The Evening statesman. [volume] (Walla Walla, Wash.) 1903-1910, 1907-05-23

Levi Ankeny, ..16,180.O0 2,3O5.O0
T. c. Elliott. ....... 4.595.00 Nothing
Lettuce j. Reynolds $4,000 Nothing
Frances Dooly. -. O.SOO.00 1,625.OO
H. C. Baker ........ 19,715.O0 Nothing
Clara E. Baker. 100000 285.00
o. +. Cornwell " 100000 Nothing
G. P. Gardner ...... 100000 Nothing
Green & Jackson 80. $3.50 Nothing
Whitehouse Craw-
ford & Co. ...... 100000 Nothing
M. D. Dwelley -. 215.00 1000
This list does not contain more than
a fair sample of the favored few.
Everybody knows here that it repre-
sents mostly our wealthiest citizens.
Who pays the bill? The small house
holder and farmer; the little man with
all he has in this world in sight In
order to meet this deficiency the mill
levy must be made higher: we must
go to the highest limit allowed for
municipal purposes. This law goes
step farther than the single tax the
DRY, because under that way of doing
the little mans house was exempt at
least co. but, says yesterday. this law
will cheaper the interest charge. 1t
will bring cheap money into the
state and the farmer and borrower will
get lower rates of interest" Anyhow.
says he. "the borrower pays the tax
on the note and under this law he
will escape that" Beautiful theory,
isn't it? Regular Bryan idea of the
money question. Let us see. An inter-
est charge of money lOaner is gener-
ally based upon supply and demand Of
the money market and he usually fig
ures out that the supply is little
short Of the demand. The rate is just
all he can get. Taxes on money has
never: figured in it. If it did then in
teresr in the state of Washington
should be now lower than it was before
the act passed. 1t has had time to be
felt If there was any good in it, but
as a matter of fact since the passage
of the act the interest rate has been
higher. Strange. isn't it? The fact Is,
that such talk is high sounding only
and made for the purpose of lobbying
through some measure successfully.
Again, if yesterday would admit that
one per cent reduction in the rate
of interest in the state would be
handsome thing for the borrower: that
hereafter those who contemplated
loaning their money at say nine per
cent. were under this law going to in
sist upon charging but s: that the
borrower, hereafter will save all of one
ner cent on his loan by reason of hav-
ing no taxes to pay on his note. l say
that in order to make up for the
shortage in the tax roll Of this city it
would take a loan of s6.OO0,O0O per an
mum, and I don't think these people
loan that much money each year.
But of what benefit. hidden though
it be, is this theory even to the men.
thousands of them. who do not find
any occasion to borrow money? None,
Ell? Well, on that ground alone why
should he be called on to help pay an
other mans bill? And further if this
bill was intended to cheaper interest,
lower it one fourth of a cent. 1t is
now in order for the man who Dor
rowed money before the passage of the
bill to come forward and claim his re-
bate Do you think, now that the
money loaner has no taxes to pay this
year on his paper, making a gain
thereby of $6O00-he will give the
borrower the Denent Oh II.
The more the question is studied.
the more one is convinced that what
is needed is not so much legislation
to relieve the nominal mans condition
and to keep him from paying too much
taxes as there is for some help for
those who are the lfters in this tax
ridden state.
1t is a mistake to exempt anything.
Even the $500 exemption on household
furniture innurs mostly to the benefit
Of the rich rather than the poor. Every
assessor will tell you this is so. 1t is
a mistake to exempt colleges. not state
institutions. They get along about as
we'll as any other class of taxpayers in
the state.
What is the remedy for all this
Here is one: Pass law giving to
the county assessors of the state the
same rights as the United States bank
examiners, with reference to national
| banks or the rights given to internal
revenue collectors in the state. Make
| them STATE officers if you will. give
| them more power than they now have
see to it that the salary is sufficiently
attractive to insure the services of &
competent man and make his tern
four or six years. not eligible for
second term. He will get all the pop
ETY. subject to taxation in the state
| there will be no favored few and the
burden of taxation will fall so light,
i on each that no one will be hurt. NJ
prophetic spirit is necessary to fore
see the consequences of the passage o
such exemption laws as these guilt!
as they are Of excusing the capitals
from payment of taxes.
How it is possible to strike from tn
roll the big sources of revenue at tn
same time create commissions Of mel
in the state with handsome salaries
| increase the salaries of others alread,
large enough, without resorting to al
most confiscation of the small man
holdings, is, it seems to me, beyon'
common reason.
! Respectfully.
WALTER, L. CADMAN