Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1909-01-14

counties. since the county boards have
the best opportunity for scrutinlzing the
bills.
Adjustment of Official Duties.
Much progress has been made In the
adjustment and rearrangment of the
duties or the various state officers and
providing for more perfect accounting
destination every dollar OF taxes or fees
received. The financial transactions OF
the state, large and small are upon u
new duties and responsibilities have been
placed upon the states servants. TO
tighten the burden, we might well go
further by grouping together departments
thought ] would urge these changes;
The department OF public accounts
should be placed under the control of the
secretary of state.
The department OF banking should be
attached to the office of Treasurer OF
state.
The department OF insurance should be
separate and Independent department.
The task OF Compiling criminal statis-
ties should be combined with similar
duties of the board of parole.
All OF these adjustments would be In
the interest or more economical handling
of the business OF the state and would
avoid duplication OF work In many cases.
State Insurance Department.
believe that the state insurance de-
partment should be independent and UNI
der the management of a superintendent
of Insurance, appointed by the governor,
subject to approval by the senate. with
an adequate salary and sufficient office
force This is in line with the recom-
mendation OF the legislative insurance
commission and OF the state auditor In
various reports In the past. IL would be
simple recognition OF the fact that our
Insurance interests have grown TO such
proportions that for the protection OF
the public, and the proper regulation OF
the business, Iowa should get I'm line with
the other states having similar Insurance
interests,
Revising Our Taxing Methods.
There has been growing sentiment In
the state In favor OF a commission 70
investigate our very inadequate laws gov
erning taxation. would recommend the
appointment OF such commission, num-
bering three members especially qualified
Ject To be treated, who should be requlr-
ed TO make report to the next general
assembly. This would cost but n small
are responsive TO the duty imposed upon
them their work would no doubt be
worth many times its cost
Mortgages, Moneys and Credits.
A number OF states have enacted laws
reGSSiirins MORTGAGES ts pqy d,n small re-
with the result that while they have re-
ceived substantially as much revenue,
the burdens fall more equally upon the
well known that mortgages OF all kinds
small tax, and the tax that Is paid Is
generally from those who should not
have the burden placed upon them. ]
believe that under the system ! suggest
rates of interest would be so lowered that
tho borrower would receive even great
or benefit than the lender. owing to the
fact that under cur present system the
lender pays comparatively no tax while
by the change no doubt the borrower
would get q materially less rate. would
statute books a law requiring that nil
mortgages recorded shall pay n fee OF
ono half OF one per cent In excess OF
the regular recording fee as now pro-
yided.
Annual Fees From Corporations.
A bin similar 10 that introduced into
the senate of the Thirty-second general
assembly by Ericsson Of Boone should re-
ouire an annual report from all corpora
tons, or filing fee Men engaged In pusI-
ness seek to avoid financial responsibility
through organization under our corpora
ton laws. This liz desirable and proper
but 1t seems to me that the exemptions
enjoyed Ii OF such value that those who
claim It's benefits should be willing To
pay for the same. This IL no innovation.
doing business elsewhere are required to
pay annual fees In many OF the states.
a law OF this kind would probably add
from $4,000 to $4,000 annually TO our
state exchequer and still be within the
bounds of reason and fairness. ! most
earnestly recommend II for your consld-
GRAFTON.
Direct Inheritances.
recommend direct inheritance tax
substantially In the form of the bill
which passed the senate of the Thirty
second general assembly. This seems to
me fair and equitable proposltion. i
$4,000 OF individual Inheritance, then n
tax of per cent on the second $4,000, and
an additional J per cent on each added
$4,000, until maximum OF per cent Ia
reached, which is TO be applied to all
above $4,000 In view OF the fact that
inherltances are made possible only
through organized society, II seems to me
that the state has right to exact these
small sums which In the aggregate would
add largely to the revenues Of the state
and be from source whore the burden
would be felt less than In any other form.
Taxation of the Liquor Traffic.
The state has law governing the sa-
looms which are legally operated. AT
this time / desire to refer 10 their taxa
ton or license fees. II IL asserted that
IS per cent OF the restitution. crime and
degradation OF the state Is due to the
nefarlous traffic In Intoxicating liquors.
This Imposes upon the people an adii-
tional expense, which Is borne by the
communities where no saloons are toll
Grated as well as by the others, and II Is
only fair that all counties should share
In the revenue derived from nuicting the
traffic. With the thought that the sa-
looms may be reduced in number and be
under better control and surveillance, I
recommend that the law be amended so
as TO require the payment OF an annual
license fee Of $1,000, divided 80 that one
third goes to the municipality, one-third
tc the county and one-third to the state.
With the present number OF saloons this
state tax would amount to about 100000
annually. and this should be set apart 10
be used for permanent road construction
and other public improvements as con-
ttemplated IN, connection With the state
before referred to. ! believe that with
substantial unanimity the people OF Iowa
would indorse a measure OF this char
acter.
Assessment OF National Banks.
Under the revised statutes OF the
United States the stock ~ nationcl banks
credits but to large degree they escape
taxation. You should memorialize the con-
eress to permit assessment and taxation
of national banks the same as state and
savings banks in the state OF their loca-
ton. 1t seems impossible for us to
change our system and II II manifestly
unfair that banks organized under our
laws should be taxed on their capital
and surplus while sister institutions, en-
loving special advantages. should be per-
United in many instances to so scot free,
Trust Companies.
There is growing demand in Iowa for
financial institutions which arc capable
Of handling the larger financial trans
actions OF our people, especially in the
negotiation OF bonds and stocks Of iarge
corporations. There is also real need for
home companies that can act AS trustee,
administrator or guardian In probate
matters. I would recommend law max
ing II possible 10 organize and establish
trust COMPANIES, keeping In mind that
the demands Of society REQUIRE greatest
care for the protection OF the people. A
short time ago II was called to my at