Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1904-03-16
MORTGAGE TAXATION vs.. MORTGAGE Elk.
EMPTiOR.

Having DeeD accused, Dy Mr. PROCTOR,
of malieiousy stating that he did not
vote for Governor La Toilette at the
last election, and also saving that he
was examined before the board of re-
view in 1902, | submit the following;
1t has never been and is not now my
purpose to willfully misrepresent the
facts with reference to anyone. In my
former article | merely stated that 81
had been informed" that Mr.. Proctor
was before the board Of review and that
another attorney was employed to cross
examine him with reference to the mort
gates which escaped taxation. Ii now
appears that Mr.. Proctor was not exam
| ined before the board and, / cheerfully
acknowledge that / was misinformed.
| The statement was made by me in the
utmost good faith. However, Mr. Proc.
tor says that the board was informed
! that the mortgages were not subject to
taxation, and the fact is that g. w.
Graves was employed and paid by the
city to examine certain witnesses before
| the board in 1902 at which time Mr.,
| Proctor was city attorney. In any event
| the mortgages referred to in my former
article were not taxed. As TO Mr. Proc
| tor not voting for Governor La Toilette,
| he now informs me he voted the straight
| Republican ticket, and his word is suffi
cient Ny statement WIS made in the
utmost good faith ana | supposed there
was no question from Mr. Proctor's own
admission. After the meeting of the
| board of trade last winter, at which
| time the railway freight rate resolution
was passed, certain democrat called
| Mr.. Proct0r's attention to his apparent
! inconsistency for having voted for Gov
ernor La Toilette, the platform, the
primary election law etc etc. and for
voting ;, the board of trade meeting to
| tie the hands Of the governor and the
administration and TO prevent the enact
ment into law of the platform declara-
tons. Mr.. Proctor replied that he made
no secret of the fact that he did not
vote for the platform. 1t was inferred,
o. course, that he did not vote for the
governor. How could ne vote against
the platform and for the governor? [
will gam take him at his word and ad.
nit that : was honestly mistaken in as
sorting that he voted against the COVER
nor. Mr.. Proctor explains now that he
meant he did Got vote for the platform
in the convention. No one has ever
yet accused him uf being in the last
state convention In the conversation
mad with the democrat gentleman re-
ferred to no mention wes made of state
convention.
But we have wandered from the sub
lect of mortgage taxation. Now for
word with reference TO Mr. Proctor
last article on mortgage taxation. The
authorities cited were but reitera.inp
Of the same authorities used in the bulle-
tins Of the taxation department of the
National Civic Federation and especi.
ally those cited in Bulletin No. /. This
bulletin was used extensively last win
ter by the stalwart memb ers Of the legis
Iature in support Of their bill to EXEMPT
ALL MORTGAGES, NOTES, BONDS, CRED.
ITS OF EVERY KIND FROM TAXATION
Had this bin become q law the great
burden OF taxation would have been
placed upon the farmers farm and the
merchanU stock. Dr. Porter told Us a
week or so ago in his excellent article
that his taxes were more than 10 per
cent. Of the income Of his farm. Had
the stalWart credit exemption bill be-
come q law his taxes would probably
have dc.bled. II the money loaning
elem at Of the county bring about the
lee al enactment Of their theories ex-
e.npting all credits it will be q sorry
Jay for farmers, land owners, wage
sarners who own their little homes, and
all others who have property in sight
and who make their living by hard
work. The proposed legislation is clear
ly in the interest Of the capitalist class
They are far better able to pay taxes
than any other class and yet they seek
and their adherents gr2yely argue that
their wealth should be totally exempted
from taxation
do not care to prOlong newspaper
{ tscussion but certain statements con-
tanned in booklet recently issued so
eTtiy cover the history of this mortgage
tax legislation that / quote portions of
the same, as follows
TAX COMMISSION FAVoRs ExEMPT1NG
MORTGAGES FROM TAXATION.
When the legislature of 1903 assem-
bled, to the very great surprise Of the
people Of the state, the Tax Commission,
in its report TO the legislature RECON-
MENDED TIE EXEMPTION or MORT
CAGES and ALL OTHER FORMS or GRE
DTS FROM TAXATION Tt Is due 70 A.
sistant Tax Commissioner Haugen to
say that lie refused to join in this re.
commentator, and vigorously dissent
ed therefrom.
GOVERNOR LA TOILETTE FAyoRS TAX
ING MORTGAGES BONDS AND ALL
CREDITS.
Notwithstanding the position taken
By the tax commission. Governor La
Toilette in his message to the legisla-
ture on January 10. 1903. URGED THEI
TAXATION Of MORTGAGES, NOTES,
BONDS, and other intangible property,
and strongly recommended legislation
to prevent the further injustice Of DoU.
BILE TAXING the OWNER or MOBTG AG-
I'D PREMISES. He said
with the Fapld accumulation OF wealth. the
increase Ia the amount and value or intangi.
bic property but strengthens year By year
th1 reason and the justice Of its taxation In
some form. That vast denominations Of
wealth may be invested Ia interest. bearing
securities. iusuring large Incomes to She hold
ers who throw their share OF the expense OF
maintaining streets and schools and pU bic
institutions, and all tho burdens or municipal
and state government upon the owners OF
factories aud shops and stores and farms and
homes, q fDLtTCs EVERY pRiSClpLE cor EQUAL.
RIGnrS AND EQUAL RESPONSIBILITIES GUAR
ANTEEp 70 EACH AMERICAN CITIZEN.
HoW TO TAN THE MORTGAGE AND
AVOID DOUBLE TAXATION
W,th respect to MORTGAGE AVIATION, which
it Is 20 be remembered represents only part
90 the vast amount % intangible property
subject to taxation, 81 f. not so dlmcutt 90
discover and secure She assessment OF the
properly Interest reprCS 9utCd by the mort
gage. This may be easily done by assessing
the mortgage as an Interest IN realty, and
providing That II tte tax levied thereon be
not paid by the owner of the MORTGAGE inter
gagged property and deducted from the amount
Of the mortgage dttt As oo PIECE ot ta Nahle