The Denison review. [volume] (Denison, Iowa) 1867-current, 1914-09-30
TAXING INSURANCE POLICIES

The action of the democratic house
of representatives in passing the bill
to tax Insurance policies. mortgages,
telegraph and telephone messages,
brokers, bank stock, checks, notes and
contracts in order to raise money to
pay the running expenses of the gov
eminent is indefensible when every
one knows that the trouble which
arises comes from the failure of the
democrats to pass a proper tariff law
and one sufficient to raise revenues
to pay the expenses Of the govern
ment 1t is one Of the misfortunes of
the democratic party to prepare tar
if laws that will not meet these ends.
This is not the first time in the
history OF the party that such re-
suit has followed because all through
its history such has been the result.
The republican party, during all OF
it's history, was able to provide a
tariff law sufficient to raise money
to carry on the needs Of the govern
ment.
Every man now living who has made
the least effort to follow the record
can recall that it was one OF the vir-
luCo VI l1C iVpabA'Nhii paw W h'ttiooC
the affairs OF the government so that
the revenues We're sufficient to pay
the expenses of the government.
We wish to call to the attention OF
every man in the community who
transacts business that the tax placed
upon notes, checks, stocks, contracts,
insurance policies mortgages, tele-
graph and telephone messages is a
confession on the part Of the demo
cratic party Of the country that it
is unable to prepare tariff law that
will raise the necessary expenses.
The bill which has passed the house
of representatives will inevitably re-
suit in driving money out of circu-
lation and cause it to be boarded.
Every time tax is placed upon
transaction between the bank and its
customer or any other impeachment is
placed upon the transaction it will re-
suit in driving people to hoard their
money and avoid such transactions.
The administration has acted
strangely in the matter of deciding
What interests shall bear the burden
of the special tax. First, it was claim
ed that the whiskey interests should
bear this burden but such an cutlery
was made that the democratic party
felt that it would lose one OF its chief
means OF support If the whiskey ill.,
terests should have to bear a large
burden of this taxation; then it
switched and said the railroads should
bear the burden OF the taxation, but
the railroads were SO well organized
that almost instantly such IL protest
was made that again the party was
compelled to change its tactics and,
finally, the present bill was selected
which taxes Il class of people not so
well organized and, of course, not SO
we'll prepared to render a protest
against it, but the administration will
find that the course pursued and the
passage of the bill which has already
passed the house will meet very UNI
favorable reception by the people.
The whole thing is a mistake. We
do not believe there is any occasion
at present to pass any law on the sub
ject 1t was but ten days ago that
this same democratic party was in
sisting on passing a pork barrel
river and harbor bill of almost one
hundred million dollars, practically,
the amount OF money which is claim
ed the special tax will raise. This
river and harbor bill has now been
defeated and, instead OF a measure
carrying one hundred millions, COM
promise was effected which reduces
the amount to twenty millions. We
believe if the democratic administra
ton would keep down expenses and
stop passing pork barrel" appropria-
tons that there would be no neces-
sty of occasion for it's resorting to
special taxation.