The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-03-08

udll tuhu ODt'tHlIu ito Naiue' w "oh
nothing more of railroads than we ask of
individuals They are entitled to and will
doubtless receive the same lenity as indl-
viduals-they should ask or expect nothing
more, nothing less. The fact that they
have hitherto escaped taxation should not
be taken into account by the listers, be-
cause the fault has been more with the
people and the law makers than with them.
But this long concession and exemption,
ought to render them somewhat moderate
In their demands, and make them somewhat
moderate in making their demands known.
Although 1t is generally understood, it
may be well to state that the statute re-
quires that all real estate shall be set in the
list eat one per centum of its true value
in money!" and that, therefore, this three
hundred dollars, to be "addcd to our
grand list by the taxation of railroads
under the new law" represents "true
value in money" of thirty thousand dollars.
That is to say, that the "true value in
money" Of all the real estate of railroads
in Rutland is thirty thousand dollars--or, If
you please, that this sum represents one
half or one third of such value. We have
! in the town of Rutland some twenty miles
of railroad" main lne'-and its valua-
| ton is limited to two thousand dollars n
mile, which, we presume, no one will
claim to be one third of its value. The
land itself, aside from the track, would
command far greater price than two
thousand dollars per mile. Indeed we
were informed, by the same authority
from which we first quoted at about the
time of the passage of the "new law,
that limitation of five thousand dollars a
mile would be "fair, "'and we were, also,
told that it would be satisfactory to the
railroad managers. This twenty miles of
"man line appraised at two thousand dol
lars per mile, would give us a valuation of
forty thousand dollars, zone per centum'
of which would alone add four hundred to
the grand list, or one hundred dollars more
than the amount first stated. What then
is to be done with depot grounds, station
houses, engine houses, machine and cal
shops, ETC.? Are they of no value? Would
thirty thousand or sixty thousand dollars
representing three or six hundred dollars
be an excessive valuation for this real es
tate alone? Would it be in excess
of the proportion of value at which
other real estate in Rutland is appraised
Could the buildings alone be erected fol
thrice that sum? Could the real estate
denuded of all buildings, be purchased fo
three times that amount? Surprising
however, that the road bed and track shout,
be appraised at only onehalf of tn,
amount authorized is, one thousand
dollars a mie--we have an addition of tw,
hundred dollars to the grand list and only
on the figures stated, one hundred dollar
left 10 represent the depot grounds and al
the buildings thereon. That is TO say, tina
dollars or, going on the basis of one-hal
or e-third, "a "true value in money" o
twenty thousand or thirty thousand dollars
Under our system of taxing railroads, W
only tax their real estate and this is sur
3 posed to represent, to certain extent tn
, value of its personal property. In whs
: we have said, we have spoken of the actu,
S value of this real estate without regard t
: its use, but is it not far more valuable fC
y railroad purposes than for any other? Doe
: any one believe that the real estate of ii
l. Rutland railroad, for instance, could
n bought for ten thousand dollars mile
y the ''main line, and its other real estate
IL proportion ? Would its owners and ma
s ayers, even, consider such price ? VIII
h the earnings from September 1st, 1869,
= December 3lst, 1870, were at the rate
= ten thousand dollars a mile, while the re
n tai, reserved in the lease to the Vernon
d Central, is nearly at the rate of one tho
n sand dollars per mile. Are not the 9th
y roads of equal or greater value But v
&c are tod that the enormous addition
h three hundred dollars will be made to o.
o grand list "by the taxation of railroads u
"der the new law" Most magnanimou
surely, and worthy oh listers, of yo
attentive consideration.