The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-04-12


beaf1ne invsstments. One - IN pro-
visions Il to pisce : ma upon those per-
sons Who refuse to make . return Of
their Investments
30 long - II vas supposed 70 be q
measnra aimed only - Corporations.
nobody seemed to hare had the courage
10 oppeae Il. becamse 10 do that would
be unpopular. Just n II was passing.
however. some astufe pssson discovered
that II would infitet most hardship upon
the mass II the psopie. Now the news-
papers find Il popular TO Sight II because
II applies to saving fund societies- II u
shown that IN the wilmington Savings
Fund Society alone there are 1890 de-
posttors with average deposits Of 500
each. All this money has been deposit
ed mostly by men who work for daily
wages. and women who occasionally
savs . few dollars. This money = In
vesfed generally in mortgages on real
estate. and under the proposed tax law
the society win have to pay tax on
these mortgages and other Investments
This win Of course cut down. the
amount Of interest the society - now
paying on Its deposits. The friends Of
the society claim that II Is . charita-
bic institution. ~ II II managed solely
for the interests Of working people. none
Of the officers except the necessary cier-
ical force being paid.
This seems reasonable enough. but II
II obvious that unless the law Is made
to apply to the society. all persons hold
ing investments would rush 10 deposit
their money in an institution that - ex-
enpt from the provisions Of the new
btll. This would be such discrimina-
ton against banks ~ to make Il unjust
and unconstitutional IL there - . pro-
vision Ia the constitution Of Delaware
requiring all property Of the same class
to be equally taxed.
People who have improvements on
land or who have valuable property
In thsir homes which needs police
protection and nre protection only
pay for that by taxation. but It
would not seem that people who merely
save . little money and put II into .
savings institution should need for that
class Of property either Of the adva1i-
tages We have named. or sewers or cleo
tric lights or water services or any Of
the other incidents OF municipal life
for which taxes are imposed.
Where money IL invested In such Inn
provements. or personal property such
~ diamonds. watches. silver plate or
silks. It would seem that the owners
would be willing to pay for protection.
Yet those people would probably say
they should not be made to pay q PEN
atty for holding property which u nom
productive. which has given employ
ment to tho manufacturers and the la
Dor put upon them. and to merchants
and their help who deal in them, while
the owner Of money who merely hoards
It. should escape taxation. II . tar Is
to be applied both to money and to the
articles We have mentioned, then comes
another ineouity. The money OF the
thrifty Is assessed at 100 cents on the
dollar. while the personal propertv NJ
those who are in sense less thrifty,
are only taxed to the amount OF 30 or
40 per cent. Of the actual cash valua-
ton.
These are the problems which con-
front the statesman who seeks to estab-
fish a perfectly equitable system, al
though they may be easily brushed
aside by the reformer whose only object
Is to escape taxation himself ana put
1t upon somebody else.