The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1899-09-12
THE THINKERS.
TaE TAXATION OF FRANCHISES
IN IOWA.

taxation of railroads at the same re
Iative basis of value as other property
and OF ascertaining that value by tax
ing the number and current quotations
of thu socks and bonds representing
the railroad property in the state OF
Iowa, and thea with this actual value
~ascertained hxiug the value for taxa,
ton at the same ratio at which farm
and other property was fixed. We
made practically the same argument
in a current issue Of the agricultural
paper which we were then editing, as
will be seen by reference TO the files for
March, 1891 The views therein set
forth were regarded as quite radical
by the strong railroads Of the state,
but the representatives Of some OF the
weaker roads privately assured US that
we were entirely correct in our posi-
tions aud that on that basis they would
pay less taxes than they were then
dong, Il is quite funny, however, to
see some Of the then state officers rush
ing around to get hold of soma of the
representatives of the then Farmers
Alliance and persuade them to sign a
paper in effect advising the council to
do as they pleased but to do nothing
rash.
Eight years have passed since then
and the correctness Of our position has
received endorsement within the last
few weeks from an entirely unexpecE'
ed source. They have a governor in
New York now and his name is Teddy
Roosevelt. a mighty hunter, a valiant
soldier, and one of the fellows that are
in the habit of bringing things to pass.
He was elected by the plain people of
New York against the will OF the o
porations as voiced by Boss Plat of
the r publican party and Boss Croker
of the Democratic. He has in a man
ner forced the New York legislature to
enact a, bill taxing not merely the wish
BILE property OF corporations, but their
franchises or their right to do business
in the streets belonging to the public,
and singularly enough the bill proposes
to determine the value OF these fran
chises by adding together the value OF
the stocks and bonds and deductiug
from that the real and personal prop
erty otherwise taxed, the difference
being the value of the franchises. Tue
bill is not yet signed. The governor
has given every opportunity for the
corporations affected thereby 20 make
their arguments before him, and has
announced that he will sign it ss it is,
but proposes an amendment that OBJ
viates a valid objection to the bill. The
objection is that these properties being
in cities, where corruption is rife and
money all powerful, the law may not
be properly enforced, and his PROPOSE
tion, as we understand it, is that a
council of state m3ials who will do
equal Justice everywhere shall be
charged with the enforcement of the
law. That is right.
The point, however. we make Is that
this bill, known as the Ford bill, adopts
the method of ascerSaining values
on practically the same plan that we
urged the Executive Council OF Iowa
to ed opt over eight years ago. We ap
pealed to them in March, 1899, to adopt
the same method although no member
endoEs cd it fully and but n of them
went so far as to say that the selling
value of the stocks and bonds should
be taken into account as one element
in a~scertaining the share Of taxes that
they think they should bear. As we
said then, and now repeat, we do not
think the value of the new law would
be go much in the way OF increasing
the share of public burdens that the
railroads should carry as in takiog
away the reproach Of Iowa politics,
namely, that Iowa is at present. State
governed for the most part by rail
roads, and the excuse given ia that
they must see to it that men are chos
for the Executive Council, that is
for Governor, Secretary OF State,
Treasurer and Auditor. who will look
after their interests. Under the Law
which we propose, the taxation OF rail
roads would be simply a matter of
clerical work in which toe council
would have no option and the rail
roads No excuse for meddIing as rail
roads with the peoples affairs, How
far that meddIiag goes, every poIiUici
in the State Knows. h knows, for
example, thai if 6hara was harmony
bet weea the two political roads in the
State as TO who should be Uai5ed
Senator, it would not be worth