The Leon reporter. (Leon, Iowa) 1887-1930, 1901-10-03

The Republican railroad syndicate
figure that all these questions were in
fact determined in the Republican state
convention, and that the $4,000 to lO0,-
600 republican majority will simply rat
lily the action of that convention.
Therefore they do not propose to discuss
state issues at all, but will devote them
selves exclusively to national issues, or
oriental issues, or questions in astron-
omy. or something of that kind-any
old thing but state issues in a state
campaign.
They do not care to explain why it is
that the farmers and other property
owners of Iowa are compelled to pay
taxes on % per cent valuation of their
property, while the railroads are from
year to year let off with 12a per cent
valuation.
They do not care to explain why it is
that the railroad assessment for this
year, 1901, is lower per mile than that
for any year since 1897, last, year ex.
copied.
They DO not care to explain why it is
that the railroads of Iowa will pay in
taxes for this year only S2.67 out Of
every 500 they receive in gross earn.
ings, while seven years ago they were
required to pay 1918. or nearly 50 per
cent more than they now pay.
They do not care to hear discussion
of the facts that James j. Hill and his
associates recently purchased controll.
ing interest in the g., 3. 4 @. railway
system, paving therefor the market
price for the system, including fran.
chises, rolling stock, terminals, etc.,
$40, l73 per mile, and that at about the
same time the executive council Of Iowa
in secret conclave, decided that this
same system was worth only $25, 952 pei
mile and should be valued for taxation
at one'fourth of that figure, or sc, 4se
per mile. That Is to cay, the principal
owners of the g., b. & Q. system, James
j. Hill and his confreres, have. by theil
acts and their money, said to the world
that their railroad property in lowe
should be valued for taxation atSl2.
976 per mile. but the republican execu
tive council have in the face of these
facts valued the property for taxation
at only $G.4SS per mile.
The republican railroad tools try te
, make it appear that the railroad tax
problem is most difficult problem
that it is almost impossible to deter
mine the real value of railway property
: that while it is an easy matter to deter
mine the value of the farmers farm
his COWS and his pigs, when it. comes t.
the very grave question of the value Q
, Il railroad, there are only few intellect
that are wide enough, long enough ant
deep enough, to wrestle with the prob
> lem. In their opinion the subject re
quires the employment of such ponder
J Gus brains, and such only, as those pos
J sessed by Ten Per Cent Shaw, Reforme
Hernott, Attorney Cummins, Attorne,
Hubbard and Attorney Blythe.
But, unfortunately for the republican
: railroad schemers, the supreme court O
!, the United States, the highest tribuna
in the land, has decided time and agar
that the problem is a very simple one
Here is the language Of the supreme
court in deciding the point:
u "When you have ascertaine | the cur
rent cash value of the whole funde,
debt and the current cash value of tn,
entire number of shares, you nave, b,
the action of those who above all othe
can best estimate it, ascertained tn,
true value of the road; all its property
its capital stock and it's franchises; TO
these are all Represented by the valu,
of its bonded debt and of the shares O
its capital stock"
And nothing is easier to ascertain
than the market value of railway stock
tbonds. But. then, we must no
forget that for years the conspirators il
the executive council of Iowa haven
Teen at any time trying TO determin,
the real value of the railway propert,
in the state: they haye been CONSTANT,
engaged in the quarrel among the rail
road thieves as to the division anon.
themselves Of the hundreds of thou
sands of dollars stolen by them from
the simple, honest, horny-handed tax
payers Of the state. f. @. STUART.