Reporter and farmer. [volume] (Webster, Day County, Dakota [S.D.]) 188?-1946, 1899-01-12

its officers high salaries. lays a million
dollars a year by as a surplus, and
then refuses to lower rates or pay its fair
share of taxes. Can this condition be
remedied? I believe the task Is possible
of accomplishment. AS a first step, the
railroad commissions should be authorized
and empowered TO go into every state
where the South Dakota railroads have
lines and check up the earnings of these
companies as shown by reports made TO
officers of n~eighboring states. 1t should
be ascertained definitely whether the
earnings of the roads in this state ere
sc lsrously credited by the railroad COM
panies to Minnesota, Iowa, Wisconsin, Me-
braska and North Dakota, for the benefit
of the people of those states. or whether
they are not reported at all, which Is sus-
pccted. As a second step. the state board
of assessment ana equalization should be
efnasculated of its power to assess rail-
roads and should become a board of
equalization only. The assessment OF rail-
roads and all other such property should
be made by the local assessors, who are
widely scattered about the state, and who
will be less liable to fail under the con-
troll of the corporations than a state
beard, which may owe its nomination
and election to active railroad influence.
Local assessors should be furnished
through the county auditors, with all
NECESSARY information on the subject of
corporate earnings and valuations, which
1t should be made the duty of the railroad
commissioners to publish every year.
A triiiing increase In the valuation of
railroad and express companies was Sc
cured this year. but the raise was trivial
in comparison to what il should have
been. A fair increase in the valuation OF
this class OF property would add not less
than $500 900 per year to the public reve-
nue..
n governor also calls attention 10 the
fact that the great mining companies in
the Black hills escape taxation. Proper
" which turns out annually 4 product of
over $1,000 600 pays a mere bagatelle. At
present. this rich property is assessed like
farming lands, on the acreage basis. 1t
should be assessed on the value of it's
product.
The governor discusses a great many
other matters of general interest.
The treatment OF the insurance question
by the governor is somewhat sensational.
lie calls attention to the good results of
having established q department of in
surance in charge of a commission. and
presents statistics showing the growing
business of the companies in this state.
He advises that the state undertake the
business of insuriLg the property of it's
citizens. A state monopoly. he says. run
for the people and wholly in their inter-
est VIII be powerful enough to success
fully compete with foreign insurance mon
opolies. The credit of the state will be
q constant guarantee of the ~solvency of
a policy. The state can succeed where a
mutua company of it's citizens must fail,
A mutual company which shall compose
the entire state In its membership. and
having all the states power, can, under
a well devised system. either reduce the
cost of insurance one-half or make enough
money from this one enterprise to pay the
running expenses of the state.