New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-02-03
MORTGAGE TAX PROTEST
REAL ESTATE MEN SORE.
Vigorous Protest at Mass Meeting
Representing Entire State.

Nearly FIVE hundred members of the Allied
Real Estate Agents organized last year and
bracing every county in the State. held a mass
meeting at No. IA Vesey-st yesterday TO pro-
test against the Mortgage Tax law. Henry w.
sprague Of Buffalo. presided.
In calling the meeting to order Mr. Sprague
said there was a general feeling against the
law throughout the State. He read a letter from
Mayor Adams of Buffalo. in which he said in
part
I am emphaticaly opposed TO the Mortgage
Tax law 1t never should have been enacted.
Public sentiment here in our western section
OF the State is overwhelmingly in favor of the
repeal of the law the earliest possible mo-
ment of the present session of the legislature.
The law has not even Accomplished the real
purpose of it's enactment. the raising of substan-
tial revenue for the State. and what it has done
has been at the expense Of the borrower and
failed in it's just operation. but has worked 70
the detriment of -ebtors already heavily bur
dened with their obligations.
Robert w. De Forest. former Tenement
House Commissioner. said his chief interest in
the law in regard to its application TO the
tenement dweller. Although the tax is. accord
ing the statute. paid by the lender, he said
that ultimately the burden of it falls on the
tenement dweller in the form of increased rents.
He said in part:
one of the lines of investigation prosecuted
by the recent Tenement House commission was
10 why tenement house population was
crowded into Manhattan. and did dsperse
itself over our outlying boroughs. which could
be reached usually at the cost of a single car
fare. 1t was ascertained that these seemingly
insignificant Carfares were potent factor I'm
determining the workmens choice. The line of
division between wages earned and family eX-
penses paid is often narrow that every raise
in rent even = il be only measured by car
fares, counts.
Watson T. Dunmore. of Utica. said he was
opposed to the ortgage Tax law because it
was double tax and has materially increased
the rate Of interest which the borrower is conf
PEELED 10 pay. He said h. was further opposed
10 it because the burden falls upon those least
able bear it.
The discussion treated from judicial
standpoint by ". y. Cohen. former justice of
the Supreme Court, who said in part:
It behooves the legislature to repeal or change
the present law. hut that would he a mere tenn
porary and passing relief. II is the duty Of the
legislature to appoint commission, so that
there may he attempt at decentralization OF
the tax laws of this State on scientific basis
What there is is 4 mongrel hodge-podge for
which there is no excuse for State that makes
any claim TO intelligence or civilization.
J Brock Perkins of Rochester said among
other things:
All taxation is bad. Every dollar that the
public treasury gets comes out of the pocket OF
some man who. a rule could II much
| better than the State does But some taxation
We must have, and the wisdom of the legislature
! should he shown in selecting the least injurious
Wisdom only noticeable for its lack when
| the mortgage tax was approved.
A resolution was adopted recommending to the
| Legislature that law requiring a recording tax
| Of y Of per cent can be passed in lieu of all
| other taxes on mortgages.