The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-24

! What commentary upon our present
1 tax system do these figures present. WIN
/ 1t be seriously contended that this exhibit
/ at all approNmated property values, aud
/ that the Increases given represent In any
measure whatever the true aud actual
/ growth 81 the state during the years 1890
/ and 1925 inclusive?
( Can it Doc successfully maintained that
/ the railroads Including their rolling stock,
were property listed at the average rate
OF SbSil,93 per mile and that tho actual
value of the increased mileage with the
addition of rolling stock and permanent
improvements and betterments acquired
and constructed during those years. as
indicated IN their reports to the railroad
commission. was limited to the sum OF
~, 226, i2S~the increase of rendition in
mileage being SIS miles.
The decrease of S3.i5i,2 In the matter
! of live stock Is also noticeable, and eau
not but impress the mind that It's llstment
for the year last named was not at all
commensurate to it's true value,
! No more instructive and effective illus
tration OF the gross inadequacy in the re-
4 turn by the railways Of their physical
I properties for taxation can be given than
/ q comparison OF the value OF these prop
critics as assessed with that placed upon
them by the railroad commission.
Tho assessment rolls, as before stated
! IonIefGu
sum OF 81 ,032. 236. The commission, after
most careful and intelligent examlna-
/ ton, has placed their true value at that
time at Sl42, ~, llT0l-a difference OF $ti,
457.sS2
Whose fault has 1t been that such gross
under valuation was poseible2 IL viii not
suttiee TO say that the loss 10 the state has
been compensated by the receipts from the
! passenger tax, as they only amounted e
S470Oi,S7 during the same year.
To make such a rendition more agra
waiting and less eNcusable It has for sew
eral years past been contended by these
roads that in hSing their own tax upon
the people for freight carriage, they should
be permitted TO do so upon the basis OF
the fair value OF their property, and IL
order TO ascertain such value that they
may take into account the original cost o.
construction. the amount expended in per.
Wanent improvements, the amount and
market value of their bonds and stock tn,
present as compared with the original cos
OF construction, the probable earning GA.
4 peclty OF the properties under particular
rates prescribed by statute, and III,
sum required TO meet operating expenses
rms eontention was approved by tn,
supreme court OF the United States In tn,
case OF Smyth vs. Anes, October term
1897, in the language that | have Used
ana II is upon this aud Kindred cases thai
the Iohds depend in their contentious ns
TO relght rates with tho State railroad
commission.
II viii be interesting TO note in this con.
nection that as shown by that commission
the outstanding capital stock OF the rail-
ways Of this State amounted on June 80
1898. to N3o,5l4,2l0. and that the amount
q their bonded Indebtedness was then
s22s,4lo,ool, IL the railways be permitted
70 exact from the people freight rates
In. mas he. -.
indebtedness. and dividends on such stock
besides expenses OF administration and
Tor other purposes, with what justice can
u be urged that they should he only re-
\ quired to pay tax upon but one halt OF
tbs value OF their physical properties for