Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1870-04-21

the road commence simultaneously with
the interest on the bonds.
NO PROPERTY NOW OWNED IN ANY TOWN
giving bonds ia aid of said road can be
taxed to liqaidate any portion of the
principal OF said bonls, as the law pro
vides that the tax TO be levied for that
purpose must be en- the
INCREASED VALUE OVER THE YEAR 1869,
and it may be well to make an expiana
ton here to how this is done. First,
subtract the assessed value of 1869 from
the assessed value in the year in which
the tax is to be collected. Then multi
ply this result by the same rate per cent.
as was required to raise the state and
county taxes on the whole, and this will
give the amount of railroad tax that
can be raised in any one year. Then
add it 10 the other taxes, and raise the
whole upon all of the taxable property
of the town. And this ia all that can be
raised by tax to pay the principal =
Hence, to pay the principal, you can
only he taxed upon the increased valua-
ton. Can you, or can you not afford
MiSs
The road will, doubtless, double the
value of the property on the limo in a
few years, and the faster the value is in
creased the more taxes you can pay.
But suppose the town receives from all
sources, that is, from dividends, six per
cent of railroad earnings, and sale OF
stock, sufficient amount to meet the in
terest on the bonds from the time of
their delivery to their maturity, and it
has only to provide for the principal.
CAN HE AFFORD TO PAY IT?
Suppose we answer that the lands
near to and in the towns through which
the road passes are only enhanced in
value from one dollar to ten dollars per
acre. MANY of them will be increased
twenty five dollars per acre, to say moth
ing of the towns that will be built up on
the line of the road Without further
advantages, is not this sufficient? But |
think L hear some one say: at live
eight miles from the proposed line of
road, and | am nearer another line Of
road, where do my marketing; hence
| cannot be benefited" Well, let us see.
"You pay taxes, do you not?" eyes"
"Suppose by building this road, we
double the value of the taxable property
in your town, although it may not, from
your peculiar situation, enhance tie value
of your property directly; would it not
very largely reduce your taxes, if there
IS 50 much more property 10 be taxed |"
Why, yes" "Well, if by building
the road we make competing market
for your grain, and also create a compe.
ton for your freight, and thus cause an
Increased value for your gain-say of
only three cents bushel-wlI this not
more than pay for the mere item of your
taxi" +" 1t might" "Again these par
ties who live on the line of the road,
and whose lands are largely enhanced in
value, have the increased tax to lay on
it, do they not?" "Yes." i" Well, can
they raise any more grain on their farms
1H"u t"u ecu ou yOuIS, III consequence vi
its increased value and taxation ?" No."
Are not your taxes reduced in con-
sequence of their paying more? "Yes."
Besides other advantages,
RAILROADS NOT ONLY BUILD UP TOWNS
BUT MANUFACTURES.
And at all of the centers of trade thus
created large demand is made for the
produce of the farmer, aUhich did moi
before erist. Hence, it not only reduces
the freight, but makes a home market
for the produce of the country. And
not only so, but they furnish diversifi
cation of labor, which IS an absolute ne
cessity in erery thriving community
Without facilities for cheap transporta.
tion, and manufacturing. all must be-
come producers, and consequently no
market exists at home; as without rail.
roads we could not reach market
abroad, therefore any surplus above our
wants would be worthless.