Hattiesburg daily progress. (Hattiesburg, Miss.) 18??-1909, 1903-05-14
MR.. FOOTE'S ADDRESS TO BANKERS
Continued from page one.

ment once each year, ana require such
reforms as they see fit, but it was
seemingly supposed that they could
not depend upon, and thus their hon.
esty has been discounted.
The law works peculiar hardship
upon merchants, landlords, manufac-
turers and banks. The merchant has
capital of twenty-five thousand dol
lars, and during the year buys hun
dred dollars worth of goods, giving his
notes. He sells his goods out TO the
people on time, taking notes and
deeds Of trust to secure the same; they
are not paid February first; the reve-
nue. agent can proceed against him
and force him to pay the tax upon
solvent credits, all but his profit goes
to paying off his notes given for their
purchase He is not only paying
on his capital and the profit he makes,
but also upon his credit. Take the
case of landlord who rents his plan
tation or his business house for
Thousand dollars on credit, secured
by mortgage or deed of trust. He
pays the taxes on his land, and the
revenue agent pulls him for taxes on
his rent notes, though it may not be
due and collectab,e for months to
come. And so examples might be
multiplied, but enough has been said
to show the character of the law.
Great parade is made about the vast
amount of money the revenue agent
has collected from the railroads and
put into the stat treasury and the
treasures of the counties and munich
palities. 1t is even said that the reve-
nue. agent and some of his counsel have
become princely rich from the spoils
recovered from the railroads that had
not paid taxes for several years, be-
cause their charters granted by the
legislature exempted them from tax
alton. All this may be legal, but it
is doubtful if it brought any gain to
the people. To say nothing of the in
jury done the honor of the state, it is
more than probable that the people,
the honest taxpayers of the state, have
paid these large sums by increased
freight rates, which the railroads have
imposed in one form or another, to
recoup the losses they sustained by the
states failure to keep the compact
made with them, to exempt them from
taxation during the period. A direc-
tor of the Pennsylvania railroad, sit
ting in hotel in Pittsburg looking
over the days paper, read the first ac
count of the suit the revenue agent
brought against the Illinois Central
railroad. He put the paper down on
his lap, laughed and remarked, IF
the Illinois Central railroad company
cannot beat these people, I am badly
mistaken.
The people who pay the railroad
freights are the people from whose
pockets these vast sums of money have
been collected-the consumers, the
laboring classes have paid the bulk of
it, because the merchant and manu-
facturer have added the increased rate
to the price of their goods. If they
did not do so, they would be the sole
losers, and sooner or later would have
to go into liquidation, on account of
such losses, and on account of being
unable to compete with like business
in other states.
The law encroaches upon the rights
of local government of counties
and municipalities. 1t is distribut-
ing factor, and causes a constant battle
within business circles. Every mort
gage brings about discussion, and
our people are made to look to a non.
resident referee who has no local sym.
pathies. He is inspired, of course ant
most NATURALLY, by the fact that he
claim collected. To seek to benefi
ones self is the course of nature.
hold that a certain amount of liber
atty developes and creates greater
klflHS, Dub tulo opii4t OdhhOo 10 hO
veloped and when our people art
watched and lashed at every turn. |
is said that the farm property o
Mississippi is not assessed at NOR
than twenty-five per cent of its value
if fair estimate is made and al
lowed for the improvements tina
have been made upon the lands.
man gives in his lands at so much pc
acre. but says nothing about the yalu
of his residence, barns, fences, etc
The supreme court has decided ths
the assessment can be raised upon res
estate by the methods of the revenu
agent. If this is fair and best. VIII
ia it not equally wise and prudent
leave the entire subject of assessmel
with the different local authorities.
If this is mistaken view then Ii
the law be amended.
First. the revenue agent to be pal
a salary of TWENTY-FIVE hundred do