The Nonpartisan Leader Newspaper, September 21, 1916, Page 11

3ty i detor Nonpartxsan Leader : A few weeks ago in Hettinger, I gave a’ speech” in- which- 1. ‘showed’ how somie- banks . evade the ‘tax law., A Mr. Severson who once” was:a banker inter- -bank of that- eity; his’ mterruptxon was not; taken well by the' crowd. ~ " But-he has: since. published.. over the | '~ -and-eyemr:the~ Standard il mpany pay Now Mr Severwn this is the first mgger in’the woodmfi of the bank laws: Seetion: 2115, Laws of 1913, apphes to - ‘banks- especially. The law is ‘fair if ‘applied right. The capital mck]:hs ‘the: fimw&erealeshseandyon find out. what'is ‘taxed. - Grapting that. is all right; thé natural inclination of tax evasion, that many men: luve-—-othem:se ; ,,honestmandulsemptatanngpmpp osition—has- made them stayup long mgth‘ts and study tlns law with mpeh. - "Tkis:law allows the bank to deduct the: net amount of the real estate from their taxable property. So it is up to the- banker to make his land values as hig. as possible, for the more you subtract. from the bank stock the less taxes on the: bank: Now # do not .say thaf all banks’ do this, but some.do, and ‘as Mr. Severson wanted me to be specifie; let us-have it-, se. Perhaps Mr. Severson being a trifle slow did-not know that all these: years ~*he eould have ‘evaded the paymient: of some taxes ‘and ' the fact makes him smnewhatannoyed at himself and others.: Ahankne_prmewhoushtementlf - property. -ta . boost: your * “Bergland . This kind of “stock” c¢an't eseape taxation..' 'The- ‘legisiature and: state ofncyais have seen 10 tnat. nnd his dog. But bank “stoef”—that’s a very dlflel'ent mattel‘. ss Mr McKalg enlams. Ray Mc Explams for. Severson S Benefit Some Taxatmn Facts - county er-another state. {OWN ~ ATION | paying: taxes entn'ely. itis. sometlmes done ngger—;oker No. 2: . T T Inyanrpudaxhclethatyouhvem- culated over: the state, Mr. Severson, you try--to have a-little fur at Mr. Berg- Tand’s expense; a farmer near ‘Hettinger, elannmg that your:ban! tuxes ‘as he:does in;’ showed’ ‘me clearly thtyou inflated his -case. * Do Mr. this :tavor, wilk: you, and let: hmmakemmmand@mat‘ ‘ment. . Let.-him have the s of your bink for an investmert’ fortwoyears and notpayta.xesmflmsme 3 I your bank-last year made $30,000, asmmybanhhavedone angd if yeur hnkdnlnotwanttopyhxesonall of. that surplus fund of $30,000 yeu .could declare ‘that- dividend of $30,000-and then turn: ammdnnddapwt&.tmmym the bank-on .a- time. certifieate - and -put it i in. :the name.of Mt' Blank, from Blank- AL ON Convement, isw’t it? Seme other simple little Mr. MeKa}g explains. how k: pays. as much: pmpchon He- 250 B&nksdedmct*from their cap!ta}stnck and sur-’ ' plusfertaxmg purposes the value of all real estate -owned. The real estate may be located in another ‘The banks PUT THEIR: THE PROPERTY. '—%‘|MMa'or'T飧s, a;zd eficape \'fl:l& HOW BANKS HiIDE AWAY. THEIR TAXABLE MONEY - " You cgn use the. money Jnst the same and loan it out.at 10-per cent: and extra bonus- if -you--de: that- kind .of: banking .and make.money: on that deposit. if; you “wish and yet pay no tax on: it becanse it -belongs: on' the bank’s books to Blank of 'Blankville, Texas. ~But‘Mr. Farmer or Mr. Ben;land made ahtflemox\ey lastyear If he wants to - invest: that- money 'in- hogs - or land or cattle: or- bnildmgs he:has -to-.pay-taxes on-:it:. - Mr.. Shppu’meher and: there - - are some of them; can:get: out of taxes and does. Mr. Berg}andpays,lns Nigger No. 3, and.a real black:one: ’I'hls shppery ‘Mr.: Banker;-and I do ‘More League Candidates Nonpartisan-league conventions hue * been held imtwo more legishative distriets’ to fill ‘out: /the Lesmt!eketfor*the hotse and senate. I District” 46, Mclm ‘county, Wwhere Peter Romsaas, League candidate on the Repnbimmtnket was defeated - inthe hvelooke&uwyrumed ‘for taxation in »Pmmmer.u‘dieiflonadg B Me- 1915 a: statement ; sso.ooo capital stock; $70;000 undivided profits ; making the working fund:: 3!26,00& They claim that ‘$hey rheld $111,000- in-Teal estate. /sumng “the real estate holdings from: * thé’ capital stock- made 19000 assessable for taxes. - 2 THE BANKER' FIXES : : ms, OWN VALUES! s A f "of the statement was the: banker_set his' own. values on - the ‘real estate. The law will ‘allow a . banker to appraise ‘his: own land. - One quarter . ‘gection ‘on_ tife bank’s books -$50,000 of one ban_k’ ped’ taxation in’ one year. ' thls*escé.pe ‘a8 1 do the farmer _after year have alloMthese theése men to the legislature It i Adoo: of Turtle Lake, who got one of thé - Socialist puty »»-nemmauons For ‘the - houne -at the primary. ‘ ~Mr. Romsaas, who made a:fine race, wa.s th& .only: Leagm candidate: defeated | this district -at-the- tnet this fall is entitled to -elect three " members of the house and theLeague before the primary inda , besides Mr., * Romsaas, R. L.FraserandA L. Max- well, all running ‘in the Repubhem pri- maries. - Fraser ‘and Maxwell- won:in the - primaries.. by - big mmnhes -and- will . make the race this fall again with. the League- indorsement. - ‘In place of Rom- “saas in the election the farmers’ candi- e.pnmanes, ‘becanse much of thi iel itory had not been organized. primary. The.dis- — be Mr. McAdoo, who ran: thei rganized now, however, and the new: League mdorsements for ‘the ‘house : of over” ‘on the voters nowadays ‘and:“get : NORTH DAKO'PA CAP- ; League convention there recently in- dorsed 0. *H.. Opland. of ‘Mott for sena- _ - tor; Byron: B.. Bobh: of :Haynes " for ‘the ? hense, Rbbert 'B. ‘Gpudreau of Selbridge for. the homse and 0. B. Holden of Bucy- - xus: for the house.. . All: .these will.run for - éh&mn -this :fall- as - 8, 0p- ‘posing -the- regular Republican nominees. 'i’he})emocrzts hawnorueketm this dis- ; l[r Opland was: also the: Leag'ue can- didate in the Republican: primaries, -but lost to ‘H. P..JJacobson by .just a. few votes, The League icandidates for the house “in the . primary were William Holmqmst and- Elwood . Eck, who, ran in the primary and lost out.. ‘In place . of them this fall Bobb, Goudreau and Holden will run for the League as;independents, "There is little ' doubt *but ‘that the League- will elect’ its -entire: t;cket in' these twodxs’enets this. fall e e “half:million dollars because of the alleg- ed attempt to “save the taxpayers of the state $231,000" i is very suspicious., That “saving”’ looks yery strange and = who “saves” thé money is going to bé invest- igated before the. fall election. I¥’s harder - than ever 'to “put something ;wgy thh it 'x‘he tgrmei‘« pa}y's taxes on-all his caitle; ms hogs, his chickens . are. sood but the men are slow.” ~fneney, “hole” a’ not-mean all of them by any means, Mr Severson, -discovers - it is, fine to have: plenty of diyidends on melon cutting day - but. inconvenient when the taxes are due. This nigger is curly-headed as well as red-headed. The bank examiner has told ,Mr. Banker that.all loans that are past ‘due-must not- be carried on the bank’s beoks as assets but must be charged off, “But,” says Mr. Banker, “these loans “That* makes no - difference,” answers, the ‘examiner. “They must be charged off even if you collect every one.” Next year this banker had most of his notes fall due. the few weeks before tax: assessment day, April 1st. So when he sends in ‘his bank statement for assess~ ment he _charges off the assets all these past due notes and pays no taxes on- this sends out notices to all these: borrowel‘s to come in and pay up their notes. - They all do and thus the bnnker saves " his taxes. The “law - of Nerth Dakota: has been apparently fulfilled, the mgger has-a grin on his face and the banker is-happy. ... NO.- HONEST BANKER NEED: FEAR THE LEAGUE [ B In my speech; I told how thxs year the ) assessor put on. the tax list everythmg that I owned, calves, colts, little piggies and--even my old faithful dog ,[‘opvser. 1:said” when ‘theé League | goes_to Bis- marck,. as legislators . we are going to take. the. tax: off ‘the little’ dog and put it: on some .of .the.big concerns, oil com- panies and refrigerator cars and banks that escape'taxes and make 'them’ pay their. just .and only just' shate ‘of the publie burden. The Nonpartisan League wants justice for all and injustice for none. We wan! to build up all legitimate branches* of mdustry While the cost-of the govern- ment increases, we:do not want some to pay a few dollars where others must pay more. 4 Our grievance is that some classes and > mdmduals that constitute this state of North - Dakota evade' the :paynient . of their share of the public burden.. We:do not claim that all bankers are robbers, that -all lawyers are crooks, that all: - farmers are models of honesty, butiwe submit ‘that banks have their full shnre of tax dodgers No honest banker. that does business ‘like, for. example, the First National. '~ Bank of. Mandan., need have any fear of the farmers. ' No banker that pays his In:about a week afterwards he share -of ‘the pubhc burden, no honest ; banker: or business man need have any worty . about. 'the! farmer legislating - against: the business. of the state, - But the little peanut merchant who Has a few .business ideas. who thinks that every farmer wears.a No. 6 hat and No.. 13 shoe, and: grows whiskers for brains, he . is (a’ business ‘man, so-called, that thinks -calamity is - coming to North Dakota “cause.of that awful .Leaguet ' “¥i Baysagain the average farmer - todays _is’ more . of ‘a" business man: than the “average ‘merchant, dollar for dollar, ‘and brains for brains. - But ‘the banker that is oppressing -the poor, wringing from the “down and outers” the last cent: by usury and unlawful means, who is slip- ping from taxes—that man had’ better worry -a- little; ‘in fact he had better write a few more ‘articles iin the public = - press in' defense: of existing conditions