The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-07-02

Besides an organization tax and be-
sides the ad valorem tax, levied as
aforesaid to reach the maximum of
value. the legislature has levied an an
nual corporation or franchise tax. At
present this a Is small. but 1t is one
which, IL not limited will surely grow.
It is too fruitful a field for the tax gath
erer to neglecr. IL he is Permitted to
cultivate II at all
The ideal system OF taxation Is one
whereby:
IL. Every piece OF property is placed
upon the tax books at its real value
and taxed once. and only once.
"2. Every piece of property is taxed
at its actual situs. II land, in its town.
ship: IL chattels, where they are: il
credits and chooses In action, at the
home OF the owner: If a corporation.
where its principal business is carried
On.
"3. When property is taxed in one
form. 1t shall be exempt from taxation
in another form. When a corporation
is taxed, the certificates representing
ownership OF a part of that corporation
shall not again be taxed.
a. When property situate in this
state. and belonging to a foreign cor
poration. is assessed for an amount
not less than the value Of the stock Of
that corporation held in this state, such
stock held in this state shall not be
taxed, for it represents property al
ready taxed in this state.
THAT these rules are equitable and
just. I apprehend none will deny.
That they are practicable, is, I think,
easy of demonstration. If 'engrafted
upon our tax system no man could
dodge his own tax, no man could shift
a part of mis- tax upon a neighbor in
the guise of a special tax or of a tax
upon some duplicate form of property.
Every citizen, feeling that he must in
evitably pay his proportion of all
money expended would have an inter-
est in seeing that no public money was
wasted and squandered. A man might
feel Indifferent to waste and malfesance
when he felt that the loss would fall
principally on others, and remotely, If
at all, on him: but when he knows he
must pay his share, self interest
strengthens his patriotism and his in
tereSt in the public welfare becomes
active. .. "
Some attempt to justify the propos-
ed determinations against private cor
porations by saying that they are ON
Stltutiona!. This is no defenSe. The
constitution is d limitation on govern
ment. 1t is not q test of right or wrong.
No man would think Of doing a foolish
thing because the constitution did not
forbid his doirg it. Even granting
that such determinations are not for
hidden by the constitution, We should
not enact them into law unless it is
right n wise to do SO. Again they
say "Other states have such laws: cor
porations do not leave those states;
why can't We do likewise? The an
swer to this IS two fold. First, if 1t
is true hat other states discriminate
against manufacturing corporations,
then we have a great opportunity be-
fore us. We have only to treat them
literally and fairly. and invite them to
come to a state which will hot discrim-
mate. They would come. Second: 1t
is not true that other states Cypress
n rimln against the private
corporation. Some sections in the Code
of some of h states may seem to do
SO. but it will be found that there are
countervailing benefits. more than Off
setting the oppressive section. We are
told that Pennsylvania requires corpor-
atoms to answer all the questions re-
quired by our new revenue act. This
is true: put that state prOVideS that
the total tax levied on private orpor
atoms. except such as engage in the
manufacture OF sale of liquor, shall not
exceed for all purposes five dollars on
the thousand. Corporations in VIII
mington, Raleigh. Charlotte, Asheville
and other towns pay more han $4,000
on the 81, 900 valuation. If these cor
porations could lave the benefit of the
Pennsylvania limitation, no doubt
their officers wculd be willing to an
swer all the questions in the Shorter
Catechism.
"VirginIa'S constitutional convention
is now considering a proposition to
grant an entire exemption for a number
of years from taxation to manufacture
ing enterprises hereafter established.
mississippi and Alabama have given
qualified exemption from taxation to
manufacturing concerns n offer gen.
erous treatment to all that build In
their borders. Now if our sister states,
to the north n to the south, confer
these benefits upon Industrial corpora
lions located there, and if we impose
| burdens on those located here, it will
| not require a prophet to foretell our
fate in the Industrial future.
1.-The second tendency which 1 have
noticed in our tax laws which seem to
threaten danger to the future welfare of