Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1901-10-02
7ear let off with l21l per cent valua-


ton.
They do not care to explain whyit is
that railroad assessment for this year,
1901, is lower per mile than that for
any year since 1897, last year excepted.
They do not care to explain why 1t is
that the railroads of Iowa will pay in
taxes for this year only $267 out of
every 500 they receive in gross earn
ings, while seven years ago they were
required to pay 1878, or nearly so per
cent more than they now pay.
They do not care to hear discussion
Of the facts that James ]. Hill and his
associates recently purchased acontrol-
ing interest in the G., B. SO. railway
system, paying therefor market price
for the system, including franchise,roll
ing stock, terminals, etc, $45,l73 per
mile, and that at about the same time
the executive council of Iowa in secret
conclaye, decided that this same system
was worth only S25,952 per mile and
should be valued for taxation at one
fourth of that figure, or $6,488 per mile.
That is to say, the principal owners of
the G., B. & @. system, James j. Hill
and his confreres, have, by their acts
and their money, said to the world that
their railroad property In Iowa should
be valued for taxation at $12,976 per
mile, but the republican executive
council have In the face of these facts
valued the property for taxation at only
Sc, 488 per mile.
The republican railroad tools try to
make 1t appear that the railroad tax
problem is a most difficult problem;
that it is almost impossible to deter
mine the real value of railway proper
ty; that while it is an easy matter to
determine the value of the farmers
farm, his COWS and his pigs, when 1t
comes to the very grave question of the
value of railroad, there are only few
intellects that are wide enough, long
enough, and deep enough to wrestle
with the problem. In their opinion the
subject requires the employment of
such ponderouB brains, and such only,
as those possessed by Ten Per Cent
Shaw, Reformer Herriott, Attorney
Hubbard and Attorney Blythe.
But unfortunately for the republican
schemers, the supreme court of the
United States, the highest tribunal in
the land, has decided time and time
again that the problem is very simple
one. Here is the language of the SUI
preme court in deciding the point:
"When you have ascertalned the cur
rent cash value of the whole funded
debt and the current cash value of the
entire number of shares, you have, by
the action of those who above all others
can best estimate 1t, ascertained the
true value of the road; all its property,
capital stock and its franchise; for these
are all represented by the value of its
bonded debt and the shares of its cap
ital stock"
And nothing is easier to ascertain
than the market value of the railway
stock and bonds. But, then, we must
not forget that for years the conspira-
tors in the executive council of Iowa
haven't been at any time trying to de-
termine the real value of the railway
property in the state; they have been
constantly engaged in the quarrel
among the railroad thieves as to the di-
vision among themselves of the humid
reds of thousands of dollars stolen by
them from the simple, honest, horny.