, 1874-08-28
currency. and no compromise to ofror to ropu-
dlatQra.



THE STATE BOARD or EQUALIZATION.
On Wednesday, last tho Illinois Btate board of |
Equalization met at Springfield. Mr. Derrick |
son, membur OF tho DoArl from this county,
offered resolution to tho offoot that Binco ~
por cont was the avorago rate Of assessment OF
property as returned for 1874 tho Committee on
Corporations aud tho Committee on lsailroads
should bo Instructed to bo governed by that per-
contago in making up their report on tho assesa-
mont Of capitnl stock aud railroad property. III
q clear, couolso, and very logical argument MI.
Derickson showed tho Justice Of tho resolution
he proposed. Some Of tho statements made by
him aro startling. lie has adducoa facts which
20 TO allow That tho stata Board Is In nome In
stances ut least hugo engine Of injustice; and
that instead Of being body to oQualtzo taxation
1t Ia MI institution designed to mako tho burden
Of taxation weigh uncQual1y on different persons
In tho community. tits well-kuown TINT, whereas
tho Inv flxos fair cash valuation Of property by
Assessors, these gentlemen pay no hood to tho
INV. THO roal value OF all tho taxable property
In tho State Of Illinois s 93,000 600. 600; tho AL
scsscd valuo Is only 81, 1,2o0 oo0 ooo.-a little ovor
one-third. Individuals do not, "a rulo, pay
taxes on over 10 por cont Of tho real valuo OF
! thoir property. Notso corporations; aud that
thoy aro thus unjustly and inouitouslv taxed
| Is the fault Of tho Doard Of Equalization. Tho
law mikes 1t tho duty OF tho Donrd to asaess the
capital stock Of corporations, and somo Of tho
tangibio property of railroad companies. 4 cor
poration, say, owns 500. 600 Of stock. The coun-
ty Assessor ASSESSES 1t at 100000, for tho reason
tlat that Ia tho rate at which ho all other
property. Tie case comes before tho Board OF
Equalization at Springfield, which claims that
tuore aro sG0.00O worth Of stock belonging TO
tho corporation still untaxed. Thn 100000 are
taxed again. In this capo tho property, bccauso
| 1t bolongs to corporation. Is asaesaod at two
auu-n-thlf tmea ita value relatively to other
property. In tho case Of railways especially, this
unjust and discriminating system Of taxation has
boon rcBottcd to. Cases hayo teon known In
which, after tho tangiblo property belonging to
thom had boon taxed tho stock was taxed like
wlso Notwithstanding 1t might havo boou ownod
by parties in Holland or Belgium. And all
this In the faco Of provision In tho Coustitu.
ton that every person OF corporation
shall contribute to tho support Of tho Govern.
ment in proportion to tho amount Of Lis or ite
property. Individual members Of the Board have
been expostulated with on this action Of thclrs
ind acknowledge its injustice. Still, when tho,
meet at Springfield they forgot that this dis
elimination between railroads aud corporations
and private persons Ia both unconstitutional nnt
unjust. It Is ,imo that al end should DO put tt
such glaring wrong. Corporations and rail
road companies are necehsary to th'
development OF tho whole State ant
to tho uell-being Of tho community
There arc hundreds Of enterprises from
which all are bonoilted. but which can be carrie
on only by corporations. Take tho railway an
other corporations out Of tho State, and what vii
bo left? Tie State Board OF Equalization is no
anxious probably to got rid Of these inHttutionE
and yot tloy arc doing I'LL in their power to diE
courage them. to drive AWAY all that CAN got away
md 10 prevent othors like them from coming t
, ue. Capital comes into State maiuly throug
corporations. To discourage corporations is t
I discourage tho lnHu3 OF capl1a Hill no ootte
way can be imagined to discourage it than to tn
1t twico OF tIrico what 1t is worth. Bu
this is not all. Tho action Of the Board {
: Equalization in robbing the corporations Of the
l. duo ia immoral. Through them the State ae1
= au example Of injustice to its citizons. It or
- oouragcs fraud. perjury, and discrimination.
is Bocally, politically. morally, aud economical
diaorgauiziug. 1t Ia timo therefore, that such il
= iuatice sbo,ld ceaBe.