The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1900-07-03

practicable But we know that half
a million of dollars or more can be
added to our school fund annually
from sOurce hitherto untapped,
sources which can best afford to fur
nish this. contribution, and without
levying a dollar more upon those
subjects that are already taxed. This
half a million addition to the present
appropriations would give US eight
months of public schools and would
also swell the appropriations to
higher education to an effective
point, so that it would be felt in new
life and impulse given to the whole
State.
"Among these untapped sources
of revenue may be mentioned amin
come and inheritance tax, graduated
according to amount, and exempting
all small estates and incomes, while
falling more heavily upon the larger
ones This source furnishes a very
large part of the revenues of the
British Government, and I believe of
all, or nearly all the nations upon
the Continent. No tax would be
more just or would be less felt for it
would be levied only upon the sur
plus wealth, and only in proportion
as it is surplus. It would be a light
tax of this kind that would not pro-
.duce more than $1OO, 900 annually in
North Carolina. Upon the same
scale on which it is levied in Eng
land it would yield considerably
more.
'Then your able and accomplished
superintendent of Public Instruction
in his last Annual Report pointed out
to the legislature where d further
sum of $500, 900 could be raised,
equitably, from a hitherto untaxed
subject by levying a tax Of 3 per
cent. upon the gross earnings Of rail
roads, express, telegraph, and tele-
phone companies. He showed by an
itemized statement that fourteen of
our sister States raised revenue by
levying a tax upon the gross earn
ings of these corporations, that Min
nesota raised an annual sum of ST.
900, 900 by a tax of 3 per cent. upon
such earnings and that Illinois laid
a tax of z per cent. upon the gross
earnings OF the Illinois Central. Since
he made that recommendation, the
State of New York has been added
to the list by laying a tax of 3 per
cent. upon the grass earnings of its
railroads and street a lines.
I'm North Carolina last year the
gross earnings of the railroads were
over $12, 900, 900 and a tax of 3 per
cent. thereon would yield $3.50, 900
and Mr.. Mebane calculated that the
same tax upon the gross earnings Of
the other corporations he named
would swell the total aid to public
education to $4OO, 900, which added
to the 800, 900, Ihave just mentioned,
would make a total addition of half
a million annually to u schools
and colleges.
"Out of the $12, 900, 900 gross earn
ings levied by the railroads last year
upon the people of North Carolina,
So, OOO, 900 was net revenue. AS the
railroads are owned almost alto
gether. outside of North Carolina,
largely in London and New York,
this So, 900, 900, is annually carried
away from North Carolina to it's per
manent impOverishment, scarcely
ever a dollar coming back. The an
nua1 levy of the $3.50, 900 suggested
by Mr.. Mebane would be a small tax
to deduct out of the large sums they
profit under the protection of
laws. We cannot execute our con-
stitutional duty as regards the edu-
of the people without more
mOney-that is plain-and upon no
subject can it be laid so justly and
eqUitably as upon those which have
heretofore escaped all taxation, and
which yet can most easily pay it.
at is said, that the physical, tan
gible property of railroads is only
assessed half as high for taxation as
the property of farmers, merchants
and others, that is, judging the value
of property by it's net income, farm
ers and others have their property
assessed for tax at from two-thirds