The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1875-01-21

| ed upon, the people should at least re-
ceive partial compensation for the in
convenience this unnecessarily imposed
upon them in the earnings to which the
use of their idle money is entitled in the
market. The change proposed is sane
toned by example and experience else
where, and no consequence could be
anticipated from it's adoption here more
serious than the imposition of this ad-
d1tional restraint upon lavish appropri-
alton and expenditure.
EXEMPT PROPERTY.
The returns of property exempt from
taxation are again incomplete, and COM
paratively valueless as a basis of leg1s-
lation the present year. Therefore, in
accordance with the suggestions of the
Secretary of State, I recommend the en-
actment Of a law on this subject the
present session, similar to charpter 43,
laws, of 1874, with view to more ac-
curate and reliable statistics for future
reference.
| SALE OF MORTGAGED LANDS.
The report of the Stale Treasurer re-
fers to cases of extreme hardship oc-
casioned during the past year by the
sale, without notice, of lands mortgaged
to the state and forfeited by purchasers
for the non-payment Of nominal sums Of
interest. No principle of justice can
sanction proceedings of this character,
and [ urge prompt amendment of
the law in the manner indicated by the
Treasurer
GEOLOGICAL sURVRY.
The sum paid from the general fund
for the prosecution of the geological
survey, the past fiscal year, was $13, 900.
The Importance of this work to the COM
plete development Of the state, cannot
be exaggerated. [ recommend q careful
consideration of the progress already at
tained, and of the propriety Of further
legislation, with view toa more prompt
and complete utilization of the re-
snlts accomplished.
| APPORTIONMENT OF TAXATION.
! Next 10 the question Of prudent ex-
pendit' ;. is that Of an equitable APP
portionment of taxation. The total as
sessed value of taxable property in the
state is about $3.50, 100000, upon which
the taxes of 1874, for state and local
purposes, averaged about 2 $40 per
cent. It is believed that the actual
value of the total taxable property of
the state. If such property were fairly
and fully accounted for and assessed,
would equal or exceed twice the sum
given, and that the average Of total tax
aticn for state and local purposes the
current year is reall y about per cent.
RAILROAD TAXATION
The aggregate of railway property re-
turned to the state is stated by the COM
panies themselves at about $75, ,OO0,O0
| This includes a large amount Of new
road, which has thus fan yielded little or
no profit upon investment. The receipts
into the treasury from railway licenses
for the fiscal year 1874, not including
deficiency of Ss4S, 240. 53, due but un-
paid the previous year, amounted to
1914, 994. 81. By the legislation of last
winter the tax upon gross earnings OF
| railways was increased from to 4 per
cent, and other things being equal, the
receipts from this source for the fiscal
years 1915 will amount to one third
more than the preceding year, or about
the round sum of $3.50, 900. Should the
gross earnings of the two principal lines
operated in the state for the year 1874
equal the gross earnings of the same
lines for the year 1873, this increased
tax, including the local taxes paid by
these companies, would approximate
one per cent. upon any fairly estimated
value OF the property, and Is, therefore,
substantially equivalent to the estimated
tax upon other property at its full and
fair valuation. A large variation from
apparent equity arises, however, from
the comparatively diminutive income of
eleven of the thirteen railways operat
ing under license. The gross receipts
of these clever roads bear no Just rela-
ton to the actual or reported cost of the
roads and the tax upon the property Is
correspondingly small. The present
method of taxing railway companies up
on the basis Of gross receipts renders
this result inevitable in the case of new
roads, and implies an intent on the part
of The state heretofore to extend a iber-
al encouragement to enterprises OF this
class. In view of the practical benefits
of railway construction, by way of de-
veloping our material resources and in
rapidly approaching the aggregate OF
taxable property, and especially in view
of the rapidly increasing revenue thus
ensured from the roads themselves, ]
hesitate to condemn policy SO manifest
ly beneficial to the public and ultimate
" to the treasury itself.
TELEGRAPH AND EXPRESS COMPANIES.
The apparent partiaity of past Legis
latures to express and telegraph com
panies, with reference to taxation. is !
just source of apprehension and com
plant. Other public corporations are
subject to legislative supervision, anc
in large measure compensate the treas
ury for the protection afforded them
by law. Nor do we hesitate to send the