The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1867-12-27
!. VkLT AXIOM AND TAxATIoN.

an increase Of 40 per cent. But the
returns. now 10, show an aggregate OF
but SGT, 900 .OOO-an increase oil only
Sc. 200, 900, OF about ten per cent
leaving a discrepancy of s14.0oO.Ooo be"
tween the Auditors estimate and the
actual results.
The Topeka Record has long arti-
Gle attempting to make out that the SO,
600, COO are in the State and should have
been returned for tsxation; and account
ing for the failure to return them: lst, on
account Of gross undervaluation of prop
erty-chi.fy stock; %, the failure to
tax National Bank stock; and 3rd, the
fraudulent use of National Bouds--lhe
same set being used by several different
persons Il absorb their means to prevent
it's taxation by the State.
We do not know ofany estimate Of the
amount of Government Binds in the
State ever having been made. They are
mainly confined to the cities and larger
towns, and are not, we believe, cOnside' g
very profitable iDvestment-except for
baukiDg purposes-where money can b.
readily loaned at from to q per cent
per monlh-more than three times the
interest drawn by the bonds. We should
Judge that outside of the bonds held by
the National Banks, the amount 10 the
State, and any possible fraudulent use of
them. could not exceed S5oO.OoO-as
they could only be used to shield cash in
hand
The National Bank stock is estimated
at $3.50, OOO-which should be taxed
The Legislature of last winter passed a
bill for that purpose near the close of the
session, but by some legerdemain it was
.tosl" and never became a laW-and it
was not discovered to be missing until in
the last hour of the session; when its au
thor, Judge Miller, of Lawrence, made a
thorough search aud investigation, but
all to no purpose. No doubt at the com
ing session another bill of similar import
will be promptly passed, and we hope
may run the various quantities. to which
Just measures are generally subject, aud
become a law. If we are correct in the
above estimates, there is something over
SI3. 600 600 to be accounted for on the
Records theory of differentiation. 10
support of that theory the Record alludss
to an estimate-made by somebody, but
by whom nobody knows-that the stock
of the State alone is Of the value Of S40,-
600, 900. That this is wholly out Of
bounds a moments reflection will con
vince even the Record. The total Dum
Der of voters in the State is little over
$4,000. 100000 of stock would
be over 81 800 10 each ore of them
not only farmers, but merchants, mechsL.
les, lawyers, loalers and all. Now. out
of these $4,000 voters, not over one>third
are farmers, or owners of stock-so thai
$40. OOO, 600 worth of stock would give
nearly $4 600 TO each one of them. We
doubt if the amount of stock in the State
exceeds 100000 and from that
must be deducted for the purposes of tax
alton under our law, all animals under
one year old-a subtraction of nearly ten
per cent. Aud we know that in Lyon
county, the present year, cattle, at least,
were assessed fully up to their value, and
: as We believe, in common with all our far
mers. at too high a figure. Taking our
own county, then, as an example, we fee
quite certain that the stock assessment ii
fully as great as it should be.
Taking Lyon co unity as the STANDARD
again, we believe that lands are assess &c
fully as high ns they should be-ws NEAR
the average. There have been no-o
next to no-lands added to the tax-rolI the
present season. The aggregate increase
has been a rise in value of the same land
assessed for taxes last year. There has
been less speculation this year than last
more stringency in the money market
"a general decline in the price of mos
commodities getting down to hard,
pan. These things have had their effec
on the price of real-estate, which, while
considerably appreciated in real value
over last year shows it in very moderate
increase in price.
We do not share the regrets of the
Record that the assessment should have
been made on the saf-oc IoV y-side
of the balance or in its opinion that our
present taxes are light. An assessment
stimulated to $4,000, 900 would have
begotten in our legislature aud other off
cials whose province it is to levy taxes
corresponding ex;ravagance which We
should, at present at least. avoid. We
will take the popular judgment on the
statement Of the Record that sour tax es
are not high" That they are all cur
people can stand up under is certain. If
they were much higher thousands would
be unable to pay.
The true basis of taxation is income.
BY tar the larger portion of the property
In ksnsas is real estate and three>fourths
of that is wholly unproductivs bscouss