Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-02-21
ASSESSMENTS MUST BE RAISED.

In another column we have presented
in which that paper has set forth a
comparative statement of taxes paid
per mile by railways in all the states.
by glancing at this article, and it is
worth the consideration Of every reader,
1t will be seen that thirty-one states
collect more taxes per mile from their
eighteen states and territories less. 1t
seems that while the average amount of
taxes all over the country is S25i.7S per
mile the Iowa tax is only S159.69 per
mile, practically 40 per cent less, when
it would be hard to convince business
man in Iowa or out of ii that the Iowa
railroads We're not worth as much as
the average of all roads in the United
States. With an agricultural state
shipping out practically all 1t produces
and shipping in the greater part of the
manufactured products it consumes,
railroad business ought to be above the
average. Geographically also Iowa is
situated in the direct line of travel from
coast to coast, making its railways the
highways of commerce from west to
east and east to west yet the Iowa
roads are taxed as being worth 40 per
cent less than the average run of rail-
roads the whole country over.
The figures are convincing in them
selves that Iowa railways are paying
less in taxes than they ought to. When
of the states bordering upon Iowa, Illi-
nois collects S373.77 per mile, Wisconsin
$23S07. Minnesota s2262s, Nebraska
s1ssS6 and Missouri s174.9O and Iowa
collects only s159.6e, it is not hard to
see why the Iowa railways have main
tanned political departments in order to
influence nominations of members of
the executive council. This is the year
to see the situation changed. The pres
ent council will make a very material
increase in the railway assessment.
However easy as 1T appears to decide
upon raising the assessment it is al
together another problem to determine
just how much the rise should be, just
what figure correctly represents the
value of railroad and how to deter.
mine 1t. Some of the radicals insist
that the speculative market quotations
of stocks and bonds should determine,
but If railways securities should not
be listed even this method would be
inadequate. Then again market quo
tation often represents the price asked
or offered for mere fraction of the
stock desired to complete some other
holding or gain control of the property
and does not correctly represent the
value of the whole property.
1t has seemed best to Governor Cum
minis, Lieut.. Gov. Herriott and others
of the more conservative leaders that
no fixed mathematical rule can be de-
yised by law which can accurately as
sess a railway so they have suggested
that if the legislature will require of
the railways q uniform system of ac-
counting the assessment may properly
remain a matter of judgment with the
members of the executive council who
should, in arriving at their opinions,
take into account the market value of
stocks and bonds, gross earnings, net
earnings, physical condition of the prop
critics and any other condition that
might contribute to a proper under
standing of the actual value of the rail-
way There seems TO be no escape from
the personal equation in this problem
and 1t is doubtful if 1t would be wise
craftsmanship to seek any. -Four honest
men, with all the data before them and
time to consider ought to be able to de-
terrnine the value of railway much
more accurately than any hard and fast
rule laid down by act Of law. Pro-.