The Marion daily mirror. (Marion, Ohio) 1892-1912, 1907-07-27
CLASSIFY PROPERTY
Or. w. /. Chamberlain Favors just
Taxation Amendment.

Taxation Amendment.
At the June meeting of the Tax
Commission of Ohio, DR.. w. !. Cham
berlain, editor of the Ohio Farmer, dis
cussed the subject of taxation as fol-
lows:
The farmers have felt that the old
constitution, taxing all property on
a uniform Jasis. is essentially Just,
and that the question of double taxa
ton might be adjusted by taxing the
farm, less its Indebtedness. But the
history of Sc years has proven that
the thing Will not work, and mat the
farmers themselves are the sunerers.
AS one Of the editors OF the Ohio
Farmer, appear before you to give
the views of its owners, its business
management. its editorial stan and u
majority of Its subscribers.
To be successful tax must not
only be just and reasonable; 1t must
be cUlectable. II rsust be so reason
able that even the toughest conscience
will not dare evade IL. For example,
IN Cleveland the savings banks pay 4
per cent and the tax rate is nearly 3
per cent but based on valuation OF
real estate of about one.third OF It's
value and of personal property consid.
deposits were taxed at full value that
would leave per cent interest for de.
positors Such tax Is unreasonable
and can not be collected. | repeat
that any tax to be wise must be col
lectable and must produce reasonable
revenue, must not be prohibitive III
so high as to drive out not only for
eign capital, but home capital also,
they not only produce no revenue, but
greatly injure our building, manufac.
turing and other interests as well. All
will admit that this is not wise. A
majority of the taxes attempted under
the constitution OF 1851 on invisible
and intangible forms of property Is
not and can not be collected, and II
seems to me unwise to try longer to
do II.
suggest the following principles:
Tax all property annually where
found, once, and and only once, at "a
just and fair rate. Avoid double tax
alton by not attempting TO tax mort.
cages and other representatives. Of
value, at usual rates, as actual prop
erty In case of mortgages the matter
will adjust itself between borrower
and lender IN lower i@erest rates. The
history Of So years proves the imprac-
tlcabiiity of trying to tax the property
less the debt, and tax the lender Let
us abandon the attempt and tax the
property alone. | would favor such
an amendment to the constitution as
will permit a just classification of all
property of various kinds; | would
have all evidences of debt recorded
with the county recorder or the town
ship treasurer to be legally collect
able with a record tax OF one-fourth
or One.half OF / per cent. This be.
cause the evidences OF deSt rests IN
property that has already been taxed,
and this record tax Is simply TO pay
for their right of access to our courts
and protection by our military and
civil officers. Tax all valuable fran
chises and public utilities whose value
rests wholly or mainly upon the con-
centration OF population. on the true
market value of their stocks but not
of their bonds. The stocks represent
what the companies own, the bonds
what they owe. / would recommend
reasonable tax, say One.half or one
fourth OF | per cent on savings de-
posits, collecting the tax from the
banks on their published and sworn
statement OF total deposits: The So
ciety for Savings, Cleveland has over
S51. 100000 of deposits 1t pays per
cent. If this small tax were collected
the bank would pay its deposltors 3R
per cent or 3A per cent, thus making
the owners OF the property pay for its
protection. This Is simply one bank
of many similar ones In the state.
doubt the advlsability OF attempt TO
tax commercial deposits. These arc
usually of short duration. the bank
pays no interest on them and the de.
posltors can not be reached through
reducing the rate Of interest. Savings
bank deposits are largely invested In
mortgage loans on real estate since
this realty pays taxes, to attempt to
tax these deposits ut regular city
rates would not only be double taxa.
ton, but quadruple, and utterly i'm
possible of collection
DR.. Chamberlain also favored Ia.
come and inheritance taxes.
To secure reforms recommended
requires the proposed amendment to
the constitution, or similar one, and
] therefore favor some such amend
ment because the present constitution
does not fairly or equitably apportlon
the burdens OF taxation and the farm.
ers have suffered the most. In the ad.
justment OF details, the farmers. own
Ing about one-half the tangible prop.
erty OF the state will claim the right
TO be heard. and also representation
on tax commissions