Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-03-17

the assessors Thus The returns for
personal property, by the assessors in
1873, showed s1l6,000,00 90; In 1896.
sll4,OOO 10000; in 1897 $1,000 900. 90,
and this while the value of the real es-
tate, as shown by the assessors. shows
Il steady increase.
Something of the Importance of this
problem of taxation you can learn from
these figures. They show plainly that
It is what is known as intangible per-
sonal property, mainly mortgages and
other securities, that escape taxation.
In other words, it is not the en-
ployed capital, the capital invested In
farming and otherwise, which escapes
taxation for the most part; but
that which is loaned and invested in
securities. The larger industries and
corporations OF this state have their
property in sight and accessible to the
assessor. A member of the tax COM
mission gives it as his opinion that
the banks of Wisconsin are more just
ly taxed than any other property and
next to these the railroads. Ii may
be considered that the latter are not
paying enough for their privileges but
If this Is true It is not that they hide
their property, but because the legis-
lature has not placed the percentage
sufficiently high,
There are corporations doing bust
ness in Wisconsin that are not paying
their just share Of taxes Take the
| trust companies for instance, which
pay but a trihing license fee, These
companies should be taxed exactly rs
the banks are taxed A bill for this
purpose was introduced in the last
legislature and passed, but, owing to
an oversight in framing it the amend
ed bin was left SO that the companies
would necessarily be taxed twice on
majority of their capital and SO the
bin was vetoed; but PROFESSIONALLY
the next legislature will set this mat
ter right. Then there are the sleep
ing car and express companies, Meth
er of which is paying anything like
what II should toward the expenses
of government, Bills, as many of
you know, were passed by the legis-
! lature of 1897. which would have made
a start IN the direction of compelling
these companies to pay their share OF
taxes, but unfortunately in their pas
sage a specific provision of the con
stitution was violated which made the
measures void, and they were vetoed.
Then there are the big assurances
compaai 3 OF the state. II they
should be taxed at all they certainly
should be made to pay proportion
alto amount At the present time
they are paying but a small license
| fee. This matter which | have 40
doubt the tax commission will bring
before the next Legislature.
Various methods have been sug~
gested whereby this evasion OF taxes
can be prevented; but as ! have al
, ready said, 1t is too big problem to
i be hastily solved. There are many
j expedieNts which might be resorted
to but none of them can be considered
as permanent In character. For In
/ betwee0 the executive departments
of the different states of the union
might we'll be established between
the counties OF different states, so
| that when mortgage Is filed with
the register OF deeds in Milwaukee,
and alleged TO be owed by a man in
some county in Indiana the register
of deeds in Milwaukee will notify the
officials of the Indiana couuty and
vice versa, and the mortgage viii be
taxed whore IL Is alleged to be owned.
| The people of other states are just rs
anxious ana are making Just as much
OF an effort to discover hidden per-
sonal property and assess 1t as we
are. In many of the states the most
stringent measures have been adopt
ed but these. even If they were sue
cessful. are so rcpugnant to the sense
of people living under a republican
form of government that they can
| hardly be commnded and they are
not successful.
Il have no doubt the tax commits
sion viii be able 10 make some very
valuable suggestions to the legislature
when It meets but In the meantime
let us remember that our individual
effort and cot denunciaton OF our
neighbors will do more than anything
else to bring about just solution or
this great problem.