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

PUBIC OF taXpayers OF the common
wealth.
The railroad assessment OF this state
was largely increased during the past
two years. from $40. 43s. 231.0s In 1856
to sl3. 793, 5s1.35 in 1898, or an increase of
50. 255. 35o.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 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 is In
creased such increased capital stock
shall be taxed at the same rate as the
original capital stock in said corpora
ton. AS the law now is. and as 1t has
been construed by cur supreme court.
corporations are originally organized
for a very small capital and the requir-
ed fee is paid. Immediately thereaft-
er the capital stock OF the company n
increased to any desired amount by
an additional cost of only IS. This de-
feet 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 a an annual license fee of
$50 to the state as a 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
attempt to make an assessment has
so far proven only a farce. In 1898
only $3.035, DIG was assessed as the to-
tai value of bank stocks. notes and.
solvent credits in the state OF Mon
fann an1 anI q 4 non roo -. - -A-L
assessment OF the state for the same
year
In my opinion the law should be
made so explicit as to the duty of az
SCISSORS In levying and assessing bank
stocks, notes n solvent credits and
cash on hand. that they could not
avoid the responsibility imposed upon
them. i believe severe penalties o
be the consequence of their failure to
require of each person a personal,
sworn statement as to their cash. notes
and 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 IL 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
n 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
n every individual Mould be requir-
ed. under the strictest penalties. To
render an exact account of the money
or cash on hand liable to assessment.
And IL should be mad the duty of
the cashier Of each and every bank. If
such a law can be enacted. to disclose
to the assessor. upon proper interroCa-
tories, the amount OF money standing
in the name of each depoeitor i'm the
bank and liable TO assessment, and se-
we're penalties should he 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 a town or city.
These people pay taxes upon the fun
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.
Thlrd-The valuable franchises exer-
cised by foreign or domestic corpora
lions 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 nay taxes sim
ply upon a horse and WACO in the
several cities of the state. The differ
emf companies operating sleeping cars.
refrigerator care. 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 is Of article XII. Of the
constitution, IL is provided that IAN
| property shall be assessed in the man.
ner prescribed by law except as is
otherwise provided in this constitution.
The franchises. roadway. roadbed. 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 came
shall be spportloned to the counties,
cities. towns. townships and school CHS
%tricts."
Section Is Of the. same article Of the
constitution preecribes the duty Of the
state hoard OF equalization as to the
adjustment and valuation of proper
~ between the several counties. and
although the wording Of the constitu-
tion as to the power of the state board
of equalization and the county board
of equalization of a county Is iden-
tically the same. the supreme court Of
this state has rendered a decision
which practically destroys all the pow
er 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
equalization has no authority or pow
er. under the same language. 10 in
| crease the assessment for the state.
Under these circumstances. I would
recommend the passage of a law au-