Omaha daily bee., 1890-06-28
REFoRMs nLrHLN RnAcH.

! While the Farmers Alliance leaders
are agitating all sorts Of impracticable
schemes OF reform, such as government
| grain storage and two per cent loans on
farm mortgages, they are Indifferent
about the most vital and essential re-
forms demanded in the interest OF farm
ers and middle class taxpayers.
Our whole revenue and taxing system
needs overhauling. Under our present
law with the prevailing methods OF tax
shirking and fictitious assessment, the
great bulk OF all taxes falls upon the
homesteaders and the home owners in
the cities. Real estate is the
only kind of property that cannot
escape the eyes of the assessor. Millions
upon millions Of property in the shape OF
stocks, bonds, mortgages and money are
never listed. Corporations that have
acquired franchises worth millions are
assessed at a mere song and allowed to
shift their proper share of taxes upon the
owners of lands, storehouses, mills and
| factories who are not able to hide their
property from the assessors.
This is why taxes upon land are out of
all proportion in Nebraska as compared
with taxes in most of the states. In
some states, notably in Massachusetts
and Pennsylvania, no state taxes are
levied upon land. The entire expenses
of state government are borne by special
levies upon corporations and from Ii
ccnses and franchises.
In 1889 the state OF Massachusetts de-
, ,f q
poration taxes; $460,0S5.15 from bank
stock taxes, and $685., 1876 from savings
bank taxes.
The life and fire insurance companies
paid in nearly four hundred thousand
dollars for the privilege of doing busi-
ness in the state. The railroads paid
nearly twenty-five thousand dollars
special tax toward the maintenance of
the state railroad commission. Foreign
railroad companies incorporated in
Massachusetts were taxed sixty nine
thousand dollars on their fran
chises. The Bell telephone company
paid u franchise tax of $97, 900 and other
concerns, such as telegraph, street rail
way, electric light and bridge compa-
MES, were taxed by the state in proper
tion to their income and property inter
ests.
During the same year the state of
Pennsylvania levied tax on corpora
tion stocks and limited partnerships of
81, ,952, III SO; on gross receipts of corpo-
rations, $5l7, ,256. "a; on insurance compa-
nies premiums, $49, ,906.64; tax on bank
stocks, safe deposits and trust compa-
nies, $3.50, ,900.82; tax on wlits, wills
and deeds, $15S,25S tax on for
eign insurance companies, Si74, ,346;
bonuses on charters, $164,561. Various
railroad companies paid over 100000.
In other words, out of a revenue of
eight millions and half raised by Penn
sylvania in 1889 only seventeen hundred
and eighty-nine dollars were levied
against lots and lands.
Is there any valid reason why Ne
braska should not emulate the example
of Pennsylvania and Massachusetts and
raise the entire revenue needed for car
rying on state government from the
class that derives their charters and
their franchises for earning enormous
incomes from the state?
Another much needed reform is the
creation of designated repositories for
state, county and city treasurers. Many
treasurers in this state have grown
wealthy on four-year term from loan
ing the public funds to bankers. who are
usually their bondsmen or political back
ers. In 1889 the state of Massachusetts
received one hundred and seven thou
sand dollars in interest on it's state funds
from the banks which were designated
as repositories.
Nebraska has ordinarily not as much
ready money in her state treasury as
Massachusetts,, but we venture to assert
that fully twenty-five thousand dollars
year could be realized from state de-
posits.
These are only some of the many i'm
portant reforms which THE BEE intends
to advocate during the coming campaign.
They are within the reach of our home
rulers and can be brought about if they
will center their energies upon
things that are within their
reach instead of fighting wind
mills and agitating wildcat pro-
jects that are not likely to material
ize during the present generation.
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