Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-03-07
MAINE LEGISLATURE.
Continued from Page Six.)

there was mistake in the count IL
the fourth division. Laughtcr)
The SPEAKER: The Chair rdles thai
the motion to reconsider is out OF or
der If any monitor desires to correct
the count he is permitted to do SO.
Mr.. AUSTIN: tir. Speaker, 1 would
like to correct my count if it IS wrong
The SPEAKER: The members OF
the fourth division in favor of the fna
passage CT this resolve will rise ane
stand fer the purpose of re-counting.
TGirty-eeven in the fourth division
responded to the call, and none oppos-
ed.
The SPEAKER one hundred and
forty-six by correct count having vot-
ed in the affirmative, and none in the
negative the resolve has received Its
final passage.
Orders of the Day.
On motion by Mr. Eaton of OXford.
the rules were suspended and that
gentleman was granted permission to
introduce out of order petition of G..
w. Lyons of Waterford and IA others
in favor of distribution of the State
school fund according to the agSre-
schools. and on further motion by Mr.
Eaton the petition was referred TO the
committee on education.
on motion by Mr.. Brennan OF ST.
George House Document No. 353, bill,
An Act to protect cod and other
ground fish in the waters off the
coast of Maine, was taken from tbs
table, and on further motion by Mr.
Brennan the bill was recommitted 10
the committee on sea and shore fish
cries.
On motion by MIR. Boman of Ninal-
haven, House Document no. Alb, bill,
An Act to amend Section | of Chap
ter Al of the Public Laws Of 1903, re-
lating to the duties of commissioner
of sea and shore fisheries. was taken
from the table, and on further motion
by Mr.. Boman the bill was referred
to the committee on sea and shore
fisheries.
The SPEAKER: There comes w
at this time as unfinished business
consideration of the two reports of
the committee on taxation, in rela
ton to taxation of money invested in
real estate mortgages, the majority re-
porting legislation inexpedient, the
minority reporting bill. An Act re-
pealing Chapter 179 of the Public
Laws of 1911. providing for the ex
emption of mortgages on real estate
FRONT taxation.
Mr.. SPENCER of Berwick: l hap
pen to be unfortunate enough to be d
member of the committee on taxa
ton To which this order was referred.
The order presented to us was re-
garding the ACCESSIBILITY of taxing
MORTGAGES upon real estate in this
State. Now question is in a diff
ferent position than it was, two years
predecessor, passed d. ia~ which ex-
empted mortgages from taxation. BY
virtue Of that Jaw the people Of this
Syate have conducted their affairs gp
ID this Apne in SUCH way that's they
have become *inxoived i9. financial
tfansactions Many OF these mort
gaGes ARE written upon notes which
afS<opon demand, and claim that the
prs4e1f r6sftion Of tfis matter is such
thu ttbk was to be repealed these
not would sbe called in. Now there
are Tines, and have. been in history,
whf after you have passed the Rubi-
con may be too late to turn back.
This a Stale matter. . 1t does not
conf ern any local. territory; it con-
GERS no. particular town Now, what
wq&Id ba the effect of taxing mort
gases2 In the first place the effect
woHld be to take money out of this
StRie.s.po the people in this State
" H11ney2 ! only have to ask you
" L}1sN a1ivertise for fifty million
d ~ "A suanfner business, every
y a1H second reason, it will pre-
v velopment of the farming
IT. fitiie Interests in this State
because Your acreage in this
has not increased for many
h "a eut your valuation has increas-
eIn the year 1912, | find that the
ififfetse in real estate valuation is
1 almost ten million dollars. What does
it mean? You have not got a single
more acre than YOU had before What
haVe you got? You have got improved
real estate,a That means investment,
and it means Improvement Are You
going To kill the goose that lays the
golden egg? Ny third reason. it will
result in the calling of loans This
means ii forced sale, failure, and fore
closure. There are many people who
have asked your committee to look
out for their interests in this mat
ter. II was called to my attention,
this morning, that there were people
in this State who were subject to de-
nand notes: and these demand notes
would probably all be changed over
inside of a year.
Now the government of Holland has
expended millions of dollars in build
ing dixie to protect its coal lands. II
they should take out that dixie what
would happen? You are in the same
position. You have passed a law
which has put people in a dangerous
position. VIII you take down the dixie?
ApplauSe,)
Mr.. TRIMBLE of Calais Even
though there may be difference of
opinion as to whether this law is right
or wrong, ii seems to me that it is
really too soon for us to determine that
the law has been failure. 1t was
passed at the Legislature, two years
ago, and consequently did not become
a law until July. 1911 1t has been in