The Redwood gazette., 1902-08-20
PROPOSED AMENDMENTS.
Voters Should Read Them Carefully and
Vote tsYeS.''

Voters Should Read Them Carefully and
Vote s'Yes.''
The amendment as to taxation can
only be considered in sections and
made plain.
First It specifically prohibits
the surrender, suspending or con-
tracing away Of the power of leg
islation. This for instance would
make it impossible for any future
legislature to fix a form of taxation
for corporations or for any class,
that could be claimed to be con-
tract and so interchangeable.
Second-The legislature must
each year levy tax to meet the es-
timated expenditures. II there is a
deficit any year, then the levy the
next year must be large enough to
pay this in addition to the regular
estimated expenditures. This will
prevent the State ever having a
floating debt or the issue of bonds
to meet current expenses, or to take
up temporary debts.
Third-When the income OF the
State from other sources such as
the gross earnings, Inheritance,
corporation taxes, ETC., is sufficient
| to meet the annual State expenses,
then no State tax on lands or per-
sonal estate shall be levied.
| Fourth-All taxes for State pur-
poses shall be uniform throughout
the State and shall be equalized by
the State board of equalization. But
when no State tax is levied then
there shall be county option in tax
! alton That is, each county shall
levy its own tax. make its own as
sessments and equalize that assess
ment as it sees fit In tax matters
it would be as free as in road mat
ters, and could make assessments
| low or high on the different classes
of property as it might see fit.
/ F'ifth-General or special laws
may be passed authorizing cities
and towns to levy assessments for
! local improvements on frontage
property or property benefited OF
both, without regard to cash valua
Ition.
I Sixth-Corporations holding a
public franchise, such as a street
| railway, lighting, water, telephone,
boom and other franchise compan-
les, may be taxed in either of two
ways. A tax may be levied on the
value of the franchise in addition to
a tax on all real estate and personal
property held by the company. Or
in lieu OF all other taxes a tax may
be levied on gross earnings. just as
is now done with steam railways.
| Whichever method is used the tax
lis, however, not to go as does the
railroad gross earnings tax, all to
the State, but is to be appOrtioned
to the State, counties and munici-
palities where such franchise is
Iexercised Z
Seventh-An Inheritance tax not
to exceed five per cent may be
| levied This tax may be graded or
i fixed. That is. it may be a certain
per cent on certain amount OF in
heritance and different per cent.
on larger estates and so on. but in
no event can it exceed five per cent.
| Eighth registry tax may be
Imposed on mortgages in lieu OF
other taxes. This is in effect fee
5Icharged when the mortgage is
(offered for record and graded ac-
D! !cording to the amount of the mort
gage. As by far the greater per
cent of mortgages now escape taxa
tion entirely. this would be an effort
to make an equable tax on all and
h place the resident money loaner on
a fair basis with the non resident
i who now pays no tax
i Ninth-An income tax is permit
]! ted which shall be Uniform through
out the State It shall be on all
Icredits or corporations and on all
income from personal property.
| Alsoit shall be on all incomes arls-
ling otherwise than on credits and
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