Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1881-02-23

either in law or in effect exclusive franchises that
oppress the people. Let the rates of charges OF
such be fixed by law, and their franchises properly
assessed, and the murmurs OF complaint Will soon
die out. Those corporations that have no exclusive
franchises those engaged in the development OF our
manufacturing and agricultural interests neeo en-
couragement rather than their present treatment
Competition in business viii always regulated sucn
and keep them within the limits OF proper dealing,
far the interests OF the people are concerned
Why, then, should the present law be retainer
Why should an association Of individuals, invested
with corporate power and rights 10 carry on pusl,
ness, be taxed more than the wealthy individual
who carries on the same business! Ii To-Day
should purchase the Marysyille wooden mills and
conduct the business the 1t IS now conduct
ed or, if the men who are now the owners Oh al,
its capital stock should disincorporate ana
conduct the business under the form oil coparIher
ship the change would neither necessarily increase
or diminish the amount or value OF the property,
but it would save certain amount oil taNalon anu
il that amount is not double taxation and dlscriH-
nation ask the gentlemen on the oener sue ~ ma
Marin made a few days ago, that the vice Oh our
legislation is attempt at too muen regulation.
But if the policy is to continue, insist that III JUS
tice all men should be equally aneeted py IT. Two
men invest each $4,000 in farms and engage
in agriculture One is good farmer and
clears in year S., 600 profit, or so per cent on
his investment the other, poor farmer, under Just
az favorable conditions only pays expenses NOW
the first should be regulated, because he IS
making money too fast and may IN time get ricn.
Two men engaged in the mercantile business. Each
mas a capital of $4,000, which he invests IN tne
business and their stores are in the same block
At the end of the year one, by superior business
capacIty and industry has doubled his money and
the other has failed. The successful man has now
BECOME a suspicious character and should be regu-
lated" Now ask why those successful men are
not taxed down within safe limits? Why are they
allowed to make large profits in their business
The only reason / can think of, MIR. President, IS
that they are not corporations.
What we insist on is this That the true theory
the true policy of the State demands that corpora
tions shall have the privileges, the same facl-
ties and opportunities individuals and firms III
the prosecution of the same business. One man
who can and will make money is OF more value TO
the State than dozen that cannot The same rule
will apply to all productive agencies. Then let the
State encourage those instruments and agencies
upon which the development OF our resources and
the progress of the State so much depend
remove this discriminating and unjust tax
upon the st ok of our corporations; say TO
the people of the State and to the world, If you
mean it. that no property is subject TO double tax
ation or to be twice charged assessed by the same
tax" and there will be revival of business pros
perty, of good feeling OF desirable immigration OF
development and industry in the State such as she
| has never seen. Refuse to give that assurance
refuse the relief which this bill seeks, and
the tide of wealth. Of industry and OF those agencies
| of development and progress we so much need,
which now flowing from the state, VIII continue
to flow until in time nothing will be LETT 10 her but
her wheat-raisers and her shop keepers.
Mr. President, in conclusion wish to add that |
had hoped that some Senator with more ability and
influence than possess would bring these questions
before this body at this session, and waited until
two weeks OF our time lapsed before ventured to
do it myself 1t was only the grave Importance OF
the issue and sense OF my duty as a law'm maker
that impeed me to offer these amendments and
subject myself to the unpleasant criticisms knew
would follow, and that expect still await me- SO
far as my mere personal interests are concerned |
shall be unaffected by their rejection, for have no
connection directly or indirectly, present or en-
pectant, with any corporation whatever, either as
employe or otherwise, but have regard Tor my
State for her people, and for her laws and 1t Is pc
cause seek her prosperity, her development, her
growth her glory and her honor that now ask for
this bill the favorable consideration of this Senate.