Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-03-30
BANKERS ASSN
DEFINES POSITION
ON BANK TAX BILL
Issues Statement Protesting
Against Injection of Pol
itics in Question.

The legislative committee of the
New Jersey Bankers Association,
through its chairman, William c.
Heppenheimer, today issued a state
ment on the bank tax measures that
are before the Legislature. The
statement reviews in a general way
| the situation to date and protests
against the real issues being befogged
by politics. 1t is as follows
THE legislative committee of the
New Jersey Bankers Association,
having in charge, among other things,
the question of the proposed bank
tax. has read Assemblyman Dob
binss statement as issued on Satur-
day. and desires to place its views
distinctly before the public. Mr.. Dob
binss statement shows ignorance OF
the question and is not predicated
upon facts.
THE banks have not heretofore
escaped taxation, and have no desire
to do so. They have endeavored to
persuade the Governor to accept a
logical and consistent basis of taxing
such institutions in accordance with
his proposed plan, in the hope that
the whole question might be amicably
and finally settled. The Governor
would not accept the suggestions
made by the bankers, and called a
caucus of the dominant party in each
house to enforce his views.
THE individual views of a large ma
jority of the legislators, as the bank
ers' committee have been advised, are
entirely against the plan in the form
proposed by the Governor; and We're
ii not for the caucus pressure eXerted.
the bill would fail of passage. But
even wiz this pressure upon the AS
semblymen. the Governors wishes
have not vet prevailed; and at this
late hour a distinct attempt is made
by Assemblyman Dobbins-represent-
ing, as the bankers suppose, the Gov
ernor-to befog the situation by the
injection of political and fractional
strife into the controversy. The
bankers deny alliance with any party
or any faction of any party; they are
appealing to the legislators individu-
ally as legislators to properly protect
this most sensitive business which is
the business of the public and not the
business of the officers who are rep
resenting the public in this contro-
versy, and who are only doing their
duty to their Stockholders and de-
positors in their efforts to obtain a
fair basis of taxation. And they are
unwilling to be charged with any
political alliance, or to be held re-
sponsible; and they resent the charge
made that they are forming such alli-
ances with which to win their cause.
1.-THE Governors bill, on its receipt
in the House of Assembly, was re-
ferred to the committee on taxation,
of which Mr.. Dobbins is chairman,
and was by him Immediately report
ed and, as he has stated he had not
even read the bill before reporting it
evidently acting under the stress of
political eXigency The Governor was
requested by the bankers committee
to consent to a hearing in the House
of Assembly in order that the MEM
bers might be thoroughly advised as
to the economic principles of the bill
and the bankers side of the contro-
versy This was peremptorily declined
by the Governor, and the bankers
We're notified that he intended to pass
the bill without any hearing or dis
cussion of the situation. Thereupon
there was nothing left for the bankers
to do but to attempt to defeat the
bill in its then pending form; since
which time every honorable, straight
forward, legitimate method has been
taken by the bankers to inform the
members of the Legislature of the
true merits of the bankers side of the