The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-01-11


sented:
81 am of the opinion that the Revenue
Law now in force under the new assess
ments which will be made next June will
supply all the demands for current ex-
penses. The Revenue and Machinery Acts
Of the last Legislature were much criti-
cised at the time Of their passage, but
experience has shown that with few
notifications they are perhaps as good as
can be made under our Constitution. The
adjustment of taxation so that the bur-
den shall fall equally upon all and in
proportion to the ability to pay is one of
| extreme difficulty; if indeed 1t
| is not altogether impossible. There
| has been mucn complaint OF the
| inequality of assessments in our
| State. Farmers and merchants
| complain that the corporations do not pay
| their proper part of the taxes for the
| support of the government, while some of
the corporations insist that they are
taxed in excess of the taxes levied upon
other property. The laws now in the
| statute books provide for equality of
! assessment, but by equality of assess
! ment it is not understood that those
who have secured franchises from the
| State and thereby enjoy special privi-
| leges should be exempt from payment of
| taxes on the value of the franchises and
privileges which they enjoy Mr.. Justice
Miller, in a case before the Supreme
| Court of the United States, declared that
| sit has been a desideratum, perhaps not
| yet fully attained, to find method of
| taxing this species of property which
| will be at the same time just to the
| owners of it, equal and fair in it's rela-
| tions to taxes on other property, and
| which will enforce the just contribution
that such property should pay for the
benefits which were more than property
generally, it receives at the hands of
| government"
THE law now on our statute books for
the taxation of railroads follows the line
of this decision. That law provides the
method for ascertaining the value of the
property of the railroads, and the method
provided seems to me to be fair and just
This law has the advantage of having
been passed upon by the Supreme Court
of the United States in cases going. to
| that court from other States. Much of
! the value of corporations is intangible
and no tax law which ignores this in
| tangible property is just to the owners
| of tangible property assessed at its true
value The law now in force recognizes
| this fact and provides for the assessment
| of this intangible property and lays down
rules by which it can be done with
| reasonable accuracy These rules pro-
| coed upon the idea that whatever prop
| erty is worth for the purposes of income
! and sale it is also worth for taxation"
! No just man demands more than this and
| no fair minded man can justify anything
| less.
| There is much property other than
| railroad property undervalued for taxa
| ton. When the law says that property
| shall be assessed at its true value in
| money any system or rule of assessingJ
! 1T at less than it's true value ought to
| be abandoned. Obedience to the law
| by these charged with it's execution is
essential to the maintenance of good gov
| eminent. BY obedience in matters of
assessment of all property ample rev.
enue will come to the State for every
| legitimate purpose, and those who are al
ready paying upon full values will en-
| joy that equality which by right belongs
| to every citizen in hearing the burdens
of government. The Machinery Act pass
| ed by the last Legislature makes ample
| provision for securing this end. l. there
| fore, recommend that both the Revenue
and Machinery Acts now constituting our
law in reference to taxation shall re-
main as they are with the notifications
| recommended by the Treasurer and Au-
| ditor. Much time is consumed by each
Legislature in passing new Revenue and
Machinery Act. Before the people be-
come accustomed to the new law an
other is enacted, creating constant un-
easiness, misrepresentation, and criticism.
The officers and people alike begin now
| to clearly understand the present law.
| 1t is wise, therefore, as a matter of
economy of time to the Legislature and
! for the benefit of the taxpayers to make
few changes in the existing law"
| 1t is not believed that the assessment
of the Corporation Commission, assessing
railroad property by the plain rules laid
down by Justice Miller, and approved by
the Supreme Court of the United States
and of North Carolina, will be interfered
with by another Simonton injunction. The
fear of an injunction has been held as
suspended sword over every Corporation
| Commission. called upon to assess rail-
roads for taxation. 1t has no doubt
caused them, in some cases, to make the
assessments too low, and in other cases
has worked to make them accept COM
promises not just to the State. Under
| the present rules, they would be acting
almost entirely as ministerial officers
and any injunction. if attempted by any
railroads, would be against the virtual
act of the General Assembly.
The railroads in North Carolina pay
less tax than is paid by the railroads of
any State in the American Union except
two or three.
The railroads doing business in North
Carolina pay less tax in North Carolina
than they pay in any other State through
which they run.
If, during the past five years, the rail-