The herald., 1896-10-25

VIAL anu supreme Issue Oh tulS campaign
many voters may have been prone to
overlook the Importance OF the proposed
six constitutional amendments on which
they will be called to vote next Tuesday
week. The Herald has discussed the
questions editorially and now presents
Q number of interviews on them, with
some Of the leading lawyers and other
citizens of Los Angeles.
JUDGE CHARLES SILENT.
The constitutional amendments to De
voted for at the coming election are OF
the utmost importance, anu on nav The
immediate and direct bearing upon the
welfare Of the state. It Is high time the
newspapers were calling the matter 70
the attention of the voters, because l
am satisfied that the objects TO pe
gained by adopting these amendments
are not generally unoerstoV2su, &c ond
the one permitting woman sunrage, anu
the other amendments are OF equai or
0f greater Importance. In casting MS
ballot the voter is called upon to vote
for the six amendments by numper,
that is, for or against NO: l. etc, Will
out being informed what .,;saIs no is hefore fore
entering the voting booth, ne Will not
know how to vote. =.
The purpose of these amendemnts is
as follows:
No. Ito repeal the mortgage tax law.
No. 2-To permit Young Wy 'o''e
machines, etc.
No. 3-To confine the liability Of stock
holders in corporations to the par Value
of their stock subscription.
No. ITO permit cities and towns Dy
their charters to regulate their munac-
ipaI affairs exclusive of state control.
No. adds a new section to the con-
stitution defining the municipal affairs
upon which the cities by their charters
may legislate, as authorized by amend
ment No. 4.
No. 6-Permits woman suffrage.
Amendment No. 1.-The mortgage tax
was the outgrowth of the Kearney agi-
tation which resulted in the adoption of
the new constitution in 1879. 1t was an
effort to compel the money lender to pay
his share of the taxes, but 1t has not
accomplished that result. The money
lender has taken advantage OF 1t, and
by reason of it really obtains greater
percentage on his money. On money,
which, without this law, could be bor-
rowed for per cent, the lender adds
what he supposes the tax will be, and
adds an additional percentage to be sure
he has enough. So on money which
should, without this law. be borrowed
for 6 or per cent, the borrower pays
from to II per cent. Under this law
the borrower in reality pays all the
taxes, and the lender gets greater
percentage than he would without it.
The mortgage tax law has proven
pernicious experiment. 1t has kept UP
the rate of interest and prevented mil
lions Of foreign capital from coming
into the state on accouna Of the taxation
of the mortgage as an interest in land,
and its liability to sale by the tax col
lector. The repeal Of this law has been
:, repeatedly before the people of the
state, and has been defeated partly
through neglect and partly through the
efforts of the savings banks and money
lenders in the central part of the state.
Southern California should cast a solid
vote for this amendment. If not, it will
again be defeated. In my judgment, the
repeal Of the mortgage tax law would
Immediately reduce the rate Of interest
from 9 and II per cent to. 6 and per
cent, and foreign capital would seek
borrowers here
Amendment No. should be adopted.
1t Is in line with the Australian ballot.
Self-registering voting machines are
being so perfected that mistakes and
frauds will be impossible, and the re-
suits can be declared Immediately upon
closing the polls. Wherever they have
been tried they have proved satisfac-
tory. Our constitution requires all vot-
ing to be done by ballot This amend
ment does not require some other mode
: to be adopted, but simply confers upon
the legislature the power to adopc E,ese
machines or any other mode of voting,
when 1t may deem proper to do SO.
Amendment No. 8 should be adopted.
There is no definite limit to the liabil-
ity of stockho'der in California cor
poration. When he subscribes a thou
sand dollars he may become liable for
and be made to pay many times that
amount. The law as 1t now stands is
unfair and detrimental to the best in
terests of the state because the stock
holder has not the power to fix in ad-
vance, the extent of his liability, and
much capital avoids corporate invest.
ment. Under this amendment the liabil-
ity of the stockholder is measured by the
par value Of his stock subscription. This
amount the corporation Of any of its
creditors can collect from him, but not
more.
Amendments and cover the same
subject and both should be adopted or
rejected together. shall vote for both.
The object Of these amendments is to
make cities and towns which adopt a
charter Independent of the state legisla-
ture in municipal affairs. This is as 1t
should be. The charter adopted by the
people to be governed should be the
fundamental and exclusive law and not
subject to change without their knowl-
edge or consent. AS the law now stands.
schemes can be carried through the leg
islature under general law, by which the
charter is nullif1ed before the people
of the city are aware Of 1t.
The sixth amendment permits woman
suffrage, a subject with which every
voter is familiar.
Some plan should be adopted by the
committees in charge of the political
machinery, either by united or separate
action, by which each voter can be in
formed concerning these amendments
as he enters the polling place, either by
pamphlet, tract or slips of paper. The
first five amendments are purely nom
political and clearly for the best inter-
ests of all good citizens. If the COM
fnittees Of the principle opposing polit-'
ical parties would join in recommend
ing their adoption they would undoubt-
edly be carried almost unanimously.
M. W. CONKLING.
Six proposed amendments to our state
constitution are to be voted on at the
ensuing election. AS they are designated
on the official ballot by number only the
voter will be compelled to study them
beforehand and nota the number
Amendment No. provides. for the re-
peal of the tax on mortgages. Every
person who has ever borrowed money
on mortgage knows that the person
who borrows the money pays the mort
gage tax and such persons require no
argument to induce them to vote for