Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-06-09
ATTACKS IOWA TAX METHODS.
Henry vollmer Says That Our Tax
Laws Are Hodoe Podue of Rascality.

t7enry voIIrnef 0ayS lhaI OuF an
Laws Are Hodge Podee Of Rascality.
Des Moines, June 9-"Taxat1on as
now practised by us is a grotespue
| hodge podge of folly and rascality"
| This is what Henry Vollmer of Dav-
export, attorney-at-law, gold democrat
ex-mayor and once candidate for con-
gresham from the Second district, told
the Iowa Bankers association at its
closing session at the Eiks' club yester-
day. He advocated the establishment
of the income tax and the exemption
of money and credits from taxation as
the remedy.
Yesterday ans even larger repre-
sentation of bankers thronged the as
sembly room than the day before and
the number of registrations reached $50,
and the convention was voted by all
odds the greatest the association has
ever held.
There was no session Thursday af-
ternoon and the time was spent very
pleasantly in a visit to the army post
where the bankers witnessed special
regiment drill, by the courtesy of Col.
e. D. Thomas. In the evening the
bankers made record-breaking audi
ence for the season at lngersoll park,
where $50 seats We're engaged for the
visiting financiers, their wives and
friends.
Mr. Vollmer's paper was of unusual
interest, and judging from the applause
with which it was greeted, expressed
the general sentiment of the bankers
present.
After citing examples of the difficult
ty experienced in taxing personal prop
erty, the. speaker took rap at the
tax ferrets, stating that a large number
of wealthy people had left the state In
consequence of the attempt to enforce
the tax on moneys and credits, and that
large amount of money which mas
been invested in Iowa farm mortgages
was now being invested in northern
lands and less stable ventures.
When" he said, 1.-The investment OF
private earnings in gilt edged securi-
ties produces to the owner only about
per cent and when in a city like
Davenport, the city, county and state
taxation proposes to take fully IL per
cent on the real value, amounting to
an income tax of per cent do not
L
more from his benighted subjects.
Symptoms, however, are at hand to
the effect that moneys and credits In
the state are going to disappear from
vision. The widows and minor wards
in chancery, where their funds are ex-
posed to probate reports, are unable TO
protect themselves, but means of evad-
ing even the stringent provisions of the
present law are so numerous and SO
easy for the man of means that 1t Is
only a question of time until the old
state of affairs will prevail again
Among the methods employed for es-
Gaping taxation of moneys and credits,
Mr.. V6llmer cited: Allowing trust
disclosed owners; refusal of savings
banks to disclose names of depositors;
fictitious Indebtedness, and the conver-
sion of moneys into United States
bonds prior to January 1.
"In this way" he said, "the employ
ment of the so-salled ferrets usually
results in mulcting the moderately en-
dowed middle class who do not own
enough to organize methods for cir
cumventing the law. The weak ana
defenseless, and the thrifty. saving
middle class, who should receive the
protection of the government, are the
ones punished"
The speaker said the exemption of
moneys and credits would not, work a
hardship on land owners for with the
evitably follow, the value OF land would