Daily Kennebec journal., 1901-02-28

appropriations that will be asked for
mas not come in here. when | considcr
! that there is Il deficiency in our N,ino
state prison of $4,000, when | consider
the deficiencies in the State printins or
Sl5,ooo when | consider that ,bere mr.,
many other deficiencies. thcn I-a.l. th.,, g,
all property be taxed; and | saw il is rirb
we should raise a revenue to meet the
legitimate expenses of government
Al the committee hearing at which !
was present, | found that no dcnosi,o,
appeared to object to being taxed
'oui'u 'he banks here and the bank ex-
'ihiher opposing this bill. | found hired
attorneys for the savings banks Of this
state. coming in here, and urging, not
only that the banks.-that deposits in thc
banks should not be taxed. but they ask
furthermore, that the tax be reduced
upon our savings banks Now. il is trIc
| apprehend that a great many of thcs,
dcpoSitors, YOU will find ny looking at
the bank examiners report. are small
deposits, but are you aware. Gentlemen
that there are i955 depositors in the say
inSs banks of this State whose dcuosits
are more than S.00n. And can Won ton
me any reason why those 1853 depositors
| OF thc wealthy men of this State should
not pay tax upon their deposits in those
savings banks. just as much as YOU nav
a TAX upon your farm, or as another pcr-
son pays tax upon amy property which
he may have? Are you willing to vote
| That this bill should not pass ana ga
home 10 Your constituents and poor tax
payers of Your towns and say to them
Il voted to exempt $l2N1.o0, of propcrty
from taXation?" If YOU do. Gentlemen. if
| the people in your counties feel as they
do in my county. this will he the last,
| time for number of years that Won viii,
| represent your district or YOUR town
Why? Because the time has come. and il
| is opportune. now that every species of
property should be taxed.
| Those 1856 depositors represent an
| accumulation of capital of 81. 1000 900
/ You tax that, just the same as YOU tax
any other property, and you will find
that it will amount to 81 $50. 900
Now, | know that the plea is that
the reason that the deposits in the say
| ings banks should not be taxed. is be-
cause it is of small depositors widows
and orphans. executors and guardians
etc. But. don't You know. gentlemen
of this Senate. that the original ton of
| this bill was for that very purpose? .?
And you furthermore know that the
| monied men of the State have taken
| advantage of that law and put their
money into the savings banks and are
| exempt from taxation. | know of
man who has 100000. today. in the
savings banks of this State. To be
sure. he can put $500 in one bank in
| in his own name. and spread it round
! as far as he can in his own name in
| the different banks, and then put as
much more in the name of his wife and
| children; and therefore all the money
| he can get goes into the savings banks
| of the State, and is exempt from tax
alton. and his neighbor. who owns a
farm worth $1,000 must pay the taxes
| which this man ought to pay. l ask
| you, in fairness, is there any justice in
| it? You may amend this bill. if YOU
| please, to make it apply TO the depoS-
| itors who have 1000 and upwards. |
| do not believe in that. because know.
| Il believe that every system Of tax
alton whether a man has $50.000 in tn"
| savings bank or has $.,000-that il
| should be taxed just the same as the
poor mans farm is taxed. | know
| man in my knowledge who has 81 600 in
| the savings banks today. and he is
simply hiring a house and pays nothing
| but poll tax: and his ncighbor is
| building his roads. paying for the ed
ucation of his children. paying the run
| ming expenses of the town. and giving
| him right-the same right of enjoy
| ment of the privileges of the town that
| he has. | say that it is wrong from
| the beginning to the end. There IS
| another reason why savings banks and
| deposits in savings banks should he
| taxed the same as all other property.
| 1t is a fact that our rural towns are
| growing poorer every day. 1t is fact
| that they are becoming depopulatcd, us
| the last census will show. Now. why
/ is it2 What we want is to have in
| duStrieS start up in the various towns
| of this state | would hav" the money
| taken out of these savings banks, ana
| would have it i'm the hands of these
| pcoplc i'm the towns that Will so Into
| enterpriSeS and give employment to
! the Young men and the young women
| As this money is. tied up in the say
| inys banks today. the young men
and Young women. when they grow 70
| manhood and Womlnhood in our
|
| towns. find no business IN the toWfl' ho
industries are springing NJ there. arh
| they have to go outside Of the state 81
| Maine for the very purpose OF Settlfs
| employment. ! would have these e.
| positors taxed just the same as tht
| farmer is taxed: and if they are ho'
| content. let them take their money "u'
! of these savings banks, and put II lhto
| business in their towns. ana give ti'-
| nloyment to their nelShbofS. liitN
YOU will have prosperity; ana you can
not have prosperity in our rural towns
until YOU accomplish this. Now III
| this bill do not ask them to pay h'oie
than anybody else. ! am WHINE 70
! concedc to them that the savings
| banks three -fourthS of one per cent
and this bill says that. if in your 70" i
| your rate Of tax is two per cent 'i''
| that shall be deducted from Wnat the
savings banks pay, three-fourths Oh one
per cent. so that the rate OF taNa''o''
unon YOUR 81. 900. or whatever you ND.
! have would be one and one quarter vi
| one per cent. in your town.
| The amount of revenue thit So
| ,,o,.a ,,;cad by ia aying the steam ran