The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-02-26

Railroad COMMISSION TO c0nSluef gross
incomes in assessing the railroads for
taxation. If adopted it would amount
simply to direction to the Commission
10 do what the present law requires. as
will be seen by reference to chapter 121,
Laws of 1893. That law is even broader
in scope than Mr.. Overman's resolution.
though it does not expressly declare that
gross earnings" shall be considered in
revising the assessment. but it en-
braces it by declaring that the Commits
sion shall take into consideration the
value of the franchise as well as other
conditions proper TO be considered in
arriving at the true value Of the prop
ery as in the case of private prop
erty." 1t might be well, however, to
adopt Mr.. Oyerman's resolution with
the addition that the assessment for
railroads for the year 1899 shall not
he less than $5O,OOO,O0O." With that adj
dition the action would be not only
definite and certain, but would be such
as would show the purpose Of the Leg
islature to require the railroads to take
step forward, paying taxes upon
valuation somewhat incorporation to the
property of private individuals.
The House will pass the revenue bill
as it stands. The vote yesterday was
made after thorough consideration and
full debate. 1t may be that the Senate
will prefer to increase the assessment,
now VIGOROUSLY low. If so, the House
would probably concur and Il long step be
taken to the taxation of railroads in ac-
cordance with their true value and the
rule that obtains in the case of private
individuals and corporations.
We have not discussed this matter
from the suggestion that either of the
proposed systems is in conflict with the
pledges made by the Democratic party.
for the party neither through its plat
form nor it's officers, made any promises
to any corporation TO give it any thInS
hut fair treatment. Some opponents
of increased saxa-ion take the ground
that the party is pledged against it.
Such a suggestion dishonors the party
and its leaders. The declaration in the
platform in support of that position is
as follows:
I'VE favor the enactment of sucn
legislation as will encourage capital to
make investments within our State, and
we guarantee that the same shall be
protected
In the chapter in the Democratic
Hand Book that pledge is emphasized
and this sentence correctly states the
position of the party:
Under Democratic policies every class
of property must obey the laws and
contribute it's fair proportion to the sup
uort of the government, and then must
receive in return, like equitable treat
ment.'
These pledges are being faithfully car
ried out to the letter. The proposition to
Increase the taxes ON railroads is made
n order to compel each one ito contrib
ute it's fair proportion to the support of
government" If the present inequitable
system, by which farms and banks are
aaxed on three-fourths of their value and
railroads on little over one-third,
should be allowed to stand, it would be
A reputation of the very pledges quoted
20 sustain the opponents of fair and
equal taxation. The Democratic party
made 40 promise for special privilege.
1t promised the contrary. 1t is cove
aant-keeping party and in the Houses
lction it has not violated its pledges.