Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1904-02-18
THE EVER-PRESSING SUBJECT OF TAXATION.
Reply Mr. B. Cobbs Recent
Conn Interesting Suggestions

| would tax all the WealJn IN all tue
state, but place some OF the wealth
in some of the towns that belonged
to another town, and such a change
| in our laws would create dissatisfac-
ton and open a new trade between
| the mortgagor and mortgage, and
fear result the same with us as il
did in California, as shown by Thomas
G.. Sherman, the most accomplished
advocate OF the .'single tax" idea, in
an argument favoring his pet theory.
| will quote it:-"ln California
the constitution and laws were changed
in 1880 so as to tax more severely per-
sonal property. The object was to
compel San Francisco to pay much
larger share of the state tax. The
result, however, was that under the
new system, San Francisco paid one
fourth less and the rural districts paid
one-sixth more.n
Furthermore, should we adopt the
California method, it would be neces-
sary to change our whole tax code.
To fully explain, | beg space to quote
abstracts from their new constitution
and the revenue laws of California.
"Article NH, Sec. |. All property
in the state not exempt under the
laws of the United States shall be
taxed in proportion to its value. The
word property, as used in this article
and section. is hereby declared TO
include moneys, credits, bonds, stocks,
dnes. franchises and all other matters
and things real, personal and mixed,
capable of private ownership; pro-
vided that property used for free pub
lie libraries and free museums, grow
ing crops, property used exclusively
for public schools. and such as may
belong to the United States, this state,
or to any county or municipal cor
poration within this state, all nut
bearing trees under the age of four
years from the time OF planting in
orchard form. and grape vines under
the age Of three years, from the time
of planting in vineyard form, shall be
exempt from taxation, but nothing
in this code shall be construed TO re-
quire or permit double taxation.
.'Sec. Nv. A mortgage, deed of trust, !
contract, or other obligation by which,
a debt is secured, shall, for the pun /
pose Of assessment and taxation, be |
deemed and treated as an interest |
in the property affected thereby. The |
value Of the property affected by |
such mortgage, deed of trust, con-
tract or obligation, less the value of |
such security, shall be assessed and |
taxed to the owner of the property. !
and the value of such security shall /
be assessed and taxed to the owner
thereof in the county, city or district
in which the property affected thereby |
Is situated"
To illustrate one case where il would |
conflict: A buys farm. hires money
from savings bank and gives a mort
gage. A pays tax on the property, !
less the security, the balance is taxed |
10 the savings bank, but the bank |
has already paid a state tax which |
makes double taxation again. This |
Is only The beginning of difficulties. |
think and believe the amendments |
rs printed in the issue OF Dec. 3 will |
not conflict with anything but Mr.. |
Johb's views and | wish to say with |
and the kindest feelings |
hat although | am not personally |
acquainted with him. | have UNI
respect for his honor, good |
Judgment and ability, but | wish |
o remind him that it was unjust taxa
ion and the retention of that Sd per
pound duty on tea, athat figment of
tax" THAT peppercorn rent that
sOst the British their American colp-
lies, and II he insists on "that pep
Dercorn rent" he is an enemy of the
Door man and am his, and shall do
III ! can to aid in tipping his tea into
Boston Harbor.
,. n. BACON, Chelsea, Feb. s, 1904.