The Elk Mountain pilot., 1901-01-08

menlS ana auultlOnal DullulnSS. 10
this sum should be added $192, 900 for
the emergency vouchers of the pre-
ceding and present administrations.
Deducting from the total the fixed
levy of one-fifth of mill for the uni
versity, Agricultural college. Normal
school, School of Mines, Mute and
Blind institute and insane asylum, ag
gregating approximately $252,0OO and
the resulting sum of $44O,500 repre-
sents the amount which the managing
boards of these state establishments
would add to the auditors estimates.
1t, is evident, therefore, that provision
must at once be made for Il largely
increased revenue if these estimates
are to be respected.
This condition is the result of n So
called revenue system under which the
bulk of taxable personal property es-
capes assessment, with II consequent
increased burden upon owners
of real estate. The needs of
our state institutions have there
fore for years been disregarded.
/ have heretofore adverted to the fact
that assessed valuations decreased
from S236, ,449. As in 1892 to S1SI, 100000
in 1898, and that the downward move
ment began with the act of 1891, re
moving the limit on the taxing power
of counties, thereby enabling them to
realize all needed revenue regardless of
the valuations. On the other hand the
constitutional restriction upon the tax
ing power of the state, makes its reYe-
nue. largely depend upon the general
valuation. This anomalous condition
places the commonwealth at the mercy
of the tax dodger and the assessor, un-
Il 1t.
ing in the midst of plenty, while the
burdens of the honest taxpayer are un-
justly increased.
AS long ago as 1897 the greatest of
living statisticians estimated the
wealth of Colorado mt more than ST.
o0,0oo,000. Between that and the
present year our material prosperity
has been great. Millions of wealth
have been created and garnered by
vigorous and progressive people. yet
our assessed valuation is returned un-
der oath ut about S215,0OO00O. Need
we marvel at an exhausted treasury
and furnished public institutions? An
assessment at One-fourth of the actual
value of our taxable wealth, would un-
der a four-mill levy. yield an ample
sum for the public needs. Experience
tells us we cannot get 1t under the eN-
listing code and resort must be had to
other methods We may provide for
the enforcement of summary penalties
against official and other violations of
the present law; we may have recourse
to specific sources OF revenue or we
may do both by II thorough revision of
the revenue code.
1T has long been customary for
county assessing authorities to justi-
fy their low valuations by the assertion
of similar misconduct OF the state
board Of equalization and to promise
reform whenever that tribunal made
record for good behavior. Recrimina-
tions even when true cannot justly
wrong doing. When unfoundcd they
should never occur. Property coming
under the jurisdiction of the state
board has. city realty excepted. during
the last two years been assessed rela-
lively higher than property in general
and far beyond that of large corpora
tions over which it has no control.
81 know of no better method of dem
onstrating this fact than by contrast
ing the assessed valuation and annual
tax payment of n local railway compa-
NY with those of one of our largest in
dustrial corporations. The Colorado II
Southern railway is capitalized at S4S,-
Oo0.OOO. earned for the fiscal year end
ing June, 1900. gross. 4,23I, I42; net
81 104, ,S91 .2S: was assessed by the state
board and paid local and state taxes.
S1132iO.11. The Colorado Fuel and
Iron Company Is capitalized at SD
100000. earned for year ending June
30. 1900. gross. S1O.3jO. .029.54; net So
551 .5S6.24; was assessed locally and
paid in local and state taxes, SJ3. 3.S12.J4.
am not and never was the champion
of railway or other corporate interests.
Justice nevertheless requires me to say
of those coming within the domain of
the state board. that only in one in
stance was any item of taxable prop
erty excluded from the returns; that
all their reports were verified by the
official representative of the state. In
1899 they offered to submit to state
tax of six mills upon the dollar. that
its treasury might be replenished, pro
vided other taxpayers would do like
wise. | at once submitted this gener
Gus proposition to the local boards
throughout the state, but the silence
with which it was everywhere re-
ceived was universal and still remains
unbroken. Its acceptance would have
increased the public income for the
past two years by twenty-five per
cent. and satisfied nearly all the ap-
preparations of the third class.
1.-THE permanent tax levies for vari-
Gus state institutions supplemented by
other fractional invasions of the 4mill
limit have progressively diminished
the proportion thereof for the purposes
of general revenue until but little
more than third of it remains. The
resduum consequent upon the neces-
sity of providing a sinking fund for the
capitol building bonds was smaller in
1S99-1900 than ever before, and will
be smaller still for the ensuing two
years. Two and one-half mills We're
available in 1899, l 14-15 niles in 1900.
The sinking fund was 100000 for
1899. and 100000 for 1900 One
hundred and twenty thousand dol