Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1898-11-02
Evils of Watered Stocks and Bonds.
and the Burdens they Impose
on the Producers.
ARE EARNING THE
REGULAR RATE OF INTEREST.

PASSENGERS ARE EARNING THE
REGULAR RATE OF INTEREST.
RAILROAD VS.. AGRICULTURAL TAX
ALTON.
Hon. S. NJ. Owen has publicly called at
1ention TO a circular recently issued by
certain railway interests on this subiect
stating that the railways in 1897 paid the
enormous sum of $43000,000 in taxes in
the United States. or nearly one-half of
the total income available for dividends.
The national census Of 1890 showed that
out ~ per cent of the real value of prop
erty was taxed in that year. and the av-
era6e rate of taxation was 1856 per cent
AT this rate the railroads. to pay taxes
as other people do, would have paid l.85
per cent on $46S0,000, 0OO or $685. $50, 0O0
which is twice the sum they claim to have
pald. The farmers Of the United States
paid in the same year SIG, 365, 900 of taxes.
Or NEARLY THREE TIMES THE TO-
IAL PAID BY ALL THE RAILROADS.
AND YET THE TOTAL VALUE OF
ALL FARMS is BUT TWENTY-FIVE
PER CENT MORE THAN ALL THE
RAILROADS.
A farmer in the southwestern part of
the state thus puts the case:
While in town today my merchant told
me that three thousand farmers in this
locality raised an average of 1000 bushels
OF gram last season, or a total of 3,OO0-
600 bushels, which cost them an average
Of cents bushel to get to market or
$2O000 for the entire crop, and as it was
carried on railways capitalized for over
three times their real COST we were
mulct to the tune of $3.50, ooo IN OTHER
WORDS HAD THESE ROADS CAR
R1ED OUR GRAIN ON THE BASIS OF
THEIR ACTUAL COST WE WOULD
HAVE PAID CENTS PER BUSHEL,
OR $500 INSTEAD OF 9 CENTS, OR
$4,000, WHICH WOULD HAVE LEFT
US $50 EACH. OR s1S0,00O, THAT WENT
INTO THE POCKETS OF PROBABLY
NOT MORE THAN SIX MEN When
we contemplate a system like this oper-
atlng IN every other county in the Unit
ed States, is it any wonder that we are
IN the midst of mortgaged farms. carpet
less. curtainless and bookless homes?
ERs ACTUALLY SEE WHAT VICTIMS
THEY ARE TO IMAGINARY CAPITAL.
One thing is certain: votes indicate that
good many of them don't see it,
Another thing is certain, and that is
that thousands are seeing the point who
have not seen it before. and nothing has
opened their eyes more than the Steen-
erson rate case and what has recently
been seen in the Twin City Iowry) case.
1T IS TIME TO WAKE UP.
statistician estimating the wheat yield
Of Minnesota and the two Dakotas for
1925 at 200 600 GOO bushels. says its trans
portation to market over over-capitalized
railways will cost the growers over $780,
oo0,o 600, Of which s1s, 100000 goes to pay in
terest and dividends counterfeit CAPT.
tai What patient. accomplishing farm
ers, indeed.
THE DEMOCRATIC AND PEOPLES
PARTIES OF MINNESOTA STAND AS
THE DEFENDERS OF ONE HUN
DRED-CENT DOLLARS. BUT ARE
OPPOSED TO TAXING MUSCLE.
BLOOD. BONE AND BRAINS TO PAY
NO-CENT DOLLARS CREATED BY
THE RAILWAYS OF THE STATE.
Farmers and others would like to toll
and sweat and sweat and toll in the in
terest Of the holders of bonds and mort
cages which represent imaginary values
only should keep right on voting the Re-
publican ticket.
The man who counterfeits a genuine
dollars three times Is a criminal, but he
who counterfeits railway stocks in the
same proportion. for the dear people,
to pay tribute to, is genius.
To contemplate. when paying 80 cents
for railway ticket. that 90 cents of it
goes to pay interest on counterfeit cap
ital and 30 cents to real capital does not
tend to lift the eyebrows and raise the
corners of the mouth.
Organize. incorporate. secure a fran
chise Emoaopoly) Invest one good gen.
uine dollar capitalize it up to four dol
lars-by creating three imaginary (Coun-
terfeit) dollars-and you have all the req
uisites to become a modern corporation
magnate and to prosper" under the Re-
publican system of legislation. which fos-
tiers the trust and the combine. while de-
stroying the small dealer and pauperiZing
the producer.