The daily state chronicle. [volume] (Raleigh, N.C.) 188?-1891, 1891-03-01

10 pay tax at all. They say that the
Legislature now has leverage upon
this road by which they can compel the
payment of taxation, and that the lever
age Is the application for a new charter
OF the Petersburg road which virtually
belongs to the W. & W. r. Il. They also
contend that the State hae no right to
enter into any agreement which contains
any suggestion of exemption from taxa
ton, or the curtailing of the right of the
State to derive revenue from any and
every species of property within it's ter.
ritory, and sooner than ratify the iniqui-
tous exemptions in the original charter
they prefer that no revenue shall be de-
rived by taxing this road. They are
willing. if neces sary, to waive immedi-
ate payment of taxation rather
than put upon the statute books any rat
itication of charter which ought not,
in reason and justice and equity, to
| be binding upon the State.
But they do not believe that
this will be necessary. 1t is their COZ
viction that if the Legislature will refuse
to re charter the Petersburg railroad
and deny the privileges asked for by the
W. & W. Railroad the railroad authori.
ties will waive their claims to exemption,
and make anunconditional surrender and
pay taxes just as the average man is
forced to do.
II they are right in their faith, the
CHRONICLE would stop at nothing that is
reasonable or just to compel them to
make total surrender. The only de-.
batable questions about the whole mat
ter are:
l. Can the Legislature, by withhold
, ing the Petersburg charter, compel the
road to pay ta1a
2. Ought this Legislature, under the
! circumstances, to agree to proposition
! that imposes one rate of taxation upon
5 the W. &. W.Railroad (which pays moth
ing now) and another rate upon lndi-
:, | viduals9
' Whatever decision the Legislat ture
i reaches, the CHRONICLE hopes that the
J discussion will be conducted upon high
plane. The gentlemen on the Commit.
x tee are all true men and men who would
l. cut off hand sooner than do o wrong
q They honestly differ upon matter ol
!. public policy, and any thought Of i'm
J. pugning the motives of any will to bt
It stoop to low and unworthy plane O
q discussion.
20 We are frank to say that, after con
d sidering this question in all it's bearing
N and from the standpoint of one who's
10 every instinct is agaiust the proposition
y we are not yet clear as to wha
es course the Legislature ought to take
a Earnestly opposing the grant of specla
le privileges to any corporations, we ar
no met with the stern fact that this railroa
ne has enjoyed these special exemptions fo
as half a century. and the Supreme Coul
q, of the United States has decided that th
u, Sn State cannot abridge them. Resistin
ds with all our power, any and all encroact
,rs ments of corporations, we are hampere
nd with the stern fact that this corporatio
na nd has and does enjoy privileges which I
On State ought to grant. The Con
be mittee that considered their propositic
ny was composed of the best men in Il
ay Legislature. After the most caref
he consideration, they were divided
ad their report The division was upt
Ter this point only: Is there any way
'ne me which we can compel the road to p'
'io taxi Five of them believed that the
ON was no possible way to accomplish tt
D. end. and as much as they desir
w. to secure full surrender
ore the exemptions enjoyed by tt
;nS n road, their convictions compel
ro- them to recommend the acceptance
ter the proposition. Three members
IN the committee believe that NOW they C
ule compel the Wilmington and Weld
road to surrender all it's exemptions a
nm. that another opportunity will rot p
,ote sent itself in a generation. They
,oo lieve that if this road is so thorough
Re. entrenched behind its charter contain
/. of exemptions, as is argued, it would me-
the make proposition to surrender any p
,ass Of its exemptions, and 80 believ
,av- their convictions lead them to
son conclusion that they will surrender
+ of their exemptions sooner than he den
thi, the right: Ito change the name to
tate "Atlantic Coast Line;" and to incre
be the capital stock to $40, 900, 600;
ad 3rd. to have new charter to the PETE
the burg railroad.
rbev These are the three things they We
this and for which they propose to pay :
bino 600 a year for ten years and $50, OF
.t ~ year thereafter. Are these things VIC