The weekly chieftain. [volume] (Vinita, Craig County, Okla.) 1905-1913, 1911-02-17
DOUBLE TAXATION IN OKLAHOMA

states. for the Inauguration of an inn Ii
proved system of taxation, was ex- {
,eptional. The people of the infant L
were only too eager to {
be rightly led in this as in many other
They were receptive OF all
new ideas in government. They had
iivested temselves very generally OF
bid preiudices in their new government.
They were desirious of founding state
in which equity should play at least an
equal part with law. But their leader
ship was not always wise, and they /
made some serious mistakes at the /
very beginning, the results of which
they are still feeling keenly. One of ,
these was the enactment by the first
legislature of a law placing a tax on
mortgages, says the Christian Science
Monitor.
The presumption on the part of the
friends of this measure was that the
money-lender would be compelled to
pay back to the people some part OF
the interest money he exacted them.
Hebrein, of course, was the tunda-
mental mistake. 1t has never worked
out as planned. Local capitalists have
either taken account of the mortgage
tax in making loans, thus compelling
the borrower to meet it, or have sent
their money outside the state where
| it could find free investment. In this
way hundreds of thousands OF dollars
that would have been invested in the
state annually have gone to borrowers
in other states. But even without
these results-even if Oklahoma with
IFS great advantages had still remained
a profitable field for investment-the
principle of mortgage taxation would
have been wrong, inasmuch as it means
simply double taxation for the land
owner who borrows.
A movement led by members OF the
Oklahoma Bankers association may
eliminate in the repeal of the measures
Politicians and newspapers and busl'
ness men of all parties have been made
to see at last the harmful nature OF
such legislation. Oklahoma will find
stream of capital turned toward II
I From the speech of William McKin
lev before the Marquette club in Chi
| cago while he was governor of Ohio
February u, 1896, on Abraham Lin
{ coin:
; at requires the most gracious pages
: in the worlds history TO record wha
one American achieved. The story o
: this simple life is the story of a plain
t honest, manly citizen, true patriot, ant
, profound statesman. Who, believing
t with the strength of his mighty sou
in the institutions of his country, VOL
r because of them the highest place il
/ the recommendation fell preciou
v sacrifice to the Union he loved SO dear
t which Providence had spared his lit
o long enough to save.
4 What were the traits of characte
t which made Abraham Lincoln prof
6 and master, without a rival, in tn
i greatest crisis in eur history? Wha
e gave him such mighty power? To m
the answer is simple Lincoln ha
$ sublime faith in the people. He wall
| ed with and among them. He recogni
$ ed the importance and power of a
D. enlightened public sentiment and wa
q guided by it. Even amid the Weiss
o ltudes of war, he concealed little frol
II public review and inspection. In a
\. he did he invited rather than evade
" examination and criticism. He su
10 mitted his plans and purposes, as ft
al as practical. to public considerable
le with perfect frankness and sincerit
+? There was such homely simplicity
~ his character that it could not be he'd
ed in by pomp of place or ceremonial
re of high official station.
" "He was so accessible to the publ
IS that he seemed to take the whole pc
pie into his confidence. Here, perhaT
he was one secret of his power. tt
n. people never lost confidence in hi
a however much they unconscious
added to his personal discomfort a.
ct trials. His patience was almost sup'
no human: and who will say that he W
mistaken in his treatment of the the
m sands who thronged continually
ID him? More than once when reproaC
st ed for permitting visitors to cro'
he upon him, he asked, in panied 81
he prise: What, what harm does Il
cd confidence in men do me? | get or
re- good aspiration from it.
ar-
!, uo1AcE GREELEY SAID: