred % anu Que wished 10
| buy tho farm named, aud should
| borrow 81 900 from his friend
| Hul shUuil uuy tue iarm, aud alter
| obtaining tho deed should give his
/ friend n mortgage 90 secure the 81, 900
/ borrowed. Tho amount NJ money iu-
vested would bc S9,OUO-sl, 900 ueloug.
/ lug No IN case 0f FIRST purchase TO each
Of the parties, get under tue old prac.
/ tics Of usEessinE, anu which this seq
ton In intended 90 prohibit, the prop
crly would DO assessed NJ follow; Man
making Purchase, farm, 5000, MORT
gage hcld by his friend, 81 700; total
asieiamgnj, $4,000"
The speaker claimed that In all other
cases the old law created equally
double taxation. He challenged any
ono 10 Point 10 a case whore
| n was not double taxation and
said that he favored taxing mortgages,
tut believed Il should TO left 10 the
Legislature; aud that thu section IN.
der consideration provided for leaving
this matter In such way that the
Legislature may take such action ~ II
may deem wise. Under the old law
/ the local money lender was taxed aud
tho money lender Ia other states aud
foreign countries was not taxed In
Utah.
No MoRTUAuEs ~ WASHINGTON.
Al this point something was said
about mortgages In Washington coun.
~ aud wins replied!
81 was Assessor aud collector OF
Washington county for six ears ami
happen 10 know that during that
period there was not real estate
mortgage In the county aud | DOME
think there are half d,zsn there 10.
day, u Indeed there are any. lApp'
lauur,l
Evans, OF Webet-Now would like
To hear from San Juan on that qu,s.
ton, (LbughtCrl
/ Hammond Tno same happy con.
dilion exists IN San Juan.
THE sECuoS uOE3 OUT
The section wa, here stricken out on
a vote Of 81 10 a., after which 4 recess
was takeu until pm.