Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1913-02-19
SAYS STATELAND
IS TAXED UNDULY

Sterling, H., Feb. 19.-"Real estate
is bearing a preponderating share of
the expense of government" said Ma
thaHgG. Moore of Chicago yesterday in
addressing the 18th annual state farm
ers' institute on Tax Evils in Illinois
and Their Cure Just how extreme
the burden is on land as compared
with personal property cannot be ac-
curately stated because we do not know
exactly the actual value of the total
personal assets. Close study, however,
indicates strongly that the actual val
ue Of personal assets, In Cook county
for example, in any one year, is prob
ably ten times the total value of real
estate. Yes the taxes on all personal
property reported by local assessments
run less than one-fourth of those on
real estate. Thus probably barely one
fortieth of the actual personal proper
ty Is taxed.
This subject has been thoroughly
investigated officially by the Illinois
| special tax commission, of which your
president, A. P. Grout, was an active
member. Their report finds that the
constitution requires that all property
should be assessed and taxed uniform
| ly in proportion 10 its value; and that
until this provision can be changed,
no one can safely trust the result If he
fully disclosss his property, and few
take the chance. Under this provision
80 years of effort have been unavail-
ing to pr9dlce personal property
most of which is intangible and to be
found only through personal disclos,
ure. Severe penalties, the privilege
of inQuisition, employment Of tax fer
rets, public and judicial reproach have
failed to tax this property.
The economic reason for this fail
and therefore uniformity of treatment
does not mean equality of result. The
ability of property to produce income
TO hide or to leave the state must be
taken into account. If credits, mort
cages, bonds, etc, were disclosed by
the owner and taxed at current rate
8 per cent investments would be cut
to almost ga. and interest on savings
to less than 11a per cent instead OF 3
The constitutional tax amendment
proposed, however, would make 1t pos
sible for ensuing legislatures to pro
wide special and reasonable tax rates
for these classes of personality SO thai
the owners could fully reveal theil
holdings and not suffer serious injus
tice. Experience shows that these
methods bring out large additiona
revenues from hidden sources. Thus
in Baltimore intangible assets are tax
ed only 46 cents on the 800 and q
times as much personality is now taxeC
as was taxed a very few years ago
New York state taxes mortgages at thu
time Of recording only and at the rat
, of 80 cents on the s100 Revenues hav'
, increased amazingly and mortgage in
) vestments are more common sine
there is now no need for concealment
The same system In Illinois from 1S9
; 10 1909 inclusive would have increase,
Z the revenues of Cook county alone OIL
an average Of Sl,350, 900 yearly. Othe
counties would have profited also.
THE constitutional amendment pei
: mitting these and other modern mett
: DDS is now pending IN the senate a
Springfield (senate joint resolution Nc
: g. A number OF other amendment
: are proposed, but only one amendmen
can be submitted, and II the plans G