Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1902-10-08

cry C4blLt1 W III NIaAA fStSS SAANAEh .
upon his equity In the mortgaged prem
ses and no more. If this is right
then inevitably the balance of the
value of the mortgaged premises
should in justic be taxed against
the owner OF the mortgage. This taxes
his, mortgage Is an Interest in the land
and when so Il xed 1t should not be other
wise taxed. for no man should be twice
taxed on the same property.
Frost Bill and Its Veto.
But it is said that l vetoed the Frost
mortgage bill, which would have saved
real estate from double taxation. The
Frost mortgage bill has been made to
face a good many different ways in doing
campaign service for the last year. To
! money loaners it is said that ''the Frost
mortgage bill would have exempted all
mortgages from taxation. If 1t had not
been vetoed" To owners of mortgaged
| real estate it is said that ''the bill would
have prevented double taxation of mort
gagged real estate" To taxpayers, who
| neither borrow nor loan, it is said that l
vetoed a bill that would have taxed all
mortgages"
The Frost mortgage bill was vetoed be-
! cause of its violation Of section l, article
| 8 OF the constitution. which prescribes
! that "The rule Of taxation shall be uni
| form" 1t divided mortgages and mort
gagged real estate into two classes by the
| arbitrary date of January l, 1902, and
| prescribed two different rules Of assess
ment with respect to the two classes of
| property thus created which operated to
| destroy III uniformity OF taxation under
| its provisions. This any lawyer will agree
| would have rendered the proposed law
| invalid and hence a veto became inevi-
| table.
| E,urtharranyo 4ba yro14;ooI nefoo+ 30 +ho
| bill was to exempt mortgages from taxa
| ton altogether and would certainly have
| so resulted In operation II it had been
| constitutional and become a law. 1t
! provided in specific terms for making
| agreements between borrower and lend
er by which the borrower should pay all
| the taxes upon the mortgaged premises
! and the mortgage thereby become ex
! empt from any taxation whatever Ordi-
narily the money loaner's care for his
| own interests will cause him TO make
| every provision necessary for his own
| advantage without legislative prompting
| or suggestion.
Without intending any reflection upon
the author, l have to say that the title
| of the bill was quite misleading While
| it appeared TO suggest the taxation OF
mortgages, 1t would, in fact, have eX-
| empted mortgages from taxation and in
| sured the double taxation of the interest
| VI l0H OWueF VI Tue uluAlEdktu pteAulHtS
as long as the law was permitted TO re
main on the statutes. 1t was entitled.
"An Act relating to the taxation Of
mortgages and mortgaged real estate"
| 1t should have been entitled, "A Bill TO
exempt mortgages from taxation and TO
double-tax the real estate owner in
stead"
1t Is most fttingly characterized in
| the following editorial taken from the
| Madison Democrat. and entitled:
"An Impartial View.
"Conceding that it is desirable that
| the mortgage should pay a portion of
| the taxes on the land. the Frost bill was
! ingeniously devised TO prevent such
| division Of the burden. 1t was bill
| which accomplished just the reverse of
| its pretended object, though its author
was unquestionaby honest in his pur-
| pose 1t suggested to the lends! how to
take his mortgage and not make 1t tax
able He had only to insert a clause
| in tLe mortgage that the owner of the
land borrowing money on it and giving
q mortgage should pay ali taxes and as-
| sessments. Every mortgage ever given
In Wisconsin has contained that pro-
vision; and under such a law as the one
proposed every future mortgage would
contain a like provision. So the bill was
vetoed because it was a promise of
change without change, a reform that
IefT Things as LUey WERE giving VI
stone where bread was asked for.
"Men may differ as to the Justice Of
taxing the mortgage as an interest in
the land, but a bill that pretends to do
so when really calculated to prevent II
is n travesty upon legislation that a
sensible governor should knock IN the
head. This Gov. La Toilette DE- with
a well aimed veto hammer "-A1a 4lson
Democrat.
If All are Taxed Few would Object.
With the complete enforcement Of the
law taxing mortgages and with the en-
actment of a law relieving the mort
gagged real estate from any assessment,
except for the amount OF its value less
the amount of the mortgage, ! believe all
controversy respecting mortgage taxa
ton will cease. Such law / hope TO
see passed at the next session Of the
/ have confidence in the integrity Of the
great mass Of mankind. Men prefer a
line Of conduct which gives them an ap-
proving conscience. l believe that the
holders OF mortgages themselves approve
of the enforcement Of the law taxing
these interest bearing securities. ! be-
lieye they will nail the day when they
can welcome the assessor and list their
property, mortgages and all, knowing
that the law is strictly enforced and
every other man is certain to do the
same No man enjOyes the uncOmfort-
able feelings which much pursue the tax
dodger Sinking support Of the govern
ment which shelters ami protects his bust
ness, his home. his family, Is kind OF
proceeding no man Is especially proud OF.
And Il has only been resOrted TO at sil
By those who have engaged in 1t with the
mental excuse that il was justified be-
cause some other man in the community
Rith q lot Of mort cages did not list theirs
all to the assessor when he called upon
them.
Tax Evasion DemoTalizing.
But there Is another phase Of this
question which presses for consideration
upon every rejecting man. The evasion
Of the taxes on the part Of the posses
sors Of wealth reaches farther than the
mere question Of money. The most seri-
Gus injury inflicted Is 10 the example fur
nished Of disregard for Law on the part OF
the rich and Influential. 1t lies at the