Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1898-06-18
An Omen Letter.

To the Delegates of the Republican State
Convention
Double taxation has been called to the
attention of the legislature by the last two
governors of the state, and not deemed Of
enough Importance to receive any legisla-
ton. Is it not worthy of attention.
Turn to the United States census Of
1900. Four farms out of every nine have
mortgage of AZ 3-4 per cent of their
value upon them, and one family in every
three who own village lot has incum-
brance upon it Of 81 per cent of its value,
and there were on these two classes of
property 10, 1856 mortgages; or one family
in every four in the state had mortgage
above its head, and there are more families
who live in rented houses than there are
| that own their homes in the state. Do you
think the last seven years have changed
the condition of these families?
The total amount of the incumbrance on
farms and homes were nearly $17 100000
or one tenth OF the total tax of the state,
yet it directly affected one family in every
| four or more than one fourth the popula-
ton of the state, for the man who holds
the mortgage is interested, as well as the
man who gives it, for he has to pay taxes
on every mortgage be holds; or in other
words you have taxed seventeen and half
million dollars more of property than there
is in the state, for there can be but one
value to mortgaged property when held in
possession by one party and held in secur-
| ity by the second party.
Can farmers and business men afford to
pay six per cent, the legal rate of interest
in this state and the taxes, both making
from seven to eight per cent or more
Can capital afford to rent money at less
than six per cent and pay the taxes on the
MORTGAGE Legislators have encouraged
capital to invest in corporations, by saying
all stock held in corporations paying taxes
in the state shall not be taxed but once.
Why not say that mortgages held in the
state on property taxed in the state shall
be exempt from taxation, or pay but one
tax. Give men an equal chance, who
would stay at home, with ambition to do
something and run in debt to do it, and
not make it crime to have ambition in
Vermont as you are doing to-day, and tax
him twice.
Is it any wonder farms are being deserted
hnd our young men seeking other fields
| Horc lnVltinS. IlVe capltal cnanCe 10
stop at home if it will and make the securi-
ties of the state to be sought for and not
Stunned. Make single taxation a point al
issue that it may be discussed and the best
means arrived at for its accomplishment.
Republicans of Vermont, here is duty
for you to perform for the glory of the old
Green Mountain state as much as there i.
a duty for the men who have gone to the
front to uphold the honor of Vermont
Everyone who can claim heritage in old
Vermont, fills with pride at the mention Of
the name of the Vermont men, who have
just written their names indelibly on the
pages of history. Can we who stop al
home, do more than our duty for the pros.
perity of the old state by making her q
land of equal taxation and so keep our
capital, our young men and women, the
bone and the sinew of the state, at home
and make the old Green Mountain state the
land of Freedom and Unity" and equal
taxation forever.
| L. H. STEARNs.
Bellows Falls, Vt, June IA, 1898.