Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1897-04-08

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GOV. LON v. STEPHENS.
It seems that on March 9. 1897, house bill No.
775 was read in the house third time and
passed, emergency clause not adopted The bill
was then sent 90 the senate and went through
the constitutional formula, and on the 10th in
slant it was passed by the senate the vote be-
ing 10 for and against, the emergency clause
in this instance not being voted on at all, but
this bill as presented to me for consideration
for the emergency clause attached This raises
very serious question. which. as have noted,
brings out an inconsistency that can not be haH-
Snonized.
INQULsIToRIAL AND UN-AMERICAN.
It's main features inquisitorial and I'M
American. Under our existing assessment laws
an affidavit is already required from the owner
OF notes. bonds and mortgages covering the ex-
tent of his holdings and their present value.
The statute provides remedy against the af-
dered the assessor. In addition to this, the
county boards of equalization have authority to
increase the assessment where it has been made
too low, and TO impose penalty in addition
AN IMPOSSIBLE TASK.
The proposed operation OF this law would in
course of time deface note or bond which had
been held for any period OF time almost beyond
recognition. In addition to this. the listing of
the Voluminous mass OF indebtedness which Is
represented by notes, bonds and mortgages,
would be impossible task for the assessors
using the machinery which they have hitherto
employed. As easily might the law require a
merchant 90 furnish to the assessor complete
inventory of his stock of goods and accounts,
requiring the assessor at the time to make
complete cory of such inventory upon his re-
ruFns. As easily might the law require farm
to furnish to the assessor for listing. stamp
ing and branding every head of stock owned by
him. with penalties annexed for failure to list
etc.
THE PRIVACY OF CREDIT AFFAIRS.
Successful and enterprising business men are
usually very anxious to keep their credit affairs
private, and their success in o great measure de-
ponds upon not taking the general public and
business rivals into their confidence And, be-
szilpS there Is n universal desire among for
privacy in their affairs, and especially of their
6;Ii ~ sScbSnee and videncs f Ian - -
-curately described and placed upon public rec
ord. business men will find nearly the whole Of
especially local Indebtedness, for the scrutiny
and criticism OF business revivalS and enemies.
OF course many obligations due from business
men will not be made public because held in
other states and by banks. banks not being re-
their capital stock; but enough viii be shown
in many instances to discourage the man operat-
ing On credit. who is doing well in business and
rapidly reducing his indebtedness.
WOULD CATCH FEW BAD MEN.
The constitution of the United States recog-
Mics the desire men have for keeping their pri-
vate affairs to themselves, and provides against
the unreasonable search OF papers and effects
Now then, when it is proposed once a year for
a man TO expose to the curiosity of the county
and city assessor all his evidences Of debt, this
idea Of privacy will be violated Some men
would rather pay double taxation, perhaps than
once year to disclose all of their business AS
for preventing property from escaping taxation
who intend to avoid taxation will invent more
certain methods than they have now. The
law wiz i9]urs tns GOOD men ana eaten very few
will always depend upon the vigilance, compe-
tency and good sense of assessors, no matter
good men who now give in a fair list will leave
the state before they will have their private af-
fairs made public every u months and place
themselves at the mercy OF those who wish to
take advantage OF the knowledge thus derived
why should our business he exposed and placed
upon public record when trust companies banks
and corporations are not subject to this annoy
zRnce and exposure.
WOULD DIsCRnIINATE AGAINST HOME CAP
TTALA
There has been great cry for years against
paying interest to eastern and foreign loan COM
pNnieS, and on eastern capital the sending out
of premiums to eastern and foreign life insur-
auce companies, and things Of that character.
and yet this law looks to me as II 1t might be in
the direct interest OF such eastern and foreign
loan companies and foreign capital, for it does
not affect them, but local capital only. VIII
this state by this and other measures of q SINH
lar nature drive local capital from the state and
leave the whole field in Missouri to eastern and
Foreign capital? Instead of having legislA-
ton OF the character to drive capital out
OF the state it ought to be Of such character
A. TO invite it into the state Some may think
that this law will in some manner benefit agrt-
cultural communities, but 1t viii prove exactly
the contrary as all such measures have in west
sern states Farms are at present assessed at
nbout one-third their value, and any attempt to
change this greatly Will meet with vigorous
protests from the farmers. Ii this measure and
similar ones drives local capital out OF the
safe. and the lists OF personal property de
.ciineS. which they are bound TO do rapidly IN
del such legislation, can there be any doubt
but thCt in few years IL VIII be absolutely
necessary to assess land much higher than IL Is
now, and the farmer will bear q greater burden
of taxation; besides, it will tend to increase
rate OF interest. no matter what may be on the
statute books regarding the same.
WOULD LIST WORTHLESS NOTES
1t VIII make mcary almost impossible to get
kni IL by these means our local capitalist is
driven from this state. IL Is only auction of
tame when there will be a great decline il val
UeS. melt ling farms FdrGnsrS ana business
men viii be re Iuirei To list notes which they
now hold which may be wur, hieSS. but which
they arc hoping some day t. collect Many
NtXatiouS questions will arise for instance.
Eherc pitts 81 exchange anu notes change
Sands several times or the first Jav
of JUae. disputes viii arise a. In VINO should
aist then, Tor taxation on that Ga; because the
qaw tt---> no notice of :. fraction % day. VAR
outs nslncs will be Sound upon ii by the assessor
sJaiagCd there or the list day of June ami lsticI-
Gicn will surely arise over this ami many other
points contained IN such extraordinary law. In
steal of increasing the revenue of the state tn q
probabilities are largely IN favor of the fact
that valuations Of personal property Will
sr..u.dsy decline. owing to various methods
s--.,fsh Eia I've reSoFted TO prevent the ex-
s0,-4xse &c private business Property ana money
Exiti sent cut OF the state, soon 10 be follow
TN by the owner thersOl, and all msa With cap
SfaI who are seeking Investments and perhans
this state as location. will look aSkancc Ut Us
and move around Us when they ind that we
have been indulaing in such Legislation. think
Snr IL Is only beginning of worse 20 follow.
sIshe ftIIl evil effects of such u can not
be counted until . few years trial. but caution
s1reseut time when there has oeeE @ueh . lonS
period Of AnAnrtal dtSaSter@