New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1912-09-28

cludlng all structures thereon b>
immigrants into the State who oc.
cupy said lands as homesteads
from local taxation for a period
not to exceed ten years, and this
by two-thirds vote in number
of all of the taxpayers qualified
including women resident tax
payers. OF course. the purpose
of this amendment is to enable
communities to encourage new
industrial enterprises and immi-
grafton in their sections.
Another amendment, intro
duced by the writer, has for pur-
pose to exempt from taxation any
corporation which will be or
ganlzed in this State for the sole
purpose of lending money on
mortgages on country property
alone at a rate of interest not
to exceed six per cent net to the
borrower. These corporations
are not to receive moneys on de-
post or to do any Banking bust
ness, and should they violate the
obligation with reference to the
rate of interest by charging more
than SIX per cent, they would lose
the privilege accorded them. It
is evident that the people Of the
country Parishes have long re-
CURED some facility in the mat
ter of borrowing on their lands
for long terms at a reasonable
rate of interest; and inasmuch as
these companies must make these
mortgage investments exclusive
ly ON country lands and not on
city property, that the benefit of
the proposition to the property
holders of the country is mani
fest.
Another amendment, offered by
Senator Favrot, exempts from
taxation all money in hand or on
deposit The people of this State
realizing that money should be
made cheap, have freed from tax
alton money loaned under mort
gage. Experience Of all civilized
countries is that it is impossible |
to tax money, and that if there
were a serious effort of doing so
it would result in money being
withdrawn from circulation and
held concealed so that it would
be beyond the reach of the tax
gatherer, to the evident detri-
ment of the development of the
country.
Another amendment, offered,
by Senator We'll. leaves to every
Parish or Municipality the right
upon the petition Of one-fourth
Of the qualified electors residing
in its jurisdiction to submit in an
election the question Of the ex-
emption Of taxation Of homesteads
not exceeding two thousand dol
lars to be deducted from the
value of the buildings exclusive.
Iy occupied by bona fide owners
for residential purposes.
The community may likewise
in the same manner Withdraw this
grant if it be found to operate
unsatisfactory.
Another proposition, submitted
by Senator Barrow, authorizes
every Police Jury upon the petit
ton of qualified electors to sub
nit the question of whether or
not all or any or more OF the
cities, incorporated Towns and
Villages within the limits Of the
Parishes (unless already exempt) |
shall be free and exempt from all
taxes and licenses levied by Pa
rochial authority for Parochial
provided that when
ever such exemption is granted
each city, incorporated Town or
Village SO exempted shall contri-
butte to the Parochial authorities
It's fair proportion of all parochial
bupdens, debts and expenses
common to both.
In conclusion, let it be said
that these proposed changes are
not experimental, having been
tried successfully in various
States.
The statistics cons 'dered by the
Tax Commission and by the Gen.
eral Assembly satisfied them that
the State would have ample rev.
enues; that the Parishes or Mu-
inequalities would have sufficient
revenues and system would be
.,vised which would free the
Parishes from State interference
in taxation, lift the inequality
which exists between Parishes for
the payment Of their tax debt to
the State, and allow each COM
munity to work out its own de-
'velopment with its own resour
ces.
OF course, there is opposition
to the measure by various inter-
ests who would prefer to have the
old system prevail. Some Of this
is due. we may safely believe, to
ungrolnded fears. and in others