The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1899-01-06

personal property, descending to the
direct heirs, be assessed for taxation
under the law. I would also, if posi-
BILE, make it more imperative as to just
what assessment or appraisement of the
estate should be taken as q basis. for
collecting the tax, for in numerous in
stances in large estates / have noticed
an evident desire t avoid the tax by
having an appraisement made for tax
ing purposes. The matter should be
made so plain, definite and certain that
no one could evade the payment or levy
of that tax
I desire further to call your attention
to the benefits resulting from the bill
passed by the last legislative assembly,
taxing insurance companies doing bust.
ness in this state. After the passage of
that law and during 1897 the total
mount received by the state for Ii
censes and taxes from insurance COM
panies amounted to thirty-one thousand
and nineteen dollars and ninety cents
($31,019. 9O), and during 1898 the col
lection from that source aggregated
forty-one thousand, eight hundred and
ffty-seven dollars and forty-two cents
($41, 1857. 42). All Of this revenue has
been collected and received by the state
without adding one additional dollar to
the general public or taxpayers of the
commonwealth.
The railroad assessment of this state
was largely increased during the past
two years, from ten million, four hun
dred and thirty eight thousand, two
hundred and %thirty-one dollars and
eight cents ($1O, 43S, 231 .O8) in 1896, to
thirteen million, seven hundred and
ninety-three thousand, five hundred
and eighty-one dollars and thirty-fi five
cents ($13. 1913, 581. $50 in 1898, or an
increase Of three million, two hundred
and fifty-ive thousand, three hundred
and fifty dollars and twenty-seven cents
($3, 255, $50. 27).
How to Increase the Revenue.
In order to meet the additional bur
dens which will be laid upon the state,
I recommend for your consideration the
following suggestions:
First-Amend the legislation relat-
ing to the incorporation Of companies
and the increase of the capital stock of
any company, so that each time the
capital stock of the company is in
creased, such increased capital stock
shall be taxed at the same rate as the
original capital stock in said coporra-
ton. AS the law now is, and as it has
been construed by u supreme court,
corporations are originally organized
for a very small capital and the re-
quired fee is paid. Immediately there
after the capital stock of the company
is increased to any desired amount, by
an additional fee of only five dollars.
This defect should be remedied by leg
islation: and l would further provide
that each active incorporation, foreign
and domestic, except insurance COM
panies, alive and doing business in the
state, should pay III annual license fee
of twenty dollars ($20.00) 10 the
state as tax.
Second-Under the present system
for the assessment of bank stocks, notes
and solvent credits, and for the levy
and assessment of cash on hand, the at
tempt to make an assessment has so far
proven only a farce. In 1898 only
three million, thirty-fve thousand and
sixteen dollars ($3, O35, DIG. OO) was as
sossed as the total value of bank stocks,
notes and solvent credits in the state of
Montana, and only one million, eighty
thousand, five hundred and ,ffty-two
dollars ($1,O8O. 552. OO) the total cash
assessment Of the state for the same
year.
In my opinion the law should be
made SO explicit as to the duty Of as
SCISSORS in levying and assessing bank
stocks, notes and solvent credits and
cash on hand, that they could not avoid
the responsibility imposed upon them.
I believe severe penalties should be the
consequence Of their failure to require
of each person a personal, sworn state
ment as to their cash, notes and solvent
credits. The state and private bank
ing corporations and co-partnerships
return little or no stocks or securities
of any kind. The law should impose
it upon the officers of each bank to give
the names Of the stockholders and The
interest held by each, the total amount
of the stock surplus and undivided
profits, and require the president or
cashier to assess the whole of such
stock OF property for the several stock
holders according to the value of the
stock surplus and undivided profits.
Also, each and every individual should
be required, under the strictest penal
ties, to render an exact account of the
money or cash on hand liable to assess
inent. And it should be made the duty
of the cashier of each and every bank,
if such a law can be enacted, to dis
close to the assessor, upon proper inter
rogatories, the amount of money stand
ing in the name Of each depositor in
the bank and liable to assessment, aud
severe penalties should be imposed