Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1904-11-04

estate that were taxable for the
year 1903. sly residence prop
erty and office building, wholly
used and occupied by myself and
from which | derived no income
for rent.
This property was assessed at
5000. | paid taxes for State and
county purposes for 1903 amount
ing to $169.35.
Comparing my taxes with the
Mountain State Gas company, [
find L am taxed with property in
which to live and do business,
and from which | derive no other
income, valued at more than one
fourth of the assessed value of
the property of the gas company,
and | paid one-fourth as much
taxes as -. did this company.
Now if my property is assessed
under the new law the valuation
no doubt will be doubled, and |
will be assessed at probably $lS,-
600 to $4,000.
But will the gas company be as
sessed at any higher valuation?
| object to doubling the valua-
ton Of my assessment until the
gas company is taxed at a vaIua-
ton i'll proportion to what my
property is valued at this time.
| only use the gas company as
an example, not through any ami
mostly whatever. 1t is only
availing itself Of the system.
Other corporations are paying
taxes upon an equally inadequate
valuation.
Would it not be fair to the far
mer and owners of city and SUI
burban real estate, before doub-
ling their assessment to effect an
actual assessment and collection
of taxes upon corporate property
now practically exempt at fair
valuation, rather than doubly
burdening the land owner, and
promise to assess the corpora
tons same time in the future.
1t is claimed that the new laws
will compel depositOrs in our
banks who now escape taxation,
to list their deposits for assess
ment purposes or withdraw their
money from the banks. Will
these depositors who are leaving
their money in the banks at 3 per
cent list the same to be taxed at
21a per cent? Will not this class
withdraw such money, send it be-
yOnd the State, or invest it IN
bonds which cannot be reached
by taxation? Will not the eff
feet be to so reduce the deposits
as to cut down the loans now be.
ing made by the banks of this
character of deposits to such an
extent as to seriously cripple the
commercial interests of the State?
In recent decision of the SUI
preme court of the United States,
the validity Of the Indiana stat
ute, taxing the property of ex-
press companies was passed up
on, and while that court did not
hold the statute was uncOnstitu-
tional, it did hold that the prac,
teal administration Of the law by
the authorities of that State de-
prived the express companies of
rights secured by the Constitu
ton.
Fargo VS.. Hart, 1913 l. S., 400.
The new statute of West Vir-
ginia is practically the same as
the Indiana statute. This decis-
ion was handed down March 81,
1904, and it's effect is to unsettle
the rule heretofore adopted by
the authorities administering the
corporation tax laws of many
States which are known as the
unit system and which system
the special session adopted as a
means of taxing public service
corporations.
No doubt when the new sys-
TEN is attempted to be enforced
against the corporations they
will resort to legal proceedings
like that in Fargo VS.. Hart by
means whereof the assessment
against these companies will be
enjoined and it will require years
to determine the constitutionality
and validity of the assessment.
But in the meantime the farmer