Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1876-07-21
THE sULLIoN TAX.

THE BULLION TAX.
Some of the San Francisco papers
have of late taken occasion to criticise
Nevada's policy in collecting a tax
from the net proceeds Of her mines.
These criticisms are evidently de-
signed to prepare the public mind for
the struggle which seems likely to oc-
cur at the coming session of our Legis-
lature. The arguments advanced by
some of the California prints are really
refreshing. For instance, it is urged
that, inasmuch as the mines are chief
ly owned by residents of San Francis
CO, it is not just or right that they
should be taxed in this State. The
rate Of taxation is also greatly exagger-
ated. one journal stupidity asserting
that it amounts to three per cent. on
the gross product. The whole drift of
the comments of such of the San
Francisco press as have spoken On the
subject, it is hardly necessary to state,
is manifestly in the interest of the min
ing rings of that city. Not content
with draining the entire coast Of all
it produces, San Francisco would also
repeal our bullion tax law and thus
leave us without means of supporting
our State aud county governments. 1t
will behoove the people of Nevada to
look we'll to the character of the men
they shall select to represent them in
the Legislature next winter. No man
should be allowed to go there who is
not sound and positively pronounced
in favor of continuing the bullion tax,
as one of the wisest and most impor.
tant of our statutes. The bullion tax
must not be abolished, for the very
govd and sufficient reason that with
out it the burden on other classes of
taxpayers would be simply unbeara-
BILE. Controller Hobart, discerning
the threading cloudin the distance, and
knowing that the issue is likely to be
forced upon the people of Nevada
SOOuot VI idIcA, hoS tOCCutsJ tohOu Iiio
trouble to correct some of the mis-
statements of the San Francisco press.
His letter, which is addressed to the
editor of the Bulletin, is as follows:
In your paper of the 18th instant,
under the head of " Finace and Trade"
speaking of the instability of mining
values, you make a statement that l
desire to correct. :
Yousay the 3 per cent. bullion tax
levied by the State of Nevada is also a
! heavy drain on the of the
Mines" The same tax runs against
the net proceeds of the mines as against
real estate and personal property, and
varies with the county levies in the
several counties. In Storey county,
which pays nine-tenths Of the tax on
the net proceeds of the mines in the
State, the levy for State and county
purposes this year is 81 95 on the 500
valuation, and last year was but I'll 20
on the same valuation. So hat the
average of the tax, taking the whole
State, does not come anywhere near 3
per cent. on the net proceeds.
The mines are moi assessed as real
estate, and paw no tax except that lev
l6u dkdluSt ~ kCt OOCO0os
For the year ending October /, 1875,
the gross yield of the mines Of the
State was 1874, 2O4,S27 43, and the net
yield or value being the amount on
which taxes we're levied, was $l6,9S0,-
2O9 As, and the total amount OF taxes
for State and county purposes levied
on the above amount was $26S, $50 a.
making the average levy for State and
county taxation on the proceeds of the
mines a little less than 81 So on the
500 of net proceeds.
For the three months ending March
81, 1876, the gross yield OF the mines
of Storey county lin which the Com
stock lode is situated), was $10,222,-
413 ID; the net yield or value ON
which taxes were levied was $685.
062 s3, and the total amount for State
and county purposes levied on the
same was $40 1867 70, on q levy OF
81 95 on the 800 valuation.
The rate of taxation for State pur-
poses alone Is ninety cents on each
300 valuation on all property, includ-
ing the net proceeds of the mines.
The foregoing statement shows
first, that there is no such tax levied
| by this State as 3 per cent. bullion tax;
second, that the average of the entire
levy in the State for State and county
purposes last year against the net pro-
ceeds of the mines was less than one
and ~six-tenths per cent, and will be
less than two per cent. this year; and
third, that taxes are not levied upon
the gross bullion product OF our State
but upon the approximate met pro-
ceeds Of the mines" Respectfully,
mos w. w. HOBART,
State Controller.
Carson, New, July IA, 1876.
How IT WoRKs.-The Emterpris.