| Show THAT MORTGAGE LAW F following 0 is the recommendation of tho the board of equalization in regard to mortgages C the law taxing mortgages as th they ey J appear of record is in our opinion a failure tile attempt to enforce it entails a hardi hip on the borrower in ili many cases property is mortgaged fur for more than its value the money lender will not pay the tax ax and as the bor borrower romer needs neds the money he will to secure it agree to such terms as the lender imposes most of the loans arc made to persons of limited means and instead of the capitalist being readied reached the burden is doubled upon the ber borrower berbower rower as lie he has in addition to pay the tax on the mortgage g ag ge also t to ci pay the tax upon the full assessments of property the capitalists of other states and territories ri obtain the iii high 0 li rate of interest that such a system entails and being non reside residents ants of ofalie the territory their mortgages are arc not taxable this discriminates a against ainest home capital with the further disadvantage 0 that the borrower is paying the current rate of interest which includes the tax which the foreign mortgagee retains signed jolin JOHN E chairman republican VJ I 1 J CASSOS cavio secretary republican P OBERT 0 lu D democrat JOHN E BOOTH 11 republican publican le N B Li Liw hersl ral CALEB R HASK ic n A D Leino ertiL J I 1 Tinn iAb Asai assistant stant secretary republican |
