The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1903-10-01

Is done to lessen the shares of the
counties in payment of the state taxes.
The result is our cities are running
themselves to exploit Alfred Kelley's
ideas. If the public service and pub
lie corporation taxes were given to the
state the counties could control their
own valuation and taxes, as they
should do.
Farmer Perkins-Was II not intend
ed by Mr.. Kelley that this 81 O5S. .4S6,-
219.4S excess interest should have gone
to the state as taxes?
Lawyer Thorndike--This was his in
tention. and that is the policy Of the
law, but the money never went to tie
state, but has gone to the creditor
classes to pay them for a risk which
they avoided.
| Farmer Perkins-Is there any way
to ascertain the excess interest paid
by debtors in Ohio by reason of the
declared intention of the state to tax
mortgages and credits in the ten years
past?
Lawyer Thorndike-Yes, there was
| 1898, ,226,65S mortgages, excluding rail-
road mortgages, recorded in Ohio in
the 10 years from 1893 to 1902, both
years inclusive. OF these years the
secretary of state left out Hamilton
county in 1893, 1894, 1895, 1899 and
| 1900, five years. Knox was left out in
| 1894, 1895, and Pike in 1895. Restoring
these amounts to the list, from the
| best sources of information, at S34.-
| 697S47, would make 1927 1924 sos in
mortgages recorded each year for 10
| years. The excess interest for the risk
of the mortgages being taxed is esti-
mated at ~ per cent. This would
make the excess interest for 10 years
paid by debtors in Ohio to creditors.
for the risk of taxes SIG .23S ,67S.74, but
| this is only on the mortgages reported
| recorded each year. These may con-
servatively be estimated at SO 1-3 per
cent of the entire number of mortgages
in force each year Consequently it is
certain that Ohio debtors have in the
10 years between 1898 and 1902 paid
S3S,716,0 0S4.76 in excess interest for the
principles of taxation of Mr. Alfred
Kelley appearing in the constitution,
without being enforced. Surely the
taxbearers in Ohio must be made of
the stuff of the ancient martyrs.
Farmer Perkins-Then the people in
Ohio in the past 10 years have carried
mortgage Indebtedness of So, 7S3, ,733,-
515? How much of this was reported
for taxation for the same period?
Lawyer Thorndike-Not over one
third, as the statistics in the auditor
Of states report, and those in the re-
port of the secretary of state, show.
From 1897 the annual return of the
entire personal property in the state
has steadily diminished as follows:
1897, 500, 9,227.416; 1898, $93.847.553;
1899, S9O.1S5,764; 1900, $50 997 ,SO4;
1901, SS2,668,533 1902, SSO,028,41I.
Everyone knows the true ratio was
the other way but when so per
Gentum of the credits in the state are
not returned for taxation those who
are compelled to return personal prop
erty diminish their returns rs much as
possible.
Farmer Perkins-Is there no way in
which the amount of interest unneces-
sarily paid by the citizens OF Ohio
from 1S47 to 1902, both years inclu-
sive, can be estimated?
Lawyer Thorndike-From 1857 to
1902, both years inclusive, the mort
cages recorded in Ohio each year of
all those years, aggregated S2,956, ,150,-
7S3. No statistics were preserved be-
tween 1847 and 1857 but it would be
safe to put the mortgages recorded
from 1S47 to 1856, both years inclusive,
at $1G0, ,266.07, which is so per
centum of the amount in the follow
ing decade. This would make the
whole amount OF mortgages recorded
in the period, i. e., 1S47 to 1902, $3,116,-
965 ,999.57. One and three-fourths per
cent of this is S701, ,317,274.9 excess in
terest, which the debtors Of Ohio have
paid their creditors for the taxes,
which the state never received, but
which made the rich that much richer
and the poor that much poorer. Let
the tax be taken off mortgages and
credits and in the next 81 years more
than that much will be saved to the
debtor class.
Seven hundred and one million three
hundred and seventeen thousand two
hundred and ninety-four dollars and
fifty-seven cents is a large sum to pay
for maintenance of a principle which
is barren ideality and which can be
entertained, preached and believed
but which can never be carried into
execution.
Farmer Perkins, have no reason
to doubt your premises or conclusions.
but just to think that my fellow farm
ers and | and other citizens have been
paying $7O1,317, ,294 in a period of 81
years to compel the town and city
folks to pay their taxes on moneys and
credits, and that they have never paid
them, while we have paid over $780,
100000 to compel something which 81
years of effort has not accomplished.
think the comic papers are justified
in carlcaturing us to their hearts con-
tent. see now that it is to our in
terest as a class to support the taxa
tion amendment, regardless of politics
or previous condition of prejudice or
ignorance.
II You don't obey your mother you'll
obey your step mother.