Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-03-29

I'LL llLlllnVIl / llVILUI
Continued From Third Page.)
forget the constitution OF this state.
Ihat instrument, from which all olN
laws and authority are derived, de-
clares, article 8. section 9, that prop
erty of all corporations for pecuniary
profit shall be subject to taxation the
same as that of individuals" Rail-
roads are corporations and must bear
the same kind and amount of taxes
that private citizens sustain. 1 have
shown that private citizens enjoy but
asmall privilege in deducting bona fde
debts and many corporations can not
deduct any at ALL Many time since
the 90 s has our supreme court declared
that railroads in Iowa must bear the
same burdens that private citizens
sustain and repeatedly has our highest
court defeated efforts to the contrary,
beginning notably with Iowa Home
stead Company vs. Webster county
t21-221), and in closing in the 7O's with
Dubuque vs.. Chicago. d. NJ. NJ. r. II.
Go, 47-196D To allow railroads TO de-
d,.ct taxes" when private citizens in
i+.dIiS CuScS are uOt dliOWtua 10 ueuuclg
cyen debts is one of the most beautiful
thoughts that has come to my knowl-
dye in this the last year of the nine
teenth century; and | think the people
of Iowa will treasure this idea" among
their gems of thought and philosophy.
Yet after this executive council de-
liberately and solemnly declares, March
%. in its pronuncamento to the public
Cf Inwa "a he % nff 90, no
in his proposed method did not deduct
the taxes paid by railroads last year,
they turned square about and "fixeds
the assessment of railroads for 1900 a t
S44,341,502, exclusive of new roads. with
out "deducting the taxes paid last
year by the railroads. Now more. than
ever do appreciate the truth of the
acute observation of Ralph Waldo En-
erson, the New England sage. in his
essay on Self Reliance" wherein he
says. "A foolish consistency is the hob
goblin of little minds, adored by little
statesmen, philosophers and divines.
But II i know the people of Iowa, 1 am
inclined TO think they will be perplexed
to determine whether. sheer stupidity
or downright dishonesty predominates
the announcements and proceedings of
the executive council of their state gov
eminent.
SHAW'S TRICK.
Part and parcel, of course. of this alb
surd '.taxes-to- be- deducted argument
is the observation that if the taxes paid
by railroads in 1899 are deducted from
the net earnings of 1899 and then the
amount remaining is capitalized the
taxable valuation of railways would be
only s44,o57,671, which the author of the
argument truly and properly asserts is
less than the assessment of last year
by s4s2. 44s, and it is the opinion of
the executive council that so
large reduction ought not TO be
made" This indisputable proposition
was adopted by the majority. In this
particular instance am glad that am
in complete harmony with my col-
leagues. for honestly and heartily con-
cur with the majority opinion. | really
think $44O57,67l would be too low. The
assessment, however. which l urged my
colleagues should not overlook, was $4S.
100000, approximately an increase of
nearly Si,000,000, exclusive of the new
roads, over the valuation which last
year the coIncil allowed to stand.
Objection No. 3 to my resolution IS
that take only the net earnings of 1893
that ought to have taken a series of
wears" into account. To some extent
this argument seems to merit consider
alton 1 frankly admit that 1 have SC
argued heretofore in explaining why
did not urge more radical alterations ir
the assessment of various roads Eut
have come to view the matter sors-
what diaeiently-the argu,nen. is not
material, not competent. We do 10;
assess private citizens upon the average
amount they have owned for a series Of
Of years" If man was worth nothing
last year, he was not assessed; il liz
suddenly becomes millionaire by in
!eritance or a successful business ven
ture he is assessed this year upon the
basis of his present worth tuness ne
makes investments in contracts fol
Rhode Island farms). An assessor won't
not think it incumbent upon him to ar
tive at his assessable vaiue by totaiir.
the past nine years of poverty and one
G! oDIence and taking one-tenth of tlis
amount az the assessment. AT least
have rever heard of this plan of assess
ment being followed, or even urged
upon private citizens. a tax is properly
due upon what a man Is worth now ant
not upon his former possessions.
MAJORITY CHARGED WITH INSIN-
CERTIFY.
This applies with equal force TO rail-.
roads. Besides the code does not auth6
rize US TO take series of years" int,
consideration. But let us test the sin
certify of the majority regard for
series of years in asessing railroads
They will recall that at every assess
nlent in which we have taken part
have had prepared comparative tables
showing gross earnings, net earnings
assessment ratios. taxes paid. rates an,
percentages relative to nearly ever!
possible phase of railroad taxation 70
every railroad in Iowa for tire, Eve ans
ten year periods; and they will recall
that exhibited those tables at III.
council board and argued for my motor
ane reforms upon the basis cf the
showing. The majority Will recall, too
that for years / alone, and my asset
ants in the treasury department. per
formed the drudgery of preparing thes
tables. And all to no purpose. TIL
council has ignored them. Yet now the,
think series of years should be ia
ken into account Methinks the desir
has been born rather eS pos facto
The fourth objection raised, ! freel,