El Paso daily herald. (El Paso, Tex.) 1881-1901, 1898-09-22
EXPRESS RECEIPT TAX
President Valentine of the Wells
Fargo Company Gives His Side of
the Story.


In letter to the Los Angeles Time
President Valentine says:
Los ANGELES, Cal, Sept. L.
Editor Times-Sir: Being in your
| beautiful city for q brief stay, L would
like the use of your esteemed column:
| for word to our patrons and YOU
readers generally.
In an address before the California
Bankers Association at Los Angeles
in April, 1897, said IN part:
i have found. after forty-odd years OF
active business, that the average legs
lstor is amepable to truth and reason,
that you can convince him with arPu.
ments founded upon honesty and fair
ness. Hence I do not believe in letting
any unjust measures become law with
out STURDY opposition that will leave
lawmakers no pretext for interfering
In difference or contempt. Neither of
these dispositions in regard to any mat
ter affecting public interests is proper
people who chose them as their repre-
sentatives.
On July 9, 1898. addressing our man
ayers, | said:
Acknowledging letters of the 5th,
referring to the feeling of dissstisfac-
ton regarding the revenue stamps, l
cannot bring myself to believe that
shippers will out OF pique long subject
themselves to any Inconvenience or
discomfort, or to possible loss. AS
matter of fact, people do not pstronize
transportation com psuies out of senti-
ment or for show, but because their in
terest, convenience or comfort Ia pro-
NOTED thereby, and it is impossible for
me to believe that the 1-cent tax on
shipme nts can, in the long run, turn
many people away from their habitual
channels of business.
As have already advised, it seems
to me that the practice of having the
shippers pay the stamp tax is the
easiest for them, while the aggregate
of such tax would surely be very bur
densome on the express companies
that is, 1t would amount to from 81. $780,,
900 to 81, 600, 900 per year. l have also
advised you that l am unable to see
how a revision OF tariffs and the CLASH
ication card could possibly make it
more equitable to shippers than the
simple cost of 1-cent stamp.
Upou the vexed question of the
stamp tax on shipments by express.
would remark that express tariffs
have not been raised when we have,
under trying circumstances and amidst
mucn criticism, and even denunciatiOn,
firmly and patiently held our ground.
| have presen Ted, under date of the
"A n ulto.. in pamphlet form, our views
of the case, as put forth by US from
time to time in fragmen'ary way,
correspondence and in verbal
discussion, to those who have felt ag-
grieved, that in the workings of eco
nomic laws the beneficiary or ICON
sumner" pays the tax. While consider
ing this let the shipper by express re-
member that each one of the thous-
auds OF stockholders and employees of
Wells, Fargo and Company pays his
general and special taxes, just the
same "a he does.
A characteristic OF the average Am
erican citizen is Willingness to listen
to the other side of the case, and upon
the readiness of a people to do this de-
ponds the permanency of represent
alive government We always obey
the law when construed by competent
but, in controverted Ques-
tions of magnitude, when appeal has
been made To the courts we calmly
await the judicial determipat' on, The
express companies have acted honest !
ly, openly and above board in in
sisting upon what they believe to be
the ir rights, viz, the same rights that
other men and women taxpayers enjoy |
such persons as may have
implanted OF US: and the constructions
placed upon the law by those compsn-
les has been sustained so far by the |
line of rulings of the Attoruey-General |
Of the United States.
THE WELLS FARGO CORPORATION
There has been so much criticism in |
and, in fact, so much oblo- |
luy INDUCED in regarding corpora
lions and even cooperation officials, |
IN at 1t seems pertinent to inquire what !
3 corporation Is. The expr- ssions OF |
opinion upon this subject by certain |
California papers have been extrava-
CANT. The discussion of such matters |
should be conducted in a temperate
and respectful spirit, which can hardly |
be said OF certain papers in this state.
Wells, Fargo & Co. have been vio-
lently assailed recently, especially as
; rich corporation seeking to evsde its
1uGies or patriotic obligations, and it
seems in order, as / have just said, to
inquire what corporation is. In this
case 1t is an agg greg alton of $500 people |
in round figures, 2l00 stock holders
and 6400 employ es-the latter more or
less exclusively attached TO the SER
vice. 1t is not uufrequently assumed
hat a corporation is the sole and ex-
elusive possession of few wealthy or
well-to-do individuals. AS matter of
'act, the average single holdings of
stock in this company are about thirty
eight shares, and these holdings are
over the country from the
southern border of the United States
10 the Nova Scotia line on the north
east. And these stockholders pay tax
%, general or special, as shareholders
Ind as individuals also. Hence, In the
prevalent disposition to attack corpor-
atoms, the assault is really made upon
people generally who have had the In
iustry and economy, or good fortune
to acquire some moderate
Wells, Fargo q Co. has enjoyed an
existence of nearly forty-seven years,
md 10 that time has pioneered the en-
ire possessions of the United States
vest of the Missouri river, bearing Its
ull share of all public burdens and re-
possibilities during this long period
If honorable business activity. The
writer has been identified with the
company for thirty-seven years-near-
y thirty years as its manager
md both company and manager
nave meanwhile estsb lished some |
claims to respect for up
light, straightforward, fair dealing. |
- well as watchful insisteuce upon the |
tights of interests confided to their
are. For this fidelity and LOYALTY to