The Caucasian. (Clinton, N.C.) 188?-1913, 1897-07-15

lfev1 that pnilro060 0ooold %
ne oehee property, se1 that ~ -
here % ssFvs The people sne 'os ~
een then. y.s C..o
lina Railroad
Total vaiuasion for TAXATION -,
Gross earnisgs 49, ~
From this il appears that this raii'
railrcad earns more than 8 per cent OF
ss.oo0,ooo. Then Why 10 It not "or'1
%, 900 600!
ThouEhtiul men in North Casolin!
know by unsnsWesable reasoning tnal
| is 10 worth more than $1,000, 600 20 tne
ombination Of capital which controla
! it; and yet they have been paying
taxes upon . valuation MECH LEse
TEAM ONB-HAL1 OF This AMOUNT.
The Southern Railroad Company
pays taxes on this railroad on . valus-
zion of only Gil 900 Q mile, when, &C.
cordipg to their own showing, Is earns
for them 8 per cent on more than
$36 0CD y, r mile.
Again II this railroad were an or.
binary corporation it would Be taxed
upon the actual value OF it stock
NOrth Carolina railroad stock 10 worth
on he market more than IFS, % that
its four million par Of stock has an &C
tual commercial value Of more than
$5,(O0,OOl.
why should it be let of with Q val
uatiOn Of 81 500 OOOtab0ut 0ne-half it
ma .h~ - -hSlA np-
binary corporation it would be taxed
upon its market value which 10 more
than q, 600 900:
1t 10 said that the railroads contend
that they ought not to be taxed &C.
cording to their true value, because ia
many localities farm property IL only
taxed 1t two-thirds OF it, value. The
substance Of this contention 10 that
your commission should
VIOLATE THE LAW AND DISREGARD
YOUR OATH
because somebody else has done 90
Local boards have no more right t.
value property ct tWo-thirds than they
have 70 put in f0Ur-thirds Of its value
There are Thousands upon thousandi
Of farms in our State that pay taxes
upon . much greater valuation thar
they would pay il the valuation were
fixed according to eafnings Of the farm
divorced from the personal earninGl
Of the owners. They are frequently
charged in valuation with net earn.
ings, which are not the earnings of thu
land but largely the earning Of the in.
dividual owner.
HI GIVES TO IT HIS TINE AND TOLL
This matter Of increasing railroad
valuation 90 10 to get them on Q leve
with other property is Of moro pres.
ent importance than tho question OF
lowering traffic rate.
AS to the weak railroads, know
of no good reason for subjectina
them to any general reduction. II
may be that in certain specific cases
their rates can be reduced with bene.
fit to the public and without injury
to the railroads. Reduc ton in rates
should be made according to the abili-
ty OF the carrier to Stand them and
this can be ascertained BY looking II
their earnings.
l believe that your Commission
should FIX q passenger rate Of
QUARTER CENTS
. mile for first-class, and say, one and
three-quartef cents per mile for Sec
Ond-class fafes-but that this should
apply only to such railroads - have
gross earnings of not less thsn four
thousand dollars per mile. am con-
WINGED that every railroad in North
Carolina that comes within this cate.
CORY is amply able to bear this reduc-
ton and there is reason to believe
that it would not reduce their net in.
come. II it should, then, of course,
THEIR ASSESSMENTS WOULD BE RE-
DUcED ACCORDINGLY.
That freight rates should be reduced
on the stronger roads, 1 do not doubt.
They are too high when We consider
the low value Of the products upon
which they are levied.
This matter Of taxation is one which
interests all the people of the State.
The increased revenue from increased
valuation inures to the benefit of all.
thank the Commission for tine in.
yitatlon and for the poor privilege of
briefly presenting the side of the tax
payers and producers of the State
the side that is generally weak and
helpless, that is wanting ip all the ell
ements Of power except numbers, that.
unorganizsd and PROSTATE, SEEMS TO
BE UNABLE TO OFFER REwARDsF OR FL
DEITY TO PUBLIC TRUSTS or IMPOSE
PUNISHMENT UPON TREAcaHRoUs sRRv.
ANTS. DANIEL L. RUSSELL.