Show THAT MORTGAGE LAW following is tho the recommendation of the boord of equalize in fil to regard to mortgages cc the law taxing mortgages c as 18 tile they y appear of re record co rd is in our opinion a 1 failure tile attempt to enforce it entails a hardship on the borrower in many cases property is mortgaged for more inore than its value the money lender will nill n ill not pay the tax and as ag the borrower needs the money lie ho will to escure it agree to such terms as the llie lender imposes most of tile the loans are made to persons of limited means and instead of tho the capitalist being reached the burden is doubled upon the borrower a as she he lias has in addition to pay tile the tax on oil the mortgage also to pay the tax upon the full assessments of property the capitalists of other states and territories ri obtain the hi high h rate of interest that such a system ill entails and being a non residents of the territory their mortgages are not taxable this discriminates in ates against 0 home capital with the further disadvantage that the is is paying the current rate of interest which includes tile the tax which the foreign mortgagee r retains sinned signed JOIEN JOHN E chairman licari 1 FJ J CANNON secretary republican ROBERT KOBERT C arni li nii Derno democrat crat JOUN boux E Dooin Republican N 11 acin LES liberal CALEB it HANK r rel n A B Duino crai J i thmas rii avab assistant secretary republican publican Ke I 1 |