The Weiser signal. [volume] (Weiser, Idaho) 1890-1904, 1896-03-05


to silver, its position on which has
been heretofore cited as constituting
the main objection to the book, but
nathless are quite interesting
REASONS FOR NOT TAKING NOTES
AND MORTGAGES Many persons who
have given the subject OF taxation
most careful and conscientious study,
have come to the conclusion that
the government ought to exempt
from taxation all money, notes, mort
cages bonds and other forms Of invisible
property. Assessors do not find the in
visible property. AS matter of fact
only small part is taxed. 1t is mani
feslly unjust 10 tax part and allow II
part 10 20 free. The loaning of money is
done chiefly in towns aud cities Taxes
in cities are generally high. sometimes
four or five per cent. The man who CON
ceals his money from the assessor is in
competition with the honest man, who
reports all his property. The dishonest
money loaner has then an advantage of
four or five per cent over all others.
There is here II bride Of four or five per
cent per annum upon their capital for all
est. or TO sell out their business TO the uis-
honest. The government. by the attempt
10 tax drives the business into the hands
OF those who conceal their property from
the assessor The government gets no
tax; the dishonest money loaner gets as
high II rate Of interest as If paving the
high taxes, while the borrower paws II
wholly gratutous bounty 10 the dishonest
lDuupr Now III TIM Al a
simply cease trying to tax moneys and
credits, the honest lender and the cishon-
est one would be placed on an equality;
interest would be lower; the borrower
could afford TO build more houses and
shops, and, instead of rewardlng dishon-
esty by high rate Of interest. the Dor
rover could pay II tax upon the visible
property which II low rate Of interest had
enabled him TO create.
BONDS SHOULD NOT BE TAXED. 1t
Is often economical, and il is some
times necessary for the government To
have the use OF more money than can be
collected ut once by taxation An expen-
sive building is to be erected, or "A war is
To be waged In such cases the govern
inert borrows money, and issues its notes |
or bonds, promising to pay at some time
IN the future. The government has no
more power in the borrowing Of money |
than an individual In some respects the |
government resembles an inSOVent bor- |
rover. Some men. who cannot be com
PEELED TO pay their debts. can. neverlhe. |
less borrow money on pretty favorable
terms, because men believe that they will |
pay. The government can often succeed |
III borrowing on favorable terms becnuse
men believe that it will pay. They know |
That, in most Gases, IL cannot be forced 10 |
pay For government To Lax IFS own
notes or bonds would be inst MS irrnt,onnl
MS il would be for an insulyenL borrowpr
to publish in advance that he would only
pay part of The interest agreed upon in
TO such n borrower or ,hnv ,yonid r, ,nI,"
Lne interest high enough to cover all RISKS
,xpected TO Ink its bondS thrne nar c ~
ne creditor would add three per cent TO
elief to otner lnxnnvers I'm ,he - cn q"
,rnment' IN order to borrow on most
olnce It's notes in tho hands or i,s "radi ~
'rs ana permit them to be bought and
he government 10 tax ,base h"n ,,l d pt W.
mem inio Inc bands OF those who avoid
nd the TAXPAYER is comnel=ed n" Nv na wv,
Ugh rate OF interest which benefits no
he best policy for the neonls 10 havs !,
understood that no bond is
ity. town, township or school d iSa%'1
nall under any circumstances, be taxed
;ay The bond.holder nav ha co,nn =" ini'
trough low rate of interest TO STARE
aver is relieved ''' '''' WA
The matter upon which the book
ikes so positive stand is a grave
nd broad one, and on which n great /
lumber of intelligent men have diff :
erred very strongly. There are va /
wing and widespread political views |
n the subject. Ii the book had i
'erely aimed to elucidate to the pu- !
il the extant condition of tbinos a
living the fact of existing differences !
opinion, impartially dwelling on 4
lie arguments advanced for such 7