Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1899-10-14

evils can be reached. One, the monopoly
of production by unions Of capital, and
the other. the escape Of organized wealth
under present conditions, from the bur
thens Of federal taxation. The latter is
one Of the crying evils of the times. The
whole tendency Of federal legislation has
been to exempt accumulated wealth.
The wealth Of the country has been for
years rapidly drifting into corporations.
Stocks in corporations represent, more
than any other class Of property, the
surplus wealth Of the country, for the
man who has q share Of stock has some
thing which he has accumulated over and
above his current wants and exPendi-
lures, and the best method Of reaching
the surplus wealth Of the country is to
tax corporations. Although restricted
by the income tax division the field OF
federal taxation is still a large one, for it
embraces all the transactions Of business
and though the real and personal prop
erty Of a corporation and the income
therefrom cannot be directly reached,
vet every transaction in which such cor
porstions engage may be made the sub
ject of taxation by the federal govern
ment, and the taxes imposed may be
classified in such q way rs to restrain
unions Of capital in their monopolistic
tendencies.
Legitimate sphere of Corporations.
The ordinary producer, having but n
factory. csnnot afford to get into a con.
troversy with his employees for that would
involve an absolute cessation Of the work
of his enterprise. A corporation owning
a dozen factories can easily operate
eleven whilst it is engaged in bringing
the operatives of the twelfth to it's terms,
and thus, step by step, can bring about a
reduction of wages throughout all Of its
twelve factories. So also, having de-
stroyed competition, it can raise the
price Of its products and thus increase
the profits of capital both by diminished
wages of its employees and increased
prices charged to its consumers.
II can also destroy all competition by
selling it's products below cost within
the territory Of competitive operation,
retaining it's prices in the field of it's mo-
nopoly. and thus, without loss in the
aggregate, yield to a localized loss which
will destroy all competitive enterprises.
Thus the individual stands 20 chance
against the corporation. and individual
ism is practically destroyed.
Tax Accumulated wealth.
The purpose then Of federal legislation
upon this subject would be to reach &C.
cumulated wealth and at the same time
protect individualism. Taxes, therefore,
imposed upon the transactions OF corpor.
atoms, will accomplish both purposes.
They will reach accumulated wealth and
they will protect individualism, for the
individual, freed from the handicap Of
such taxes, may be able to hold his own,
and thus the handicap of the tax will
preserve the equilibrium between indi.
vidusl enterprises on the one hand and
corporate enterprises on the other.
The first step should be the %organiza-
tion OF a Bureau OF Industry, somewhat
resembling that of the Bureau OF the
Controller Of the Currency, to which re-
port should be made by all corporations,
showing the amount Of their capital
stock, their bonds, their income. their
transactions, the number of operatives
employed, the wages paid and all the
other data which in time will present q
macs of statistical information that will
aid and guide legislation. Publicity it's
elf will do much in the way OF correcting
evils. for definite statistics will suggest
definite remedies.
n
Time for Decisive Action.
The power OF the federal government
relating to taxation and inter- State com.
MERGE in connection with published re-
III