Herald and news. [volume] (West Randolph, Vt.) 1878-1943, 1904-02-18

! interest of justice and humanity we
/ are urged to make haste slowly
: Real estate is largely the basis OF
: our grand list, and this basis must
] ever be ample and reliable My boy
/ hood home stood in the list in 1866 at
t 1926, and was sold about that time
J for nearly $4,000. New barns have
/ been built on the farm since that time,
and the house repaired and modernized
and the premises are set in the list of
| 1908 at $3.50. The permanency OF the
value Illustrates the working of the
abominable tax laws, that We pray to
} have changed.
We claim that both real and person
, al estate expressed in its actual value
in dollars and cents should he the base
on which taxes should be raised. Mr.
Cobb claims that the mortgage is no
owner. Also, that "until breach OF
contract and deliberate adjudication
put him in possession of sufficient part
of real estate TO satisfy his claim, he
has no more or other rights therein
than any one.n Query Does not the
MORTGAGE own the best title to the
premises? Cannot he sell and convey
that title without consulting the mort
4 gagor? Really, has he not more
rights in the premises than You or Up
Let us reason on this statement. If
a man rents farm and cuts wood and
timber from it and sells the same and
converts the proceeds to his own use
without the consent of the owner. by
process OF law he can be estopped. for
he does not own the premises. He is
only renter. A man mortgages his
farm for 81 900, and proceeds to cut
and sell timber from the place, thereby
rendering the property OF less value
the MORTGAGE, the man having the
best title, can restrain the mortgagor
by process Of law as surely as the man
renting a farm could be restrained.
And again the mortgagor has changed
his status from being the owner OF the
premises to that of renter. and tbeI
amount OF rent is allowed 10 - 500.
A mortgage reads the s9uv as deed |
up TO certain point. The premises
are as well and fully described him
self. bis heirs and assigns are as firm
~ bound and the instrument covers |
all the points necessary 10 a full, com |
plete and final cession OF the premises, |
with one reservation only, viz, the |
mortgagor or vendor of the premises |
has inserted in the body OF the instru-
ment an option that. If he shall well
and truly pay. or cause 10 be paid, the
specified sum in the conditions thereof,
he may do so, and become proprietor
of the premises again. Query Does
not the capitalist put his money into
the farm as surely and certainly when
he receives deed containing an OPP
ton in favor o: the grantor to re-pur-
chase as he does when he puts money
in farm and receives a deed contain
ing no such optionp
Evidently the law recognizes the
MORTGAGE as the real owner of the
premises, and to prevent any mis-
understanding that might arise in
the matter of taxation, section 369
Vermont statutes. which we quote,
may further strengthen our position -
at real estate is mortgaged, the mort
gagor shall, for the purposes of taxa
ton, be deemed the owner thereof
until the MORTGAGE takes possession
after which the MORTGAGE shall be
deemed the owner The mortgage
has invested no more capital In the
premises, but the mortgagor has va
Gated them, and has ceased TO be a
renter.
See. 1863 does not affirm that the
mortgage shall prove title in the
court OF chancery before the taxes
may be assessed to him. 1t is evident
the law was the product of a man
whose fertile brain was devoted TO
the subtle science OF finance. The
farm was the property of one
man for the purpose of taxation and
OF another man in fact
As to double taxation, Mr.. Cobb saws
there are certainly two sides. This
statement we accept as a lamentable
fact. One party does not pay his fair
share of taxes; the other, the less
able to pay, pays more than his share.
When this evil is righted there will
cease TO be two sides to the prop
osition.
He closes his able article with this
familiar quotation, Let us look be-
fore we leap Thousands have looked
In vain for relief, and not finding II.
have leaped beyond the confines of
the state; and we advise the thousands
that remain, to look before they leap.
but leap.
My plea is for the poor and op-
pressed; and | am well aware that
that is not the popular idea, among
those who cater to the wealthier
classes; but there are some men who
fearlessly take up the cudgels of ius-
tice, and bravely proclaim equal
rights under the law and to such n
tender my heartfelt thanks.
JOHN H. SPRAGUE, East Brookfield. VT.