Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-10

~ LtSdtlOl OF wild lands We're taken
from the table, and on hi; further mo-
tion the Senate non -Concurred in the
reference ana the same We're referred
to the Committee on Taxation.
ON further motion by the same SEN
ator table document %. petitions : III
number in relation to same. We're TAX
IN from the table and re fo rrcd to Com
"littee on Taxation in EOn-concurrence
ON further motion by the same Sen
1tor table document 80. three petitions
ltiating to same matter. We're taken
from the tabIa. and in non -concu,rence
We're referred - the Committee on
Taxation.
On motion by Mr.. Gardner of Pensb-
scot Senate duclinen. No. TAG. being IL.
bin and majority report ought Il
| Lass of tn. Committee on Taxation
on bill relating to taxation Of mort
cages of real estate: also minority re-
Port ought nos to pass OIL same. were
| taken from The table.
| Mr.. GARDNER of Penobscot: NJ.
President. before making Il motion.
Which will be that the tjority report
he accepted. l wish to make a breif
/
| report. Senator Randall of Cumberland
| WAS to be at our hearing. but has not
| been here since We signed our report
| / have letter and Il telegram from
| him, asking that he may be considered.
| in fact. dS on the ma jority report; and
| al It hearing on the same subject mat
toy two wears ago he WIS in favor of
| Il ma jOrity report. With that eNpIana-
| ton | move that the ma iOrity report
Of the committee on taxation be ac-
| 2ted.
AIR. PUTNAM of Aroostook: Mr.
| President. before that vote is taken
| wish to make few remarks The sub
Jcct matter of this bill. which is an old
friend to the Senate and the House, is
| that any loan or mortgage of real es
| tate be exempt from taxation hereif-
Ter, except i'll cases of such loan above
the value of the mGrtgaged real es-
tate. Practically this means that all
mortgages upon real estate shall be eX-
empt from taxation. as it rarely hap
penS that there would be any excess Of
mortgage. ! oppose this bill because [
| regard it as one of the most wicked
| tnd inviciouS measures introduced into
| this Senate i'm the six years | have been
here. | regard il as being aimed ut
the common peOple.-the laborinS man.
THE man who owns a small home. =
firm. and who has no money out at
interest. I regard il as Il bill aimed at
| him. deadly in its effect, and as being
for the benefit OF the wealthy classes,
who are able to loan money on mort
Cages. and reap the benefit thereof.
|
which causes this bill is not that the
present system is unjust. not because
it is Wrnn" to tax mortgages upon
real estate. but it is because those
mortgages are not hunted out by the
municipal authorities. by the assess
orS. and that property is not taxed
| oppose this upon three grounds
| First, because it is entirely theoretical
and not practical. notwithstanding the
faction which has been taken in several
States where mortgages akin to this
arc made growing out of Henry
Georges theory. Second, because ii is
not square deal to the poor man. the
l:;borins man. Third. | oppose it be
cause while il is specialized and
claimed to benefit the poor man. it is
really Il bill presented and backed by
the wealthy men of our State vino wish
by this means to be exempt from tax
alton upon money they ought to pay Il
tax upon.
| Now the history of this bill is this:
Two years ago a similar bill came into
The Legislature. In that bill it was
sought TO exempt money from taxation.
The Senator from Penobscot was upon
| e 49, ion hnt
and he secured a unanimous report
from that committee favorins that bill.
land it was reported back to this Senate.
ard this Senate passed that bill. ] re-
grct to say. without Il dissenting vote.
1t came into the House of Representa-
tives, and there l was a member who
laid it on the table. 1t was assigned for
a hearing we had 4 debate upon it. and
it was beaten in the House by q vote
Of 10 to S. | do not know what the &C
ton of this Senate will be today, but /
do know that this bill will not go
through by default: there will be at
least one vote against ii. if not more;
and hope when it goes through the
| House, if this Senate passes this m
| vidious measure. there will be record
| ed by the House-which is claimed to
| be nearer to the people than we area
| mai ority as large as that of two years
ago against this bill.
Two years ago l examined into this
matter of money at interest, and found
there was probably eleven or twelve
millions taxed in the State. The re-
turns of the State assessors do not sep
aratc money loaned on mortgages on
| real estate from money at interest, so
cannot give figures on the whole
State, but l can give two specific IN
stances. my own town of Horiton III
the northern wilderness is taxed today
about $4,000 for money upon mort
cages on real estate. In two years
there WAS an increase of $4,000 on the
amount taxed on mortgages on real es-
/ - yCl,.at 1-ioldS the TOWN of AQuli on