The Richmond Virginian. (Richmond, Va.) 1910-1920, 1912-12-01

(This address by Mr.. Brown was
one of the features of the number
made at the fret annual dinner OF
the Richmond Real Estate Exchange
last week. In 1t the speaker details
the most important of the reforms
which the exchange has set about
to accomplish for the benefit of Rich
mond--the repeal of the double taA
on real estate mortgages. Mr. Brown.
who liz the father of this plank in the
exchanges platform, has made study
OF the subject. and. explains the pur-
poses and scope of the movement
which has already gained much
ground--in comprehensive man.
ner.)
BY LEROY r.. BROWN,
OF the Real Estate Exchange.
In this world, two things are alb
soiuteiy certain, to-wit: Death and
taxes, and the barbarous way the
latter is imposed upon the citizens of
this State. has become SO burden
some, there is only a very slight DIFF
ference In the two. Taxes are a
necessary underlying principal OF
government. and almost as ancient
as man himself. One of the earliest
tax levies on record. was as we read
in the good book, when Aaron levied
q tribute on the children of Israel TO
build the golden calf and calves and
cattle have been taxed ever since. ex-
cept Ia some counties OF this State.
where they are barely listed for
- taxes, and considered almost worth
less until you go to buy them, being
listed ~ about $3.50 per head. and
later on. we are commanded in the
same good book to render unto
= Caesar the things that are ssae@sSs'ss
ami ii ts part of good citizenship
for every man to pay his part of just
taxes. but while 1t may be legally right
20 pay an unjust tax, It's moral obi
cation 70 do so, is so strongly doubt
ed, that many In the State are with
holding their returns. The just tax
no good citizen should avoid, but I'M
Just Iesies should be protested In
this latter class, / am sorry to say
Virginia today is exacting from LIS
citizens many taxes that has long
since been abandoned as unjust by
many OF our sister States. and should
be In this.
The lad vaIorom" tax on deeds
of bargain and sale, and deeds of
trust. Is unknown and unheard of in
other States. tnd should not be en-
forced in this For a much less
cause. an interesting ten party was
held In Boston some years back, that
lost to great Britain her American
colonies. and brought on the Revo-
luton This "ad vslorern tax Is one
of the things we should not render
unto caesar" and I wish had time
10 give you the result of a recent
invest cation of our real estate ex-
change. On this subject.
The greatest injustice that is Inn
posed upon a so-caiied free people,
by the State, Is the obnoxious. unjust
10 al
tax. that not alone affects the pros
porous man, but reacts against the
poorer class and extends It's baneful
influences to the laborer, the me-
chanic and the farmers. We have
not. nor do we propose TO agitate the
abolition Of this unjust tax. from the
harrow bounds OF professional or
selfish interest. but beyond the in
dividuai interest OF the real estate
broker As we know and will show
II affects directly or Indirectly the
welfare OF our entire State. It's a
double taxation of the most gIaring
and grossest kind and has proven
no obnoxious that State after State is
repeating or modifying 1t. The great
Empire State of New York has a
mortgage tax OF only one-half OF one
per cent or FIVE dollars, on the thous-
and. collected only once. and is the
only tax during the life of the mort
gage. and Is collected when the
mortgage is recorded. Compare this,
n. you please. with the tax Of $3.50
per thousand exacted annually by
Virginia. In answer to Inquiries made
by our exchange, Michigan writes
her taxes are the same as New
York" Colorado writes. 'that she
hos no tax upon her mortgages"
Minnesota the same as New York.
The Minneapolis Real Estate Board
writes. The law is regarded very
favorably, under the old law. no
mortgages apparently were held by
resilient owners" Under the new law.
great deal Of local money goes
into mortgages. IL Is easier to bor-
row, and great advantage to both
the borrower and lender" New Jer-
Tey has no mortgage tax. Florida
has more. Omaha. Neb.. writes. "it
IL considered a double taxation and
not ceiiectihle.. Ohio. some say,
none" In Sandusky the real estate
board writes, ut has a municipal tax
OF from forty cents to 81 per hun
dred. Columbus none Cleveland
more and adds. that recent efforts to
amend the constitution to tax mort
cages failed" So complex and con-
fusinx fs - Interpretation Of the law
or lack OF Jaw In Ohio. that a great
tax league has been formed. and IT'S
camraign literature has been scat
tered throughout the state In an effnrt
TO reform their tax law. the prin-
ciral claim being that tax-free mort
cages viii be of universal advan-
tage.
Massachusetts has no mortgage tax
law. The real estate board OF Bos-
ton writes, such a tax is the worst
principally on the small holders. The
freedom from taxation In this state
has caused the lowest rate on such
leans anywhere in this country. Mary
land has no tax law. Texas has enc,
but the writer say mo one Is foof
enough to pay them Now, why
should Virginia. that boasts OF free
dom and claims to be the land Of
chean and easy living. that invites
the worid to enter In and partake Of
ita riches, hamper. throttle and
choke capital by her obnoxious tax
laws?
Money and Capital.
The. yefy thing sne nesfs most.
ana makes the greatest efforr to OBJ
tain. shy should she impose this
ttsAen On her childrcM who. ~
fceatinao1 ~ geesud laga.1