The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-02-24
TAX ON THE RAILROADS
CONTINUED from LIST mage,


North Carolina excepted, that doesn't
levy this tax in one form or another"
Mr.. Winston-"Do you exact this tax
whether railroad makes any profit or
not?''
Mr.. Willard we levy IT on the gross
earnings, because that is something
more or less certain. We do not levy it
on net income or profit. And besides,
for bovious reasons, that would not be
fair basis.
Mr.. Carroll-'Do you consider this
bill discrimination against railroads? z"
Mr.. Willard-'fNot bit of it. The
same principle is applied to insurance
companies and other corporations"
Mr.. Holman, chairman of the Finance
committee, considered the tax just, equi-
table and proper.
I'VE patiently heard the RAILROADS on
this question. Officials and attorneys
appeared before rs. "A subcommittee
was then appointed. And after all was
done and said we were Of the opinion
that the railroads were not bearing their
just proportion Of the burden of taxa
ton"
Mr. Stevens-'If we strike out this
section what effect will it have on the
tax rateT
Mr. Holman-'I can't see anything
else to do but raise it,
Mr. Craig thought this one of the
most important questions that would
come before this Legislature. He had
great respect for the gentleman from
Onslow (Thompsonl he thought there
was no ADLER or more courageous mem
her ON the floor, but in this instance he
thought him in the wrong and would
have TO Opposes him.
Il consider this tax subversive Of the
whole principle Of our government We
take the tax from the railroads pri-
marly, but the people pay it in the
end" y Il
Mr.. Willard-'W you favor strik-
ing ont similar taxes on other corpora
tions?'
Mr.. Craig replying said that if
the tax were not just he would. He
continued:
We are giving up the vital pfinci-
pie on which Democracy stands. Let's
not introduce a new principle here that's
not Democratic
He argued that the merchants tax
was alright. the income tax was alright,
was not the proper way to reach them.
Il pledged myself in the campaign to
be just to corporations-to be just to
all interests, rich and poor alike. That
pledge | don't intend to give up for
100000 or even S400.O00.'
Judge Conlror thought the principle in
these sections a dangerous one. Though
the tax might not now amount TO so
I. y1,..t IN. c.o+
dent.
'.Soon there will be proposition to
extend 1T to other interests ana indus
tries. Our cotton milling interests are
most profitable and somebody will want
to tax them"
Mr.. Willard-'.TNhat can't be. for they
are not quasi public corporations as
railroads are"
Judge Conner could not see that the
distinction made any difference.
First thing you know somebody will
he inquiring as to what the income of
the farmer is with a view to taxing ii. y
Mr.. White, of Halifax, pointed out
the fact that some of the roads We're
valued for taxation at $4,000 per mile,
while they We're bonded at $4,000 a
miie This seemed to him to be wrong.
Judge Conner said he would not I'M
dertake to say ahat the roads were taxed
all they ought TO be, but the proper
way to correct that evil was for the
Railroad Commission to raise the tax
valuation of its property.
AT this point Mr.. Holman moved that
the committee rise. The motion prevail
cd and consideration of this tax ques-
ton goes over till to-day. when there
will probably be some able speeches.