Show tog IBS UW LAW A salt lake democratic organ in in the abe law passed by thelast legislature relating to mortgages says under the old oid law the pro property porty was wai liable for the tax and if it was aged the holder of the mortgage had bad to pay taxes on tho mort mortgage mortgagor gago this double taxation was enforced the last legislature reli relieved aved the holder of the mort mortgage gave from the ibe extra taxation this thi looks like legislation in favor of the money lender aud ald a ainest abe borrower helping the rich as agai against nat the poor but that is not dot the fact the Dor rower had bad no benefit under the old more than under the nev ne wand rand it the lender was r required to pay ther the tax instead of the property owner he ha would undoubtedly provide for that in the interest demanded for far generally keeps both yea LOpen in allnan i 1 cial transaction we be beg to differ with our contemporary as to some soma portions of the above we freel freely y admit that taxation is is not desirable and that such each existed under the bid law we suppose that conr friend will also con cod code cede tt tl fit at all property should be taxed at least once seasoning reasoning frem frani the latter tion we wa propose to show that the now new law discriminates in favor of the rich man or the money lender it it but exempted the mortgage from taxation it would bo be all I 1 right but it goo farther and exempts the money loaned and aad secured by a mortgage which is decidedly wrong wrens aua anc makes the burden of taxation heavier on the mortgagor we wa can make the question clearer by illustration if a man owns owes a cioce of land worth 1000 and mortgages it for 1000 cash there ia i but 2000 0 of property sud and that is all that ought to ba taxed under the old law however tho lh mort age which is of no intrinsic value nine was taxed forus face j taxed where there was in reality but 2000 worth of property properly under the tha now new law the evi til I 1 lies in all the tha property not being taxed we will make maka ca adso of tho ha same ellna 1 as employed above we W 0 would like you to bear strictly in mind that if a man borrowa 1000 in moxey on a piece of land worth 1000 there is ZOCO and that sum ought te ta be taxed it if ho however the SLOW 1000 in cash is ia secured by a mort morl RaILI ga getha tIte money is ia not taxed only tho the property in question is ia taxed making but bU 1000 assessed whore there is in reality 2000 worth ci c property our oar objection to the new law is thou then that it cuenot dues not secure fall taxation all the money lender has to do is ia to secure his money loaned by a mortgage and he be escapes taxal taxation ti on entirely there thera is ia a aase adso in san pote plate county where a mcahy lender paid in 1891 no DO less tha than n in taxes this year he be had bad to pay the extravagant sum 0 cats it is estimated that in san PON pet county alone oyer over is ia this year not assessed owing to the pro visions odthe of the now new law that I 1 of course makes the harden burden of bog in tho needed heaviest on the he poor farmers farmer who have bave to borrow money the same is true to a greater or less extent in evory evary county in the territory the rich men who loaa their money on escape the burdens burdena of maintaining our local government and the property owners their taxes increased HOM it is that there is 0 so o much discontent amon among the farmers and property owner because of 0 the th a new aw W while bankers and money land 1 er erd are pa pleased leased with it |