The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1903-09-25
PRODUCTS OF A STATE
Are Foundations of Wealth,
But Industries Are the
sINEws OF FINANCIAL STRENGTH.
Secretary Peyton N. Clarke Gives an
Interesting Interview on the
Benefits That VIII Come From
the Adoption OF the Con-
stitutional Amendment
In November.

Himself always in the front rank
when contests are waged for state
development, Mr., Peyton N. Clarke OF
Louisville was naturally turned to by
the Constitutional Amendment Com
mittee for its Secretary He has I'M
selfishly devoted much of his time 10
all propositions OF this kind and is
easily one Of the best posted citizens
OF the State on the Constitutional
Amendment The following review or
the benefits to accrue was furnished
by him for our readers;
You will understand, of course,
that the proposed Amendment will
not interfere in any manner with the
present method OF assessing real es-
tate and personal property for State
and county purposes All towns and
cities will continue as heretofore to
pay taxes for State and county pur-
poses under the present law. and the
proposed Amendment II adopted. will
make II possible for any town or city
in the State TO secure an act OF the
Legislature, providing that in raising
revenues for strictly local purposes,
towns and cities OF any class may sub
stitute for the present ad yalorem sys-
TEN. such licenses. franchises. and
excise laws in subjecting personal
property TO its fair share of the ex-
penses Of such towns and cities as
may take advantage Of the Amend
ment when adopted.
1T would seem to be perfectly
fair proposition to allow the towns
and cities in the State to raise their
revenue for strictly local purposes in
any manner they see tit, and no fair.
minded person could reasonably OBJ
ject to allowing them this privilege.
but the main object and purpose OF
the Amendment Is of far greater mo-
ment and interest 10 every citizen in
the State. whether he is a resident OF
a town or city or resides in the coun
try districts.
The products OF State arc its
foundation Of wealth, but its indus
tries are the sinews OF its financial
strength. Without Industries, which
afford markets, In proximity To the
| products, the producers are badly
handicapped, and II compelled to send
their products to distant markets,
where there is greater competition
and increased expenses, as well as
numerous losses. It is perfectly plain
that the producer must suffer
Now in order to secure more in
dustries, which means more employees
and more mouths to feed, we must en-
courage the establishment OF new en-
terprises. and at the same time. by in
creasing the capacity of those already
established, secure an ample home
market for our home products.
"Other States have seen the wisdom
of this policy and Kentuckians should
not be allowed to lag behind them.
Our geographical position and enorm-
GUS undeyeloped wealth should enable
us to occupy place in the front ranks
Of Industrial development and the flu
ture welfare and prosperity OF the
State can be settled in great meas
ure by the adoption OF the Constitu-
tional amendment, Manufacturers and
other industries cannot be induced to
locate in Kentucky while our taxes on
such industries are greater than in
: other States with which we have Ia
compete. Therefore. In order to secure
the benefits, our position and advan-
tages entitle us to. we must be able to
offer the same inducements as are Of
fered by our neighbors.
r while the proposed Amendment
, will not change in any manner the
present method Of assessing real es.
tate for State and county taxes. II
must not be concluded that It will moi
: greatly benefit the entire State
B ut is confidently believed that the
new law will enable the assessors &c
disclose vast amount of property mo-
I and II this result should follow, Their,
would be an opportunity for an I'm
4 mediate and radical reduction in tn,
tax rate for State and county pur
poses by which every taxpayer in tn,
State would be directly benefited
| The main advantage would be in tn,
p inducement to new industries to locat,
in our midst, new capital to seek In
vestment in our farms, mines and ricl
timber lands, and by thus increasing
our wealth and Importance the result
y would invariably follow OF reduction
a in the tax rate. It Is very simpl
o proposition that the more property 4
Il be taxed, the lower the rate necessar.
to secure the same revenue.
: "A recent change In the Kentuck,
n incorporation law has kept vast sum
n OF money In our State which befor
A the change referred to. went to othe
States, and the numerous enterprise
now being incorporated in Kentuck,
will continue to add to Its revenues 10
! all time to come, and II anyone hal
/. J been damaged In any way by tn
!, change there has been no discovery o
,. the fact
= IF Kentucky could gain so much b!
simple change in the statutes, VIII!
should she not gain great deal NOR
by change in the revenue law Al
proposed in the Amendment to b,
voted on in November?
This Is a grave proposition and de
8 serves the most intelligent though
and action Of our citizens"
: His Life Saved nv chamberIajn'S Coli