Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1911-03-16
RADICAL CHANGE PROPOSED IN
METHODS OF TAXING MONEYS
AND CREDITS.
MILEAGE TAX IN LIEU OF
ALL OTHER ASSESSMENTS
Sill Would EquaIizs Discrepancies Be-
tween Various Localities Of State
Houss Votes in Favor of Employment
Of State Fire Marshal-Ce Luxe Eai-
tions at State Expense Condemned by
Senate.
Specila to Times Republican.

SPeeila to Times Republican
Des MoineS, March l6-The senate
mas sent tor special order tomor-
row morning the bill which was in
TACT prepared by a joint sub commit
tee OF the two ways and means COM
m.ttees relating to the taxation OF
moneys and credits. Tie Lill provides
for a special form of taxation of
moneys aad credits and that they shall
be
Taxed upon the uniform basis thru
out the state OF Ave mills On the dollar
! of actual value, same to be assessed
and collected where the owner resides
/ Ihe rnillage tax here provided for shall
! De in lieu Of all other taxes upon
! moneys and credits. ard the anlounl
collected in the various taxing dis
tricts shall be divided between the var
ions luncs upon the same pro-rata
basis as other general taxes collected
! in such district All moneyed capital
within The meaning OF section 52l9 re-
vised statutes of the United States
! shall be listed and assessed against
dence, and If a corporation at its prin-
1 cipal place of business, at the same
rate as state, savings, national bank
and loan and trust company stock is
taxed, in the same taxing district, and
at the actual value of the moneyed
capital so invested
The great Importance of this bill has
become recognized thruout the state
ard members are receiving letters and
kilograms regarding the same. 1t will,
II adopted, effect a revolution in the
manner OF taxing moneys ard credits,
not only as to equalizing the discreD-
ancies between different localities bur
leveling the rate of taxation, and es-
pecially reducing the taxes paid in the
cities Of the state
The house recanted of its determi-
nation to turn down the manufacturers
and jobbers Of the state in the matter
of special law for notice to creditors
in the matter Of sales of stocks OF
goods in bulk, and after having once
defeated the bill took it again and
passed 1t after much debate. The bill
in its present form Is said to be about
as mild and unobjectionable as such
bill could be made and merely requires
fling with county officer a FIVE days
notice of intent Of sale, but does not
require fling a list Of creditors nor
the formal notification of creditors.
The house passed bill to appropr-
ate out of the general funds of the
state for the next two years the sum
OF $4,000 for the support of a de-
partment at the head OF which is to
be a state fire marshal, with several
deputies inspectors and assistants and
a clerical force. An effort was made
to have the bill amended SO that the
funds instead of coming out Of the
general fund Of the state shall be Sc
cured by tax on the premiums paid,
as in all other states where fire mar
shall is maintained, but the house
would not consider this. 1t was ex-
planned by friends OF the bill that the
sole purpose of the bill was for the
protection Of the fire insurance COM
panies and in securing better condi-
tions as TO fire losses. The fire marshals
| will have great power in seeing to 1t
that the best conditions prevail, and
they will have great influence also in
unifying the entire business in the state
and providing that rates are substan-
TALLY the same
/
| The senate formally approved the
| plans Of the state board of education
| for the construction of $4,000 wing
to the hospital at the state university,
work on which has already been COM
/ menced
Judge NJ. j. Wade and others ap-
peared before the senate judiciary
| com fnttee yesterday and argued for the
passag e OF the bill to enlarge the state
supreme court TO nine members. They
fss-or the bill which merely makes a
| large supreme court, without dividing
it into appellate and supreme divisions,
and virtually leaves the matter of di-
vision Of work to the court itself. "The
conditions are such that we must have
! a larger supreme court said Judge
| Wade THE members of the bar realize
this and hope the legislature will give
us the relief. The work to be done Is
too important for US to permit Of work.
| ing men to death as we have been do
ing"
Under the Produfoot resolution the
senate will appoint committee to join
with national committee in under
/ taking to arrange for celebration Of
the centennial OF peace Ietwssii Great
Britain and the United States. 1t is the
plan to have some sort Of international
celebration that will signalixe the fact
that the great English speaking nations
have lived in peace for a full century.
| 30
| The senate set It's seal of condemna-
! lion on the custom of comm issi0ns and
|
state Of Ohio, city Of Toledo, Lucas