The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1891-03-26
readers - worthy Of their perussl and

readers - worthy Of their perusal and
discussion:
SEQ. !. That tho public revenues within
this state shall DO obtained BY . tax upon
capital and upon other property, and al
capital within this state shall be subject to
taxation In the manner prescribed By this
act
Sec. q That the term "capital," when used
In this act, shall include all property be.
longing to individuals, farms, corporations
or associations, which 10 used or adapted to
be used for the purpose OF gain or profit, AZ
land. mines, mineral. merchandise, manu-
factories tools, means Of transportation, tar
sale certificates, Judgments. notes, bonds
and mortgages, cash on hand or deposit, and
every other form Of gain making assets. Il
shall not include that form OF property
which has passed the stage Of direct money
getting purposes, and 10 used primarily for
tho comfort and enjoyment Of man. ~ ones
elf.occnpied dwelling. his furniture. or
family library, or ornaments and means Of
mere taste and pleasure.
Sec That the capital shall bo CLASSIFIED
according to the kind or the use to which it
u adapted, to-wit: Farm lands, including
the animals. shelter, implements and mate.
rial employed In farming, shall DO classsd
a. farm stock; railroads. including all tho
means and material employed In trsnsporta.
class OF mines, with the property and I'm.
plcments used In mining, shall be classed
under appropriate heads, as shall also each
class of manufactures and merchandise,
and all forms Of capital.
Sec. 4. That the respective possessions OF
the individuals. firms. corporations or asso-
Citations, having taxable property, shall
then, besides being listed In the name OF the
party or parties to whom they belong. thus
forming = schedule of valuations separate
and distinct as to class as well as to owner.
ship.
Sec. That each distinct quantity Of prop
erty, A. determined by the class to which II
belongs and its ownership, shall be subject
to taxation upon progressive scale In man.
ner as herein prescribed: Upon all values
Of 81 900 or less. the lowest rate Of taxation
shall be charged and collected Upon all
values exceeding $1,000 and not exceeding
$4,000, the rate OF taxation charged and col
lccted shall be: For tho first $1,000 above
the original 81, 900. one and one tenth times
the lowest rate. For the second 81 600 above
the original 81 co., one and one.ffth times
the lowest rate: and there shall be added
one-tenth to the rate Of taxation for each
additional 90 Of value until the rate OF
taxation has become double that of the low
est rate and the capital has equalcd $4,000
Upon values exceeding $1,000 and not ex-
cecding 500, 0oJ, the rate of taxation charged
above the original $4,000 one and oIe-tenth
times the rate assessed against $4,000. For
the second $1,000 above the original So.
co. one and one it'll times the rate assessed
against 10000. and like increase of rates
with increase of values shall continue for all
sums not exceeding $4,000. Upon all values
exceeding 500 go the rate OF taxation shall
be: For the first 100000 above the original
$4,000, one and one-tenih times the rate as
sessed against Si0O. 000 and q like increase Of
values shall continue without limit. Frac-
tional values remaining after deducting the
total Of the units Of increase shall be assessed
at the rates corresponding to the next higher
units of increase.
Sec. 9 That IL any lot or parcel OF taxable
property separate and distinct from others,
be one of two or more of the sanc class
owned or controlled by the same party, firm,
corporation or association. the rat OF taxa
ton upon the value OF said property shall be
the rate which would be imposed upon prop
erty possessed Of the united value of these
properties.
Sec. !. That II any lot or parcel OF property
distinct from Others be placed under the con-
troll OF trust or combination. IL shall be as
sumed to be a component part Of the guam.
tity of said trust or combination, and the
value thereof shall be subject to = rate OF
taxation equal to what would be the mean
rate imposed upon U property possessed or
in said trust or combination.
Sec 9. That II any dealer in agricultural
mining, manufacturing or other products
shall handle, buy or sell the products Of
trusts and monOpolies when those Of other
than trusts and monopolies can be obtained
for mercantile purposes, the yearly average
amount of such products kept In stock shal
be assumed to be q part Of the property Of
the trusts and monopolics from whence thu
said products were obtained. and shall BIZ
subjected to rate Of taxation equal to wha,
would be imposed upon q property possessed
OF the united value Of the properties included
In the said trusts or monopolies.
lit will be necessary then to add some
clauses clothing the secretary Of state
or some other officer with authority ant
power to obtain list of all propertie.
within the state belonging to or con
nected in any way with the trusts Of
monopolies, their values and the value
OF the properties Of the trusts and mo
nopolies to which they belong. and Il
supply copy Of this list to each ia,
1ssessor.l