Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-24

/ SdSeS tHe proponents vi
the original proposition wished to do
| away with double taxation. and decided
that as they had been defeated in the
House on that specific proposition. to Of
fey this other. which has received much
encouragement and many suggestions
from members OF the other body who
voted against the first draft. 1t was sug-
gested that at this time an amendment
of the bill might meet the approval OF
those who rejected the original draft.
| ] think I am frank in saying. as I am
honest in saying. that I believe enough,
members of the present House of Repre-
sentatives have stated frankly and freely
| that they would vote for the proposition
to tax mortgagor and mortgagee-that is,
to tax the lenders money; and enough
support has been assured this measure so
that there is little doubt. unless techni-
| calitieS on the matter of parliamentary
| procedure should obstruct it's passage.
that this bill would be very likely to pass.
| Now. without going into discussion of
the technicalities of the bill. this propo-
| sition is that of the Massachusetts law
| to tax mOrtga ges and loans on mortgaged
real estate reduced as best we could in
the time we have had to meet the condi
l
and it is in substance a statement that
mortsagor and mortgage shall be joint
owners in the property in which they arc
interested. and that that mortgage held
by the mortgage shall be taxable as real
estate in the locality where the real es-
| tate is.
Then the bill provides that the interest
| Of the mortgage shall be taxed. and it
also makes them joint owners in that real
estate-and it is substantially the Massa-
chusetts law. with the changes which the
law of this State requires.
| Now. gentlemen. as I see it. and as !
said. many parties who are interested IN
| tax reform see it, in this State We are
now carrying out a law which is double
taxation. and which especially works in
| Justice and hardship against the small
| borrowers Of this State makes savings
| banks the favorite investment. which IN
| veStmentS are relOaned to favored mdi-
viduals and not the common peOple-thoSe
| who are interested in tax reform nave no
| particular notion that they must insist
| on tn" original draft, nor have they any
| favorite method. but they wish In sub
stance to get at the same rroposition-to
do away with double taxation
| The position they argue is one of preIu
| dice: they have argued that the original
draft exempted the rich man from taxa
ton: they have argued the constitution
atty of such a bill. and labored and lob
bed in the House to work on prejudice
to defeat the original proposition.
I am going to state again that the pro-
ponents of this idea of relief from double
| taxation. so far as l can find. are not
selfish. nor have they pecnnary interest
in this matter; and 7 want to state to the
senators here that it does not make Il
cents worth of difference to me or my
property whether the bill passes or nor.
I believe the original draft was bet
ter way to get at it. and I firmly believe
the passage of that law would have
been better but I am going TO
ask the senators here to vote for me on
| the proposition to adopt this rev draft
as an amendment to the original bill. in
| order to satisfy the fear of many that
the original bill was a rich mans meas
ure. 7 am going to ask the senators here
to adopt this bill as an amendment. and
| then vote to refer the whole matter to
| the next Legislature, and | will explain
briefly why.
| In the hurry of drafting a bill which
| would meet the approval of those who
feared that the original bill was 4 rich
mans measure. we were obliged to ir.cor-
porate the Massa chusetts law. and change
1t to meet the requirements in this State.
1t was matter of great Importance
matter of great deal of technicailty. and
| for that reason at the conference last
| night Of those who favored reform in
| the matter of double taxation. and who
| favored the original bill. and who ar"
only anxious to urge some method of fair
| taxation. it was decided to refer this mat
ter to the next Legislature.
In view of the fact that ii is a COM
| plirated method of arriving at the re
suit. we did not feel justified, at this
late time. even though having some
| chance of success in passing the bill.
| We did not feel justified in urging the
passage of law every question of
| which. regarding it's operation and re-
| suit we could not specifically, definite
| ~ and honestly answered: and for
| that reason. while we believe there is
nothing improper in this. and while
we believe it will result in all the ben
| Gifts we hope for. we are going to ask
that this matter be referred to the next
Legislature; and that then. as thi'
matter has been heard and discussed
| sill over the State. that then the peO-
| pie of the State through their repre-
| eentatives and senators here may de-
| eide whether tax reform is due this
| state. do something to relieve the
operation of the present law of double
| taxation: and ! ask the Senate here.
first. to adopt this amendment. and
| then that we take proper steps to re-
| fer this matter to the next Legislature.
| Mr.. PUTNAM of AroOstoOk: Mr..
President. 7 rise to a point of order.
| The PRESI DENT: The senator will
state his point of order.
| Mr.. PI'TNAM: My point of order is
| this: AS I understand it. the present
status of this Senate bill, No. 1i6 is
| this: 1t came back to us from the
| committee to the Senate some two
| weeks ago reported to this Senate in
| the form of two reports. the majority
| repor; after some debate i'm this SEN
ate was accepted; and the bill was
passed to be engrOssed. 1t then went
| dow, IN tho House Of REPRESENTATIVES,