Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1909-01-12


laws governing taxation. would rec.
ommend the appointment of such
commission, numbering three mem.
bers especially qualified by their gen.
eral knowledge OF the subject to be
treated, who should be required to
make report to the next general as
sembly. This would cost but small
sum of money, and If the commission.
ers are responsive to the duty i'm
posed on them their work would no
doubt be worth many times its cost.
Mortgages, Moneys and Credits.
A number of states have enacted
laws requiring mortgages to pay a
small recording fee in lieu Of all other
taxes, with the result that while they
have received substantially as much
revenue, the burdens fall more
equally upon the holders OF this class
of property. 1t is we'll known that
mortgages of all kinds and character
pay but ludicrously 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 the
borrower would receive even greater
benefit than the lender, owing to the
fact that under our present system
the lender pays comparatively no tax,
while by the change no doubt the Dor.
rover would get q materially less
rate. would recommend that you
place upon the statute books law
requiring that all mortgages recorded
shall pay fee of one-half OF one per
cent in excess of the regular record.
ing fee as now provided.
Annual Fees From Corporations.
A bill should be passed similar to
that introduced into the senate of the
thirty-second general assembly by
Ericsson Of Boone to require an annual
refund from all corporations and q
filing fee. Men engaged in business
seek to avoid financial responsibility
through organization, under our cor
poration laws. This Is desirable and
proper. but it seems to me that the
exemption enjoyed is Of such value
that those who claim its benefits
should be willing to pay for the same.
This is no innovation. for we find that
our corporations when doing business
elsewhere are required to pay annual
fees in many Of the states. A law
Of this kind would probably add from
one hundred and fifty to one hundred
and seventy-fve thousand dollars an
nually to our state exchequer and still
be within the bounds of reason and
fairness. most earnestly recommend
1t for your consideration.
Direct lnheritances.
recommend a 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 prop
osition. 1t provides for the exemption
of the first ten thousand dollars of
individual Inheritance. then q tax Of
one per cent on the second ten thous-
and dollars, and an additional one per
cent on each added ten thousand dol.
lars, until maximum Of Ave per cent
is reached, which is to be applied to
all above fifty thousand dollars. In
view Of the fact that inheritances are
made possible only through organized
society it 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 a source where the bur-
den would be felt less than in any
other form.
Taxation Of the Liquor Traffic.
The state has law governing the
saloons which are legally operated.
At this time desire to refer to their
taxation or license fees. 1t is asserted
that IS per cent of the restitution,
crime and degradation Of the state is
due to the nefarious traffic in intoxi-
eating liquors. This imposes upon the
people an additional expense, which
is borne by the communities where
no saloons are tolerated as well as by
the others, and 1t is only fair that all
counties should share in the revenue
desired from mulcting the tranic.
With the thought that the saloons may
be reduced in number and be under
better control and surveillance, rec
ommend that the law be amended so
as to require the payment of an an
nual license fee Of $1,000, divided 80
that one-third goes to the municipal
ity, one.third to the county and QUE
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 to be
used for permanent road construction
and other public improvements, as
contemplated in connection with the
state highway and conservation COM
mission before referred to. believe
that with substantial unanimity the
people Of Iowa would indorse a meas
use of this character.
Assessment Of National Banks.
Under the revised statutes OF the
United States the stock Of national
banks Is now assessed as other
moneys and credits, but to q large
degree they escape taxation. You
should memorabilia the congress to
permit assessment and taxation of
national banks the same as state and
savings banks in the state OF their
location. It seems impossible for us
to change our system and 1t Is mani
testify unfair that banks organized I'M
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