Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-08-21

81
Icense system or the smuict law. The
facts are familiar to you all. In Scott
county we have no local Interest In the,
matter, but In the interests Of sobriety
land honesty we would like to have some
provision for the entire state that would
wipe out the drug store and other incen-
stives to drunkenness.
EQUAL TAXATION.
The democratic party demand in state
affairs equality Of taxation for lite citi-
zens-that the corporations of the state
bear equal burdens with other taxpay-
ers. They do not believe that corpora
ton influence should be strong enough
to oblige the state to lower the assess
ment of corporation property, while the
assessed valuation of individual proper
ty is largely increased.
| In Scott county the assessed valuation
of all property during the last ten years
has increased over IS per cent, while the
assessed value per mile of the Chicago,
Rock Island G. Pacific Railway Com
pany in the county decreased from $12,-
500 for the main line and $500 for the
southwestern division in 1890 to $1,000
per mile for the main line and 1920 for
| the southwestern division in 1900 The
assessment of the Chicago. Milwaukee &
| st. Paul. Burlington, Cedar Rapids e
| Northern and other lines have remained
at the same valuation. In 1890 the as
\ sessed valuation of lots and lands in
Scott county was s7.605.514 In 1901 they
are assessed at $1,000. 666. During these
| ten years the betterments of railroad
| property both locally and for the whole
| l.res have been greater in proportion
than the Improvement of farm lands ana
city lots. This is evidenced If in no other
4 way than by the increased selling value
| of the stocks of the railroads. Accord
| ing to the report of the Chicago, Rock
Island & Pacific Railway Company in
/ 1893 to the interstate commerce commits
Sion the funded debt of the Rock Island
amounted to s22,0S9 per mile and the
| stock outstanding to SIT, 075 mile This
stock was worth few days ago on the
| Chicago market $115 per share, which
4 would make the value of the road ac-
cording to the ordinary method of as
sessing property s51,974 per mile 1t is
said that the c., r. /. & P. Railway
I Company is one of the roads that has
rot been able to get the ear of the exec
/ utive council
The valuation of individual property
of the state has steadily increased dur
ing the past ten years. The railway as
sessment has decreased from s5.319 in
1881 to S5042 per mile in 1900 taxable
value. while the earnings have in
creased from $4,522 per mile in 1891 to
i s5,6O7 in 1900. There can be no excuse
for this except the favor of the executive
council charged with the assessment of
corporate property.
4 RAILROAD ASSESSMENTS.
The idea of the statutes of Iowa is
mat all property for purposes Of taxa
4 ton shall be valued at its fair market
Vaiue. your property is so valued II
!. your farm BE- mortgaged for $4,000 and
your equity in it is worth-or If you are
able to sell it for $4,000 subject 10 the
mortgage-it is the duty of the assessor
under the law to put a valuation of $780,
Vc0 on 1t. If railroad corporation is
mortgaged or bonded for S2O,OOo,OOO and
It's stock which represents the equity In
the property is worth s5O,o00.OOO 1T is the
outy of the assessing body to value il
for taxation at S70,000.0O
Railroad lawyers with political in.
f1uence ought not to be able to induce
, the executive council to say its value i.
4 one-half or even per cent of that sum
; The same rule applies to telegraph. tele
phone and expires companies-to gas ant
!, electric companies, water conlpanies
street railway companies and every 9th.
!, er corporation having valuable fran.
), chises and earning capacity. The,
should be assessed on the selling value
of their stock. 1t is the only legal, the
only just and equitable method of as.
sessment and the courts uphold it.
The supreme court of Michigan re.
Gently held that the Detroit Street Ra.
way company was properly assessed TO,
$4,000 600 over and above the value of it.
tangible property as represented by it.
tracks, ties and rails and cars ans: sta.
!, lions.
The supreme court of Ohio have helc
mat an express company ought to b,
? assessed for something more than tn,
D horse and wagon and office furniture
3 with which 1t does business in any local
. lily. Its right to do bushes in diffsrenc,
: states-to tax the people for performing
pubic service, is worth at whateve,
: itS eai Ming capacity H&eS the value o.
its charter.
4 If the state is not able to get at tn,
+ proper proportion of the property of
5 railroad, express company, telegraph O.
/ sleeping car company doing an inter
state business. let some commission O.
, bureau of the federal government b,
e charged with tie duty of putting a fat
j, valuation on the entire property of sucl
. corporations and then apportiun
e justly among the states for local taxa
q ton.
i WORK FOR DEMOCRATS.
e Equality of taxation, the placing o
t corporations on an equality with othe
Y subjects of the state. the enactment o
good license law, the abolition of tn
offices of state printer and state binder
I the prevention of the use of state offic
e for personal campaign purposes. avoid
t ing the scandals brought upon the stat
i by dishonest public officials can be &C
G complished by the democratic part,
: alone. They alone can settle thes
Il questions and settle them right. In ev
al cyrS Y.ofN e-t, ~