The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-01-04

public or taxpayers of the common
| wealth
| The railroad assessment of this state
| was largely increased during the past
| two years, from S10.438, 231.0S in 1886
to S1S, 1881 s1. 80 in 1898, or an increase of
| 1925, 350.27.
How to Increase the Revenue.
| In order to meet the additional bur-
dens which will be laid upon the state.
| recommend for your consideration
| the following suggestions:
| First-Amend the legislation relating
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
| snail be taxed at the same rate as the
| original capital stock in said CORPORA
ton. AS the law now is, and as it has
| oeen construed by our supreme court
corporations are originally organized
Tor very small capital and the requir-
ed fee is paid. Immediately thereaf TT
er the CAPITAL stock of the company s
increased to any desired amount. by
an additional cost of only S. This de-
| rect should be remedied by legislation:
and ] would further provide that each
active Incorporation, foreign and do
nestle. except insurance companies,
alive and doing business in the state,
| should pay an annual license fee of
s2o to the state as tax.
Second-ITnder tho present system
for the assessment of bank stocks, notes
and solvent credits, and for the levy
ana assessment of cash on hand, the
attempt to make an assessment has
so far proven only a farce In 1898
only $3035.O16 was assessed as the to-
tai value of bank stocks. notes and
tana, and only St,0S0,522 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 personal.
sworn statement as to their cash, notes
ana solvent credits. The state and
private banking 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
and surplus and undivided profits, and
require the president or cashier to as
sess the whole of such stock or prop
erty for the several stockholders ac-
cording to the value of the stock, sur
plus and undivided profits. Also, each
and every individual should be requir-
ed, under the strictest penalties. to
render an exact account of the money
or cash on hand liable to assessment
And it should be made the duty of
the cashier of each and every bank if
such law can be enacted, to disclose
TO the assessor, upon proper interroGa-
tories, the amount of money standing
in the name of each depoeitor in the
bank and liable to assessment, and Sc
we're penalties should be imposed upon
the assessor for his failure to make
such assessments, and likewise severe
penalties should be imposed upon the
president, cashier or other bank Off
Ger or individual failing or refusing
to make a proper assessment of the
money, bank stocks, notes or solvent
credits on hand.
Under the present system of taxation
the only person who bears his full
share of taxes is the farmer with a few
acres of land, or the citizen who owns
an humble home in town or city
These people pay taxes upon the full
value of all their property. The cor
porations and the wealthy classes of
our people evade taxation upon fully
one-half of all they possess.
Third-The valuable franchises eXer-
cised by foreign or domestic corpora
tfons in this state, individuals or per-
sons should be assessed at something
like their adequate value. There are
several express companies, doing a
large and lucrative business in the
state of Montana. that pay taxes sim
ply upon a horse and wagon in the
several cities of the state. The differ
ent companies operating sleeping cars,
refrigerator cars, or other kind of cars
for the conveyance of persons or
freight, each and all exercise and
have franchises that are valuable to
them; these franchises should not es-
cape taxation.
Under section 16 of article XII. of the
constitution, it is provided that "All
property shall be assessed in the man
ner prescribed by law except as is
otherwise provided in this constitution.
The franchises, roadway, readbed, rails
and rolling stock of all railroads oper-
ated in more than one county in the
state shall be assessed by the state
board of equalization, and the same
shall be apportioned to the counties,
CITIES, towns, townships and school dis
tricts.'
Section Is of the same article of the
state hoard of equalization as to the
adjustment and valuation Of proper
ty between the several counties and
although the wording of the consttu-
ton as to the power of the state board
of equalization and the county board
of equalization of each county is iden-
tically the same, the supreme court of
this state has rendered q decision
which practically destroys ali the pow
err of the state board of equalization,
so that we are unable. in any instance.
to increase or diminish the assessment
made by the assessors or the county
boards of equalization, 50 that the
same will affect the whole state.
Where the language is identically the
same, / cannot understand how the
county board of equalization has au-
thority to increase the assessment of
the county when the state board of
has no authority or pow
er. under the same language, to in /
crease the assessment for the state.
Under these circumstances, 7 would |
recommend the passage of a law au-