The Kemper herald. (Scooba, Miss.) 1875-1908, 1906-03-22
The Tax ON Money.
jackson, Miss, March IA.
Editor KEMPER HERALD.

uCNcOA9 HAioSse NANtNh
Editor KEMPER HERALD.
Dear Sir: l have received some
petitions numerously signed by
some OF our best citizens asking
me to vote for the exemption OF
money loaned at 6 per cent inter-
est, and also asking me to vote
to exempt money on deposit IN
banks from taxation, and as !
can not conscienti6usly do 80, |
beg leave to offer through your
columns my reason Tor my posi-.
ton.
I think that all kinds of pro
perty should be taxed equally
and that money. like other in
vestments, should bear its just
proportion OF the burden OF the
government. The Constitution
OF the State says that taxation
shall be equal and uniform in the
State and all property shall be
subject to taxation.
1t has been construed by the
courts that the Legislature may,
in its discretion, exempt certain
property from taxation; but this
decision is contrary to the spirit
OF the Constitution, and I think
that the decision announces a
powertRst the Legislature should
not haveS and I propose to ad
here to the spirit as well as the
letter of tie Constitution.
tits in the discretion of each
mdiyiduaE as to what form OF
property he will invest his earn
ilfgs, and if he thinks that money
is better than land, livestock.
railroads, or merchandise, why
let him store up his earnings in
dollars, but let him bear. his just
proportion OF the burdens OF the
government. Equal rights to all
and special privileges to none, is
a good rule of governmental
policy.
1t is argued by some that this
will cheaper money, and will
therefore be tor the benefit of the
poor who have to borrow money.
Is this the fact, or is it one OF the
delusions that now and then take
possession of the best of US? |
think it is a delusion. Money
is lent on the best interest posi-
Bile and the elements that are in
volved arethe risk and the rental.
1t is not always the best policy
to borrow money, and that will
not be done unless one believes
that he a make more than the
interest on it. 1t you should Dor
row money to buy property with,
you would have to pay the tax
on your property that you bought
and would not be benefited by
making the loan. The man who
lent it to You would be the only
beneficiary of this law. You
would not only have to pay the
tax on your own property, but
would have to pay your pro rata
OF the tax that the lender should
pay, for the tax would have to be
collected from somewhere.
Every piece of property that is
exempted raises the rate on other
property not so favored By ex
emption. This proposition is but
the entering wedge OF special
privilege that places the burden
ct the government on one class,
or rather exempts one class OF
people from the burden of gov
eminent. One business is en-
gagged in that is more hazardous
than another for the reason that
the per centage OF return is
greater. | AN u~nalterably OPP
posed to ENGRAVING tavors in the
law. Let those who fancy that
the poor will receive the benefit
pause and consider we'll before
they favor by law one class at the
expense OF another. | would like
to see business prosper, and mon
ely plentiful, but l feel snre that
class legislation will not bring
prosperity to the masses. Let US
all have the same show SO tar as
the law is concerned.
Yours truly,
GEO. III. ETHRIDGE.