The Birmingham age-herald., 1903-01-24
ILL DISCUSSING
 TIE REVENUE BILL
Prominent Citizens Strongly Oppose Stamp Tax Feature
A BURDEN To BORROWERS
Large Amount That Customers of the Birmingham Banks Would Have to Pay In the Coming
 Year.

Business men and bankers continue to comment unfavorably on the stamp tax feature of the revenue bill, which was in- troduced in the legislature last Wednes- day. Merchants, real estate men ana others who have borrowed money from the banks on short time paper call att tention to the burden that the proposed tax would be on them.
 A banker stated yesterday that the loans made by the banks of Birmingham during one year would cost their GUS toners in the way of taxes about s5O,OOO if the revenue bill passed in it's present shape.
 Interviews with prominent citizens fol- low:
 A. L. Fulenwlder.
 A. L. Fulenwider. president of the Blr- mingham Realty company-I believe the bill would result in being a burden upon the class of people who can least afford the additional tax. It means that any man who desired to acquire lot or home would be forced to pay the tax, as would necessarily be the case. The tax would not come from the man who loaned the money and held the mortgage, but from the borrower. Such tax would fall very heavy on the small borrowers. The large corporations or the money lend CTS would pay no part of the tax. but the borrower would have to do so.
 No other state, I believe. has law providing for a tax of this kind, and such tax Is levied by the United States government only in cases of emergency. At present the state of Alabama does not need any tax levy of this character.
 w. J. Dangaix.
 W. J. Dangaix, president of the Birm- ingham Savings bank-I just returned to the city this morning and have not exam ined the proposed measure carefully. On the face of 1t, however I should consider the bill an objectionable one. The tax of 10 cents per s100 on all notes. mortgages and other evidences of debt will have to be paid by the one least able to stand 1.-the borrower.
 T understand the measure was especial ly. designed to reach the capitalists out side the state, but of course it will not do that, and if 1t did it would only add more items to the long list of discourage ments which the state has already placed on outside capital"
 S. w. Lee.
 s. W. Lee of Alabama Grocery com pany-I am very much opposed to the tax as proposed. It is unjust and unreason- able, and furthermore there is no neces- sity for It. N iSn the federal government
 af passed the stamp tax law during the Spanish American war every one was willing to pay his part because 1t was looked upon as a patriotic duty since the country needed the money to carry on the war. Alabama is not in such pressing need of funds to be compelled to re- sort to this extreme measure.
 John L. Parker.
 John L. Parker-I am opposed to such a measure. The merchants and business men have enough taxes to pay now with out additional burdens being imposed upon them, I think the legislature should think twice before passing such bill. J. L. Yancey.
 J. L. Yancey--I hope the bill will not pass, as we had enough of the Spanish American war tax, and aside from the expense it was very troublesome and an- moving. I think the whole country was greatly relieved when the tax was abol- ished.
 The burden will fall on the class least able to stand it. the borrowing class of people.
 It seems to me sufficient revenue could be raised to pay the expenses of the state If judiciously managed without resorting to the stamp tax, which will be certain from past experiences to be very unpop- ular.
 R. E. Collins.
 R. E. Collins. of Collins & Co.,, whole sale grocers--I am opposed to the meas ure tooth and toe nail and you cannot express my disapproval too strongly.