Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-03-07
TAXATION BILLS
ARE TAKEN UP.
G|asmann's Proposed Measures
precipitates a Lively Debate,
WILL CLOSE UP THE BANKS
so Says MIR. Smith, While GIasmann
Argues That ID VIII Mean
sl,00O,O0O 60 the State.

Immediately after opening this morn
Ing Mr.. Axton gave notice that he
would ask for consideration Of his
bill, No, 2Sl, regarding abstracts.
The special order of the day, the con-
sideration of Glasmann's tax bills Nos.
%, 92, l4S, ISL and 1893, was proceeded
with, Mr.. Davis having been called to
the chair. No. 80 was first taken up
1t Is the bill that deals with the ex-
emption Of State franchises derived
from the United States, and was passed
| by vote of 81 to |.
No. l4S came up with an adverse re-
port as being unconstitutional 1t ex-
empts from taxation mortgages, ETC.,
and was considered unconstitutional.
Mr.. Glasmann explained that it was
aimed principally at mortgages owned
without the State. The Supreme Court
had ruled that unless the person owning
the mortgage lived within the State the
mortgage could not be taxed. The argu-
ment had been made that taxing for
elgn mortgages would run capital out
OF the state. Oregon taxed mortgages
irrespective OF whether the MORTGAGE
was resident In the State or no, and vet
that state mad more foreign capital in
vested IN II than IL could use IL had
peen remarked that II this matter OF
outside mortgage taxation could be
nNed up a cool million of dollars would
ma It's way into the State treasury.
10 make the matter thoroughly fire.
PROOF the speaker had the secretary of
state draw up the bill which contains
the following clause. amending the
state Constitution, which was lnoor-
porated in a joint resolution and adopt-
ed tand mortgages upon land In the
State shall be taxed as property. ir-
respective Of where the owner of debt
thereby secured resides, but the Legis-
lature may provide by law for the ex-
emption Of mortgages when such mort
cages are held on property that Is as
sessed at its full cash value).
The Joint resolution was then put on
final passage.
Before voting Mr.. Langton objected
to the Dill on the ground that Il would
enforce double taxation on q mortgagei
home by causing the mortgagor TO pay
taxes on his mortgage and also on his
mortgaged home because the man who
lent the money would not pay the tax.
lie affirmed that there was scarcely a
farm. In the State Of Utah that was
taxed at over 10 per cent Of its value.
representatives Homer, Anderson.
and McGregor, before voting. spoke i'm
favor Of the resolution. Mr.. Page
moved a 10 o. ~.
word mortgages, these words be added
Trust deeds and all instruments by
whatever name called intended to Sc
cure the payment Of money" The
amendment was lost on vote.
MT. Van Horne was opposed TO the
taxation Of mortgages as raising the
rate Of interest
Mr., Wells moved that the vote on the
resolution be deferred. The motion lost.
Mr. Smith then moved to strike out
section one OF the resolution. which
would have had the effect Of killing II.
The motion lost and the roll call was
proceeded with, resulting In the adop-
ton OF the resolution by a vote Of 81 TO
), smith then moved that the enactlng
clause Of bill No. las be stricken Out.
and the bill was killed.
No ISL was next on the list II IA
aimed at the private bankers brokers,
foreign banks and loan companies. "a
make them pay taxes on what they |
own, Mr.. Glasmann explained that this |
bill was prepared In accordance with |
the Governors suggestion. II was sim |
llai to bill introduced in the Colorado |
legislature, TO defeat which the bankers |
subscribed $4,000. Nine members had |
accepted $1,000 each but the Speaker |
was incorruptible, Mr.. Smith thought /
IL might be apropos TO make a vote of |
confidence In the Utah Speaker. Mr.. |
Glasmann continued that Michigan had |
such a law. To avoid the contingency |
of under taxation through money being |
drawn out just before the assessor ex-
amlnes the bank books. an average OF |
the deposits Is 10 be taken.
Gentlemen Of the Legislature" con.
cluded the sneaker. II have three bills
here that VIII sweep everything clean.
like the so-called taxferrets OF Iowa.
Pass them and we will put 81, 900 900 into
the Golfers Of the State. and this Legis-
lature will go down In history covered
with glory" Mr.. Smith said that the
passage Of the bill would close every
bank In the State. This bill pre-sup-
posed that every banker was a liar.
On motion OF Mr.. Axton the bill was
re-committed 70 a special committee
for consideration. A recess was then
taken till 2 o'clock. The names OF the
special committee viii be announced
during the afternoon.
AFTERNOON SESSION.
The special order of the afternoon
was the vote on the preference for
State or local control az specified re-
spectlvely In Holmgrens and Glas-
manns irrigation bills, so that a bill
might be built up on one basis or the
other.
Mr. Holmgren maintained that local
boards Of control would be able TO set
tie nothing, and would give rise to end
less litigation. There would be no head
and no system In such control. He ar
gued that we wanted both local and
State control. Mr.. Glasmann interrupt
ed 10 say that with local board there
would be as perfect a system ofregister-
Ing water rights as under the state
system. Mr.. Phillips said that his CON
stltuents were against the Holmgren
Dill as being too cumbersome. d. c.
Johnson said that Utah county people
liked tho bill but considered that all
mat was necessary was to conserve
he water which they had-something
10 compel farmers to use a minimum
mount OF water. Local regulation
would suit the people OF Springvlle
better than state. Mr. Van Wagenen
aid they wanted no state control in
Nasatch county and moved that the
clause Of Holmgren's bin be
itricken out Mr. Anderson believed
hat Holmgren's bill was fun of flaws.
)ut as a measure OF some Kind was de
handed IL fright be well to pass that
III Mr. Glssmann moved that com
nittee OF the whole be instructed 10
RAW upon irrigation bill on the
'as.s % state control. The motion car
led ana that settled irrigation bills
o. tho nonce.
When correction Of the minutes was