The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1864-08-24
FERNS. $3.50 PER AgmUQI.

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for making these collections, and require
them to give bonds, with sufficient sure
ties, for the faithful performance of their
duties.
Nr. COLEMAN. The expenses of col.
lection is tho very thing | wanted to
avoid / wanted to collect tho tax as
cheGply as possible
Mr.. OLAJsTED. Well, then, the amend
mcnt has so much merit and no more.
1t makes the railroad companies tho "Ju-
dasos that carry the bag" They arc
uade taZ-collectors, without compcnsa-
ton, and without giving bonds. They
90 Bervo the State that gives them their
franchises and their power to that extent,
and no farther under this amendment.
But it is said, sir, that tax upon gross
earnings operates unequally and unjustlY
upon the railroads themselves. The gen.
tleman from Chester (Mr. Smith) entered
into a lQborcd and elaborate argument
this afternoon upon this point-an argu-
mont utterly ialiacious SO far as applica'
bic TO railroads alone. 1t is said that
while the gross receipts Of two roads may
be equal, one may make money and tho
ether lave hard work 10 avoid absolute
baDAEGp Gpscy. But the samo argument
can be applied with equal force to bonks
and to every other taxable interest in the
Commonwealth. A and B. own adioin-
ing farms Of equal value Willie A makes
money from his farm, 3 runs behind, and
yet the farms are taxed oqally. No ingc-
nuity can avoid this state OF things. 1t
is idle to rcpine and split hairs upon the
subject; It cannot be avoided. Tho man
who manages his affairs properly and
adroitly viii make money, while those
who manage Improperly and care.essly,
whether individuals or corporations, will
not succeed. The gentleman docs not
propose TO change the general system Of
taxation IL the Commonwealth because
this Is so. No universal system of taxa
tlo1 can be adopted that viii no. operate
uujQstly in particular cases.
bu5 II IS said that taxing gross receipts
IS not the best method of taxing railroads.
Perhaps It ID not, sir; but what system
can lie devised that will not be open to
objection from some quarter! know
Of none. Can any gentleman furnish US
such system? Some one has said,
during this debate, that it is better to tax
railroad stock but how will such taxa
t.on operate Many Of these companies
have 10 stock basis whatever. One rail-
road company may have capital of mil
lions of dollars, and the capital stock be
al held by shareholders. In such case
the stock could be taxed without difficulty.
But another company of equal wealth
aud capital my 60 into operation under
another gystom entirely. Instead of
issuing stock to shareholders, it issues
bonds, and instead Of paying dividends
uIo0 stocL,l interest upon bonds. In.
5coad Of stock, it would have nothing but
Indebtedness, and yet be prosperous,
money making road, There is no reason
Why two roads conducting their business
thus diAereatIy should not pay the same
amount OF tax upon the same amount of
business. Yet system of taxation upon
stock would tax the one aud allow tho
other TO escape without taxation. We'll,
soFae enc else proposes to tax dividends
Of railroads; and yet company organized
without stock declares no dividends in
the legal acceptation Of the term, and
would avoid taxation altogether under
such & metdcd
Bach system has its friends and advo-
Gates, and no system can be devised thas
81 argument cannot be made against.
10 eldeavorlGg TO avoid "Soyl!a," we fall
into "CAarybdis, are thrown back
fall down between the two, and accom-.
p.ish nothing. Meanwhile, the real and
personal property Of the Commonwealth
grO2ns under burthou Of taxation that
is insupp0rtab.e, aud the vast capital
invested IN these institutions pays no
tribute to the State that gave them
existence, and still gives them protection.
l hope, 2Ir. Chairman, that tie amend
uont will not be adopted, and that tho
printed bil. viii become a law. | know,
Dir. Chairman, that / am taking tho
unpopular side Of the qpestion-unpopu-
lar SO far as the noneYcd interests of the
Commonwealth are concerned. But, sir,
the tolilng millions Of tho State, the
tii!eTs Of the small farms, and tao inmates
of the workshops have an interest in this
question, and they should be represented
here They ask for equal tazation, and
their prayer should be granted.
n-2-Too auatere philosophy makes few
wise men; too vigorous government, few
good subjects; too harsh religion, few
.lnrrnnh anIals. lncan Lhah will cnnti1nn co