Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1897-03-16
OUR CANDIDATE IN 1901
Taxes on Money and Cred,ts.


it's to hide from the assessor, renders
it necessary that some drastic legisla-
ton be had to reach them. Real
property, the improvements thereon,
with domestic animals of the owner
are all in plain sight of the assessor
and can scarcely escape. Beside
this the assessor has access to the
pffice of the Register of Deeds and
the plats of lands and it's subdivis-
ions when needed to enable him to
complete his work. Why not give
him access to this source for informa-
ton about money loaned and secured
by mortgage upon lands or chattels?
And SO to the Auditors and Treasur-
s7's Office to ascertain the money in
vested in tax sale purchases. These
monies should all be assessed and at
fully as high percentage as other
kinds of property because it yields q
profit greater than lands and farms
as the vicissitudes of the weather
don't imperil the crop. If the asses
sors of this county were thus author
lied by law to search the records and
assess for moneys and credits from
the information thus obtained, thous-
ands of dollars profitably invested
which now escapes taxation would be
compelled to share the burdens of
government that affords it protection
It is time for deadheads to pay their
fare or get off the train. Such a law
on the statute book would inspire
mortgages with the necessity and
importance of executing and having
recorded release.for every mortgage
that had been paid to the end that it
might not be assessed and taxed. But
the objector who is the owner of the
mortgage says this would be double
taxation as the land would be asses
sod as we'll as the mortgage. Grant
it true. But the tax levy would be
less in as much as it would cover
monies and credits which heretofore
have escaped taxation and to that ex-
tent would relieve the owners of
property which is in sight.
Since writing the foregoing, we OBJ
serve an article from correspondent
Of the Evening Press, which covers
the ground SO fully, and SO complete
" expresses our views, that we copy
and endorse what it says.
II saw, two or three years ago, a
statement in local paper that one of
our local attorneys here, agent for the
Lombard Investment Company, of
London, England, had invested for
them in this vicinity, $25O,OOO. 1t
would be interesting to know if the
Lombard Investment Company paid
any taxes on their Investments.
To do justice, money invested in
mortgages should, like money invest
ed in land, be listed for taxation from
records in recorders Office. Until
then capitalists and aliens will never
pay taxes. But the farmers dog-Oh!
yes, he is taxed.
Who will introduce a bill in the
legislature providing for the taxation
of money invested in mortgages, the
same to be listed for taxation in the
county where the investment is made,
just as land is taxed. This will make
money lenders pay taxes, and especial
~ those who live in London and Ber-
lin something they have never done
yet. Chattel mortgages should also
be listed with the assessor for tax
alton or;be non-collectable. There is
no good reason why money lender
should not be taxed il he
puts $50 in loans any more
than q farmer who invests
$50 In a wagon or seeder. Let some
one put the present Republican legis-
lature on record as being opposed to
taxing capital by such measures and
the people will surely see just how
much they believe in honest tax
etion."