The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-02-25

them is the distinguished eX-Attorney
General of the State. And il II is not
constitutional the attorney representing
the Western Union Telegraph Company
and such other corporations would have
discovered it before now.
Is it democratic? The gentleman from
Rnncombe says it is not. Our own laws,
tho practice in other localities and my
own Judgment tells me it is.
us il right? 1t is coutended by all
writers on the subject that in connec-
zion with an income and properly
graduated inheritance tax, 1t Is the ldeal
method of raising State revenues
I'VE therefore contend that we nave
abundant cause for its passage and Tor
these reasons nrge it.
Mr.. Willard explained the nature of
n franchise and how 1T derives it's
value.
I'VE have in our city one mile of road.
That mile of road controls the freight
traffic of the city. 1t is valued at
81. 700 for taxation. but ii would sell any
dav for $4,000.
1.-THE roads of the State are enjoying
special privileges and they ought not
object to paying for them.
ave contend that they do not pay
their true proportion of ad valorem
taxes and they never can be made do
50.
ITO sum up this question in a word it
is this:
81 Is this tax constitutional? All the
hest lawyers of the State tell ms 1t Is.
so. Is it Democratic? No more Dem
ocratic measure has been proposed an
4 4 4 spsxr zn.Nft. als,y
that if this tax is stricken out. | shall
move to strike out all similar taxes
on other quasi corporations.
-. Is it right? All writers of taxation
agree that such tax is just and edui7
table.
"a good deal could be said touching
the argument of the gentleman from
BERTHE (Winson) in regard to campaign
promises. If the Democratic party sold
out to corporations, as he claims. i GER
tainly did not know it. ! for one, was
not so sold"
At this point the committee rose. the
time fixed for election of trustees of the
University and State Librarian having
arrived
When the Committee of the Whole
resumed its sitting for consideration ot
the tax question, Mr.. Robinson. of
Cumberland, was recognized by the
chairman.
81 had intended to have nothing to
say on this question:" he began, but
the speech of the gentleman from Ber-
tie (Winston) makes some reply neoes-
sary.
Il want first TO lay down the PROPOSE
ton that it is not un-Denocratlc TO tax
railroads. Further, i want to deny
that the Democratic party IS pledged
against taxing them or any other inter
est in the State that ought 10 be taxed.
II have been Dem3.s,t al mye life.
and | think / know something of the
principles of the Democratic party. II
/ do know anything of those principles
they are that the people and not the
railroads shall rule" (Applause).
Mr.. Robinson ably argued the aues-
tion of the constitutionaiity Of The PRO
posed tax, adding that it was. not snly
constitutional but that il is Just.
Il cannot believe. and l refute the
statement that the Democratic party of
North Carolina is en- the side of dhe
railroads as against the people.
THE Democratic party is on the side
of tine people. and | tell you here and
now that they will rise in their might
and dethrone a party that puts corpora
ate interests above their interests.
He took the Southern Railway as an
example to show that railroads were not
bearing their just burd ny OF taxation.
1T has a valuation of ten and a half
millions. Its gross earnings are over
g. 4 l,.1f t1s@f 4.
earnings about 10 per cent Is expenses,
leaving net earnings amounting to
nearly a million and a half. or a clear
profit of about Ii per cent on its in
vestmemt in North Carolina
This is the corporation that two years
ago fought here day IN and day out 10
hold its 99-year lease on the North Caro-
lima Railroad,
.'Do You tell me that such corpora
lions, controlled by such men as A. b.
Andrews. would so strenuotlsry try TO
hold piece of property that as not
yielding a rich harvest?
THE Seaboard Air Line wanted to get
control of the same property.
And as for the Atlantic Coast Line,
that is one of the richest corporations
in this country. 1T has more than once
paid stock dividend Of 100 per cent.
and the stock is now worth more than
double it's par value.
''Do men seek investment in unproft-
able enterprises?
What does this tax amount to to the
Southern Railway? To about $4,000, 1
am Informed.
If I'm taxed one-haf OF one per cent,
and my income is the same as the
Southern's is in North Carolina. my tax
would be over $4,000. i say this is a
discrimination in favor of the railzoad
and against the individual
Mr.. Leatherwood-"The yon are also
taxed as a lawyer"
Mr.. Robinson-"Y not only every
lawyer, but also doctors. dentists. mer-
chants, liverymen, bar-keepers, lndfr-
takers-all the smaller interests of the
State-and larger ones too, such as tele-
graph, telephone and insurance compa-
nies-are taxed. Why not railroads?
! NO, they come here pleading poverty.
They are weak and bankrupt. Notice.
however, that they are able to employ
lobbyists
Now | contend that this tax is just
and fair for the following reasons:
! Il. lit is uniform and graduated.
! -. 1t has BEEN declared constitutional
by the courts.