The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-11-22
10 them.

PROPOSED LEGISLATION.
II ;s good sign that both the newspapers
Of the state ard the members-elect of the
legislature are devoting considerable at
tentlon 70 the character Of proposed leg.s-
latlou.
II is generally conceded that there must
be change made in the mortgage law. 1t
is il such shape that the supreme court
could not make a series OF consistent deci-
slons upon it, and it Is supported princi-
pally by analogy. The fatal defect Is that
Il attempted TO be retroactive. and was
framed almost wholly with that view. II
was so fagrantiy in violation Of the fun
damental principle Of the invola b!lity OF
contracts that Il any member voting for Il
knew anything about the subject he must
have supported it entirely for political pur-
poses. Ii is being realized, also that in
stead Of being benefit 10 the debtor. Il IS
a disadvantage. Every attempt TO deprive
the lender OF money of the benefit OF his
securityis met by greater reluctance to lend
money. and so tie borrower has TO pay
more and give a greater volume of secur-
ity than under a law which protects the
contract when once made, IN the spirit as
well as In the letter.
Faulty in minor respects as the old mort
gage law was, IL was better than the pres
ent one Yet. having gotten rid of the de-
fects OF the old one, they will not be re-
v.ved in that which will no doubt take
the place OF the law Of 1895
1t will probably be impossible now to re-
peal the deficiency judgment provision, be-
cause the people generally seem to want
it retained. l. has been repeatedly pointed
out that this provision makes il harder for
the borrower. and compels him to give a
larger margin OF security, besides compel
ling him to pay higher rate Of interest:
but as the people Of this state generally are
borrowers rather than lenders II they will
have it so. II must be so.
The Republican members of the new legis-
lature who have expressed themselves at all
upon the subject Of taxation Will Loyalty
stand by the pledge OF their party TO pro-
vide a reasonable exemption. There is
little difference of opinion. some thinking
that $500 is little higher than it should be,
and perhaps il is. but custom has a great
deal to do with the making Of laws ard as
that sum has been SD long recognized in
this state, Il will probably have the most
general support.
Governor Rogers recommends the crea-
ton OF a railroad commission. He says that
thirty-two states already have such a body:
As.t H.,
full while some are not. He attributes any
want Of success to the system. We are
rather inclined TO think that it rests very
mucA with the appointees. lie says further
that the railroad commission should be p
pointed by the governor and removed by
him al any time. and should have power
20 regulate railroad charges. II the ap-
pointees were always men familiar with
the subject, and always honest, and the
governor should never be actuated by po-
litical motives in his selection of railroad
commissioners there might he no objection
10 this. Such a happy combination OF cir
cumstances is not often found, and the op-
portunities afforded 4 commission appoint
ed by a demagogue governor az a reward
for political services. whatever his party,
or who should he unfamiliar with The sub
iect or not strictly honest in the perform
ance Of their duties. may he readily con-
ceived. There is no doubt that with ample
powers ana good appointees a railroad COM
mission could be mace very advanta geous
70 the interests of the state.
Gov McGraw. In the admirable message
he delivered 10 the legislature in 1895. said
that so long the question Of the regula-
tion ST railroads ana general ;rausporta-
ton charges IS approached IN a spirit Of
moderation, and with the purpose to do
exact justice between the corporate powers
ana their patrons. It Is not to be app-enend-
81 that the public will he accused Of any
narrow-visoned hostility or prejudice to
The organized capital represented in trans
poriation companies. in that same message
II was also recommended that the absurd
rule Of The Pullman Palace car Company
receive TIE attention Of the legislature.