The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1903-10-30
AGAINST IT
Argument Opposing Adoption of
Constitutional Amendment.


amendment to be voted ON by the peo
pie Of Kentucky at this election, We
now give an argument against II by a
covington lawyer; l.
"Prior 10 the adoption Of the present
Constitution Of kentucky, It was the
practice Of the corporations and the
other moneyed institutions Of the State
to obtain from the State Legislature or
from the county or municipal authori.
ties complete or partial exemption from
taxation.
The banks Of the State, which at
the time Of adoption Of the constitu.
tion. had capital stock amounting TO
many millions OF dollars had secured I
legislation by which they paid Int 70
cents on each 800 share of their capital
stock In lieu Of all taxation State,
count-i and municipal Most Of the
y steam railroads, street railways, ferries,
bridges gas companies, water com
panies, telephone and telegraph com.
paniea, electric light and power com
panics Of the State were enjoying en-
tire or partial immunity from muni
cipal and other local taxation, obtained
by methods more or less questionable,
The trainers Of the constitution,
realizing the injustice OF the conditions
thus existing. provided in Section l10l
Of that instrument that certain proper.
ty used for charitable, educational and
religious perposes should be exempt
from taxation. and that all other prop
erty should pay taxes aud that all laws
excepting or committing property from
taxation other than the property men
toned In said section shall be void
and provided In Section IA that all
property, whether owned by natural
persons or corporations shall be taxed
in proportion to its value, unless az
empt BY this constitution. and all cor
porate property shall pay the same
rate Of taxation paid BY individual
property. and In Section Ill that taxes
shall be uniform upon all property
subject 10 taxation within the terri.
torial limits Of the authority loyying
the tax.
Following the adoption Of the con.
stitution cih.Ie the efforts OF the banks
'M the State 10 establish the position
fthat, under the Hewitt act. they had
N an irreyocable contract with the State
Wto tax them only 20 cents upon each
eiOO share Of their stock in lieu Of all
other taxes, and the FINAL decision Of
the court Of Appeals Of this state
affirmed by the supreme court Of th'
United States, that the banks had nc
such contract As TO taxation, and that
they must pay taxes TO the state and C
the county and municipality just Al
an ordinary citizen
The court.oi Appeals alec deciee'
IN numerous cases that neither thl
General Assembly nor the authorilic
Of ans county or Municipality bad ih
powcrto exempt property from taxa
ton noi exempted by the constitution
The corporations then, in the eSercis
Of their usual ingenuity and peristenc
and spurred on by their untalterin
diulnclinotion TO pay taxes, sought y
have local authorities substitute
license tax for the adyalorem tax, Til
court of Appeals while couceding tn
right Of the local authorities to impo'
license tax. held that such tax coul
not be in lieu Of the valuation tax.
'Theamendment TO the constitutio
which h TO be submitted to the peop
at the,c6ming November election f
their approval. confers upon the Gen
raj Assembly the power TO pass gener
laws authorizing the cities aud towl
Of the State to substitute an incon
license or franchise tax, for the I
valorem tax upon personal propert
II is exclusively in the interest of q
corporations and accumulated wealt
II antilles and sets aside the uniform
ty Of tAxation so carefully establish
by the Farmers of the constitution.
IF ths amendment should meet vi
the Ay ,reval Of the people, it will
{ estabnAh the tax-dodger in mis- old bu
ness Of corrupting municipal auiho
ties in order that the poor may
made to pay the taxes of the ri'
The authorities Of the municipality {
for instance, proylde.ly ordinan
that li,,snse tax Of say 800 per "
be imposed upon those doing basin
as bankers, and that this tax is to "a
the placeof the ad yalorep tax up
the persehst properly iof the ban
Thus tho. municipalities will hose
taxes upon,the lnillians-of Sloilsrss
sti,uting tie capital stock and SURF
Of the banks This loss mustbemet
increasing the tax rate of the sn
home Of the citizen. The perso
property of:allcorpu1Itions and b
nesses may in this manner be gran
immunity from taxaton.
After issyears of litigation, a
the courts have finally determined
the banks must pay thetaxes upont
Ss property aspther owners of prope
the people ore asked to open up
question aud relieve ihe banks
the moneyed institutions of the S
from the payment of their part of
necessary expenses of the admins
s, tion Of the government
AN loverp Of good goyernwsnt-
fair taxation should vote against
proposed ainepdment.L ,~-s So
v..- - WALKER G. Hal
Oct, 20, 1908. 9oyington,
Danger lp, Fall Colds,