Show THE TAX ON MORTGAGES Mr Johnson Republican Representative Representa-tive from Sanpete and Mr Varian of Salt Lake have been endeavoring to make the bill replacing the tax on mortgages a party measure These two gentlemen however have found some difficulty in making their Republican colleagues see the force of their reasoning In fact there is a strong opposition to the measure in the ranks of the majority led by Mr Sears and having the unqualified support sup-port of other Republicans The opposition these gentlemen is based on the very grounds which led to the repeal of the mortgage tax by the Democratic legislature of 1892 They say that the lenders especially in such times as these dictate the terms under which they will lend money They figure on gaining a certain net return on all loans and every expense of any nature which would interfere with this is made a burden for the borrower to carry In support of this they cite the trust deeds of banlfts and money merchants which especially provide for the evasion of any such law They say that this measure will not reach the evil that Is complained of While admitting that it would be a good law which would place a tax on money yet they are constrained to argue that this bill of Mr Johnsons I would simply make the borrower pay the tax on his mortgage as vell as the tax upon the lands l Thus they would but add to the burdens of the poor for whose welfare they pretend to be solicitous There is another argument used by the gentlemen which appears to be worthy of consideration They say that investors and lenders are wont to avoid those commonwealths where laws are unstable and where demagogic utterances utter-ances against tldr l class find voice in the halls of legislation Realizing that this territory having a wealth of undeveloped un-developed resources and no idle capital cap-ital needs an influx of money from some older communities before a full development can be reached they are incliIed to oppose the measure on the ground of expediency It is gratifying to learn > that a few members of the majority side in the House have lifted their hands to throw off the party incubus which was designed de-signed to prevent Independence of action ac-tion In this matter they are right and by voting against the measure to renew the tax on mortgages w6 believe they will be voting for the best interests inter-ests of thd Territory |