The Montgomery advertiser., 1903-01-27
Letters to the Editor.
THF NEW MEAsuRE.

| V s l Prattville. AA,.. January 24, 1903. Editor The Advertiser:
 Please allow me, as an humble citizen and taxpayer of Alabama, to protest, against that part of the revenue bill. pre- pared by the Governor. Auditor and At torney General and presented to the Leg islature for adoption, which. if adopted, sor wou,d tb impose "stsmp or privilege tax. s. Noo or fractional part thereof, on all notes, mortgages, bonds and all instru- ments representing money loaned or oth- CT evidences, of debt" Now, l have the aignest regard and respect for our Gov ernor. Auditor and Attorney General, and Know that in preparing this proposed new revenue bill, as directed by the new Constitution, they have acted conscien- stiously and have recommended in 1t. what they believe Is for the best interest ot our people and the State; but in my humble judgment, a stamp tax of 10 cents on Ine $lO0 or fractional part thereof on all notes, mortgages, bonds and other ana burden our people. The stamp tax law which resulted from our civil war. was exceedingly annoying; and our peo- ple greatly re5oiced when 1t was repealed. Moge recently, the stamp tax on notes, mortgages. bonds, etc, which was placed upon our people by Congress to pay the expenses of the Spanish-American war, was very annoying and bill after bill wac ittfOuuCtu HI congress IO Tcpedl II, until 1t was finally repealed year or two ago. The repeated efforts to repeal stamp tax laws on notes, mortgages, etc.. are strongest proofs of their burdensome na- ture; and no revenue law is more unpop- ular with the masses of the people than stamp tax law In fact they arc looked upon as war measures" or means of last resort, to raise money to defray the expenses of wars; and should never be rssorted to in times of profound peace. InGn. after the Federal CnnQraSG had gently been kind enough to repeal the Spanish-American war stamp tax on notes. mortgages, etc, shall the Legisla- ture of Alabama put much more bur nensome stamp tax upon our people in time of profound peace? I hope not. Second-Why is there a necessity for such law? Our recent Constitutional Convention, composed of 155 of the ablest, wisest and best men in Alabama, after a most careful investigation into our fnan- cial condition. decided to reduce the State tax rate under our new Constitution from 70 cents to 6 cents on the $100. Certain ly they were in close consultation with our present State officials in making that investigation. and perhaps made the re- uuction to 65 cents with their knowledge and approval. Surely, neither contem- plated that reduction of 10 cents on the xlO0 In the tax rate would so cripple the States finances, as to force the Legisla- ture to burden our people with trouble some and excessive stamp tax on all notes. mortgages, bonds, etc. If 1t was wise in the late Constitutional Conven- tion 70 reduce taxes, certainly it will be unwise in the Legislature. to increase them.
 Third-Where does the burden of this stamp tax on notes, mortgages. etc., fall neaViest! We see at a glance, that it falls upon tha borrower and the poor, wno must give notes and mortgages to obtain money to make crops and use in their business affairs. Under the former rate. the 10 cents per 500 fell on proper ty; and the well-to-do, the wealthy and those who had the most property, paid the most taxes In other words, the bur oens Of taxation. if any there were fell more heavily on those who had the most property, and were therefore, best able to bear them. But the 10 cents being talk en or, their burdens are made lighter; and shall the deficiency, or loss in rev enue. be made good by a stamp tax on notes, mortgages, etc, which must be paid by the borrower and the poor? The money lender does not pay the costs of executing notes, mortgages, etc, and re- cording the same. These expenses are paid by the borrower; and the stamp tax the universal rule of all money lenders, almost without exception, to charge ali such expenses up to the borrower, or make him pay them in advance; hence thls stamp tax of 10 cents on the $100 or fractional part thereof on all notes, mort gages. etc, Is but another burden upon the borrower. The money lender is in the position to make the borrower pay for the stamps and he must do 1t, or fa'l to get the loan. Besides, our banks, business men and money lenders in cities and towns. will be annoyed in stamping notes, mortgages. etc, and in trying to keep supply of stamps on hand; while our country people will be put to greater inconvenience. in many instances, by not having the stamps on hand at a time when they need them.
 Now, in conclusion, wish to state frankly that l am a loyal supporter of our present State administration and supported 1t in the recent primary. I do not impugn or question the motives of our most excellent Governor, Auditor and Attorney General; but I honestly believe that the stamp tax in the revenue bill, if enacted into law, will be a heavy bur den upon our people which, perhaps, they did not foresee from the borrowers standpoint. I fear, too, that it would make their administration unpopular with the masses of our people. if enacted into law.
 Yours truly,
 c. S. Livingston