Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1902-10-21
MAYOR ROSE VISITS VAUSAU.

upon mortgages.
The last legislature by section I Of
chapter AS, created new Office in
each county of the state known as the
county supervisor of assessments. =
He is elected by the county board of
supervisors, and is given full and com
plete supervision and direction of the
work of the town. city and village as
SCISSORS of the county, He is, required
to report annually to the county board
aud to file copy of his report with the
state tax commission. The county sup
ervisors of assessment are placed under
the supervision aud direction Of the
state tax commission. while the state
tax commission is in turn directly ac-
constable to the governor.
These county supervisors of assess
ment are nothing more or less than in
4Sisitors, given power to hold inquisi-
tons upon the people of their respective
coEnties as well as the town and vii
iage assessors.
These county supervisors of assess
ment in almost every county in Wis
consin have insisted upon the taxation
of mortgages
If taxation of mortgages operated as
a tax upon the capital represented by
the mortgage, it would present a differ
ent question, but the application of this
law in practical effect has precisely the
contrary results, and effects tax upon
the property covered by the mortgage.
Through the activity of these inquisi-
tors the old law that had become obso-
lete from long disuse was revived and
put into operation With what result
Have general benefits aecured ? Has
greater uniformity been obtained Far
from it, On the contrary, it has re-
suited 10 a species of double taxation
most burdensome to those who can least
afford to bear it and who, under the
rule of uniformity and equality, should
be exempt from it.
Real estate is required to be taxed to
its full value, and mortgages upon that
real estate are likewise required to be
taxed, and here is effected the double
burden.
The farmer who owns his farm, or
the laborer who owns his home is taxed
to the full value of his property. Then
if perchance through misfortune or adj
versity that property is incumbered by
mortgage, the mortgage. is likewise
taxed.
Nor is this the worst feature of this
condition.
While presently the owner of mort
gage may be required to pay the tax
upon that mortgage, when the mort
gage natures and the new loan is APP
piled for to succeed it, the interest rate
will be increased to include the tax; or,
a provision will be inserted in the mort
gage requiring the borrower to pay the
tax, and in either event the tax will not
be paid uron the, capital represented
by the mortgage, but by the borrower
who is driven by force of circumstances
to carry the incumbranee.
Surprising that the owner Of home
stead desires to borrow money with
which to go into business and for that
purpose places a mortgage upon his
home. In that event, under Mr. La
Follette's reform vagaries, he would pay
a tax upon the full value of his home,
another tax upon the mortgage and
another tax upon the business. Is this
just taxation
One of these two results will follow,
or if the lender cannot obtain upon a
rate of interest satisfactory to him he
will send his money to some other state
where his mortgage will not be subject
to taxation, and in that manner capital
will be driven away from us.
La Toilette cannot hide behind the
old law that has been resurrected. He
cannot plead ignorance nor defend
himself by attempting to cast the bur-
den of the responsibility upon the legis-
lature
There was introduced in the last legis-
lature, by Assemblyman Frost, bill
that provided for a separate assessment
of the mortgage from the real estate,
and provided that the mortgage should
be assessed separately and the amount
of the mortgage deducted from the as
sessed value of the real estate.
This bill passed the legislature, but
was vetoed by the governor, and this is
a sample of equality which we may ex-
peet under his theories of tax revision.
There is one truth that may be taken
as verify and effective method of
levying and collecting tax upon cap
itai and that is by national income
tax law. That law can only be defeated
by hiding capital and Withdrawing it
from investment so chat it shall be I'M
productive of income, and this will
always be the exception instead Of the
rule, fnr capital is always hungry.
With law of this kind in force taxa
tion cannot be defeated by sending
capital from one state to another for
investment. for in whatever state it may
be invested the income that it produces
is subject to taxation under a rule of
perfect nm iformity.
Mayor Rose dwelt at length upon the
the s-aay of game wardens who have
beer overruning the state the past year
and made many happy hits, also paid
his attention tc LaFollette's primary
election law, and concluded with a
splendid word.picture of the city of
Milwaukee, over which ne has been
mayor going on three terms. He
showed up that city's advantages its
industries, institutions Of learning, pub
lie buildings, etc The speech was fire.
quently applauded and was certainly a
vote getter."
At the conclusion Of the speech a re-
ception for half an hour or more was
4 L n .