New-York tribune., 1900-12-28
WORK OF TRUE HISTORIAN
HE MUST SHOW ORIGINALITY, SAYS DR..
RHODES.
MEETING; OF AMERICAN ECONOMIC AND
AMERICAN HISTORICAL ASSOCIATIONS.


Detroit. Dec IA historian. to make his
,osrk ,nust show some originality somewhere y
said DR. James f. Rhodes, In his address to-nlght
on THE Writing OF History before the nrst JOINT
session OF the American Economic Association anu
the American Historical Association, in the Centa
Methodist Church "It may be in the use OF hith-
erto inaccessible or imprinted material continued
DR.. Rhodes, it may be the employment OF some
sources Of information open to all, but not used
before. It may even be the fresh combination Oh
well known and well elaborated facts
Dr. Rhodes then warned all historians against
hasty and imperfect generalization. saying that
historian is sort of trustee, and as such is oound
10 produce nothing that he cannot vouch for lie
then discussed modern and ancient historians at
length pointing out their shortcomings In various
respects and praising the best works Of each
After the $50 members of both societies gathered
in the church had been formally welcomed 10 the
city by Mayor Maybury, President Richard L. Ely
of the American Economic Association, who pre-
sided over the meeting, read paper on "Competi-
ton: Its Nature. Its Permanency and Its Benef-
cence"
At the close joint session the two societies
adjourned to the University Club rooms, where a
smoker was conducted by the local Arrangements
Committee Tomorrow morning at $50 both
societies start for Ann Arbor. where two joint ses-
sions will be held, with President Angel. OF the
University of Michigan in the chair
The afternoon of the American Historical Society
was devoted TO public session of the church his
tory section. Professor George James Bayles; OF
GC9mbn repd PsPer on chnse Of
the Meadvile Penn. Theological School contributed
Samuel Jackson read paper on 1.-The oPgiP 5 Pr OF
lessor Arthur G McGfert of the Union TReolog
ieai Seminary, who was unable to be present on
While the papers were being read various COM
mittees were transactng business; a report on on
erease oven last year Of Sos members The Commit
next nee o9 sessions In Washington In 1907 An invitation
by cable received from Dr. Pals, OF Rome. ask,
congress to be held in Rome in 1902 winch was
accepted
The Taxation of Quasi-Public Corporations" was
the subject discussed at the initial session Of the
thirteenth annual meeting OF the American Eco
nomic Association in the Convention Hall OF the
Hotel Cadillac to-day. There were no prelimina-
ries, but as the hour arrived for the ses-
sion to begin Dr. Richard T. Ely. president Of the
association, announced Dr. Frederic c. Howe, OF
Cleveland, the first essayist, and he responded
with an interesting paper. He said In part:
The present confusion in State and local taxa
ton is largely traceabe 10 legal and constitutional
corrts and the Federal Constitution upon the
powers of the States to tax transportation compa-
Of the evils ot the Personal property trace
able to the conof III OF r. there as m ucR
confusion and lack Of uniformity as in the taxa
such as railroads. telegraphs telephones, express
gas. water. electric lighting and street railway
mental plan or principle
In recent years the tendency has been back 20
the taxation OF property and away from the taxa
ton OF earnings. But instead Of taxing railroad
property by an inventory of its roadbed, right of
way, rolling stock, etc. under later laws, the
valuation has been made up from the stock and
bonds of the company. In instances, this has
been called property tax, IN others franchise tax,
as in the case of the Ford Franchise Tax law, re-
Gently passed IN New-York. This is the method ap-
proved by the Pennsylvania TAX Conference in its
Celebrated report of 1885, 1t is the method employed
In Connecticut, and, with some notifications, has
been adopted in MASSACHUSETTS,, New-Jersey. Ohio;
Indiana and Illinois. One of the chief advantages OF
this fay lies in the fact that 1t has approved
by the United States courts Moreover 1t treats the
corporation entity, unit or a going concern
and values it such. Further than this it adopts
the valuation of the commercial world as evidence
Of the price for which stocks and bonds have Sold
and values the corporation by adding to the market
value of the stock of the company the par value OF
the bonds In some States this method is en-
ployed to all corporations
Frederick n. Judson. OF St. Louis, read the sec
end paper on the subject. Following the reading OF
the papers, there was a lively discussion Of the
subject matter, participated in by Professor q. r.
4 Seligman Of Columbia University: James B. Dill,
af New-York; Arthur j. Edney, of Chicago: Pro-
lessor William r. Ripley, of the Massachusetts In
stitute OF Technology, and others.