The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-02-13
Mg%AMMa4zy
Successors Cable Piano Co.
2l3 F.. Broad


zion by adoption Of preamble and
set Of resolutions as IoiIows:
Whereas. 1t Is apparent that the
mortgage tax as now enforced In this
State Is double taxation and la driv-
Ing money out Of this State that other
wise would be IN circulation here; that
the law works hardship upon all the
people and Is a matter that especially
and seriously affects the farmer, in
that 1T makos IL almost impossible for
MIN TO borrow money, and also the
working man who is endeavoring to
secure his home, we feel that legisla-
ton on the onestion of the real estate
mortgage tax should have the support
Of every one In this State.
1t Is hardship upon the builders
and contractors. in that IL Is difficult
for them to secure loans at the legal
rate of interest to carry on their bus
| mess, thereby curtailing the growth
of taxable values.
1t also works a hardship upon our
| financial institutions. as it is an alb
solate fact that millions of dollars
were sent out of the State previous to
the tax return period.
1t Is tending to deprave and lessen
the morals of the people in their at
tempts to evade payment of the same
by. illegal and questionable methods
which have recently been referred to
by several of the grand juries as lead
ing almost to perjury itself
And whereas ii has been proven by
large number Of progressive States
such as New York, Massachusetts
New Jersey. Maryland, Florida. Ohio.
Nebraska and many others which
could he named, who have long since
laws now in force. that the revenues
of the States have been largely in
creased by such amendments. and the
burden of taxation equalized and made
| less burdensome. and lessened the ten
! dcncy OF the people to stultify them
selves in their attempt to evade the
/ same; he it
Resolved, first. That 1t is the sense
OF this exchange that the people and
State would be very largely benefited
and many evils removed by a proper
amendment to the mortgage tax law
of this State.
Second, That we recommend and will
lend our assistance to the adoption of
laws similar TO those now in force in
the States aforementioned, besides
many others. which in substance Is
single tax of 4 Of / per cent upon
the amount of each and every mort
gage, collectiblc only onco and upon
the recordation OF the instrument Sc
curing the same. and to be tho only
tax on and during the life of the said
| mortgage.
Third. That we recognize the gen.
crosby of the press In already having
given much of It's space to this sub
Ject and request continuance of their
aid and influence in promulgating the
evils of the law as It now exists and
the benefits to all the people OF this
State by the adoption of the amend
ment suggested.
Fourth. That copy of these reso-
lutions be furnished to the press and
all organized bodies that might be in
terested in this matter, with the re-
quest that they be read at their next
meetings"
2. That copies OF this resolution be
sent to all real estate exchanges in
the various cities and TO every licensed
real estate agent and financial insti-
tuition, with the request that they CO.
operate with us in the effort to have
the mortgage tax law amended at the
next session of the Legislature
8. That Il pamphlet or circular be
prepared. setting forth the evils OF the
present law as now enforced and the
benefits to be derived from the pro-
posed amendment, which pamphlet be
as widely distributed and crcula ted
as possible, especially to county super
vIsors throughout the State, members
of the Legislature and prospective can
didates to that body, and to all organ
lied bodies. such as farmers conven-
| lions. educational conventions, etc.
4. That each member OF this ex-
change prepare a list OF influential
persons whom he may know. who re-
side in different parts of the State
give such lists to the secretary of
this exchange. who Will send copies o.
| the circular, together with lette:
stating that such circular Is sent by
request of Mr.. --, and asking
consideration thereof and hearty CO.
operation.