Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1911-03-17
DANkGRs or eTATE lombard.
ING seNArG CONCERNING
TAXATION MEAsuRE.
OBJECT TO PROPOSAL 70
LEVY TAX ON SANK STOCKS
W;llins Money and Credits Shall Have
Flat observation-disclosures to Have
Say When Location 81 New hsaehin.
cry Hall 10 Decided Upon-ls0isla.
tive News.
,ecial to Times-Republican.

Dies LMOtneS, March 17-The senator's
are accommodating a very fine lot OF
kilograms and letters from bankers.
owners of bank stock. clearing house
associations. etc. It Is harvest time
for the telegraph companies. The oc-
casion for the excitement is the bill OF
the committee on ways and means to
revise the laws, at least q little ways.
as to taxation OF moneys and credits.
Practically all the bankers who are
using telegraph wires agree that it ID
all right to fix up plan for taxing
moneys and credits generally at fiat
rate and probably they do not object to
the Ave mill rate in lieu of the 10, 20,
40 or 20 mills that prevail in some
places; but what they do object to
most strenuously is the inclusion in
the bill Of a scheme for taxing the
shares of all stock of banks and trust
on the same basis. The bill
includes a plan whereby the shares of
all banks, including national banks.
are assessed as moneyed property or
investm ents. the shares being assessed
at the place Of business, and without
any provision whatever for the deduc-
ton Of debts or the deduction Of nom
taxable bonds. The bill will. of course.
be fixed up In these regards before 1t
reaches the governor.
The house is willing that the state
shall continue the making of appropri-
atoms for permanent improvement Of
the state fair grounds along the line
of the policy entered upon some years
ago and passed the bill to appropriate
$4,000 for the next two years. The
hnpSo hnx DO ct no
the manufacturers association should
have a preference as to the location Of
the machinery hall which is to be con-
structed. There will probably be no
trouble on this score. as the general
plan for the permanent Improvement of
the state property has been well worked
out.
Upon the vote to sustain the COM
mittee report for indefinite postpone
ment Of the prohibftory amendment
resolution. Senator John d. Brown, of
Decatur county, one Of the veteran re-
publicans Of the state. made this ex-
PLANTATION Of his vote, which went into
the record:
II am Of the opinion that the state Of
Iowa has the best liquor laws Of any
state in the union. Each community.
under the law. has the authority to
decide the question Of the sale thereof
in an orderly manner. I would not vote
to take away a single feature Of the
law under which the sale Of liquors
would be forced into communities OPP
posed thereto and will vote for al
legislation which will promote true
temperance.
"As a republican am fearful that
the injection into our political contests
may result in the turning over of the
legislative authority to our. opponents
who I believe are less likely to pro-
tect the temperance laws than we
are"
The old night for uniformity in bills
OF ladinS and to make such bills ne
sotiable at the banks IL scheduled for
the senate at an early date A bill of
this kind has been before several lesis-
latures. It is understood the railroad
and shipping companies object to such
law but the banks generally want It
for their own protection. Some years
ago an effort was made to secure lexis-
lation in q number Of states for uni
formity and this Is being gradually
worked out. The argument for the
whole plan Is that Of charging the Held
Of credit and facilitating transaction of
business.