Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-03-27

MoNKEY1NG WITH TAX LAWS

Petitions are being circulated proposing the
ss,ng submission OF laws for the making of important
s Exchanges in tax legislation. Some Of these have
Y hie originated with Supreme Court Justice Robinson,
%annwhos opinions on what the laws of the state should
ssssprebe are interesting, if not profound. Others have
49,. orlglnated from other sources. The specific provi-
Ynni slons of these proposed laws vary, but the general
Z ti purport of them is similar, namely, the cancellation
i M ). in whole or in part of overdue taxes, and the remov-
& atheal of interest and penalty from taxes remaining I'M
fahip paid.
Clos There is an infinite lot of trouble in store for
i : NJ eeboth taxpayers and public officials if these laws are
sulpassed. Unpaid taxes constitute an important part
4 2 of the assets OF the state and all its subordinate tax
ss.6s;ing bodies. These taxes arc secured by the proper
.4Ns,ty on which the taxes are levied, and, while collec-
1Lbna1 ton may be deferred for some time, the sums due
are ultimately collected with comparatively little
y t Il. s%hrinkage. In order that those who do pay may not
mo suffer from the failure Of others to pay when pay
ment is due, interest is charged on overdue pay
9 gments, and penalties are affixed in order to meet
I. 1.-THE necessary expense of collection. The taxes
ton themselves. and the interest and penalty attaching
! het to them, are among the public resources, and the
ss+he public affairs of every department of our state gov
8 sin eminent, from the state itself down to the townships
! 1 :. and school districts, are shaped with reference to
Z Itthese unpaid claims. The collection of these mon
E E 1s eys is anticipated in the making of appropriations,
: ere IN the issuance of warrants and bonds, and in every
!, CHI department of public work.
{ The cancellation of any part Of this indebted
{ W = ness will wipe out valuable public assets and will
. tstend to demoral1ze the finances of every public body.
! on; 1t will necessitate the levying of new and additional
. Nc i taxes to supply the deficiency, and will thus impose
: - a double burden upon those who have already paid,
: often at the cost of great effort and inconvenience.
: Public securities are marketable because of the
Z taxing power that lies behind them. Public credit,
: like private credit, rests on the ability and the will
Z ingness OF the debtor to meet his obligations as
: they fall due. If either ability or willingness is
. lacking credit suffers, and promises to pay shrink
: I IN value. The credit of the state of North Dakota,
q Z = including all the subordinate bodies within the state,
= has been looking up Of late. Our securities are in
Z : demand at rates much more favorable to US than
4 4 was the case a year ago. There has been a feeling
= OF qualification over the numerous evidences that
" we have had of the willingness of investors to buy
our paper at a moderate rate of interest at par. We
: can adopt no surer method of checking this desir-
: able progress than by monkeying with our tax laws
z m such a way as to impair our ability to meet
{ promptly the obligations which we have contract
.@cd The safe plan is for the citizens of the state to
refuse to sign petitions for such laws, and to vote
MI against them if any should be submitted