The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-02-18
Killed Two Measures During Yes
terday's Session, However.
RIGHTS OF MONEY LENDERS
AN INTERESTING DISCUSSION
ON DEBTORS AND CREDITORS.
Kenner's Bill to Prohibit Deficiency
Judgments-Representatives Ray
and Sorensen Introduce Measures
to Garry Out the Provisions Of the
Carey Act-A Night Session.

The house passed no bills yesterday
afternoon, but killed three bills and
two resolutions, which was perhaps
better. An interesting discussion of
the rights of money lenders and
debtors, and the obligation of the Dor
rover to repay the full amount bor-
rowed preceded the death of Kenner' S
bill to prohibit deficiency judgments.
Representatives Ray and A. P. Soren-
sen introduced. bills to carry out the
provisions of the Carey act, which
each of the arid states. on condition
that such land be reclaimed. These
are very important measures.
COMMITTEE REPORTS.
The following committee reports
We're received:
From the committee on education,
recommending the passage of Mrs.
Cannon's bill, providing for the COM
pulsory education of deaf rlutes and
blind children.
From the railroad committee, recon-
mending the rejection of house bill No.
SO, D. S. Cooks bill to equalize the
benefits to be derived from the taxation
of railroads. The bill was rejected
r
corporations. recommending the reJec-
ton of house bill No. so, Mrs. La
Barthe's curfew bill, and the passage
of house bill No. 49, to enable counties,
cities, towns, etc. to fund the float
ing Indebtedness existing at the time
Utah was admitted as a state.
Kenner and Thoreson, of the judici-
airy committee, presented a minority
report on Kenner's bill to prohibit de-
i11d recommending
passage.
Mrs La Barthe defended her curfew
bill, adversely reported by the COM
mittee on municipal corporations. 1t
was represented that the code per-
mitted cities and towns to adopt such
ordinances. After some discussion the
bill was rejected.
DEFICIENCY JUDGMENTS.
House bill No. IA, by Kenner. pro-
hibiting deficiency judgments, was dis
cussed at great length. The judiciary
committee had recommended its rejec-
ton and Kenner and Thoreson had
submitted minority report, favoring
its passage.
Shepard doubted whether the meas
ure was constitutional. While ap-
parently intended for the benefit of the
debtor class, to which he belonged, he
believed it would work an injury 70
that class. If it became law he did
not believe a man could borrow $1,000
on $4,000 worth of property. 1t was
vicious legislation and would keep
money out of the state.
Roylance defended the bill. Mort
gagged property was frequently sold
under such adverse conditions that it
would not bring its value, and the
amount realized should cancel the debt.
Romney was strongly opposed to any
such legislation. This is a borrow
ing state" he said, and the effect of
this measure would be to kill invest
ments. We must pay what we borrow,
and our word must be as good as our
bond. If the security will not pay our
debt, we must make it good. l am
not in favor of allowing any man to
incur a debt that he will not pay"
He demanded equal justice to all and
protection for the rights of the money
lender, as we'll as the debtor.
Kenner had no idea there were so
many representatives of the gold and.
interests on the floor
Replying to Shepard's contention that
the bill was unconstitutional he de-
clared that these constitutional quib-
bles were becoming chronic with this
member Il am informed" he con-
tinued, that he believes the Lords
prayer is unconstitutional" The bill
was in line with the constitution.
Money lenders always exact ample Sc
curity and there is an implied contract
between these parties that this Sc
curity should be accepted as full pro-
lection for the loan. A deficiency
judgment was a violation of this con-
tract.
Murdoch opposed the bill. The state
of Utah should establish the fact that
in this state it required $1,000 to pay
a $1,000 debt.
S N Cook thought the measure
would be detrimental to the borrower |
Thoreson believed the money lender |
should receive his pound of flesh, and |
no more. If the security deprecated, !
the mortgage holder should share in
the loss.
Wilson believed the man who sought |
to repudiate his obligations was held !
in the same esteem as the state that |
its obligations. Utah should !
not attempt so dangerous a thing as |
Bennion. as a borrower, was opposed
to the bill. The honor and integrity |
Of the borrower was half the security. |
This bill offered a premium on dis |
honesty.
Sloan opposed the measure, which he |
regarded as a tails l win, heads you
lose" proposition" Pass this bill and |
every Utah mortgage would be fore
closed and no man would be able to |
borrow a dollar
The minority report was rejected, the |
report adopted and the bill re-
iected by vote of rs to 8.
MORTGAGE TAXATION.
The report of the judiciary commit
tee recommending the rejection of |
rhomson's proposed constitutional
to provide for the exemp-
ion of mortgages from taxation, was
aiken up and Thomson argued against
he taxation of mortgages where the
property is assessed at it's full value
After some discussion, further con-
;ideration was postponed and the reso-
ution ordered printed.
Thomson's resolution, proposing a
amendment to provide
or legislation by direct vote of the
people in certain cases, was rejected,
n accordance with the judiciary COM
nittee's report.
Maxfield's resolution, proposing an
amendment to that portion of the con-
titution relating TO the charging OF
county boundaries. was rejected, as
recommended by the judiciary commit
ee.
NEW BILLS.
The following bills were introduced: |
Mr.. Ray introduced house bill No a.
o provide for the acceptance by the
tate of Utah, from the United States,
# certain lands and providing for the
acceptancy and disposal of
he same. 1t provides for the accept
nee of the conditions imposed by con-
-ress in what is known as the Carey
ct, with all land grants under this
ct. The management of such land is