The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-04-13

the legatee. The income tax as il now
stands is | per cent on all the excess Of
income over $1,000 and no city or county
Is permitted TO levy. any income or m
heritance tax.
This brings US to Schedule OF the
revenue act This schedule consists en-
TREY OF license taxes. We believe that
these taxes have no proper pace IN a
State revenue law, except possibly those
which contain some decided element CT
police regulation. 1t is an anomaly III
State revenue law that we should charge
State license tax to carry on an ordl-
nary business enterprise which is subject
to the seVerest competition, while we
grant TO quasi-public corporations great
benefits and privileges. even surrender
ing to them part Of the States soYer-
eighty in their right of eminent domain
and require nothing from them in return
IT was for this principle that we con
tended so strenuously in the Legislature
Of 1893 and our Efforts have been reward
ed by seeing it permanently Incorporated
in the present revenue law under SEIZED
ule G. This privilege tax on railroads
based on their gross earnings per mile
is the only new tax in this schedule. This
tax as now levied is not burdensome and
it never has been the intention to levy a
tax which would be hardship. in the
Legislature just adjourned a strong eff
fort was made to increase this tax 10
point which would have been extremely
oppressive and it became my duty to
lead the opposition to this tax and pre-
vent the imposition of heavy and very
onerous tax.
The tax on insurance companies of 9TH
er States has been increased from 2 per
cent to 212 per cent on their gross pre-
MUM receipts and the fees for agents
licenses have been doubled. On the few
North Carolina insurance companies the
rate Of tax on their premium receipts
has been increased just 100 per cent. This
was done by virtue of a bill introduced by
myself, in spite of the fact stated in a
previous meeting of this body, that / was
engaged so earnestly in looking out for
my own interests at the expense of others.
The insurance department will pay into
the treasury of the State under the new
schedule of taxes about $4,000.
The tax on marriage licenses and the
seal tax levied under Schedule are
the same as levied under previous laws.
This is summary as well as l am
able to give it of the provisions of the
revenue law, adopted by the last Legis
lature. AS far as the committee which
was entrusted with the duty Of formu
lating the law is concerned l can assert
with absolute conviction that not one
of them was influenced by any other mo-
tive than a desire to construct "A law
which would bear as equally as possible
upon all classes of property.
If certain constitutional restrictions
had not prevented. other suggestion would
have been adopted which we believe would
have simplifed our tax system very ma
terialiy, and would have encouraged en-
terprises which are OF benefit to the State.
Certain important features of the bill
are not endorsed, but it was found inn
possible to make other suggested changes.
1t is certainly desirable that changes
should be made in our fundamental law
regarding taxation and these changes
never will be made unless the law is en-
forced as it is, and the public mind thus
brought to a realization of the need for
reform. We think when the law comes
to be fully understood it will be admitted
TO be fair TO all classes, certainly not OPP
pressive to any, and constructed with the
determination to observe the require
ments Of the Constitution as far as we
were able.